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Medical Equipment Calibration Services Market

Medical Equipment Calibration Services Market (By Equipment Types: Cardiovascular Monitors, Fetal Monitors, Imaging Equipment, Vital Sign Monitor, Infusion Pumps, Ventilators and Others; By Types of Services: In-House, Third Party Vendor, OEM Calibration Services) - Global Industry Analysis, Size, Share & Forecast, 2014 - 2020

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. 
Medical Equipment Calibration Services Market

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Chapter 1 Introduction
1.1 Report Description
1.2 Market Segmentation
1.3 Research Methodology
      1.3.1 Sources
               1.3.1.1 Secondary Research
               1.3.1.2 Primary Research
1.4 Assumptions
 
Chapter 2 Executive Summary
2.1 Market Snapshot: Global Medical Equipment Calibration Services Market (2013 & 2020)
2.2 Global Medical Equipment Calibration Services Market, by Equipment Types, 2013 (USD Million)
2.3 Comparative Analysis: Global Medical Equipment Calibration Services Market, By Geography, 2013 & 2020 (Value %)
 
Chapter 3 Market Overview
3.1 Market Definition and Overview
3.2 Market Dynamics
      3.2.1 Drivers
               3.2.1.1 Rising incidences of product recall would support the growth of the medical equipment calibration services market
               3.2.1.2 Stringent regulatory environment and increasing focus of customers on product quality is contributing to market growth
               3.2.1.3 Growth of calibration services market is directly proportional to increasing demand of new and refurbished medical equipment
      3.2.2 Restraints
               3.2.2.1 Modular instrumentation or self-calibrating device are restraining the growth of the market
               3.2.2.2 Limited awareness and enthusiasm toward calibration of medical devices restrains market growth
      3.2.3 Opportunities
               3.2.3.1 Expansion of services beyond national boundaries is observed to be the current market requirement
               3.2.3.2 Price pressure from domestic players can be strategically tackled by mergers and acquisitions
3.3 Porters Five Force Analysis for the Global Medical Equipment Calibration Services Market
      3.3.1 Bargaining power of suppliers
      3.3.2 Bargaining power of buyers
      3.3.3 Threat of substitutes
      3.3.4 Threat of new entrants
      3.3.5 Competitive Rivalry
3.4 Value Chain Analysis
3.5 Market Attractiveness Analysis for the Global Medical Equipment Calibration Services Market
3.6 Average Pricing Analysis
3.7 Event Impact Analysis: Global Medical Equipment Calibration Services Market
3.8 Competitive Landscape (Heat Map Analysis of Key Market Players)
      3.8.1 Heat Map Analysis of the Medical Equipment Calibration Services Market, by Key Market Players, 2013
               3.8.1.1 Biomed Technologies, Inc.
               3.8.1.2 Fluke Biomedical
               3.8.1.3 Tektronix, Inc.
 
Chapter 4 Medical Equipment Calibration Services Market, by Equipment Types
4.1 Overview
      4.1.1 Global Medical Equipment Calibration Services Market, by Equipment Types, 2012 - 2020 (USD Million)
4.2 Fetal Monitors
      4.2.1 Global Fetal Monitors Calibration Services Market Revenue, 2012 - 2020 (USD Million)
4.3 Ventilators
      4.3.1 Global Ventilators Calibration Services Market Revenue, 2012 - 2020 (USD Million)
4.4 Vital Signs Monitors
      4.4.1 Global Vital Signs Monitors Calibration Services Market Revenue, 2012 - 2020 (USD Million)
4.5 Cardiovascular Monitors
      4.5.1 Global Cardiovascular Monitors Calibration Services Market Revenue, 2012 - 2020 (USD Million)
4.6 Infusion Pumps
      4.6.1 Global Infusion Pumps Calibration Services Market Revenue, 2012 - 2020 (USD Million)
4.7 Imaging Equipment
      4.7.1 Global Imaging Equipment Calibration Services Market Revenue, 2012 - 2020 (USD Million)
4.8 Others
      4.8.1 Global Other Calibration Services Market Revenue, 2012 - 2020 (USD Million)
 
Chapter 5 Medical Equipment Calibration Services Market, by Types of Services
5.1 Overview
      5.1.1 Global Medical Equipment Calibration Services Market, by Types of Services, 2012 - 2020 (USD Million)
5.2 In-House Calibration Services
      5.2.1 Global In-House Calibration Services Market Revenue, 2012 - 2020 (USD Million)
5.3 Third Party Calibration Services
      5.3.1 Global Third Party Calibration Services Market Revenue, 2012 - 2020 (USD Million)
5.4 OEM (Original Equipment Manufacturer) Calibration Services
      5.4.1 Global OEM Calibration Services Market Revenue, 2012 - 2020 (USD Million)
 
Chapter 6 Medical Equipment Calibration Services Market, by Geography
6.1 Overview
      6.1.1 Global Medical Equipment Calibration Services Market, by Geography, 2012 - 2020 (USD Million)
6.2 North America
      6.2.1 North America Medical Equipment Calibration Services Market Revenue, 2012 - 2020 (USD Million)
6.3 Europe
      6.3.1 Europe Medical Equipment Calibration Services Market Revenue, 2012 – 2020 (USD Million)
6.4 Asia-Pacific
      6.4.1 Asia-Pacific Medical Equipment Calibration Services Market Revenue, 2012 - 2020 (USD Million)
6.5 Rest of the World (RoW)
      6.5.1 Rest of the World (RoW) Medical Equipment Calibration Services Market Revenue, 2012 - 2020 (USD Million)
 
Chapter 7 Recommendations
7.1 Expansion of business across geographies to target global customers
7.2 Extension of business service portfolio
7.3 Focus on Asia-Pacific and emerging market (EMAP) regions
7.4 Extensive focus on promotions and marketing
7.5 Development of new and technologically sound calibration software, products and services
 
Chapter 8 Company Profiles
8.1 Biomed Technologies, Inc.
      8.1.1 Company Overview
      8.1.2 Financial Overview
      8.1.3 Product Portfolio
      8.1.4 Business Strategies
      8.1.5 Recent Developments
8.2 Fluke Biomedical
      8.2.1 Company Overview
      8.2.2 Financial Overview
      8.2.3 Product Portfolio
      8.2.4 Business Strategies
      8.2.5 Recent Developments
8.3 Industrial Calibration and Service Company, Inc. (IN-CAL)
      8.3.1 Company Overview
      8.3.2 Financial Overview
      8.3.3 Product Portfolio
      8.3.4 Business Strategies
8.4 JM Test Systems, Inc.
      8.4.1 Company Overview
      8.4.2 Financial Overview
      8.4.3 Product Portfolio
      8.4.4 Business Strategies
      8.4.5 Recent Developments
8.5 JPen Medical
      8.5.1 Company Overview
      8.5.2 Financial Overview
      8.5.3 Product Portfolio
      8.5.4 Business Strategies
      8.5.5 Recent Developments
8.6 Medserve Ltd.
      8.6.1 Company Overview
      8.6.2 Financial Overview
      8.6.3 Product Portfolio
      8.6.4 Business Strategies
      8.6.5 Recent Developments
8.7 NS Medical Systems
      8.7.1 Company Overview
      8.7.2 Financial Overview
      8.7.3 Product Portfolio
      8.7.4 Business Strategies
8.8 STQC (Department of Information Technology), Government of India
      8.8.1 Company Overview
      8.8.2 Financial Overview
      8.8.3 Product Portfolio
      8.8.4 Business Strategies
8.9 TAG Medical
      8.9.1 Company Overview
      8.9.2 Financial Overview
      8.9.3 Product Portfolio
      8.9.4 Business Strategies
      8.9.5 Recent Developments
8.10 Tektronix, Inc.
      8.10.1 Company Overview
      8.10.2 Financial Overview
      8.10.3 Product Portfolio
      8.10.4 Business Strategies
      8.10.5 Recent Developments
8.11 Transcat, Inc.
      8.11.1 Company Overview
      8.11.2 Financial Overview
      8.11.3 Product Portfolio
      8.11.4 Business Strategies
      8.11.5 Acquisition for business expansion
      8.11.6 Recent Developments
List of Tables
 
TABLE 1 Global Medical Equipment Calibration Services Market, by Equipment Types, 2012 – 2020 (USD Million)
TABLE 2 Global Medical Equipment Calibration Services Market, by Types of Services, 2012 – 2020 (USD Million)
TABLE 3 Global Medical Equipment Calibration Services Market, by Geography, 2012 – 2020 (USD Million)

List of Figures

 

FIG. 1 Medical Equipment Calibration Services Market: Market Segmentation

FIG. 2 Global Medical Equipment Calibration Services Market, by Equipment Types, 2013 (USD Million)

FIG. 3 Comparative Analysis: Global Medical Equipment Calibration Services Market, by Geography, 2013 & 2020 (Value %)

FIG. 4 Porter’s Five Forces Analysis: Global Medical Equipment Calibration Services Market

FIG. 5 Value Chain Analysis of Medical Equipment Calibration Services Market

FIG. 6 Market Attractiveness Analysis: Global Medical Equipment Calibration Services Market, 2013

FIG. 7 Heat Map Analysis of Key Market Players of the Medical Equipment Calibration Services Market

FIG. 8 Global Fetal Monitors Calibration Services Market Revenue, 2012 – 2020 (USD Million)

FIG. 9 Global Ventilators Calibration Services Market Revenue, 2012 – 2020 (USD Million)

FIG. 10 Global Vital Signs Monitors Calibration Services Market Revenue, 2012 – 2020 (USD Million)

FIG. 11 Global Cardiovascular Monitors Calibration Services Market Revenue, 2012 – 2020 (USD Million)

FIG. 12 Global Infusion Pumps Calibration Services Market Revenue, 2012 – 2020 (USD Million)

FIG. 13 Global Imaging Equipment Calibration Services Market Revenue, 2012 – 2020 (USD Million)

FIG. 14 Global Other Calibration Services Market Revenue, 2012 – 2020 (USD Million)

FIG. 15 Global In-House Calibration Services Market Revenue, 2012 – 2020 (USD Million)

FIG. 16 Global Third Party Calibration Services Market Revenue, 2012 – 2020 (USD Million)

FIG. 17 Global OEM Calibration Services Market Revenue, 2012 – 2020 (USD Million)

FIG. 18 North America Medical Equipment Calibration Services Market Revenue, 2012 – 2020 (USD Million)

FIG. 19 Europe Medical Equipment Calibration Services Market Revenue, 2012 – 2020 (USD Million)

FIG. 20 Asia-Pacific Medical Equipment Calibration Services Market Revenue, 2012 – 2020 (USD Million)

FIG. 21 RoW Medical Equipment Calibration Services Market Revenue, 2012 – 2020 (USD Million)

FIG. 22 Transcat, Inc.: Annual Revenue, 2011 - 2013 (USD Million)

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