Research Nester published a report titled “Life Care Solution Services Market: Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global life care solution services market in terms of market segmentation by product type, service provider, end-users, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global life care solution services market is anticipated to grow with a CAGR of ~7% during the forecast period, i.e. 2022-2031. The market is segmented by end-user into hospitals, clinics and others. Out of these, the hospital segment is anticipated to garner the highest revenue by 2031. The primary growth factor for the segment is the increase in the high number of hospitals in the world. In 2020, Colombia had the highest number of hospitals i.e. 10,900. In comparison, Japan had 8,240 and United States had 6,090 hospitals in the same period.

The global life care solution services market is estimated to garner a revenue of ~USD 3 billion by the end of 2031, up from a revenue of ~USD 2 billion in 2021. Recently, the focus on maintaining of medical equipment has gained importance. This process involves a designed program, where maintenance tasks are performed in a scheduled manner in order to avoid expensive and larger repairs down the line and also helps in reducing equipment downtime. The regular maintenance services confirm the efficient, safe, and long-lasting utilization of life care solutions. Thorough maintenance combined with proper use of life care medical solutions ensures increased availability and maximum efficiency at reasonable costs and satisfactory conditions of safety, quality, and environmental protection, thus expanding the life care solution services market in the forecast period.

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Geographically, the global life care solution services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America region is estimate to garner the largest market share by the end of 2031, on the back of increased rate of hospital construction, expansion in national health expenditure, high disposable income and considerable growth in GDP.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Rise in Healthcare Expenditure to Drive the Market Growth

The global life care solution services market is anticipated to grow owing to the high expenditure in health care solutions & services, growth in R&D funding by governments of various countries, increase in demand for surgeries, and rise in prevalence of chronic diseases. Further, the invention of technologically advanced devices in the recent period in order to cater to the increasing patient demand is an another growth factor that is expected to drive the market growth.

However, less amount of awareness, coupled with low adoption rate and less technological advancements in the developing countries is expected to operate as key restraints to the growth of the global life care solution services market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global life care solution services market which includes company profiling of Abbott Laboratories, Becton, Dickinson and Company, Nihon Kohden, General Electric Company, Hill-Rom Holdings, Inc., Masimo Österreich GmbH, Medtronic, Drägerwerk AG & Co. KGaA, Getinge AB, Natus Medical Incorporated and more. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global life care solution services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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