Key questions addressed in this Study:
# To define, describe, and forecast the European Medical Equipment Maintenance Industry 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.
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Factors Influencing Global Industry Growth:-
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.
Market Opportunities:
# Innovation in Service Offerings & Use of IoT
# Emergence of ISOS
Challenge:
# Survival of Players in a Highly Fragmented and Competitive Market
Upcoming Industry Trends:
# Market Consolidation
# Preference for Multi-Vendor Contracts
# Equipment Maintenance Insurance Tools for Imaging Centers
Industry’s Revenue Growth Expectations:
The European medical equipment maintenance 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.
Geographical Growth Scenario:
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.
Read More: https://www.marketsandmarkets.com/PressReleases/european-medical-equipment-maintenance.asp
Leading Market Players:
# GE Healthcare (U.S.)
# Koninklijke Philips N.V. (Netherlands)
# Siemens Healthineers (Germany)
# Toshiba Medical Systems Europe (Germany)
# Drägerwerk AG & Co. KGaA (Germany)
# TBS Group S.p.A. (Italy) and many more…
Partnerships, collaborations and agreements were the key growth strategies adopted by the market players to maintain and improve their position in the European medical equipment maintenance market. Mergers & acquisitions accounted for the second largest share of the overall growth strategy mapped from 2014-2017. Some of the leading players who adopted this strategy include Hitachi, Ltd. (Japan), Medtronic plc (Ireland), and Pantheon Healthcare Group (Italy).
