The Asia Pacific medical equipment maintenance market expected to be US$ 3,079.23 Mn in 2018 and is predicted to grow at a CAGR of 9.8% during the forecast period 2019 – 2027, to reach US$ 7,053.03 Mn by 2027.
Korea is the largest geographic market in the region, which is expected to witness significant growth during the forecast period, due to rise in the geriatric population and decrease in the birth rate. In addition, the country is being preferred for medical tourism, which is expected to offer growth opportunities in the market during the forecast period.
Rest of Asia-Pacific Medical Equipment Maintenance Market
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Market Insights
Growth of the Medical Tourism Industry
Medical tourism is one of the driving factors that is leading to the growth of medical equipment maintenance in the Asia Pacific region. With increasing costs of manufacturing against their practices, the medical device manufacturers are struggling to generate enough revenue to please their investors. The developing economies in the region are expected to be the crucial factor in offering better and profitable growth opportunities for the major players to expand their business and geographic reach. The patients travel to the countries due to the use of sophisticated and advanced medical technology products, devices, and equipment. Medical tourism takes place in cases where surgeries and medical care are required.
The developing countries in the Asia Pacific are known to provide a better opportunity for the major players to expand their business. Factors such as cutting-edge equipment, low prices, and infrastructure have encouraged visitors to get a medical check-up or treatment done in an Asian country. Countries such as Thailand, Singapore, South Korea, Malaysia, and India have a well-established medical tourism industry. Foreign patients are primary revenue generators for private hospitals in these countries. Their share held almost 40-55 percent of the private hospitals’ revenue in countries such as Malaysia, Singapore, and Thailand. In India, medical tourism accounted for nearly 25 percent of revenue, whereas in South Korea, the Philippines, and Taiwan, it accounted for almost 10-15 percent of the country's revenue.
In 2016, the medical tourism sector in Asia-Pacific provided treatment for around 10 million patients and generated almost US$16 to19 Bn (i.e., 15-17 billion euros) in revenues. For instance, in India, more than 4 million medical tourists visited for treatment in 2016, generating about US$4 Bn (i.e., 4 billion euros) in health care revenues. Similarly, in Thailand, around 3.5 million foreign patients spent more than US$4 Bn (i.e., 4 billion euros) on health care in 2016. In Singapore, medical tourism generated for almost US$1.7Bn (i.e., 1.6 billion euros) with almost 900,000 patients being treated in 2016. Countries in Asia have also undertaken measures to accelerate the growth of the medical tourism industry. For instance, during September 2018, AirAsia Indonesia and Malaysia Healthcare Travel Council (MHTC) entered into a partnership to promote Penang as Malaysia’s top healthcare tourism destination. Through the partnership, AirAsia will offer flight discounts to MHTC customers, and would also include discounts on medical check-up and non-medical bills by showing their boarding pass. These strategies are expected to lead to the growth of the medical tourism industry, which is further anticipated to drive the market for medical equipment market during the forecast period.
Super Specialty and Multi-Specialty Hospitals are Expanding in the Asia Pacific
Multi-specialty hospitals are hospitals offering more than two unique treatments in their hospitals, whereas super-specialty hospitals offer newer and newer subspecialties for a specific disorder. The physicians in multi-specialty hospitals possess degrees with specializations in particular areas such as, as MD medicine, MD dermatology, MS surgery, and so on. Whereas, in super-specialty, the doctors hold degrees like DM neurology, McH urology, DM gastroenterology, McH neurosurgery.
Multi-specialty hospitals are a single doorway to the patients’ health care needs. They offer a wide range of treatment from newborn to the elderly aged population. These hospitals primarily focus on prevention, disease management, and appropriate clinical interventions.
Both multi-specialty and super-specialty hospitals provide and promote quality care in health & wellness at an affordable cost to society. However, super-specialty hospitals are currently existing only in few countries across the globe. Thus, with growing healthcare needs and a rising preference for specialized treatment, the super-specialty and multi-specialty hospitals hold several opportunities to grow during the forecast period.
Device Type Insights
The Asia Pacific medical equipment maintenance market by device type was led by electromedical equipment segment. In 2018, the segment of held the largest market share in the medical equipment maintenance market, by device type. The segment is also expected to witness growth at a significant rate during the forecast period as it form an essential part of medical equipment maintenance, its demand is expected to grow at a considerable pace during the future years.
Medical Equipment Maintenance Market, by Device Type
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MEDICAL EQUIPMENT MAINTENANCE – MARKET SEGMENTATION
By Device Type
- Electromedical Equipment
- Endoscopic Devices
- Surgical Instruments
- Other Medical Equipment
By Service Type
- Preventive Maintenance
- Corrective Maintenance
- Operational Maintenance
By Service Provider
- Original Equipment Manufacturers
- Independent Service Organizations
- In-House Maintenance
By Geography
• Asia Pacific (APAC)
- Malaysia
- Singapore
- Thailand
- Philippines
- Indonesia
- Taiwan
- Korea
- Hong Kong
- Rest Of Asia-Pacific
Company Profiles
- Stryker
- Boston Scientific
- Medtronic
- Edward Lifesciences
- Johnson & Johnson
- Abbott
- Terumo Corporation
- B. Braun Melsungen Ag
- Aramark Services, Inc.
- Althea
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Device Type, Service Type, Service Provider and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Asia Pacific Medical Equipment Maintenance Market – By Device Type
1.3.2 Asia Pacific Medical Equipment Maintenance Market – By Service Type
1.3.3 Asia Pacific Medical Equipment Maintenance Market – By Service Provider
1.3.4 Asia Pacific Medical Equipment Maintenance Market – By Geography
2. Asia-Pacific Medical Equipment Maintenance Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Medical Equipment Maintenance – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Asia Pacific– PEST Analysis
4.3 Qualitative Insights on Usage of Devices, By Applications
5. Asia Pacific Medical Equipment Maintenance Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Growth of the Medical Tourism Industry
5.1.2 Rising Prevalence of Chronic Diseases
5.2 Key Market Restraint
5.2.1 Stringent Regulatory Policies
5.3 Key Market Opportunities
5.3.1 Growing Public Private Partnership in Healthcare Industry
5.4 Future Trends
5.4.1 Super Specialty and Multi-Specialty Hospitals are Expanding in the Asia Pacific
5.5 Impact Analysis
6. Medical Equipment Maintenance Market – Asia-Pacific Analysis
6.1 Asia-Pacific Medical Equipment Maintenance Market Revenue Forecasts And Analysis
6.2 Performance Of Key Players
6.3 Positioning Of Key Players
7. Medical Equipment Maintenance Market Analysis And Forecasts To 2027 – Device Type
7.1 Overview
7.2 Asia-Pacific Medical Equipment Maintenance Market Share by Device Type 2018 & 2027 (%)
7.3 Electromedical Equipment
7.3.1 Overview
7.3.2 Asia-Pacific Electromedical Equipment Market Revenue and Forecast to 2027 (US$ Mn)
7.4 Endoscopic Devices
7.4.1 Overview
7.4.2 Asia-Pacific Endoscopic Devices Market Revenue and Forecast to 2027 (US$ Mn)
7.5 Surgical Instruments
7.5.1 Overview
7.5.2 Asia-Pacific Surgical Instruments Market Revenue and Forecast to 2027 (US$ Mn)
7.6 Other Medical Equipment
7.6.1 Overview
7.6.2 Asia-Pacific Other Medical Equipment Market Revenue and Forecast to 2027 (US$ Mn)
8. Medical Equipment Maintenance Market Analysis And Forecasts To 2027 – Service Type
8.1 Overview
8.2 Asia-Pacific Medical Equipment Maintenance Market Share by Service Type 2018 & 2027 (%)
8.3 Preventive Maintenance
8.3.1 Overview
8.3.2 Asia-Pacific Preventive Maintenance Market Revenue and Forecast to 2027 (US$ Mn)
8.4 Corrective Maintenance
8.4.1 Overview
8.4.2 Asia-Pacific Corrective Maintenance Market Revenue and Forecast to 2027 (US$ Mn)
8.5 Operational Maintenance
8.5.1 Overview
8.5.2 Asia-Pacific Operational Maintenance Market Revenue and Forecast to 2027 (US$ Mn)
9. Medical Equipment Maintenance Market Analysis And Forecasts To 2027 – Service Provider
9.1 Overview
9.2 Asia-Pacific Medical Equipment Maintenance Market Share by Service Provider 2018 & 2027 (%)
9.3 Original Equipment Manufacturers
9.3.1 Overview
9.3.2 Asia-Pacific Original Equipment Manufacturers Market Revenue and Forecast to 2027 (US$ Mn)
9.4 Independent Service Organizations
9.4.1 Overview
9.4.2 Asia-Pacific Independent Service Organizations Market Revenue and Forecast to 2027 (US$ Mn)
9.5 In-House Maintenance
9.5.1 Overview
9.5.2 Asia-Pacific In-House Maintenance Market Revenue and Forecast to 2027 (US$ Mn)
10. Medical Equipment Maintenance Market Revenue and Forecasts to 2027 – Country Analysis
10.1 Asia Pacific Medical Equipment Maintenance Market Revenue and Forecasts to 2027
10.1.1 Asia Pacific Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.2 Asia Pacific Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
10.1.3 Asia Pacific Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
10.1.4 Asia Pacific Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
10.1.5 Asia Pacific Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Country (%)
10.1.6 Malaysia Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.6.1 Malaysia Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.6.2 Malaysia Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
10.1.6.3 Malaysia Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
10.1.6.4 Malaysia Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
10.1.7 Singapore Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.7.1 Singapore Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.7.2 Singapore Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
10.1.7.3 Singapore Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
10.1.7.4 Singapore Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
10.1.8 Thailand Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.8.1 Thailand Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.8.2 Thailand Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
10.1.8.3 Thailand Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
10.1.8.4 Thailand Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
10.1.9 Philippines Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.9.1 Philippines Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.9.2 Philippines Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
10.1.9.3 Philippines Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
10.1.9.4 Philippines Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
10.1.10 Indonesia Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.10.1 Indonesia Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.10.2 Indonesia Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
10.1.10.3 Indonesia Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
10.1.10.4 Indonesia Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
10.1.11 Taiwan Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.11.1 Taiwan Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.11.2 Taiwan Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
10.1.11.3 Taiwan Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
10.1.11.4 Taiwan Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
10.1.12 Korea Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.12.1 Korea Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.12.2 Korea Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
10.1.12.3 Korea Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
10.1.12.4 Korea Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
10.1.13 Hong Kong Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.13.1 Hong Kong Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.13.2 Hong Kong Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
10.1.13.3 Hong Kong Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
10.1.13.4 Hong Kong Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
11. Asia-Pacific Medical Equipment Maintenance Market –Industry Landscape
11.1 Overview
11.2 Growth Strategies in the Medical Equipment Maintenance Market, 2016-2019
11.3 Organic Developments
11.3.1 Overview
11.3.2 Organic Growth Strategies in the Medical Equipment Maintenance Market, 2016-2019
11.4 Inorganic Developments
11.4.1 Overview
11.4.2 Inorganic Growth Strategies in the Medical Equipment Maintenance Market, 2016-2019
12. Asia-Pacific Medical Equipment Maintenance Market–Key Company Profiles
12.1 Boston Scientific Corporation
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Financial Overview
12.1.4 Service Portfolio
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Medtronic
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Financial Overview
12.2.4 Service Portfolio
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Stryker
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Financial Overview
12.3.4 Service Portfolio
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Edwards Lifesciences Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Financial Overview
12.4.4 Service Portfolio
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Johnson & Johnson Services, Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Financial Overview
12.5.4 Service Portfolio
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Abbott
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Financial Overview
12.6.4 Service Portfolio
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Terumo Corporation
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Financial Overview
12.7.4 Service Portfolio
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 B. Braun Melsungen AG
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Financial Overview
12.8.4 Service Portfolio
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Aramark
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Financial Overview
12.9.4 Service Portfolio
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Althea Group
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Financial Overview
12.10.4 Service Portfolio
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary Of Terms
LIST OF TABLES
Table 1. Asia Pacific Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
Table 2. Asia Pacific Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
Table 3. Asia Pacific Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
Table 4. Malaysia Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
Table 5. Malaysia Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
Table 6. Malaysia Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
Table 7. Singapore Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
Table 8. Singapore Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
Table 9. Singapore Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
Table 10. Thailand Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
Table 11. Thailand Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
Table 12. Thailand Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
Table 13. Philippines Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
Table 14. Philippines Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
Table 15. Philippines Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
Table 16. Indonesia Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
Table 17. Indonesia Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
Table 18. Indonesia Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
Table 19. Taiwan Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
Table 20. Taiwan Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
Table 21. Taiwan Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
Table 22. Korea Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
Table 23. Korea Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
Table 24. Korea Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
Table 25. Hong Kong Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
Table 26. Hong Kong Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Type (US$ Mn)
Table 27. Hong Kong Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Service Provider (US$ Mn)
Table 28. Recent Organic Growth Strategies in the Medical Equipment Maintenance Market
Table 29. Recent Inorganic Growth Strategies in the Medical Equipment Maintenance Market
Table 30. Glossary of Terms, Medical Equipment Maintenance Market
LIST OF FIGURES
Figure 1. Medical Equipment Maintenance Market Segmentation
Figure 2. Medical equipment maintenance Market Segmentation, by Region
Figure 3. Asia Pacific Medical Equipment Maintenance Market Overview
Figure 4. Electromedical Equipment Segment Held Largest Share Of The Device Type Segment In Medical Equipment Maintenance Market
Figure 5. Rest of Asia-Pacific Is Expected To Show Remarkable Growth During The Forecast Period
Figure 6. Asia-Pacific Medical Equipment Maintenance Market, Industry Landscape
Figure 7. Asia Pacific PEST Analysis
Figure 8. Medical Equipment Maintenance Market Impact Analysis Of Driver And Restraints
Figure 9. Asia-Pacific Medical Equipment Maintenance Market – Revenue Forecasts And Analysis – 2018- 2027
Figure 10. Market Positioning Of Key Player In Asia Pacific Medical Equipment Maintenance Market
Figure 11. Asia-Pacific Medical Equipment Maintenance Market Share By Device Type 2018 & 2027 (%)
Figure 12. Asia-Pacific Electromedical Equipment Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 13. Asia-Pacific Endoscopic Devices Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 14. Asia-Pacific Surgical Instruments Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 15. Asia-Pacific Other Medical Equipment Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 16. Asia-Pacific Medical equipment maintenance Market Share By Service Type 2018 & 2027 (%)
Figure 17. Asia-Pacific Preventive Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 18. Asia-Pacific Corrective Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 19. Asia-Pacific Operational Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 20. Asia-Pacific Medical Equipment Maintenance Market Share by Service Provider 2018 & 2027 (%)
Figure 21. Asia-Pacific Original Equipment Manufacturers Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 22. Asia-Pacific Independent Service Organizations Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 23. Asia-Pacific In-House Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 24. Asia Pacific Medical Equipment Maintenance Market Revenue Overview, By Country, 2018 (US$ Mn)
Figure 25. Asia Pacific Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 26. Asia Pacific Medical Equipment Maintenance Market Revenue and Forecasts to 2027, By Country (%)
Figure 27. Malaysia Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 28. Singapore Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 29. Thailand Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 30. Philippines Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 31. Indonesia Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 32. Taiwan Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 33. Korea Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 34. Hong Kong Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 35. Growth Strategies in the Medical Equipment Maintenance Market, 2016-2019
The List of Companies
- Stryker
- Boston Scientific
- Medtronic
- Edward Lifesciences
- Johnson & Johnson
- Abbott
- Terumo Corporation
- B. Braun Melsungen Ag
- Aramark Services, Inc.
- Althea
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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