European Medical Equipment Maintenance Market - Emerging Trends to Boost Industry Revenue


Posted June 23, 2022 by vmack2187

The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, fundamental market dynamics, and key player strategies.
 
Research Methodologies Followed for This Study:

Primary Research:

Primary research was conducted after acquiring extensive knowledge about the European Medical Equipment Maintenance Market scenario through secondary research. Primary interviews were conducted with market experts from both the demand-side (such as hospitals, surgical centers, orthopedic clinics, dental clinics, CROs, CMOs, academic institutions, and medical device companies among others) and supply-side respondents (such as presidents, CEOs, vice presidents, directors, general managers, service manage, biomedical engineers, heads of business units, and senior managers) across major countries, namely, Germany, UK, France, Italy, Spain, Poland, Austria and Switzerland, Baltic Countries (Estonia, Latvia, and Lithuania), Benelux Countries (Includes Belgium, Netherlands, And Luxembourg), Scandinavian Countries ( Include Denmark, Norway, Sweden, Iceland, Finland) and Rest of Europe (RoE).

Secondary Research:

The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B), white papers, annual reports, companies house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the European Medical Equipment Maintenance market. A database of the key industry leaders was also prepared using secondary research.

Emerging Revenue Growth Dynamics:

The European medical equipment maintenance market is projected to reach USD 19.0 billion by 2026 from USD 12.2 billion in 2021, at a CAGR of 9.3% during the forecast period.

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Major Growth Driving Factors:

The expanding patient population, rising focus on early diagnosis, growing number of diagnostic imaging procedures, presence of a large number of OEMs, and strategic agreements and collaborations between service providers and end users are the major factors driving the growth of the European medical equipment maintenance market.

Market Estimation Methodology:

A detailed market estimation approach was followed to estimate and validate the size of the European Medical Equipment Maintenance market and other dependent submarkets.

# The key players in the European Medical Equipment Maintenance market were identified through secondary research, and their European market shares were determined through primary and secondary research.

# The research methodology includes the study of the annual and quarterly financial reports of the top market players as well as interviews with industry experts for key insights on the European Medical Equipment Maintenance market.

# All percentage shares, splits, and breakdowns were determined by using secondary sources and verified through primary sources.

# All the possible parameters that affect the market segments 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.

The above-mentioned data was consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.

Opportunity: Emergence of ISOs

The medical equipment maintenance and services sector was initially dominated by OEMs. However, OEMs typically charge more than third-party vendors, and often take longer for maintenance, resulting in higher associated costs as well as downtime. This situation, especially given the backdrop of continuing austerity measures and the need for cost-curtailment in European healthcare systems, has led to the emergence of ISOs dedicated to solely providing maintenance services.

Challenge: Survival of players in a highly fragmented and competitive market

The European medical equipment maintenance market is highly fragmented and competitive and comprises a broad range of players, including multinational companies and small local players. The high capital required in retaining biomedical engineers, logistics of medical devices, and regulatory approval make it difficult for several companies (especially start-ups and small organizations) to sustain their presence in the industry.

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By End User, the hospitals segment accounted for the largest share of the European medical equipment maintenance market in 2020

Based on End User, the European medical equipment maintenance market has been segmented into the hospitals, diagnostic imaging centers, dialysis centers, ambulatory surgical centers, dental clinics & specialty clinics, and other end users. Among these, the hospitals segment accounted for the largest share of the market in 2020. . The rising patient influx is encouraging hospitals to form alliances and partnerships with medical device maintenance service vendors for the establishment of state-of-the-art in-house maintenance facilities or outsourcing maintenance services.

Germany is expected to command the largest share of the European medical equipment maintenance market in 2020

The report covers the European medical equipment maintenance market across major countries, namely, Germany, UK, France, Italy, Spain, Poland, Austria and Switzerland, Scandinavian Countries, Benelux Countries, Baltic Countries and Rest of Europe. Germany commanded the largest share of the European medical equipment maintenance market in 2020. Market growth is mainly attributed to the strong base of independent service provider and in house maintenance , and the growing installation base for medical devices in healthcare facilities .
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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags european medical equipment maintenance market
Last Updated June 23, 2022