Europe Medical Equipment Maintenance Market Size, Share & Trends Analysis Report By Equipment (Imaging Equipment, Surgical Instruments), By Service Provider (OEM, Small/Third Party Providers), By Country, And Segment Forecast, 2024 - 2030

Medical Size & Trends

The Europe medical equipment maintenance market size was estimated at USD 11.4 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 9.91% from 2024 to 2030. The market is experiencing growth due to several factors, including the high incidence of chronic diseases, the expanding medical equipment sector, and rising demand for refurbished medical systems. The rapid progression of technology in the medical equipment sector and the growing demand for ongoing training & maintenance are fueling market expansion. The increasing number of medical devices introduced by key players is expected to drive the demand for Medical Equipment Maintenance Services (MEMS).

For instance, in July 2022, Canon Medical introduced the Vantage Fortian at ECR 2022, an innovative Magnetic Resonance Imaging (MRI) system incorporating inventive workflow solutions, image enhancement capabilities, and accelerated scanning technology. These combined features play a pivotal role in decreasing the duration of MRI procedures.

The increasing prevalence of chronic diseases has also improved the sales of refurbished medical equipment. This shift is driven by the growing demand for cost-effective medical devices. As a result, the demand for refurbished equipment is rising, offering new opportunities for key players. Moreover, several hospitals and healthcare facilities invest in refurbished equipment to control capital expenses while still providing affordable healthcare services to patients. For instance, according to a November 2022 WHO article, approximately 70% of refurbished medical imaging devices were sold, of which 46% were sold in the U.S. and 24% in Europe. This is expected to increase the demand for the maintenance of the devices.

Lower and middle-income countries have showcased a high demand for refurbished equipment owing to limited access to new medical supplies and less-developed healthcare infrastructure. In addition, the surge in chronic diseases has led to an increased demand for refurbished equipment, which is expected to drive the demand for maintenance. This is predicted to make it an attractive option for healthcare providers looking to balance cost-efficiency with quality patient care, particularly in regions with resource constraints.

The outbreak of the pandemic had a significant impact on the market. The urgent need for critical medical equipment to address the pandemic increased the demand for medical products and services. The extensive collection of medical devices used in diagnosing and treating COVID-19 was the major factor boosting market growth. Furthermore, hospitals encountered difficulties obtaining service information for repairing medical equipment during the COVID-19 pandemic. Market participants implemented strategic initiatives to address such challenges and maintain their market positions during the pandemic. For instance, in March 2020, iFixit introduced a comprehensive repair database for ventilators and other medical devices to assist hospitals in maintaining & repairing essential equipment during the pandemic. Consequently, the market experienced a moderate level of growth during the pandemic.

Service Provider Insights

Based on the service provider, the market is segmented into OEM and small/third-party providers. The OEM segment dominated the market with the largest share of over 73.1% in 2023. The significant market share can be attributed to the major presence of OEMs in countries such as Germany, the UK, and Italy.

The market is anticipated to witness growth in the forecast period, primarily driven by a growing trend among market players to offer innovative strategies by using data analytics, IoT, and remote monitoring. OEMs play a crucial role in this market by offering comprehensive maintenance and support services for the medical devices they produce. European healthcare facilities are subject to strict regulatory requirements. OEMs are well-versed in these regulations and help their clients remain compliant, minimizing legal and financial risks, and it is expected to support market growth.

Furthermore, the small/third-party providers segment is expected to grow fastest over the coming years. The rising demand for healthcare services, especially among the aging population, drives the need for reliable maintenance providers to ensure equipment availability. These drivers collectively contribute to the growth and competitiveness of small & third-party providers of equipment maintenance services, making them essential partners for healthcare organizations seeking cost-effective & efficient maintenance solutions.

Equipment Insights

Based on equipment, the market is segmented into imaging, surgical instruments, electromedical, endoscopic devices, patient monitoring devices, and other medical equipment. The imaging equipment segment dominated the market with the largest revenue share of 36.1% in 2023. The growth is attributed to a high level of accuracy and their ability to provide rapid initial diagnoses for a wide range of diseases.

Various imaging modalities, including CT and nuclear imaging, are extensively employed for diagnosing various medical conditions. These modalities play a significant role in chronic disease management, encompassing health conditions such as cancer, asthma, heart disease, and diabetes. Hence, this equipment serves a dual purpose, acting as both a diagnostic tool and a therapeutic modality and finding extensive applications within the medical field. According to data released by NHS UK in 2021, approximately 1.17 million individuals in England were diagnosed with Chronic Obstructive Pulmonary Disease (COPD), representing approximately 1.9% of the country’s population. Imaging equipment plays a valuable role in the early detection of chronic illnesses.

The surgical instruments segment is expected to register the fastest growth over the coming years. The segment is majorly driven by factors such as the increasing geriatric population, a rise in the incidence of lifestyle-related diseases necessitating surgery, growing healthcare expenses, and substantial unmet surgical demands. In addition, the growth of the market is expected to be further stimulated by technological advancements in minimally invasive surgical techniques, shorter hospital stays following surgery, and a surge in the establishment of ambulatory surgical centers.

Country Insights

Germany dominated the market in 2023 with a revenue share of 26.7% due to its well-developed healthcare system and a strong focus on ensuring medical device safety and regulatory compliance. Germany has one of Europe's most advanced healthcare systems, which relies heavily on sophisticated medical equipment and technology.

In addition, Germany is the world's third-largest medical technology market, followed by the U.S. and Japan.

Furthermore, the rising number of tender approvals for medical equipment maintenance services in Germany has significantly impacted the market, contributing to its growth and development. For instance, as per Global Tenders in September 2023, the Medical Campus Lake Constance in Germany has issued a tender for the management and maintenance of its medical technology. Tenders and contracts for medical equipment maintenance are awarded to service providers with the capacity to deliver high-quality services at competitive prices.

Switzerland is expected to register the fastest growth over the coming years. Factors such as an aging population, increasing healthcare expenditures, and the need for cost-effective healthcare solutions contribute to the market growth in Switzerland.

Key Companies & Market Share Insights

The market players are adopting various strategies, such as partnerships & collaborations, new service launches, and regional expansion. For instance, in March 2023, Medipass Healthcare and Althea UK merged their operations and adopted the name Ergéa. This newly established entity, Ergéa, is an independent Managed Equipment Services (MES) company that offers a comprehensive range of services encompassing radiotherapy, radiology, cardiology, endoscopy, and surgical theatres. In addition, Ergéa provides vendor-independent maintenance services for radiology, endoscopy, and biomedical equipment across the UK.

Europe Medical Equipment Maintenance Market Report Scope

Europe Medical Equipment Maintenance Market Report Segmentation

This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the Europe medical equipment maintenance market report based on equipment, service provider, and country:

• Equipment Outlook (Revenue, USD Million, 2018 - 2030)

  • Imaging Equipment

    • Digital X-Ray

    • CT

    • MRI

    • Ultrasound

    • Others

      • Life Support Devices

      • Dental Equipment

  • Surgical Instruments

  • Electromedical Equipment

  • Endoscopic Devices

  • Patient Monitoring Devices

  • Other Medical Equipment

• Service Provider Outlook (Revenue, USD Million, 2018 - 2030)

  • OEM

  • Small/Third Party Providers

• Country Outlook (Revenue, USD Million, 2018 - 2030)

  • Germany

  • U.K.

  • France

  • Italy

  • Spain

  • Switzerland

  • Sweden

  • Denmark

  • Norway