Growing prevalence of chronic diseases to drive the growth of Europe diagnostic imaging market
According to TechSci Research report, “Europe Diagnostic Imaging Market By Type (X-Ray Imaging Solutions, Ultrasound Systems, MRI Systems, CT Scanners, Nuclear Imaging Solutions, Mammography, Others), By Mobility (Portable v/s Standalone), By Source (Domestic Vs Import), By Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Others), By End Users (Hospitals & Clinics, Diagnostic Centers, Ambulatory Care Centers, Others), By Country, Forecast & Opportunities, 2025”, the Europe diagnostic imaging market is expected to grow at a formidable rate during the forecast period on account of the growing health consciousness and awareness among the population pertaining to different diseases and a healthy lifestyle. This has made the people opt for regular health checkups, which in turn is expected to spur the market growth through 2025. Additionally, technological advancements such as the advent of AI, IoT, blockchain, among others in diagnostic imaging modalities is further expected to bolster the market growth over the next few years. Furthermore, Europe has a highly regulated and well established health network. It has a presence of major market players and local players offering health insurance plans to the public. Also, the governments in United Kingdom and Switzerland provides their citizens with a free of cost health insurance card with which, they can avail healthcare facilities in their own country and other European countries at a minimal or no cost at all. This in turn is expected to fuel the market growth during the forecast period. However, safety issues pertaining to patient health and environmental issues might hamper the market growth through 2025. Besides, stringent regulatory norms and policies pertaining to approval and use of already approved diagnostic imaging modalities might further restrict the market growth until 2025. Moreover, shortage of helium is a major concern for suppliers of MRI health system and healthcare industry. This might further impede the market growth during the forecast period.
The Europe diagnostic imaging market is segmented based on type, mobility, source, application, end users, company and country. Based on type, the market can be fragmented into X-Ray imaging solutions, ultrasound systems, MRI systems, CT scanners, nuclear imaging solutions, mammography and others. Here, the CT scanners segment is expected to register the highest growth in the market on account of the associated benefits of improved patient safety since there is very minimal exposure to radiation in this technique. Additionally, it produces high quality images of the body, thereby help in detecting tumors and various lung or chest ailments. Based on application, the market can be categorized into cardiology, oncology, neurology, orthopedics, gastroenterology, gynecology and others. Among these, the cardiology segment is expected to dominate the market on account of the growing prevalence of cardiovascular diseases, cardiac arrests, heart strokes, among others. According to WHO data, more than half of the deaths across the European region are caused due to cardiovascular diseases. This in turn is expected to increase the demand for diagnostic imaging solutions through 2025. Based on end users, the market can be grouped into hospitals & clinics, diagnostic centers, ambulatory care centers and others. Here, the hospitals & clinics segment is expected to dominate the market owing to the growing demand for advanced imaging technologies and integration of these facilities. However, the diagnostic centers segment is expected to witness healthy growth on account of growing number of diagnostic centers across the region.
Siemens Healthineers AG, GE Healthcare Europe, GmbH, Koninklijke Philips N.V., Agfa-Gevaert N.V., Esaote S.p.A, Planmed Oy, Carl Zeiss AG, Accenture UK Medical Imaging Solutions, FUJIFILM Europe GmbH, Canon Medical System Europe B.V. and others are some of the leading players operating in Europe diagnostic imaging market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. For instance, in February 2019, Canon Medical System Europe B.V. launched Aquilion Begin CT device in the European market. This will help the medical facility providers expand their radiology practices. This device is compact in size, has lesser power requirements and is equipped with dose reduction technologies. It has the ability to fit inside a small X-Ray room thereby delivering 3D CT imaging of high-quality at the lowest possible dosage.
“Europe diagnostic imaging market is expected to witness significant growth during the forecast period. Germany is expected to lead the market followed by France, Italy, and Spain. This can be ascribed to ageing population and increasing mortality rate due to prevalence of chronic diseases such as cardiovascular diseases, cancer, among others. Furthermore, the sudden outbreak and spread of pandemic COVID-19, with the European region being adversely impacted, is expected to create lucrative opportunities for the growth diagnostic imaging market across the country. This can be accredited to the widespread use of diagnostic techniques for making a comparative study to identify the vulnerability of the disease across adults and children. Also, these imaging facilities help in identifying the treatment response to a certain drug or therapy. Furthermore, presence of major market players such as Siemens, GE Healthcare, Fujifilm, Canon, among others in the region is expected to propel the market growth through 2025.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Europe Diagnostic Imaging Market By Type (X-Ray Imaging Solutions, Ultrasound Systems, MRI Systems, CT Scanners, Nuclear Imaging Solutions, Mammography, Others), By Mobility (Portable v/s Standalone), By Source (Domestic Vs Import), By Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Others), By End Users (Hospitals & Clinics, Diagnostic Centers, Ambulatory Care Centers, Others), By Country, Forecast & Opportunities, 2025”, has evaluated the future growth potential of Europe diagnostic imaging market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Europe diagnostic imaging market.