European Medical Equipment Maintenance Market is expected to reach USD 7.98 billion by 2022

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Jun 26, 2017, 15:20 ET

NEW YORK, June 26, 2017 /PRNewswire/ -- Highlights

· Rising focus on preventive maintenance to drive the European medical equipment maintenance market

· The European medical equipment maintenance market is expected to reach USD 7.98 billion by 2022 from USD 5.05 billion in 2017, at a CAGR of 9.6% during the forecast period.

· Growth in associated equipment markets, rising focus on preventive maintenance, adoption of innovative funding mechanism, and growing purchase of refurbished medical systems are driving the growth in medical equipment maintenance market, On the other hand, high initial cost and significant maintenance expenditure may hinder the growth of the market in the coming years.

· Primary imaging modalities are expected to witness high growth during forecast period

· Based on modality, the European imaging equipment maintenance market is segmented into advanced imaging modalities and primary imaging modalities.

· Primary modalities are expected to register the highest CAGR during the forecast period.

· The high volume of tests conducted using primary modalities is a key factor driving the growth of this market.

· OEMs to account to dominate the European medical equipment maintenance market

· Based on the type of service provider, the European medical equipment maintenance market is segmented into original equipment manufacturers (OEMs), independent service organizations (ISOs), and in-house maintenance services.

· The OEMs segment is expected to dominate this market with the largest share in 2017. The large share of this segment can be attributed to the wide geographic presence and strong technical expertise of OEMs.

Rising focus on preventive maintenance to drive the European medical equipment maintenance market:
The European medical equipment maintenance market is expected to reach USD 7.98 billion by 2022 from USD 5.05 billion in 2017, at a CAGR of 9.6% during the forecast period. Growth in associated equipment markets, rising focus on preventive maintenance, adoption of innovative funding mechanism, and growing purchase of refurbished medical systems are driving the growth in medical equipment maintenance market, On the other hand, high initial cost and significant maintenance expenditure may hinder the growth of the market in the coming years.

"Primary imaging modalities are expected to witness high growth during forecast period"
Based on modality, the European imaging equipment maintenance market is segmented into advanced imaging modalities and primary imaging modalities. Primary modalities are expected to register the highest CAGR during the forecast period. The high volume of tests conducted using primary modalities is a key factor driving the growth of this market.

"OEMs to account to dominate the European medical equipment maintenance market"
Based on the type of service provider, the European medical equipment maintenance market is segmented into original equipment manufacturers (OEMs), independent service organizations (ISOs), and in-house maintenance services. The OEMs segment is expected to dominate this market with the largest share in 2017. The large share of this segment can be attributed to the wide geographic presence and strong technical expertise of OEMs.

"Germany to dominate the market during forecast period"
In 2017, Germany is expected to account for the largest share of the European medical equipment maintenance market. This market is also expected to grow at the highest CAGR during the forecast period. Factors such as the large installation base of medical equipment, significant presence of OEMs, well-established healthcare infrastructure, and growing medical technology market are supporting the growth of the medical equipment maintenance market in the country.

The primary interviews conducted for this report can be categorized as follows:

• By Company Type: Tier 1 – 18%; Tier 2 - 39%; Tier 3 - 43%.
• By Designation: C-level- 31%; D-level- 26%; others- 43%.
• By Country: Germany–32%; U.K.-26%; France-16%; Italy-10%; Spain-11% and Rest of Europe (RoE) -5%

*Note: Others include sales managers, marketing managers, and product managers
Tiers of the companies are defined on the basis of their total revenue. As of 2015: Tier 1 = > EUR 5 billion, Tier 2 = EUR 500 million to EUR 5 billion, and Tier 3 = < EUR 500 million

List of Companies Profiled in the report
• GE Healthcare (A GENERAL ELECTRIC COMPANY)
• Siemens Healthineers (A Division of Siemens AG)
• Koninklijke Philips N.V.
• Pantheon Healthcare Group (A Part of Permira Group)
• TBS Group S.P.A
• Agfa-Gevaert Group
• Agenor Mantenimientos
• B. Braun Melsungen AG
• BCAS Biomedical Services LTD (BCAS_ BIOMED)
• Canon, Inc. (TOSHIBA MEDICAL SYSTEMS CORPORATION)
• Drägerwerk AG & Co. KGaA
• Grupo Empresarial Electromédico
• Hitachi Medical Corporation (Hitachi, Ltd.)
• Medtronic plc
• Olympus Corporation
• Technologie Sanitarie S.P.A.

Research Coverage:
The report provides an overview of the European medical equipment maintenance and associated services across various medical devices. It aims at estimating the market size and future growth potential of this market across different segments such as device type, service type, service providers, contract type, end-user and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them with the closest approximations of the revenue numbers for the overall European medical equipment maintenance market and the subsegments. This report will help stakeholders to understand the competitor landscape better and gain insights to position their businesses better and make suitable go-to-market strategies. The report also helps the stakeholders understand the pulse of the market and provides them with information regarding key market drivers, restraints, challenges, and opportunities.

Read the full report: http://www.reportlinker.com/p04954766/European-Medical-Equipment-Maintenance-Market-by-Device-Endoscopy-Surgical-instruments-Electromedical-Service-Provider-End-User-Forecasts-to.html

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