The size of the Europe Diagnostic Imaging Market was worth USD 9.80 billion in 2022 and is estimated to be growing at a CAGR of 6.70% to reach USD 13.55 billion by 2027.
Key factors driving the European diagnostic imaging market growth include the increase in the geriatric population and the increasing prevalence of chronic diseases, technological advances in imaging methods, and the rising adoption of imaging devices in medical evaluations. Also, the aging of the population is expected to increase the prevalence of various chronic diseases, resulting in high demand for medical imaging devices. Therefore, the main factors driving the growth of the European Diagnostic Imaging Market are the increasing demand for early diagnosis of recurrent infections and the growing demographics of aging, which is supposed to increase the demand for diagnostic images.
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, are also foreseen to support Europe's Diagnostic Imaging Market growth.
Aspects such as increasing processing speed, expanding 3D and 4D settings, capturing images in the right place at the right time, and automation of the workflow for medical imaging products are considered prominent features that can create massive growth potential industry in the future.
However, adopting these expensive medical imaging systems in a few European countries would be a significant challenge for innovative leaders in the diagnostic imaging market. Furthermore, helium shortage, 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.
The challenges for the European Diagnostic Imaging Market include substantial and ongoing investment, providing good 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 is the second-largest market with a global share of 29%. 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. A result of the increasing elder people population, growing acquisition of imaging devices in the medical field, advancements in technology in imaging methods propel the market growth in this region.
The German Diagnostic Imaging Market is expected to lead the European market due to the growing number of chronic and infectious diseases such as cardiovascular diseases. According to the WHO, nearly 37% of the mortality rate is because of cardiovascular diseases in 2017, and 26% of deaths have occurred due to different types of cancers, and 6% of the deaths are due to respiratory diseases. Moreover, in the growing geriatric population, approximately 22% of the people are aged above 65yeras of age, and 6% of the people are aged 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 boost the growth of this region. In addition, continuous research and development activities and the appearance of automated diagnostic imaging scanners bolster the growth.
The growth of the diagnostic imaging market in Spain is escalated due to introducing new devices within a short period, growing the aging population, and upgrading technologies. By 2050, people aged 80 and above will exceed 4million, and those above 65 years will exceed more than a 13million, which is according to the Spanish National Statistics Office.
KEY MARKET PLAYERS:
A few promising companies operating 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: firstname.lastname@example.org