The Europe diagnostic imaging market is anticipated to grow from USD 9.80 billion in 2022 to USD 13.55 billion by 2027, growing at a CAGR of 6.70% during the forecast period.
YOY growth in the geriatric population and prevalence of chronic diseases, technological advances in imaging methods, and the rising adoption of imaging devices in medical evaluations are some of the key factors promoting the diagnostic imaging market in the European region. Across the world, Europe had the largest aging population in 2021. In Europe, Germany has the highest population of the aging population, followed by Italy, France, and the UK. Also, the aging of the population is expected to increase the prevalence of various chronic diseases, resulting in high demand for medical imaging devices. Furthermore, the growing demand for early diagnosis of recurrent infections and the growing demographics of aging are expected to favor the European market during the forecast period.
Technological advances are expected to open new avenues for the European diagnostic imaging market soon. Furthermore, advances in diagnostic imaging devices have improved the diagnosis and treatment of diseases such as cardiovascular disease and cancer. They are also foreseen to support the diagnostic imaging market in Europe. In addition, factors such as increasing processing speed, expanding 3D and 4D settings, capturing images in the right place at the right time, and automation the workflow for medical imaging products are considered prominent features further favoring the market growth.
However, the high costs associated with these medical imaging systems in a few European countries would be a significant challenge for innovative leaders in the diagnostic imaging market. Furthermore, helium shortage, the high cost of imaging modalities, and unfavorable reimbursement scenarios in emerging countries may limit the market growth. Still, increased spending on medical care in emerging markets will increase the demand for diagnostic devices using images. Furthermore, the challenges for the European diagnostic imaging market include substantial and ongoing investment, providing required ICT (Information Communication and Technology) service support and training to users, and a good understanding of the complexities in implementing and managing the technology and extending the application to support teleradiology activities.
This research report on the Europe diagnostic imaging market has been segmented and sub-segmented into the following categories:
Regionally, Europe was the second-largest market, with a global share of 29% in 2021. Germany is the largest market shareholder for the diagnostic imaging market in this region, followed by the UK and France. Other significant markets in the region are Norway, Netherlands, Denmark, and Greece. As a result of the increasing elder people population, the growing acquisition of imaging devices in the medical field and advancements in imaging methods propel the market growth in this region.
The German diagnostic imaging market is expected to lead the European market during the forecast period owing to the growing number of chronic and infectious diseases such as cardiovascular diseases. According to the WHO, nearly 37% of the mortality rate was because of cardiovascular diseases in 2017, 26% of deaths occurred due to different cancers, and 6% of the deaths were due to respiratory diseases. Moreover, in the growing geriatric population, approximately 22% of the people are aged above 65yeras of age, and 6% are above 80.
The UK diagnostic imaging market is estimated to grow with a CAGR of 5.5% from 2022 to 2027. The elder people population is more prone to musculoskeletal disorders, increasing the occurrence rate of chronic and life-threatening diseases, which boosts the growth of this region. In addition, continuous research and development activities and the appearance of automated diagnostic imaging scanners bolster growth.
The growth of the diagnostic imaging market in Spain is driven by introducing new devices within a short period, growing the aging population, and upgrading technologies. By 2050, people aged 80 and above will exceed 4 million, and those above 65 years will exceed more than a 13million, according to the Spanish National Statistics Office.
KEY MARKET PLAYERS:
A few promising companies in the Europe Diagnostic Imaging Market profiled in this report are GE Healthcare, Siemens Healthcare, Toshiba Medical Systems Corporation, Hitachi Medical Corporation, Hologic Inc., Fujifilm Corporation & Shimadzu Corporation.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: email@example.com