Published Date: 2020-11-10
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According to the Graphical Research new growth forecast report titled “Europe Medical Imaging Market Size By Product (X-ray Devices, {Digital [Direct Radiography Systems, Computed Radiography Systems], Analog}, Magnetic Resonance Imaging (MRI), Ultrasound, {2D Ultrasound, 3D Ultrasound}, Computed Tomography, Nuclear Imaging, Mammography), By End-use (Hospitals, Diagnostic Centers), Industry Analysis Report, Regional Outlook (Germany, UK, France, Italy, Spain, The Netherlands, Denmark, Russia, Poland, Sweden)”, Estimated To Exceed USD 13.3 Billion By 2026
Technological advancements in medical imaging in developed economies will enhance the medical imaging business growth. Emergence of artificial intelligence (AI) in medical imaging will help in bringing accuracy in diagnostic imaging. AI enabled medical imaging systems have the potential to detect anomalies that are minute to be differentiated by the conventional ones. Thus, AI can be used to improve diagnostic accuracy fostering the market growth. Several companies are focusing on incorporating AI into their imaging systems for enhanced diagnosis, augmenting the market growth.
The Europe medical imaging market on the basis of product is classified into mammography, X-ray devices, nuclear imaging, magnetic resonance imaging, computed tomography, and ultrasound. The nuclear imaging segment is projected to witness around 6.5% CAGR over the analysis timeframe. Nuclear imaging has wide range of therapeutic applications including treatment of thyroid cancer, hyperthyroidism, blood imbalances, and several others surging its preference. Also, nuclear imaging is painless, safe, and cost-effective way of gathering patient’s vital health information, stimulating the segment growth.
Based on the end-use, the Europe medical imaging market is fragmented into diagnostic centers, hospitals and others. Amongst them, the hospitals segment is projected to witness around 45% market share in 2019. Availability of well-developed infrastructure along with emergency care in the hospital settings will augment the market growth. Usage of medical imaging devices for treatment, diagnosis, and follow-up on numerous diseases are increasing in the hospital settings thereby, surging its demand leading to overall market growth.
UK medical imaging market is projected to witness nearly 5% CAGR during the analysis timeframe. Increasing investment for developing technologically superior imaging products and surging demand for advanced treatment options will foster the market growth. High income level in developed economies such as in UK will have a positive impact on industry growth. Additionally, soaring government’s healthcare expenditure will prove beneficial for the market growth.
Some of the foremost industry players operating in the market are Fujifilm Corporation, Esaoate SpA, GE Healthcare, Konica Minolta, Inc., Canon Medical Systems Corporation, Samsung Medison Co.Ltd, Hologic Inc., Siemens Healthineers, Koninklijke Philips N.V., and Carestream Health Inc. These prominent market players are focusing on implementing organic and inorganic growth strategies for maintaining financial stability in the market and to get a competitive edge over others. For instance, in March 2019, Philips announced the FDA approval of DigitalDiagnost C90 digital radiography systems. This strategy assisted the company in attracting a larger customer base.
Europe medical imaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:
Market Share, By Product, 2015 - 2026 (USD Million)
Market Size, By End-use, 2015 - 2026 (USD Million)
The above information is provided for the following region and countries:
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