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Calibration is considered as an essential procedure for any equipment and device, in order to maintain and improve its accuracy and precision. Calibration is the process, in which equipment under test is compared with some standard equipment, in order to understand the accuracy of former one. The calibration of medical equipment is also based on the same principle. Medical equipment calibration services market is highly fragmented market and the demand for calibration services is increasing, owing to various factors, such as, rising number of hospitals, increasing environmental regulations, and rising customer focus towards quality and precision. This report is focused towards identifying the current scenario as well as future market potential for medical equipment calibration services globally. The global medical equipment calibration services market is divided into two segments, namely; by equipment types and by types of services. On the basis of by equipment types, the market is further segmented as ventilators, imaging equipment, fetal monitors, infusion pumps, cardiovascular monitors, vital sign monitors and others. Whereas, on the basis of types of services, the market is divided as in-house calibration services, third party calibration services and OEM calibration services. 
Out of the all above devices, market of imaging equipment calibration services held the largest market share in 2013. Whereas, cardiovascular monitors calibration services market is expected to grow at the highest growth rate during the forecast period. Increasing focus of customers on the quality, rising penetration of companies in this market and strict compliance environment are key factors expected to drive the growth of this market. In addition, rising product recall is another major driver expected to push the market to a higher end. According to the U.S. FDA, number of product recalls since past couple of years have increased from 763 in 2009 to 1,190 in 2012. These recalls were observed due to software design failure, component and material issues and packaging and labeling. Hence, such frequent product recall affects the company’s reputation and thus, the companies are offering strong emphasis on calibration of their products before and after commercialization. This fact is considered as an important growth propeller of this market. In addition, rising demand for third party and in-house calibration services is another important driver of the market. However, shift towards usage of modular instrumentation, high capital requirement, and dominance by the local and regional players are some of the major reasons that could slow down the growth of this market. 
Geographically, in this report, the medical equipment calibration services market is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). Presently, the European region is the largest market in the world, owing to extensive R&D practices, large number of local and regional players and rapidly growing medical and healthcare infrastructure. However, Asia-Pacific region is expected to be the fastest growing market during forecast period 2014 – 2020. This growth is driven by rising demand for good quality services, steadily increasing medical infrastructure and rising government regulations. 
The market of medical equipment calibration services is highly fragmented and dominated by numerous small and local players operating in specific regions of the world. Some of the global players include Fluke Biomedical, Tektronix, Inc., JPen Medical Ltd., NS Medical Systems and Biomed Technologies, Inc. amongst others. However, these companies have to face a stiff competition from various players operating at regional level and hence; collaboration or acquisition is considered as an important strategy for the players to grow in this market. 

Global Medical Equipment Calibration Services Market: Brief Account

The global medical equipment calibration services market is prophesied to gain growth while riding on the rising demand for refurbished and new medical equipment. Patients adopting the quality-oriented approach on the part of medical devices could help to considerably increase the growth in the market. Medical equipment calibration services have crossed national boundaries and started to exhibit their prominence across the globe due to stringent government regulations. Other factors such as the sophistication of calibration services at lower cost, ease of access, and quicker calibration could have a positive impact on the growth of the market.

The global medical equipment calibration services market is forecast to be divided as per type of service and type of equipment. On the basis of a segmentation by type of equipment, the market could witness the dominance of imaging equipment in the near future.

The report offers a qualitative and quantitative critical analysis of the global medical equipment calibration services market based on crucial dynamics such as trends and opportunities, growth factors, and growth restraints. Each segment of the market is studied using the best of research and analysis techniques to carefully examine its growth trajectory and other vital aspects.

Global Medical Equipment Calibration Services Market: Trends and Opportunities

A number of key factors such as multiplying environmental norms and the swelling count of hospitals are predicted to promise the birth of favorable opportunities in the world medical equipment calibration services market. More favorable prospects could be birthed in the near future because of the increasing focus of end users on precision and quality. Vendors are compelled to strictly comply with environmental regulations to secure their development in the market. There could be an increasing penetration of players in the coming years and growing focus of consumers on quality.

Furthermore, the escalating count of product recalls witnessed in the world medical equipment calibration services market is foreseen to create lucrative prospects in the foreseeable future. Most of the product recalls are researched to be associated with issues related to packaging and labeling, material and component, and software design. As a result, in order to maintain their reputation, organizations are largely taking to calibration services for products before and after their commercialization.

Global Medical Equipment Calibration Services Market: Geographical Analysis

Currently, Europe is projected to claim a leading position in the international medical equipment calibration services market. For a major part of its growth, the region could be dependent on the aggressively rising healthcare and medical infrastructure, growing count of regional and local companies, and vast research and development. Nonetheless, a faster growth in the market could be accounted to Asia Pacific gaining on the back of increasing government norms, stably improving medical infrastructure, and the snowballing demand for excellent quality medical equipment calibration services. Important regions of the market are foretold to lay emphasis on the growing demand for in-house and third-party services.

Global Medical Equipment Calibration Services Market: Companies Mentioned

The worldwide medical equipment calibration services market is prophesied to include scores of local and small companies in specific regions, thus amounting to a significantly fragmented characteristic of its vendor landscape. Companies such as Biomed Technologies, Inc., NS Medical Systems, JPen Medical Ltd., Tektronix, Inc., and Fluke Biomedical could make their presence known in the industry.

Global Medical Equipment Calibration Services Market: Equipment

  • Fetal Monitors
  • Imaging Equipment
  • Vital Signs Monitors
  • Infusion Pumps
  • Cardiovascular Monitors
  • Ventilators

Global Medical Equipment Calibration Services Market: Service

  • In-house Calibration Services
  • Third-party Calibration Services
  • OEM Calibration Services

Global Medical Equipment Calibration Services Market: Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

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Medical Equipment Calibration Services Market