Rising Strategic Initiatives by Market Players are driving the growth of the Medical Device Service Market at a CAGR of 9.08 % during the forecast period 2025 to 2035

Market Research Future (MRFR) has published a cooked research report on the “Global Medical Device Service Market” that contains the information from 2019 to 2035.

 The Global Medical Device Service Market is estimated to register a CAGR of 9.08 % during the forecast period of 2025 to 2035.

MRFR recognizes the following companies as the key players in the Global Medical Device Service Market — GE HealthCare, Medtronic, Koninklijke Philips N.V., Agiliti Health, Inc., Carestream Health, Drägerwerk AG & Co. KGaA, Canon Medical Systems Corporation, Stryker, Siemens Healthineers AG, LTE Scientific Ltd., and others.

The Global Medical Device Service Market accounted for registering a CAGR of 9.08% during the forecast period and is estimated to reach USD 131.63 billion by 2035.

The increasing incidence of various diseases is significantly driving growth in the global medical device service market. As the prevalence of chronic and acute health conditions rises, there is a corresponding surge in the use of medical devices such as diagnostic imaging equipment, ventilators, and life support systems and these devices require regular maintenance and prompt repairs to ensure they operate efficiently and reliably.

Further, 4.47 million in Europe, 2.67 million in Northern America, 1.55 million in Latin America and the Caribbean, 1.19 million in Africa, and 0.27 million in Oceania in 2022. Further, developing nations such as India also reported a high incidence of cancer which necessitates robust healthcare infrastructure, including well-maintained medical devices which is contributing to the growth of the global medical device services market. Additionally, as per the American Lung Association, there were about 30,000 people with cystic fibrosis in the US and nearly 70,000 people worldwide in 2022. Furthermore, increasing incidences of neurological conditions such as Alzheimer’s, Parkinson’s, and others are playing a pivotal role in fueling the global medical device service market. As per the World Health Organization estimates, approximately 55 million people were suffering from dementia worldwide in 2023, over 60% of whom live in low- and middle-income countries. Similarly, Biogen International GmbH reported that nearly 14.1 million people were living with dementia in 2019, which accounts for the second-highest prevalence worldwide. Thus, the high prevalence of dementia will increase the demand for advanced medical devices such as MRI, PET, and CT and their consistent maintenance.

The heightened demand for medical devices necessitates robust maintenance and repair services to minimize downtime and ensure optimal performance. Hospitals and healthcare facilities are investing more in these services to comply with stringent regulatory standards and to avoid costly disruptions in patient care. Additionally, the complexity and high cost of modern medical devices make regular maintenance and timely repairs critical for extending their lifespan and maintaining accuracy in diagnostics and treatment.

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Segmental Analysis

The Global Medical Device Service Market has been segmented based on by Device Type, by Service Type, by End-User.

Based on Device Type, this segment includes Diagnostics Imaging Equipment (X-Ray (Image-guided surgery (IGS), Bone mineral density (BMD, Mammography, Radiographic/fluoroscopy (R/F), Others), Ultrasound (Diagnostic Ultrasound Systems (2D Imaging Systems, 3D/4D Imaging Systems, Doppler Imaging), Therapeutic Ultrasound Systems (High-Intensity Focused Ultrasound, Extracorporeal Shockwave Lithotripsy)), MRI (Low-field Systems, High-field Systems , Medium-field Systems), CT (High Slice, Mid Slice, Low Slice, Cone Beam Computed Tomography (CBCT)), Nuclear Imaging (PET/SPECT) (PET (Full Ring PET Scanners, Partial Ring PET Scanners), SPECT (Standalone, Hybrid))), Others), Patient Care Products (Ventilators, Anesthesia Monitoring Equipment, Maternal Infant Care (Infant and Neonatal Ventilator, Neonatal Resuscitation System, Other Maternal Infant Care Devices), Other Patient Care Products), Others. 

The Diagnostics Imaging Equipment segment dominated the global market in 2024, while it is projected to be the fastest–growing segment during the forecast period. The need for regular maintenance, calibration, and software updates for complex imaging equipment, such as MRI, CT scanners, and ultrasound machines, is a key driver. Rising chronic disease cases and an aging population further boost the demand for diagnostic services, requiring well-maintained equipment. According to the Science and Medicine Group, the share of service-related expenditures with third-party service providers has risen from 36% in 2019 to 50% by 2022. The modalities with the highest service-related costs are CT, X-ray, MRI, ultrasound, and mammography.

Based on Service Type, this segment includes Preventive Service, Corrective Service, Operational Service. The Corrective Service segment dominated the global market in 2024, while the Preventive Service segment is projected to be the fastest–growing segment during the forecast period. Corrective services, which address device malfunctions and repairs, are crucial to minimizing downtime and ensuring patient safety. As healthcare facilities adopt more sophisticated devices, the demand for corrective maintenance rises, particularly in North America and rapidly expanding Asia-Pacific markets.

Based on End-User, this segment includes Hospitals, Ambulatory Surgical Centers, Diagnostic Imaging Centers, Others. The Hospitals segment dominated the global market in 2024, while the Diagnostic Imaging Centers segment is projected to be the fastest–growing segment during the forecast period. Hospitals rely on comprehensive service and maintenance solutions to ensure that devices, such as imaging systems, ventilators, and surgical instruments, operate optimally and comply with safety standards. The market growth is fueled by advancements in medical technology, rising demand for preventive and corrective maintenance, and stringent regulatory requirements which will drive the demand for the global medical device service market.

Regional Analysis

Geographically, the Global Medical Device Service Market has been segmented into North America, Europe, Asia-Pacific and Rest of the World.

Major demand factors driving the North America market are the increasing incidences of various Diseases across the Globe and Rising Strategic Initiatives by Market Players. The US accounts for a relatively high share and is likely to continue contributing sizably to the North America market in the coming years. An aging population in North America contributes to the rising demand for medical devices, including diagnostic machines, surgical instruments, and home healthcare devices. Older adults are more likely to require continuous medical monitoring and intervention, escalating the need for effective maintenance services to ensure device uptime and reliability. According to the World Bank, in 2023, people aged over 65 years old across the US accounted for 17.6% of the total population, which had increased from 11.8% in 1985. Similarly, as per the U.S. Census Bureau, the population aged 65 and older is projected to reach 77 million by 2034, surpassing the number of children for the first time in U.S. history, which increases the maintenance requirements in hospitals and care homes.

The Europe medical device maintenance market is substantial, driven by a large population with increasing healthcare needs. This growth is fueled by the rising prevalence of chronic diseases, an aging population, and advancements in medical technologies. The market is expected to experience steady growth as hospitals and clinics invest more in maintaining existing medical equipment to ensure operational efficiency and patient safety. The Europe medical device service market is relatively highly regulated, with the Medical Device Regulation (MDR), which went fully into effect in May 2021. These regulate the maintenance and servicing process so that medical equipment is safe and effective. Compliance with these regulations is critical for manufacturers and service providers in the region, thus driving demand for maintenance services.

Rapid growth in the medical device service market in Asia-Pacific is attributed to expanding healthcare infrastructure in countries such as China, India, and Japan. The government initiatives focusing on enhancing healthcare access and services, like India's Ayushman Bharat program, tend to fuel demand for medical devices and the associated maintenance services. According to the Ministry of Commerce and Industry, Government of India, India's healthcare sector will expand to USD 638 billion by 2025. Due to this, there is a growing demand for medical device services. Cost-effective service offerings represent a key trend for the region and preventive maintenance is one service particularly in demand as it is cost-effective. The adoption of telemedicine and digital health solutions, especially in the rural sector, fuels the need for outsourced remote operational and corrective services.

The medical device service market in the rest of the world region is growing due to increasing healthcare investments and infrastructure development. Countries like Brazil and Saudi Arabia are significantly boosting their healthcare sectors, leading to rising demand for medical devices and their maintenance services. There are also emerging markets in Latin America and Africa, where investment is perceived to increase.

Key Findings of the Study

• The Global Medical Device Service Market is expected to reach USD 131.83 billion by 2035, at a CAGR of 9.08% during the forecast period.


• The North America region accounted for the fastest-growing global market.


• Based on the Service Type, the Corrective Service segment was attributed to holding the largest market in 2024.


• GE HealthCare, Medtronic, Koninklijke Philips N.V., Agiliti Health, Inc., Carestream Health, Drägerwerk AG & Co. KGaA, Canon Medical Systems Corporation, Stryker, Siemens Healthineers AG, LTE Scientific Ltd., are some of the players in the market.