Medical Equipment Third-Party Calibration Services Market Size, Share & Trends Analysis Report By End-User (Hospitals (Electrical, Radio Frequency (RF), Temperature, Humidity, Pressure, Others), Clinical Laboratories, Others), By Region, And By Segment Forecasts, 2024-2031

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.

Competitive Landscape

Some Major Key Players In The Medical Equipment Third-Party Calibration Services Market:

• 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
• Applus+
• Other Market Players

Market Segmentation:

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

Based On The End-User, The Hospital Segment Accounts For A Major Contributor To The Medical Equipment Third-Party Calibration Services Market.

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.

Clinical Laboratory Segments Are To Witness Rapid Growth.

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.

In The Region, The North American Medical Equipment Third-Party Calibration Services Market Holds A Significant Revenue Share.

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.

Recent Developments:

• In January 2024, India's IIT Madras unveiled a mobile facility for calibrating medical devices. This recently opened institution is working to reduce transit times and costs associated with calibration in an effort to provide scalable, inexpensive, and high-quality healthcare.

Medical Equipment Third-Party Calibration Services Market Report Scope

Segmentation of Medical Equipment Third-Party Calibration Services Market-

Medical Equipment Third-Party Calibration Services Market By End-Use-

• Hospitals
  • Electrical
  • Radio Frequency (RF)
  • Temperature
  • Humidity
  • Pressure
  • Others
• Clinical Laboratories
• Others

Medical Equipment Third-Party Calibration Services Market By Region-

North America-

• The US
• Canada
• Mexico

Europe-

• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-

• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-

• Brazil
• Argentina
• Rest of Latin America

 Middle East & Africa-

• GCC Countries
• South Africa
• Rest of the Middle East and Africa