Monday, 9 June 2014

Medical Equipment Calibration Services Market - Industry Research Report, 2013 – 2019

Calibration is the process of measuring and adjusting equipment against a reference standard with known values and measurement. Its aim is to minimize any measurement error by ensuring the precision and accuracy of the instrument in question. In the healthcare industry, calibration of medical equipment such as defibrillators, patient monitoring systems, ECG machines, pulse oximeters, thermometers, sphygmomanometers, infusion pumps, ventilators, vaccine refrigerators, weighing machines, nebulizers, spirometers, centrifuges, ultrasonic cleaners, blood glucose monitors and syringe pumps is required in order to ensure better patient safety. There are a large number of companies that provide calibration services to medical equipment manufacturers, hospitals, pharmacies, dentists and other alternate care centers. These companies provide on-site as well as in-laboratory calibration services. Medical equipment calibration service providers usually provide on-site services to sites with more than 10 devices as it helps them to earn significant profit margin.

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The market growth of medical equipment calibration services is attributed to factors such as growing concerns for patient safety, governmental legislation requiring proper equipment calibration and the rise in number of medical device companies. In healthcare industry, nothing counts above the patient safety; for that reason, equipment calibration cannot be ignored in this industry. In order to ensure equipment precision and accuracy, calibration process should meet the guidelines set by various regulatory bodies including Food and Drug Administration (FDA), American Society for Testing and Materials (ASTM), Clinical Laboratory Improvement Amendments (CLIA), Good Laboratory Practice (GLP), Good Manufacturing Practice (GMP) and QSR.

Intense competition among device manufacturers in order to ensure improved product outcomes also plays a key role in driving the market growth. Globally, rise in number of physician offices and other alternate care centers that usually keep devices like sphygmomanometer, infusion pumps and pulse oximeters is expected to further drive the market for medical equipment calibration services.

North America represents the largest market for medical equipment calibration services, followed by Europe. High level of awareness among healthcare fraternity, strict governmental regulation and the domiciliation of large number of medical device manufacturers in the region are among major factors responsible for North America to hold the leading position worldwide. Somewhat similar factors continue to contribute to the growth of medical calibration services market in the European region as well. Eastern Europe that consists of countries like Czech Republic, Poland, Hungary, Slovakia and Serbia, the market is expected to observe significant growth owing to emerging economies and growing medical device market, yet internal conflicts continue to restrain this considerably.

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In Asia-Pacific, Japan, Australia, India and China are the major markets that offer potential opportunities to companies operating in this industry. A large number of companies of this region export various medical devices to other countries across the globe including the United States, Canada, the U.K., Germany, Russia and South Africa, and to many other African countries.

The market for medical equipment calibration services is highly fragmented with large number of small scale companies. However, these companies are striving to accentuate their market share by increasing their capabilities. Fluke Biomedical Calibration Services, JM Test Systems, Tektronix, IN-CAL, PHS Compliance, NS Medical Systems, BIOMED Technologies, MediServe, SIQ and JPen Medical are some among other companies that offer calibration services for a wide range of medical testing equipment including infusion systems, blood pressure monitors, body temperature monitors, simulators, patient monitors, nebulizers, ECG machines and ventilators.

This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
  • North America
  • Asia Pacific
  • Europe
  • Rest of the World
This report provides comprehensive analysis of
  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for upcoming years

This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.

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1 comment:

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