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Medical equipment calibration is the process which ensure the output of the medical devices is as per the industry standards. Calibration can be defined as comparison between the standard measurement and measurement using medical instrument. Standard organization accept accuracy ratio of 3:1. Regular calibration and quality assurance of medical devices increases the life and functionality of the products. Wear and tear is medical instruments effects its performance efficiency and accuracy.

Advancement in 3D printing technology, availability of tissue mimicking 3D phantoms, skilled market strategies like overall annual calibration service subscription provide by service provider, availability of cheap labor are some of the factors which is expected to drive the global medical device calibration market. Non-availability of skilled technicians and stringent regulatory authorities are some of the factor which might impact the global medical equipment calibration market.

Medical devices calibration services market can be segmented by calibration type, by instrument type, by end users and by regions. On the basis of calibration type global medical devices calibration services market can be bifurcated into lab overview, dimensional calibration, electronic calibration, pressure and flow calibration, temperature and humidity calibration, torque and flow calibration, field services and equipment validation. Equipment validation service involves calibration of instrument keeping in mind all the parameter influencing the performance of the devices to ensure the quality of the result obtain by the equipment.

Based on the instrument type global medical devices calibration services market can be segmented into Patient monitoring system, Computed tomography scanner, ultrasound machine, X-ray machine, magnetic resonance imaging scanner and others. Patient monitoring system is the segment which is expected to propel the global medical devices calibration services market during the forecast period. Ultrasound is leading segment which is attributing in growth of global medical devices calibration market because one of the major application of ultrasound is to scan and produce image of fetus during pregnancy. X-ray machine is another leading segment which is contributing for growth of medical devices calibration market as X-ray is frequently used for imaging of broken bone by medical professionals. Patient monitoring system is the emerging technology which helps to keep close check on patient suffering from certain health condition. It is contributing in patient specific treatment and personalized medicine thus Patient monitoring system is the segment which is expected to propel the growth of the medical devices calibration services market during the forecast period.

On the basis of end user, global medical devices calibration services market can be segmented into diagnostic center, laboratories, hospitals, pathology and others. Laboratories are the major contributor for growth of global medical devices calibration services market as they prefer to subscribe for annual or periodical service plans which covers the validation of all the instruments available in the labs. Diagnostic center are also attributing for the growth of global medical devices market to attain quality standards decided by regulatory authorities. Moreover, the quality of the data obtained from diagnostic devices because of regular calibration of equipment’s are helping them to attract more promising customers.

On the basis of region, Global medical devices calibration services market can be segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America is the leading region which is contributing in growth of medical devices calibration services market due to strong educational and healthcare infrastructure. Europe is another regional segment attributing for the growth of global medical device calibration service market as many university are offering courses based on specialization in field of biomedical devices. Because of availability of skilled engineers and technicians which can serve as a powerful resources for players operating in medical devices calibration services market. Asia-Pacific region is expected to propel the global medical device calibration market during the forecast period because of factors like large population, low capital income, lack of employment which gives players the opportunity to hire and train the employees working for them on low wages.

Key player operating in global medical devices calibration services market includes RS Calibration, Tektronix, Industrial Calibration and Service Company, Inc., Helix, Fluke, Hospicare Equipment Services Corporation, Biomed Technologies, Inc., NS Medical Systems and Transcat, Inc.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Medical Devices Calibration Services Market

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