The Medical Equipment Third-Party Calibration Services Market Size is valued at USD 604.3 million in 2023 and is predicted to reach USD 1166.5 million by the year 2031 at a 8.8% CAGR during the forecast period for 2024-2031.
Third-party calibration services for medical equipment involve independent professionals verifying and correcting medical devices to ensure accuracy and precision and implementing rules to guarantee patient safety and quality of treatment. Several factors are driving the market's expansion, including the growing spending on medical facilities and developments in healthcare technology. The market for medical equipment third-party calibration services is expected to increase due to the professional calibration services required for the ever-increasing complexity of medical equipment. Rising healthcare costs and worries concerning patient safety are other factors driving need. Healthcare facilities are also interested in outsourcing because of the cost savings it provides, and new opportunities are emerging as a result of investments in infrastructure and technological developments. The demand for accurate and dependable medical equipment calibration is also driving the market due to the increasing demand for precision medicine.
However, the market's expansion is hindered by the stringent regulatory standards of medical equipment third-party calibration services, and medical institutions with smaller budgets are not able to afford the more sophisticated medical equipment third-party calibration services. The need for third-party calibration services for medical equipment surged during the COVID-19 epidemic. Healthcare facilities made sure that vital equipment, including ventilators, was accurate. Services were momentarily delayed due to the crisis as a result of supply chain problems and restricted facility access. Furthermore, clinical laboratories are increasingly turning to professional third-party suppliers for calibration services in order to stay compliant and guarantee that their devices are performing at their best, all because of the strict regulations and ever-increasing healthcare standards.
The medical equipment third-party calibration services market is segmented based on end-use.The end-user segment comprises hospitals, clinical laboratories, and others. The hospital segment includes Electrical, Radio Frequency (RF), Temperature, Humidity, Pressure, and Others
The hospital in the medical equipment third-party calibration services market is expected to hold a major global market share in 2023. Because of the rising need for accurate and dependable medical devices, strict rules, and more people using new technologies, hospitals outsource calibration services to ensure that a wide range of medical equipment is accurate, safe, and of the same high quality.
The clinical laboratories segment is growing in the medical equipment third-party calibration services market because reliable diagnostic tools are essential for accurate testing. To keep their equipment accurate and performing at its best, laboratories outsource calibration services. This is driven by regulatory compliance, rising healthcare standards, and the adoption of innovative technology.
The North American medical equipment third-party calibration services market is expected to note the highest market share in revenue shortly. It can be attributed to major industry players, the highly developed healthcare system, strict regulations, and extensive use of innovative medical equipment. In addition, Europe is likely to grow rapidly in the global medical equipment third-party calibration services market because healthcare spending is on the rise, more people are realizing the value of precise equipment, and the demand for cutting-edge medical technologies is also on the rise. Moreover, calibration services are in high demand due to factors such as healthcare infrastructure expansion and strict regulatory criteria.
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 604.3 Mn |
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Revenue Forecast In 2031 |
USD 1,166.5 Mn |
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Growth Rate CAGR |
CAGR of 8.8% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By End-User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
NorthLab Pvt.Ltd, TÜV SÜD’s calibration laboratory, Al Borg Diagnostics, Abdulminam Ibrahim Al Mohaisin Contracting, Allometrics Inc., The Calibration Company, Copper Mountain Technologies, LotusWorks, ACS-Calibration, NicolScales, Aries e-Solutions, and Applus+ |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Medical Equipment Third Party Calibration Services Market Snapshot
Chapter 4. Global Medical Equipment Third Party Calibration Services Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Porter's Five Forces Analysis
4.7. Incremental Opportunity Analysis (US$ MN), 2024-2031
4.8. Global Medical Equipment Third Party Calibration Services Market Penetration & Growth Prospect Mapping (US$ Mn), 2023-2031
4.9. Competitive Landscape & Market Share Analysis, By Key Player (2023)
4.10. Use/impact of AI on Medical Equipment Third Party Calibration Services Industry Trends
Chapter 5. Medical Equipment Third Party Calibration Services Market Segmentation 1: By End User, Estimates & Trend Analysis
5.1. Market Share by End User, 2023 & 2031
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following End User:
5.2.1. Hospitals
5.2.1.1. Electrical
5.2.1.2. Radio Frequency (RF)
5.2.1.3. Temperature
5.2.1.4. Humidity
5.2.1.5. Pressure
5.2.1.6. Others
5.2.2. Clinical Laboratories
5.2.3. Others
Chapter 6. Medical Equipment Third Party Calibration Services Market Segmentation 2: Regional Estimates & Trend Analysis
6.1. Global Medical Equipment Third Party Calibration Services Market, Regional Snapshot 2023 & 2031
6.2. North America
6.2.1. North America Medical Equipment Third Party Calibration Services Market Revenue (US$ Million) Estimates and Forecasts by Country, 2024-2031
6.2.1.1. US
6.2.1.2. Canada
6.2.2. North America Medical Equipment Third Party Calibration Services Market Revenue (US$ Million) Estimates and Forecasts by End User, 2024-2031
6.3. Europe
6.3.1. Europe Medical Equipment Third Party Calibration Services Market Revenue (US$ Million) Estimates and Forecasts by Country, 2024-2031
6.3.1.1. Germany
6.3.1.2. U.K.
6.3.1.3. France
6.3.1.4. Italy
6.3.1.5. Spain
6.3.1.6. Rest of Europe
6.3.2. Europe Medical Equipment Third Party Calibration Services Market Revenue (US$ Million) Estimates and Forecasts by End User, 2024-2031
6.4. Asia Pacific
6.4.1. Asia Pacific Medical Equipment Third Party Calibration Services Market Revenue (US$ Million) Estimates and Forecasts by Country, 2024-2031
6.4.1.1. India
6.4.1.2. China
6.4.1.3. Japan
6.4.1.4. Australia
6.4.1.5. South Korea
6.4.1.6. Hong Kong
6.4.1.7. Southeast Asia
6.4.1.8. Rest of Asia Pacific
6.4.2. Asia Pacific Medical Equipment Third Party Calibration Services Market Revenue (US$ Million) Estimates and Forecasts by End User, 2024-2031
6.5. Latin America
6.5.1. Latin America Medical Equipment Third Party Calibration Services Market Revenue (US$ Million) Estimates and Forecasts by Country, 2024-2031
6.5.1.1. Brazil
6.5.1.2. Mexico
6.5.1.3. Rest of Latin America
6.5.2. Latin America Medical Equipment Third Party Calibration Services Market Revenue (US$ Million) Estimates and Forecasts by End User, 2024-2031
6.6. Middle East & Africa
6.6.1. Middle East & Africa Medical Equipment Third Party Calibration Services Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
6.6.1.1. GCC Countries
6.6.1.2. Israel
6.6.1.3. South Africa
6.6.1.4. Rest of Middle East and Africa
6.6.2. Middle East & Africa Medical Equipment Third Party Calibration Services Market Revenue (US$ Million) Estimates and Forecasts by End User, 2024-2031
Chapter 7. Competitive Landscape
7.1. Major Mergers and Acquisitions/Strategic Alliances
7.2. Company Profiles
7.2.1. NorthLab (India) Pvt.Ltd
7.2.1.1. Business Overview
7.2.1.2. Key Product/Service Offerings
7.2.1.3. Financial Performance
7.2.1.4. Geographical Presence
7.2.1.5. Recent Developments with Business Strategy
7.2.2. TÜV SÜD's calibration laboratory
7.2.3. Al Borg Diagnostics
7.2.4. Abdulminam Ibrahim Al Mohaisin Contracting
7.2.5. Allometrics Inc.
7.2.6. The Calibration Company
7.2.7. Copper Mountain Technologies
7.2.8. LotusWorks
7.2.9. ACS-Calibration
7.2.10. NicolScales
7.2.11. Aries e-Solutions
7.2.12. Applus+
7.2.13. Other Prominent Players
Medical Equipment Third-Party Calibration Services Market By End-Use-
Medical Equipment Third-Party Calibration Services Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
