Market Size of Global Medical Equipment Calibration Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 9.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
