European Medical Equipment Maintenance Industry is Eyeing Surge In Revenue in Near Future

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This market is expected to reach USD 8.93 Billion by 2022 from USD 6.64 Billion in 2017, at a CAGR of 6.1% during the forecast period. The growth of the market is attributed to rising focus on preventive maintenance. Preventive maintenance is gaining prominence as planned inspections and medical device maintenance help avoid adverse incidents and medical-device related accidents. Regular maintenance services provided by OEMs, ISOs, or in-house service technicians ensure safe, efficient, and long-lasting use of medical devices. The growing focus on implementing preventive maintenance strategies among healthcare organizations is expected to offer growth opportunities for service providers in the coming years.

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Multi-year maintenance contract to dominate the market in 2017

Based on the type of contract, the European medical equipment market is segmented into multi-year maintenance contracts, and annual maintenance contracts. Among these, multi-year maintenance segment is expected to account for the largest share of the European medical equipment maintenance market. Hospitals with large budgets prefer long-term contracts to match the lifecycle of medical equipment and to avoid renegotiating of service contracts. Moreover, service providers are likely to provide some discount on the final amount for multiple-year contracts thus; multi-year contracts can offer potential cost benefits to providers.

The objectives of this study are as follows:

# To define, describe, and forecast the European medical equipment maintenance market by device, service, service provider, contract type, end user, and country

# To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)

# To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the market

# To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders

# To forecast the size of the market segments with respect to European countries, namely, Germany, Italy, U.K., France, Spain, and Rest of Europe (RoE)

# To profile key players and comprehensively analyze their product portfolios, market positions, and core competencies

# To track and analyze competitive developments such as agreements, partnerships, collaborations, mergers & acquisitions, and expansions in the European medical equipment maintenance market

On the basis of end user, private-sector organizations are to grow at the highest CAGR within the forecast period

By end user, the European medical equipment maintenance market is segmented into public sector organizations and private-sector organizations. In 2017, private-sector organizations are expected to register the highest CAGR during the forecast period. The increasing number of public- private partnerships is expected to boost the demand for medical equipment maintenance services in Europe.

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Germany to dominate the market followed by Italy

By region, the European medical equipment maintenance market is segmented into Germany, Italy, UK, France, Spain, and RoE. In 2017, Germany accounted for the largest share of the market; this regional segment is also expected to grow at highest CAGR during the forecast period, followed by Italy. The high growth of the German market is attributed to the factors such as the significant presence of OEMs, growing medical technology market, well-established healthcare infrastructure and large installation base of medical equipment. Italy is the second largest growing market, factors such as focus on value-based healthcare system, and strategic expansion of market players, are expected to fuel the market growth in this country.

Target Audience for this Report:

# Medical equipment manufacturers and suppliers

# Independent services organizations (ISOs)

# Healthcare institutions (hospitals and outpatient clinics)

# Academic institutes and universities

# Distributors and suppliers of electromedical equipment and services

# Research and consulting firms

The medical equipment maintenance market is highly competitive with the presence of both OEMs and ISOs. GE Healthcare (U.S.), Koninklijke Philips N.V. (Netherlands), Siemens Healthineers (Germany), Toshiba Medical Systems Europe (Germany), and Drägerwerk AG & Co. KGaA (Germany) are some of the leading OEMs; whereas, TBS Group S.p.A. (Italy), Alliance Medical Group (U.K.), Pantheon Group (Italy), Technologie Sanitarie S.p.A. (Italy), Avensys UK Ltd. (U.K.), and Grupo Empresarial Electromédico (Spain) are some of the leading ISOs operating in the European medical equipment maintenance market.

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