European Medical Equipment Maintenance Market is Expecting a Huge Revenue Growth in Near Future
The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.
(EMAILWIRE.COM, March 16, 2021 ) 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.
Major Growth Influencing Factors:
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.
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.
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.
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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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Major Growth Influencing Factors:
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.
Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=243039217
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.
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.
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.
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.
Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=243039217
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Contact Information:
MarketsandMarkets™
Mr. Aashish Mehra
Tel: 1-888-600-6441
Email us
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MarketsandMarkets™
Mr. Aashish Mehra
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results