PUBLISHER: Grand View Research | PRODUCT CODE: 1404597
PUBLISHER: Grand View Research | PRODUCT CODE: 1404597
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.