Medical Equipment Calibration Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Medical Equipment Calibration Market Analysis

The medical equipment calibration market is expected to register a CAGR of 9.3% over the forecast period.

The COVID-19 pandemic has brought challenges to all businesses and industries, but none more than hospitals and healthcare facilities. Hospital equipment needs to be routinely maintained and calibrated to assure regulatory compliance, patient safety, and health. But during the pandemic, there were new restrictions and requirements brought on due to COVID-19. To avoid this challenge companies created new virtual support. For instance, according to the report titled "Healthcare Calibration in the Time of COVID-19" published by Tektronix, a novel "virtual onsite" service delivery option was developed, that would allocate a technician's time to hospital service requirements, either by picking up the equipment to transport back to the nearby service center or by maintaining the assets remotely. Through this virtual onsite module, the medical equipment calibration continued with less impact on the market. As the COVID-19 restrictions were removed with vaccination campaigns and a decline in COVID-19 cases, the market is anticipated to grow to its full potential shortly.

The demand for calibration services is increasing due to several factors, including an increase in hospitals and laboratories, stricter environmental regulations, a greater emphasis on quality and accuracy among consumers, increased investment in R&D initiatives, and an increase in the demand for medical devices. These factors help in the growth of the medical equipment calibration market.

As per the FDA annual recall lists of medical devices in 2021, 57 devices were recalled which is higher than the number of devices recalled in 2020 which is 32. Consequently, it is anticipated that an increase in medical device recalls would be another major factor raising the demand for medical device calibration.

However, the limited consciousness and eagerness for medical device calibration are expected to restrain growth in the medical device calibration market during the forecast period of the study.

Medical Equipment Calibration Market Trends

This section covers the major market trends shaping the Medical Equipment Calibration Market according to our research experts:

Imaging Equipment is Expected to Hold the Largest Market Share Over the Forecast Period

Medical Equipment Calibration Industry Segmentation

As per the scope of the report, medical equipment calibration is the process that ensures the output of the medical devices is as per the industry standards. Calibration can be defined as a comparison between the standard measurement and measurement using a medical instrument. The medical equipment calibration market is segmented by equipment type (vital sign monitors, ventilators, fetal monitors, cardiovascular monitors, imaging equipment, infusion pumps, and other equipment), type of service (in-house calibration services, third party calibration services, and OEM (original equipment manufacturer) calibration services), end user (clinical laboratories, hospitals, and others) and geography (North America, Europe, Asia Pacific, Middle-East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.