U.S. Medical Equipment Maintenance Market Drivers, Restraints, and Challenges Shaping the Disposable Medical Device Sensors Market Dynamics
The major factors behind the growth of the U.S. medical equipment maintenance market are the increasing healthcare expenditure as a percentage of gross domestic product (GDP), large number of medical devices installed in diagnostic centers and hospitals, and presence of a large number of maintenance service providers and original equipment manufacturers (OEM). The market was valued at $5.4 billion in 2017, and it is expected to generate a revenue of $9.5 billion by 2023, progressing at a CAGR of 10.0% during the forecast period (2018–2023), according to P&S Intelligence. In the U.S. medical equipment maintenance market , there are three types of services available, i.e. preventive, corrective, and operational. Out of these, preventive services are predicted to advance with a CAGR of 13.7% during the forecast period, attaining a size of $2.3 billion by 2023. This is ascribed to the surging popularity of annual maintenance cost programs among hospitals and other end users. Fur...