(PharmaNewsWire.Com, October 15, 2020 ) The growth of the Europe Medical Equipments Maintenance 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.
The European medical equipment maintenance market is expected to reach USD 8.93 Billion by 2022 from USD 6.29 in 2016, at a CAGR of 6.1% during the forecast period. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.
The study estimates the Europe Medical Equipments Maintenance Market size for 2017 and projects its demand till 2022. In the primary research process, various sources from both demand side and supply side were interviewed to obtain qualitative and quantitative information of the report. Primary Sources from the demand side include various industry CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from the various original equipment manufacturers (OEMs) and independent service organizations (ISOs) in the medical equipment maintenance and services market.
Primary sources from the demand include hospital purchase managers, radiologists, and physicians from reputed hospitals. For market estimation process both top-down and bottom-up approaches were used to estimate and validate the market size of the European medical equipment maintenance market as well as to estimate the market size of various other dependent submarkets.
All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data is consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.
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.
The Europe Medical Equipments Maintenance Market is dominated by Germany, followed by Italy. Germany dominated the market in 2017 and is also poised to grow at highest CAGR during the forecast period. Factors such as large installation base of medical equipment, significant presence of OEMs, well-established healthcare infrastructure, and growing medical technology market are some of the key factors driving the growth of market in this region
The European 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), 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. Despite the positive outlook for the market growth in the Europe, budgetary constraints pose a significant challenge for the market growth in coming years.
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