Europe Medical Equipment Maintenance Market To Reach $22.0 Billion By 2030

Europe Medical Equipment Maintenance Market Growth & Trends

The Europe medical equipment maintenance market size is expected to reach USD 22.0 billion by 2030, according to a new report by Grand View Research, Inc., projected to grow at a CAGR of 9.91% from 2024 to 2030. Increasing investments by key players in the market for R&D is helping companies expand product and service offerings, enhance customer service, and increase market awareness. The market is witnessing growth owing to the increasing prevalence of chronic diseases, such as cancer and heart disease, in Europe. Chronic diseases often require regular monitoring and diagnostic procedures. This is expected to drive the demand for diagnostic equipment, such as MRI, CT scanners, and X-ray machines.

As the adoption of these devices in healthcare facilities increases, the need for maintenance and servicing grows significantly. For instance, according to the European Journal of Cancer, in November 2021, it was estimated that Europe had over 4 million new cases of cancer and approximately 1.9 million cancer-related deaths. In recent years, there has been a greater focus on preventive maintenance for medical equipment in healthcare institutions. This strategic approach involves implementing scheduled maintenance tasks to prevent larger and cost-effective repairs in the future. It also aims to minimize equipment downtime, improving day-to-day operations and enhancing the overall reliability of medical devices.

Furthermore, preventive maintenance is gaining traction due to its ability to prevent adverse incidents and medical device-related accidents through planned inspections and regular maintenance services. This proactive approach ensures the safe, efficient, and extended use of medical equipment. The increasing adoption of preventive maintenance strategies by healthcare organizations is anticipated to create growth opportunities for service providers in the future.

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Europe Medical Equipment Maintenance Market Report Highlights

• Based on equipment, the imaging equipment segment dominated the market in 2023 with the largest revenue share of 36.1%. The growth is attributed to the increasing demand for diagnostic imaging services and the growing installation base of imaging equipment in Europe

• In terms of service providers, the OEM segment is anticipated to dominate the market, with the largest share in 2023, owing to the major presence of OEM in countries such as Germany, the UK, and Italy. Furthermore, the small/third-party providers are expected to register the fastest growth rate over the forecast period.

• Based on country, Germany dominated the market in 2023 due to its well-developed healthcare system and a strong focus on ensuring medical device safety and regulatory compliance

• In March 2023, GE Healthcare, a leading global provider of medical equipment maintenance services, and Advantus Health Partners entered into a 10-year agreement valued at up to EUR 718.08 million. This agreement would allow GE Healthcare's Healthcare Technology Management (HTM) services to be offered to the customers of Advantus Health Partners

Europe Medical Equipment Maintenance Market Segmentation

Grand View Research has segmented the Europe medical equipment maintenance market based on equipment, service provider, and country:

Europe Medical Equipment Maintenance 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

Europe Medical Equipment Maintenance Service Provider Outlook (Revenue, USD Million, 2018 - 2030)

• OEM

• Small/Third Party Providers

Europe Medical Equipment Maintenance Regional Outlook (Revenue, USD Million, 2018 - 2030)

• Europe

  • Germany

  • U.K.

  • France

  • Italy

  • Spain

  • Switzerland

  • Sweden

  • Denmark

  • Norway

List of Key Players in the Europe Medical Equipment Maintenance Market

• GE Healthcare

• Siemens Healthineers

• Koninklijke Philips N.V.

• Medtronic

• B. Braun SE (B. Braun Melsungen AG)

• Althea Group

• Drägerwerk AG & Co. KGaA

• Wisag

• VI.TECH GmbH