Europe Medical Imaging Market By Type (Services, Product), Modality (Stationary, Portable), Procedure (Computed Tomography (CT) Scan, X-Ray Imaging, Magnetic Resonance Imaging (MRI), Ultrasound, Nuclear Imaging (SPECT/PET), Others), Technology (Direct Digital Radiology, Computed Radiology), Patient Age (Adults, Pediatric), Application (Cardiology, Pelvic And Abdominal, Oncology, Mammography, Gynecology, Neurology, Urology, Musculoskeletal, Dental, Others), End Users (Hospitals, Diagnostic Centers, Imaging Centers, Specialty Clinics, Ambulatory Surgical Centers, Academic & Research Institutes, Others), Country (Germany, Italy, France, United Kingdom, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey, Rest of Europe), Market Trends and Forecast to 2027
Market Analysis and Insights: Europe Medical Imaging Market
Medical imaging market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 9.9% in the forecast period of 2020 to 2027and expected to reach USD 82,512.25 million by 2027 from USD 38,764.64 million in 2019. Rising minimally invasive diagnostic and therapeutic interventional procedures and increasing prevalence of chronic diseases are the factors for the market growth.
Medical imaging is used for the purpose of diagnosis and treatment of the various diseases. This technique is mainly useful in improving the health of people around the world, as it can help in the early diagnosis of some internal diseases, Medical imaging helps in decision making of suitable procedure for the diagnosis and treatment for a particular diseases. May also examine what has already been diagnosed with treatment.
Advancements in medical imaging technology such as MRIs, CT scans, PET scans, and other techniques have a huge impact on the treatment and diagnosis of diseases. Medical imaging is used for both diagnosis and therapeutic purposes. Advancements in medical imaging technology has huge impact on increasing the demand of the market For instance, GE healthcare provides advanced Voluson E8 device which is 4D ultrasound equipment. Voluson E8 is combined with premium image quality which has the access to the advanced capabilities which deliver the level of performance.
This Medical Imaging Market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Europe Medical Imaging Market Scope and Market Size
Europe medical imaging market is segmented of the basis of type, modality, procedure, technology, patient age, application, end users. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, Europe medical imaging market is segmented into services and product. The service sector continues to dominate the medical market due to high demand for medical imaging procedures such as MRI, CT scan and X-ray. Additionally, the improvement rate and increasing incidence will also increase the demand for medical imaging services during the coming years.
- On the basis of modality, Europe medical imaging market is segmented into stationary and portable. The stationary segment acquires highest share due to the increasing acceptance and installation of stationary medical imaging devices in hospitals and diagnostic centers. However, most MRI and CT scan devices installed in stationary mode are due to their prices.
- On the basis of procedure, Europe medical imaging market is segmented into computed tomography (CT) scan, X-ray imaging, magnetic resonance imaging (MRI), ultrasound, nuclear imaging (SPECT/PET) and others. Computed tomography (CT) scan acquires highest share in the medical imaging market as CT scan procedures compared to other medical imaging techniques are moderately safer because patients are not exposed to radiation in this procedure, although it emits moderately low radiation. CT scan provides high-quality and detailed images of the body. CT scans are also used to detect tumours and evaluate lung or chest problems. Due to all these reasons, CT scan dominates the medical imaging market.
- On the basis of technology, Europe medical imaging market is segmented into direct digital radiology and computed radiology. Direct digital radiology attains the highest share in the medical imaging market as it develops workflows by producing high quality images by providing two to three times more productivity than directly computed radiology. Direct digital radiology provides better output than computed radiology because it renders images within five seconds.
- On the basis of patient age, Europe medical imaging market is segmented into adults and paediatric. Adults dominate the market as large patient pool suffering from chronic disease is adults. In addition, the increasing number of heart disease in the adult population is higher than in pediatrics and the growing medical imaging process is also accelerating the demand for medical imaging over the forecast period.
- On the basis of application, Europe medical imaging market is segmented into cardiology, pelvic and abdominal, oncology, mammography, gynaecology, neurology, urology, musculoskeletal, dental and others. Cardiology segment holds largest share in the market as the prevalence rate of heart disease is very high in developed and developing countries and heart disease is one of the leading causes of death. According to European Heart Network, each year heart disease (CVD) causes 3.9 million deaths in Europe and more than 1.8 million deaths in the European Union (EU). CVD accounts for 45% of all deaths in Europe and 37% of all deaths in the European Union. For this reason, the cardiology segment dominates the global medical imaging market.
- On the basis of end users, Europe medical imaging market is segmented into hospitals, diagnostic centers, imaging centers, specialty clinics, ambulatory surgical centers, academic & research institutes and others. The hospitals segment holds the largest share in the market as hospitals are providing radiology services to in-house patients for various diseases. Hospitals are the primary treatment facility for any type of diagnosis and treatment and most facilities and healthcare professionals are available in the hospital. For this reason, the hospital segment will grow with the highest CAGR in the coming years.
Medical Imaging Market Country Level Analysis
Europe medical imaging market is analysed and market size information is provided by country by type, modality, procedure, technology, patient age, application, end users as referenced above.
The countries covered in the medical imaging market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.
Germany is dominating the European market due to the growth of technological advanced health system and increasing chronic diseases in the country.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Cases of Chronic Diseases and New Technology Penetration
Europe medical imaging market also provides you with detailed market analysis for every country growth in medical device industry with medical imaging sales, impact of technological development in contrast agents and changes in regulatory scenarios with their support for the medical imaging market.
Competitive Landscape and Medical Imaging Market Share Analysis
Europe medical imaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Europe medical imaging market.
The major players covered in the report are Spectrum Health, RamSoft, Inc., InHealth Group, Radiology Reports online, Siemens Healthineers AG, Sonic Healthcare, RadNet, Inc., GE Healthcare (A subsidiary of GENERAL ELECTRIC), Alliance HealthCare Services, Koninklijke Philips N.V., Hologic Inc., Shimadzu Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., CANON MEDICAL SYSTEMS CORPORATION, Carl Zeiss Ag, FUJIFILM Corporation, Hitachi, Ltd., MEDNAX Services, Inc., Carestream Health (A subsidiary of Onex Corporation), Teleradiology Solutions, UNILABS, ONRAD, Inc. among other domestic and global players. Medical imaging market share data is available for North America, Europe, Asia-Pacific, Middle East and Africa and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many joint ventures and developments are also initiated by the companies worldwide which are also accelerating the Europe medical imaging market.
- In December 2019, FUJIFILM Corporation and Hitachi, Ltd. had entered into an agreement to acquire Hitachi, Ltd. business of clinical imaging. The acquisition agreement is anticipated to close in July 2020,this acquisition will help company in expansion of its business of clinical imaging field.
- In September 2019, the InHealth Group declared that a new InHealth Woodlands MRI center was opened in Frimley Park Hospital, England. With this launch, the company increases its MRI services and produces additional revenue.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for medical imaging through technological advancements.
Customization Available: Europe Medical Imaging Market
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