Major Revenue Growth Boosters:
The market is primarily driven by the growth in associated equipment markets, rising focus on preventive medical equipment maintenance, adoption of innovative funding mechanism, and growing purchase of refurbished medical equipment.
Different Growth Strategies Adopted by Key Players:
Partnerships, collaborations and agreements were the key growth strategies adopted by the market players to maintain and improve their position in the European medical equipment maintenance market. Mergers & acquisitions accounted for the second largest share of the overall growth strategy mapped from 2014-2017. Some of the leading players who adopted this strategy include Hitachi, Ltd. (Japan), Medtronic plc (Ireland), and Pantheon Healthcare Group (Italy).
Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=243039217
Global Key Players:
The medical equipment maintenance market is highly competitive with several big and small players. The market, however, is dominated by the OEMs. Prominent OEMS in the medical equipment maintenance market include GE Healthcare (U.S.), Koninklijke Philips N.V. (Netherlands), Siemens Healthineers (Germany), Toshiba Medical Systems Europe (Germany), and Drägerwerk AG & Co. KGaA (Germany); whereas, TBS Group S.p.A. (Italy), Pantheon Group (Italy), Technologie Sanitarie S.p.A. (Italy), Avensys UK Ltd. (U.K.), and Grupo Empresarial Electromédico (Spain) are some leading ISOs operating in the market.
Koninklijke Philips N.V. was one the leading OEMs in the European medical equipment maintenance market in 2016. The company provides vendor-neutral service offerings for various medical equipment such as imaging equipment, surgical equipment, and endoscopic devices (flexible/rigid/fiberoptic). To expand its geographic presence and service offerings, the company entered into service agreements with various healthcare providers. For instance, in 2015, Koninklijke Philips N.V. renewed their existing ten-year agreement to supply, install, maintain, and upgrade radiology equipment with the Sint Maartenskliniek Hospital (the Netherlands) for five more years.
Pantheon Healthcare Group was one of the leading ISO players in the European medical equipment maintenance market. The company focuses on acquiring maintenance service suppliers to expand its footprint across different geographic areas. Some of its recent acquisitions include Higea SpA, Ingegneria Biomedica Santa Lucia S.p.A. (IBSL), Sigil, Spintech, and MVS Sp Z o.o. Moreover, to sustain its leading position in the market, the company focuses on other inorganic growth strategies such as agreements, collaborations, and partnerships.
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.
Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=243039217
Geographical Growth Scenario:
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.
