The size of european medical equipment maintenance market in terms of revenue was estimated to be worth $12.2 billion in 2021 and is poised to reach $19.0 billion by 2026, growing at a CAGR of 9.3% from 2021 to 2026. The research study consists of an industry trend analysis, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.

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.

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By service provider, the multi-vendor OEMs segment dominated the European medical equipment maintenance industry

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. The multi-vendor OEMs dominated the European medical equipment maintenance market in 2020. The total cost of maintenance services provided under multi-vendor management is lower than single-vendor OEM contracts, with a similar quality of services. Cost reduction of 20% can be achieved by outsourcing to a service provider providing multi-vendor services (MVS) which, is expected to fuels the growth of this segment during the forecast period.

By service type, the preventive maintenance segment dominated the European medical equipment maintenance industry

Based on service type, the European medical equipment maintenance market is segmented into corrective, preventive, and operational maintenance. The preventive maintenance segment is estimated to dominate the European medical equipment maintenance market in 2020. The growing focus on implementing preventive maintenance strategies among healthcare organizations is expected to offer growth opportunities for service providers in the coming years.

By device type, the diagnostic imaging equipment segment accounted for the largest share of the European medical equipment maintenance industry

Based on device type, the European medical equipment maintenance market is 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.  Among these, the diagnostic imaging equipment segment accounted for the largest share of the market in 2020. The large share of this segment is attributed to the increasing application of diagnostic imaging technology in the dental industry and for minimally invasive surgery.

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

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 industry

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 .

The major players in the European medical equipment maintenance market are GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Medtronic plc (Ireland), and FUJIFILM Holdings Corporation (Japan), Canon, Inc. (Toshiba Medical System Corporation, Japan), Agfa-Gevaert Group (Belgium), Carestream Health, Inc. (US), Drägerwerk AG Co. KGaA (Germany), Hitachi Medical Corporation (Japan), Althea Group (Italy), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), KARL STORZ GmbH Co. KG (Germany), and Aramark Services, Inc. (US) among others.

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GE Healthcare (US) held the leading position in the European medical equipment maintenance market in 2020. The company’s service portfolio includes a wide range of medical equipment services through which it caters to the demand of various end users, including hospitals, ambulatory surgical centers, dialysis centers, and dental clinics. The company also offers multi-vendor services associated with diagnostic imaging systems. In order to ensure its future growth, the company adopted strategies such as partnerships, agreements, and mergers and acquisitions to strengthen its service portfolio and customer base and expand its presence across various regions. GE Healthcare has a strong product portfolio, supporting around medical OEMs, hospitals and specialty clinics worldwide. The company is focused on innovations and improving the quality of its services with increasing investment in its biomedical engineering training.