The global medical equipment management software market accounted for USD 2.77 billion in 2023 and is expected to reach at USD 7.86 billion by 2034 with a CAGR of 9.95% during the forecast period 2024-2034. Surge in number of hospitals and clinics, rising advancements in web-based & cloud-based software development technologies, increasing initiatives to promote the development of advanced software by governments, growing demand for compliance with regulatory standards, surge in approval of innovative solutions, increased collaborations among market players, and rising introduction of new medical equipment management software are some of the key factors boosting the market growth.
Rising introduction of new medical equipment management software is predicted to grow at the fastest CAGR during the forecast period. Medical equipment management software simplifies the maintenance and supervision of equipment, facilitating convenient access to asset records while guaranteeing risk management, adherence to regulations, and ensuring patient safety. For instance, in January 2023, Accord BioPharma, a pharmaceutical company based in the United States known for manufacturing and distributing generic, biosimilar, and value-added medications, introduced AccordConnects, a novel mobile app and web-based inventory management system. This innovative software aims to assist healthcare facilities in monitoring their inventory of Accord BioPharma treatments.
By software type, integrated software was the highest revenue-grossing segment in the global medical equipment management software market in 2023 owing to its capacity to meet the changing requirements of healthcare institutions comprehensively enhances operational effectiveness, decreases expenses, & guarantees compliance with regulations, growing demand for integrated solutions that seamlessly merge with existing infrastructure in healthcare facilities, and increase in collaborations among industry participants. For instance, in May 2022, eLabNext has declared its collaboration with Tetra Partner Network to enhance laboratory productivity using its systems for tracking inventory and managing protocols. Additionally, standalone software is predicted to grow at the fastest CAGR during the forecast period owing to the growing demand among healthcare facilities for portable applications and surge in technological advancements.
By deployment mode, cloud-based was the highest revenue-grossing segment in the global medical equipment management software market in 2023 owing to the healthcare sector is experiencing a rise in the adoption of cloud-based services, and increase in product launches by major industry players. For instance, in March 2022, Microsoft introduced its Azure Health Data Services platform, which is cloud-based, for use by healthcare organizations. Additionally, web-based is predicted to grow at the fastest CAGR during the forecast period owing to the rising emphasis on developing technologically sophisticated web-based medical equipment management software, and increasing partnerships among industry participants.
By end-user, hospitals was the highest revenue-grossing segment in the global medical equipment management software market in 2023 owing to the surge in the uptake of advanced software solutions for streamlined equipment management in hospitals, increasing need for integrated systems capable of managing the complexities of healthcare equipment maintenance, asset tracking, & compliance monitoring, and rise in the introduction of innovative solutions. For instance, in May 2022, Ordr unveiled Clinical Defender, a tool designed to assist Healthcare Technology Management (HTM) teams in effectively and precisely handling connected medical devices. Additionally, clinics is predicted to grow at the fastest CAGR during the forecast period owing to the expansion in healthcare infrastructure, increase in technological advancements, and rising uptake of cloud-based solutions.
North America region is anticipated for the highest revenue share during the forecast period owing to the well-established infrastructure, high prevalence of medical equipment management software adoption, the presence of key market players, growing number of hospitals & clinics in the region, and uptick in the introduction of innovative solutions. For instance, in June 2022, Syft, a subsidiary of GHX renowned for its healthcare inventory control and comprehensive supply chain management software and services, has launched Syft Synergy 4.5. This version offers improvements to the supply chain management software platform, featuring a revamped mobile app interface that streamlines supply receiving and distribution processes. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the healthcare sector is experiencing rapid expansion, increasing investments in infrastructure & services, rising demand for advanced equipment management solutions, growing awareness of their importance, increasing adoption of digital technologies in healthcare, and surge in the launch of advanced platforms. For instance, in January 2024, India introduced the National Single Window System (NSWS) to simplify the processes of importing, conducting clinical investigations, and testing medical devices.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Rising introduction of new medical equipment management software is predicted to grow at the fastest CAGR during the forecast period. Medical equipment management software simplifies the maintenance and supervision of equipment, facilitating convenient access to asset records while guaranteeing risk management, adherence to regulations, and ensuring patient safety. For instance, in January 2023, Accord BioPharma, a pharmaceutical company based in the United States known for manufacturing and distributing generic, biosimilar, and value-added medications, introduced AccordConnects, a novel mobile app and web-based inventory management system. This innovative software aims to assist healthcare facilities in monitoring their inventory of Accord BioPharma treatments.
By software type, integrated software was the highest revenue-grossing segment in the global medical equipment management software market in 2023 owing to its capacity to meet the changing requirements of healthcare institutions comprehensively enhances operational effectiveness, decreases expenses, & guarantees compliance with regulations, growing demand for integrated solutions that seamlessly merge with existing infrastructure in healthcare facilities, and increase in collaborations among industry participants. For instance, in May 2022, eLabNext has declared its collaboration with Tetra Partner Network to enhance laboratory productivity using its systems for tracking inventory and managing protocols. Additionally, standalone software is predicted to grow at the fastest CAGR during the forecast period owing to the growing demand among healthcare facilities for portable applications and surge in technological advancements.
By deployment mode, cloud-based was the highest revenue-grossing segment in the global medical equipment management software market in 2023 owing to the healthcare sector is experiencing a rise in the adoption of cloud-based services, and increase in product launches by major industry players. For instance, in March 2022, Microsoft introduced its Azure Health Data Services platform, which is cloud-based, for use by healthcare organizations. Additionally, web-based is predicted to grow at the fastest CAGR during the forecast period owing to the rising emphasis on developing technologically sophisticated web-based medical equipment management software, and increasing partnerships among industry participants.
By end-user, hospitals was the highest revenue-grossing segment in the global medical equipment management software market in 2023 owing to the surge in the uptake of advanced software solutions for streamlined equipment management in hospitals, increasing need for integrated systems capable of managing the complexities of healthcare equipment maintenance, asset tracking, & compliance monitoring, and rise in the introduction of innovative solutions. For instance, in May 2022, Ordr unveiled Clinical Defender, a tool designed to assist Healthcare Technology Management (HTM) teams in effectively and precisely handling connected medical devices. Additionally, clinics is predicted to grow at the fastest CAGR during the forecast period owing to the expansion in healthcare infrastructure, increase in technological advancements, and rising uptake of cloud-based solutions.
North America region is anticipated for the highest revenue share during the forecast period owing to the well-established infrastructure, high prevalence of medical equipment management software adoption, the presence of key market players, growing number of hospitals & clinics in the region, and uptick in the introduction of innovative solutions. For instance, in June 2022, Syft, a subsidiary of GHX renowned for its healthcare inventory control and comprehensive supply chain management software and services, has launched Syft Synergy 4.5. This version offers improvements to the supply chain management software platform, featuring a revamped mobile app interface that streamlines supply receiving and distribution processes. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the healthcare sector is experiencing rapid expansion, increasing investments in infrastructure & services, rising demand for advanced equipment management solutions, growing awareness of their importance, increasing adoption of digital technologies in healthcare, and surge in the launch of advanced platforms. For instance, in January 2024, India introduced the National Single Window System (NSWS) to simplify the processes of importing, conducting clinical investigations, and testing medical devices.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Software Type, Deployment Mode, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
Segmentation: Medical Equipment Management Software Market Report 2023 - 2034
Medical Equipment Management Software Market Analysis & Forecast by Software Type 2023 - 2034 (Revenue USD Bn)
- Standalone Software
- Integrated Software
Medical Equipment Management Software Market Analysis & Forecast by Deployment Mode 2023 - 2034 (Revenue USD Bn)
- Web-Based
- Cloud-Based
Medical Equipment Management Software Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Other
Medical Equipment Management Software Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Medical Equipment Management Software Market: Software Type Estimates & Trend Analysis
8. Medical Equipment Management Software Market: Deployment Mode Estimates & Trend Analysis
9. Medical Equipment Management Software Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Medical Equipment Management Software Market
12. Europe Global Medical Equipment Management Software Market
13. Asia Pacific Global Medical Equipment Management Software Market
14. Latin America Global Medical Equipment Management Software Market
15. MEA Global Medical Equipment Management Software Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Hybrent Inc. a Procurement Partners Company
- Service Works Global
- Crothall Healthcare
- EZOfficeInventory
- CrelioHealth Inc.
- Mymediset
- eTurns Inc.
- Fortunesoft
- eLabNext
- Innomaint
