Managed equipment service refers to a specialized partnership with a third-party service provider who manages all medical equipment concerns including purchase, ownership, provision, installation & maintenance, training, asset management, and others. Simply put, MES is a bundle of services comprising management, maintenance, replacement, and upgrades of equipment in an organization. The MES contract typically ranges over a period of 10-25 years or even longer. This, however, significantly adds up to the overall solution cost of MES.
The most significant factor fueling the MES market growth is the overall rising healthcare industry along with the penetration of high-tech medical devices, globally. Ongoing innovation and development of advanced medical equipment continue to offer healthcare organizations better capabilities and a higher level of accuracy in medical diagnostics and care delivery. However, the acquisition of the latest and state of art equipment leads to humongous capital investments for the hospitals. In addition, with dynamic requirements and changes in demand for various healthcare services, medical equipment is rendered to become short-lived.
Moreover, procurement, maintenance, and servicing of the latest medical equipment require detailed technical knowledge in various aspects such as product design, operation, capabilities, and functions. Thereby, hospitals face immense financial and technical challenges when it comes to maintaining an in-house team of experts for medical equipment procurement, maintenance, and replacement. MES has emerged as one of the most effective solutions providing healthcare organizations a feasible way of procuring medical equipment and related services.
Implementing MES can save up to 20-25% of its overheads on equipment as compared to traditional manual management. Over the period of time, MES has witnessed significant adoption (majorly in the U.S. and Western Europe) due to poor capital expenditure planning, insufficient service management, and the need for maintaining upgraded equipment in organizations. With the rising overall healthcare IT spending, the demand for MES is estimated to rise significantly during the forecast period.
The report titled “Global Managed Equipment Services Market-Growth, Future Prospects, and Competitive Analysis, 2020 - 2028” offers strategic insights into the global managed equipment services market along with the market size and estimates for the duration 2018 to 2028. The said research study covers an in-depth analysis of market segments based on the engagement model and cross-sectional study across different geographies and sub-geographical regions. The study covers the comparative analysis of different segments for the years 2019 & 2028. The report also provides a prolific view on market dynamics such as market drivers, restraints, and opportunities.
In order to help strategic decision-makers, the report also includes competitive profiling of the leading managed equipment services vendors, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments. Some of the major players profiled in the report are Siemens Healthcare GmbH, GE Healthcare, Toshiba Medical Systems Europe B.V., Koninklijke Philips NV, Stryker Corporation, Cardiac Services, Inc., Olympus Corporation, Healthcare Technologies International, Asteral Ltd., ClearMedi Healthcare Pvt. Ltd., Serco Group and others.
Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global managed equipment services market, offering market size and estimates for the period from 2018 to 2028, keeping in mind the above-mentioned factors.
Based on the engagement models, the global managed equipment services (MES) market is segmented into the following categories
In 2019, the global MES market was dominated by the end-to-end engagement model. The segment contributed to more than 50% of the global market revenue in the same year. End-to-end MES refers to a set of managed services that encompass the entire service portfolio related to the equipment of any organization. Since these solutions include all of the equipment/technology-related processes, consumer organizations have a large room for further streamlining their internal processes thereby achieving significant cost savings.
Factors such as the need for comprehensive procurement of medical equipment along with the inclusion of all types of services associated have led to the higher adoption of the end-to-end model among the hospitals. However, with changing medical requirements and technological advancements in medical devices, the on-demand engagement model for various MES contracts is expected to witness strong growth during the forecast period.
Based on the geography, the global managed equipment services (MES) market is segmented as per the following regions and countries.
In 2019, the global managed equipment services market was dominated, in terms of revenue and adoption, by the North American region. The region is mainly backed by the U.S. having stringent regulations on healthcare facilities as well as organizations. Healthcare organizations and facilities across the U.S. and Canada have strong penetration of MES solutions. The region has the presence of the two major Europe-based companies viz. Siemens Healthineers and Koninklijke Philips NV.
Europe follows North America, in terms of revenue and adoption, accounting for the second-largest share, worldwide. The two regions, collectively, are estimated to retain their dominant position in the market throughout the forecast period. The Asia Pacific is estimated to register the highest growth in the coming years. The market here is largely backed by Japan, South Korea, and Australia. India and China are potential markets for MES solutions.
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The most significant factor fueling the MES market growth is the overall rising healthcare industry along with the penetration of high-tech medical devices, globally. Ongoing innovation and development of advanced medical equipment continue to offer healthcare organizations better capabilities and a higher level of accuracy in medical diagnostics and care delivery. However, the acquisition of the latest and state of art equipment leads to humongous capital investments for the hospitals. In addition, with dynamic requirements and changes in demand for various healthcare services, medical equipment is rendered to become short-lived.
Moreover, procurement, maintenance, and servicing of the latest medical equipment require detailed technical knowledge in various aspects such as product design, operation, capabilities, and functions. Thereby, hospitals face immense financial and technical challenges when it comes to maintaining an in-house team of experts for medical equipment procurement, maintenance, and replacement. MES has emerged as one of the most effective solutions providing healthcare organizations a feasible way of procuring medical equipment and related services.
Implementing MES can save up to 20-25% of its overheads on equipment as compared to traditional manual management. Over the period of time, MES has witnessed significant adoption (majorly in the U.S. and Western Europe) due to poor capital expenditure planning, insufficient service management, and the need for maintaining upgraded equipment in organizations. With the rising overall healthcare IT spending, the demand for MES is estimated to rise significantly during the forecast period.
The report titled “Global Managed Equipment Services Market-Growth, Future Prospects, and Competitive Analysis, 2020 - 2028” offers strategic insights into the global managed equipment services market along with the market size and estimates for the duration 2018 to 2028. The said research study covers an in-depth analysis of market segments based on the engagement model and cross-sectional study across different geographies and sub-geographical regions. The study covers the comparative analysis of different segments for the years 2019 & 2028. The report also provides a prolific view on market dynamics such as market drivers, restraints, and opportunities.
In order to help strategic decision-makers, the report also includes competitive profiling of the leading managed equipment services vendors, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments. Some of the major players profiled in the report are Siemens Healthcare GmbH, GE Healthcare, Toshiba Medical Systems Europe B.V., Koninklijke Philips NV, Stryker Corporation, Cardiac Services, Inc., Olympus Corporation, Healthcare Technologies International, Asteral Ltd., ClearMedi Healthcare Pvt. Ltd., Serco Group and others.
Other in-depth analysis provided in the report includes:
- Current and future market trends to justify the forthcoming attractive markets within the managed equipment services industry
- Market fuelers, market impediments, and their impact on the market growth
- In-depth competitive environment analysis
- Trailing 2-Year market size data (2018 - 2019)
- SRC (Segment-Region-Country) Analysis
Overall, the research study provides a holistic view of the global managed equipment services market, offering market size and estimates for the period from 2018 to 2028, keeping in mind the above-mentioned factors.
Based on the engagement models, the global managed equipment services (MES) market is segmented into the following categories
- On-demand MES
- End-to-end MES
In 2019, the global MES market was dominated by the end-to-end engagement model. The segment contributed to more than 50% of the global market revenue in the same year. End-to-end MES refers to a set of managed services that encompass the entire service portfolio related to the equipment of any organization. Since these solutions include all of the equipment/technology-related processes, consumer organizations have a large room for further streamlining their internal processes thereby achieving significant cost savings.
Factors such as the need for comprehensive procurement of medical equipment along with the inclusion of all types of services associated have led to the higher adoption of the end-to-end model among the hospitals. However, with changing medical requirements and technological advancements in medical devices, the on-demand engagement model for various MES contracts is expected to witness strong growth during the forecast period.
Based on the geography, the global managed equipment services (MES) market is segmented as per the following regions and countries.
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Rest of the World
- Latin America
- Middle East and Africa
In 2019, the global managed equipment services market was dominated, in terms of revenue and adoption, by the North American region. The region is mainly backed by the U.S. having stringent regulations on healthcare facilities as well as organizations. Healthcare organizations and facilities across the U.S. and Canada have strong penetration of MES solutions. The region has the presence of the two major Europe-based companies viz. Siemens Healthineers and Koninklijke Philips NV.
Europe follows North America, in terms of revenue and adoption, accounting for the second-largest share, worldwide. The two regions, collectively, are estimated to retain their dominant position in the market throughout the forecast period. The Asia Pacific is estimated to register the highest growth in the coming years. The market here is largely backed by Japan, South Korea, and Australia. India and China are potential markets for MES solutions.
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Table of Contents
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
Chapter 4 Global Managed Equipment Services Market Analysis
Chapter 5 North America Managed Equipment Services Market Analysis
Chapter 6 Europe Managed Equipment Services Market Analysis
Chapter 7 Asia Pacific Managed Equipment Services Market Analysis
Chapter 8 Middle East & Africa (MEA) Managed Equipment Services Market Analysis
Chapter 9 Latin America Managed Equipment Services Market Analysis
Chapter 10 Company Profiles
List of Figures
List of Tables
Companies Mentioned
- Siemens Healthcare GmbH (Siemens Healthineers)
- GE Healthcare
- Koninklijke Philips NV.
