North America ISOs Medical Device and Equipment Maintenance and Calibration Services Market To Reach

The market accounted for a $1,468.8-million size in 2019, and it is expected to reach $3,612.9 million by 2030. Currently, the market is witnessing the trend of the adoption of comprehensive contracts

Factors such as the enhancements in the medical device industry, stringent regulatory norms, and high awareness on preventive medical equipment maintenance will drive the North American independent service organizations (ISOs) medical device and equipment maintenance and calibration services market at an 8.9% CAGR during the forecast period (2021�"2030).

Medical equipment maintenance has been mandatory in North America under a stringent regulatory framework. For example, the regulations of the U.S. Centers for Medicare and Medicaid Services (CMS), guidelines of the U.S. Food and Drug Administration (USFDA) and original equipment manufacturers (OEMs), and accreditation requirements of the Healthcare Facilities Accreditation Program (HFAP), Det Norske Veritas (DNV), and The Joint Commission (TJC) necessitate adherence to equipment maintenance by the hospitals in the region.

The automation segment of the North American ISOs medical device and equipment maintenance and calibration services market is bifurcated into automated devices and manual devices. Of these, the automated devices category accounted for the larger market share in 2019, and it is expected to hold its dominance in the forecast years. This can be attributed to the amplifying financial support from the government for medical automation, increasing technological innovations in automation solutions, and fueling need for the accuracy and reproducibility of medical devices and equipment.

Therefore, with the strict government regulations and growing awareness regarding preventive medical equipment maintenance, the market will boom at a high rate in the coming years.

Source: P&S Intelligence