Focus on efficient and effective quality of treatment with utilization of medical devices is posing a big challenge to the medical device industry. Calibration service provider for medical device industry focused on development of innovative and sophisticated technology to perform calibration services of medical devices. Calibration of any device is an essential aspect of its maintenance and assurance of its quality. Calibration is a process in which a device, under test, is compared with a standard device (already calibrated) in order to determine the quality of results and effectiveness (of test device). A calibration service is a steadily growing market. This growth is influenced by many factors such as increasing government regulations for calibration, increasing awareness of society about the use of high quality devices, and growing preference of companies to use sophisticated calibration services as a part of preventive maintenance. Industry experts believe that medical equipment calibration services market is expected to revolutionize the medical device industry market making the service an integral part of medical devices utilized in hospitals, clinics and laboratories.
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Over the past few decades medical equipment calibration service is witnessing a paradigm shift from laboratory instrument calibration to sophisticated surgical equipment calibration. In present scenario, technology that is utilized for medical equipment calibration is improved significantly due to stringent regulatory environment and increasing focus of customers on product quality. Moreover, growth of calibration services market is directly proportional to increasing demand of new and refurbished medical equipment. However, modular instrumentation or self-calibrating devices are restraining the growth of the medical equipment calibration services market.
For the research study, Transparency Market Research have segmented the global medical equipment calibration services market on the basis of types of equipment that includes ventilators, imaging equipment, vital sign monitors, cardiovascular monitors, infusion pumps, fetal monitors and others. Imaging equipment segment was identified as the largest segment mainly attributed to high cost of calibration of technologically advanced imaging equipment and need of well-equipped and well trained personnel. Based on types of services, the market of medical equipment calibration services is segmented as in-house calibration services, third-party calibration services and original equipment manufacturer (OEM) calibration services. Amongst these, in-house calibration services segment accounted for the largest share due to quick turnaround time required for calibration, international accreditation and certification and government support. Transparency Market Research, a leading U.S.-based Market Research firm, estimated that the total medical equipment calibration services market is expected to reach an estimated value of USD 2,135.7 million by 2020.
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Currently, most players in the market are regional players and the business is restricted to domestic markets. Globalization has provided ample amount of opportunities for various businesses to expand presence in other geographies of the world. Similarly, service providers for these businesses get an opportunity to expand global footprint. This is expected to be one of the major opportunity for calibration service providers to expand business along with a loyal and long alliance customer in different geographies.
Thus, it can be securely concluded that the future of the medical equipment calibration services market holds immense potential for growth due to the introduction of innovative technology for product calibration. Moreover, private companies and government organizations have invested a huge amount in research and development activities to bring revolutionary persistent product in the market, which will further augment the uptake of these services.
Vendors who are operating in the global medical equipment calibration services market include Fluke Biomedical, Tektronix, Inc., NS Medical, STQC and others.
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