Managed Equipment Services (MES) Market By Engagement Model (On-Demand MES, End-To-End MES) - Growth, Share, Opportunities & Competitive Analysis, 2020 -2027

Managed equipment service refers to a specialized partnership with a third-party service provider that manages all medical equipment concerns, including purchase, ownership, provision, installation and 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 is typically for 10 to 25 years or even longer. This, however, significantly adds to the overall solution cost of MES.

The most significant factor fueling the MES market's 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-the-art equipment leads to humongous capital investments for the hospitals. Furthermore, due to changing demand and dynamic requirements for various healthcare services, medical equipment is becoming obsolete.

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 with a feasible way of procuring medical equipment and related services.

Implementing MES can save up to 20–25% of its overhead on equipment as compared to traditional manual management. Over a period of time, MES has witnessed significant adoption (mostly 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 rising overall healthcare I.T. 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, 2020–2027" offers strategic insights into the global managed equipment services market along with the market size and estimates for the duration of 2018–2027.

The said research study covers an in-depth analysis of market segments based on an engagement model and a cross-sectional study across different geographies and sub-geographical regions. The study covers the comparative analysis of different segments for the years 2019 and 2027. The report also provides a prolific view of 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 (Strengths, 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, Astral 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 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 2020 to 2027, 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

As of 2019, the global MES market was dominated by the end-to-end engagement model. The segment contributed to more than fifty percent of the global market revenue in the same year. End-to-end MES refers to a set of managed services that encompasses the entire service portfolio related to the equipment of any organization. Since these solutions include all of the equipment- and technology-related processes, consumer organizations have plenty of room for further streamlining their internal processes, thereby achieving significant cost savings.

Factors such as the need for comprehensive procurement of medical equipment and the inclusion of all types of associated services have contributed to the higher adoption of the end-to-end model among 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 geography, the global managed equipment services (MES) market is segmented into the following regions and countries:

  • North America
  • U.S.
  • rest of North America
  • Europe
  • U.K.
  • Germany
  • CIS
  • Rest of Europe
  • Asia Pacific
  • Japan
  • China
  • South Asia
  • Australasia
  • Rest of Asia Pacific
  • Middle East and Africa (MEA)
  • GCC countries
  • North Africa
  • South Africa
  • the remainder of MEA
  • Latin America
  • Brazil
  • Mexico
  • rest of Latin America

The global managed equipment services market is dominated, in terms of revenue and adoption, by the North American region. The region is mainly backed by the U.S., which has stringent regulations on healthcare facilities as well as organizations. Healthcare organizations and facilities across the U.S. and Canada have a strong penetration of MES solutions. The region witnesses the presence of 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. 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 also potential markets for MES solutions.

Frequently Asked Question:

The market for Managed Equipment Services Market is expected to reach USD$ XX in 2027.

The Managed Equipment Services Market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2020 -2027.

The base year of this report is 2019.

Siemens Healthcare GmbH, GE Healthcare, Toshiba Medical Systems Europe B.V., Koninklijke Philips NV.are of the major players in the global market.

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Published Date:  Mar 2017
Category:  Technology & Media
Report ID:   58373
Report Format:   PDF
Pages:   120
Rating:    4.7 (70)
Delivery Time: 24 Hours to 48 Hours   
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