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.
Calibration is defined as an operation that, under specified conditions, performs two steps. In the first step, it establishes a relation between the quantity values with measurement uncertainties provided by measurement standards and corresponding indications with associated measurement uncertainties (of the calibrated instrument or secondary standard). In the second step, it uses this information to establish a relation for obtaining a measurement result from an indication.
The same principle is applicable to the calibration of medical equipment. The medical equipment calibration services market report studies the current scenario as well as the future market potential for medical equipment calibration services globally. The medical equipment calibration services market has been segmented on the basis of product types and types of services. On the basis of equipment types, the market is segmented as ventilators, cardiovascular monitors, vital signs monitors, imaging equipment, infusion pumps, fetal monitors and others. Further, the medical equipment calibration services market is segmented on the basis of types of service providers such as in-house calibration services, third party calibration services, and OEM calibration services. The market for medical equipment calibration services has been extensively analyzed on the basis of factors such as demand of calibration services in various specialty hospitals, average price range of each segment, number of hospitals and research institutes, pathology laboratories and its relevance with medical equipment calibration services. The market size and forecasts in terms of revenue (USD million) for each of these segments have been provided for the period 2014 to 2020, considering 2013 as the base year. The medical equipment calibration services market report also provides the compounded annual growth rate (CAGR) for each segment of the market for the forecast period 2014 to 2020.
Geographically, the medical equipment calibration services market has been segmented into four regions, namely, North America, Europe, Asia-Pacific and Rest of the World (RoW). The market size and forecasts in terms of revenue (USD million) for each of these segments have been provided for the period 2014 to 2020, considering 2013 as the base year. The medical equipment calibration services market report also provides the compounded annual growth rate (CAGR) for each segment of the market for the forecast period 2014 to 2020. The study also includes qualitative analysis of the competitive scenario in these regions. The market overview section of the medical equipment calibration services market report offers a qualitative analysis of the overall market considering the factors determining market dynamics such as drivers, restraints and opportunities. To understand the current and future market scenario of the medical calibration services market Porter’s five force analysis and market attractiveness analysis covers the various aspects related to market environment. In addition to this, value chain analysis, pricing analysis and event impact analysis are also included in this section.
The medical equipment calibration services market report also provides a highlight of the competitive landscape of the market, wherein the heat map analysis of the important players in the market, along with the services offered by them has been discussed. A list of recommendations has also been included for new entrants as well as existing market players to help them establish a strong presence in the market and accentuate market shares. The medical equipment calibration services market report concludes with the profiles of major players having presence in the market such as Biomed Technologies, Inc., Fluke Biomedical, Industrial Calibration and Services Company, Inc., JM Test Systems, Inc., JPen Medical Ltd., Medserve Ltd., NS Medical Systems, STQC, Government of India, TAG Medical, Tektronix, Inc and Transcat, Inc., Market players are profiled on the basis of attributes such as company overview, financial overview, business strategies adopted by the companies to ensure sustainability and maximize profits, product portfolio and recent developments.
Global Medical Equipment Calibration Services Market, by Equipment Types
- Fetal Monitors
- Imaging Equipment
- Vital Sign Monitors
- Infusion Pumps
- Cardiovascular Monitors
Global Medical Equipment Calibration Services Market, by Types of Services
- In-House calibration services
- Third party calibration services
- OEM calibration services
Global Medical Equipment Calibration Services Market, by Geography
- North America
- Rest of the World (RoW)