Dublin, Aug. 25, 2021 (GLOBE NEWSWIRE) -- The "European Medical Equipment Maintenance Market by Device (Imaging (MRI, CT, X-ray, mammography), Endoscopy, Monitoring, Dental, Lab Devices), Provider (OEM, ISO), Service (Preventive, Corrective), End User (Hospital, ASCs, Clinic) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
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.
The growth of this market is mainly driven by the growth in the associated equipment markets, rising focus on preventive medical equipment maintenance, adoption of innovative funding mechanisms, and the increasing purchase of refurbished medical systems.
In terms of service provider, segment to register significant growth during the forecast period
Based on the service provider, the European medical equipment maintenance market is segmented into multi-vendor OEMs, single-vendor OEMs, ISOs, and in-house maintenance. OEMs provide a wide range of services, such as corrective maintenance, operational maintenance, planned maintenance, and extended warranty, along with insurance maintenance programs. Thus rising demand for multi-vendor OEMs services has led to the growth of the multi-vendor OEMs segment.
In terms service type, preventive maintenance segment to register significant growth during the forecast period
Based on the service type, the European medical equipment maintenance market is segmented into corrective, preventive, and operational maintenance. The Preventive maintenance segment accounted for a larger share of in the market in 2020.
Preventive maintenance is carried out for life support devices, equipment used for diagnosis and treatment, and devices that significantly impact the safety of patients (such as defibrillators, ECG machines, pulse oximeters, infusion pumps, and electrosurgical units).
Preventive maintenance is critical for equipment present in radiology departments due to mandatory certifications and regulations, as well as the high cost of equipment. Benefits of preventive maintenance to support the growth of this segment
Diagnostic imaging equipment segment is expected to account for the largest share of the European medical equipment maintenance market, by the device type
On the basis of device type, the European medical equipment maintenance market has been segmented into diagnostic imaging equipment, patient monitoring & life support devices, endoscopic devices, surgical equipment, ophthalmology equipment, medical lasers, electrosurgical equipment, radiotherapy devices, dental equipment, laboratory equipment, and durable medical equipment.
Based on modality, this market segment is divided into CT scanners, MRI systems, X-ray systems, ultrasound systems, angiography systems, nuclear imaging equipment (PET/SPECT), mammography systems, and fluoroscopy systems. There is a significant demand for related maintenance services to avoid any possibility of equipment breakdown/downtime.
This market is primarily driven by the increasing number of diagnostic imaging procedures across the globe. A rise in the prevalence of chronic diseases is also expected to propel the use of advanced imaging equipment and subsequently drive the demand for associated maintenance services.
German market is expected to grow at the highest CAGR during the forecast period
The German market is estimated to grow at the highest CAGR during the forecast period majorly due to growth of service providers and favourable investments scenario and evolving healthcare infrastructure in the country.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth in the associated equipment markets
5.2.1.2 Rising focus on preventive medical equipment maintenance
5.2.1.3 Adoption of innovative funding mechanisms
5.2.1.4 Increasing purchase of refurbished medical systems
5.2.2 Restraints
5.2.2.1 High initial cost and significant maintenance expenditure
5.2.2.2 Fiscal unsustainability due to wasteful spending
5.2.3 Opportunities
5.2.3.1 Innovation in service offerings and use of IoT
5.2.3.2 Emergence of ISOs
5.2.3.3 Emerging markets across Central and Eastern Europe
5.2.4 Challenges
5.2.4.1 Survival of players in a highly fragmented and competitive market
5.2.4.2 Compliance issues with new MDR regulations and the Golden Rule
5.2.4.3 Dearth of skilled technicians and biomedical engineers
5.2.5 Trends
5.2.5.1 Preference for multi-vendor contracts
5.2.5.2 Consolidation of dialysis centers and hospitals
5.2.5.3 Managed equipment service providers and group purchasing
5.2.5.4 Equipment maintenance insurance tools for imaging centers
5.3 Ecosystem Coverage
5.4 Value Chain Analysis
5.5 Supply Chain Analysis
5.6 Porter'S Five forces Analysis
5.7 Impact of COVID-19 On the European Medical Equipment Maintenance Market
5.8 Reclassification of Medical Devices Under the New MDR Regulations
5.8.1 Classification of Non-Invasive Devices
5.8.2 Classification of Invasive Devices
5.8.3 Classification of Active Devices
5.8.4 Classification of Nanomaterials
5.8.5 Special Rules
6 Regulatory Standards
6.1 Introduction
6.2 ISO Standards
6.2.1 ISO 9001:2015
6.2.2 ISO 13485:2016
7 European Medical Equipment Maintenance Market, by Device Type
7.1 Introduction
7.2 Diagnostic Imaging Equipment
7.2.1 MRI Systems
7.2.1.1 Increasing demand for MRI procedures to fuel the demand for maintenance services
7.2.2 CT Scanners
7.2.2.1 CT scanners need specialized engineers and technicians trained to execute the servicing of equipment
7.2.3 X-Ray Systems
7.2.3.1 Demand for OEM-based X-ray maintenance services is expected to increase among ends users
7.2.4 Ultrasound Systems
7.2.4.1 Demand for preventive maintenance for ultrasound devices is high among end users
7.2.5 Angiography Systems
7.2.5.1 Growing obsolescence of angiography equipment to drive the demand for maintenance services
7.2.6 Mammography Systems
7.2.6.1 Preference for mammography over general breast ultrasound to drive the growth of this market segment
7.2.7 Nuclear Imaging Systems (PET/SPECT)
7.2.7.1 Hybrid systems hold greater prospects of dominating the nuclear imaging systems maintenance services market in the near future
7.2.8 Fluoroscopy Systems
7.2.8.1 Increasing adoption of refurbished fluoroscopy equipment to support the demand for maintenance services
7.3 Patient Monitoring & Life Support Devices
7.3.1 Ventilators
7.3.1.1 The COVID-19 pandemic has driven the demand for ventilators and the related maintenance services
7.3.2 Anesthesia Monitoring Equipment
7.3.2.1 Stringent regulatory guidelines are in place for the maintenance of anesthesia monitoring equipment
7.3.3 Dialysis Equipment
7.3.3.1 Growing number of renal care centers to drive the demand for corresponding maintenance services
7.3.4 Infusion Pumps
7.3.4.1 Growing adoption of specialty infusion pumps and rental infusion pumps to drive the growth of this market segment
7.3.5 Other Patient Monitoring & Life Support Devices
7.4 Endoscopic Devices
7.4.1 The Demand for Affordable Services for Endoscopic Devices Is Increasing
7.5 Surgical Instruments
7.5.1 Increasing Number of Surgeries Performed Across Europe Is Driving the Growth of This Market Segment
7.6 Ophthalmology Equipment
7.6.1 High Equipment Costs Driving the Focus On Preventive Maintenance Among End Users
7.7 Medical Lasers
7.7.1 Medical Lasers Are Extremely Fragile and Expensive and Thus Require Preventive Maintenance
7.8 Electrosurgical Equipment
7.8.1 Growing Adoption of SPVATs and Electrosurgery Devices Will Increase the Demand for Maintenance Services
7.9 Radiotherapy Devices
7.9.1 Stringent Regulatory Guidelines To Support the Demand for Preventive Maintenance
7.10 Dental Equipment
7.10.1 Dental Radiology Equipment
7.10.1.1 Technological complexity of dental radiology equipment to drive the demand for maintenance services
7.10.2 Dental Laser Devices
7.10.2.1 Sophisticated maintenance workflow offered by service providers to drive the demand for services
7.10.3 Other Dental Equipment
7.11 Laboratory Equipment
7.11.1 Increased Laboratory Automation To Drive the Demand for Laboratory Equipment Maintenance Services
7.12 Durable Medical Equipment
7.12.1 Growing Awareness About In-House Maintenance Services To Impact the Growth of This Market Segment
8 European Medical Equipment Maintenance Market, by Service Type
8.1 Introduction
8.2 Preventive Maintenance
8.2.1 Benefits of Preventive Maintenance To Support the Growth of This Segment
8.3 Corrective Maintenance
8.3.1 Online Availability of Multi-Vendor Medical Device Spare Parts To Streamline the Workflow for Corrective Maintenance
8.4 Operational Maintenance
8.4.1 Growing Awareness of Operational Maintenance Among End Users To Drive the Growth of This Market Segment
9 European Medical Equipment Maintenance Market, by Service Provider
9.1 Introduction
9.2 Multi-Vendor OEMs
9.2.1 Availability of 24/7 Remote Services Driving the Preference for Multi-Vendor OEMs
9.3 Single-Vendor OEMs
9.3.1 Complexity In Managing Contracts To Hinder the Growth of This Market Segment
9.4 Independent Service Organizations
9.4.1 Lower Cost of Contracts Is Likely To Support the Growth of This Market Segment
9.5 In-House Maintenance
9.5.1 Quick Response Time for Breakdowns Is Likely To Support the Growth of This Market Segment
10 European Medical Equipment Maintenance Market, by End User
10.1 Introduction
10.2 Hospitals
10.2.1 Increasing Number of Surgeries To Support the Growth of This End-User Segment
10.3 Ambulatory Surgical Centers
10.3.1 Patients Are Increasingly Opting for Ambulatory Surgical Centers As A More Convenient Alternative To Hospital-Based Outpatient Procedures
10.4 Dental Clinics & Specialty Clinics
10.4.1 Preference for Specialty Clinics Is Growing Owing To their Greater Versatility
10.5 Diagnostic Imaging Centers
10.5.1 Increasing Number of Private Imaging Centers Is Contributing To Market Growth
10.6 Dialysis Centers
10.6.1 Increasing Number of Dialysis Centers To Increase the Demand for Maintenance Services
10.7 Other End Users
11 European Medical Equipment Maintenance Market, by Region
12 Competitive Landscape
12.1 Overview
12.2 Revenue Share Analysis of Top Market Players
12.3 Global Market Share Analysis (2020)
12.4 Competitive Scenario (January 2017 To July 2021)
12.5 Company Evaluation Quadrant
12.5.1 Stars
12.5.2 Emerging Leaders
12.5.3 Pervasive Players
12.5.4 Participants
13 Company Profiles
13.1 Major Players
13.1.1 GE Healthcare (General Electric Company)
13.1.2 Siemens Healthineers (A Subsidiary of Siemens Group)
13.1.3 Koninklijke Philips N.V.
13.1.4 Medtronic Plc
13.1.5 Fujifilm Holdings Corporation
13.2 Other Players
13.2.1 Olympus Corporation
13.2.2 Canon Inc.
13.2.3 Dragerwerk AG & Co. KgaA
13.2.4 Hitachi, Ltd.
13.2.5 B. Braun Melsungen AG
13.2.6 Althea Group
13.2.7 Agfa-Gevaert N.V.
13.2.8 BCAS Bio-Medical Services Ltd.
13.2.9 Agenor Mantenimientos
13.2.10 Grupo Empresarial Electromedico
13.2.11 Carestream Health
13.2.12 Karl Storz GmbH & Co. Kg
13.2.13 Alliance Medical
13.2.14 Avensys UK Ltd.
13.2.15 Aramark Services, Inc.
14 Appendix
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