Diagnostic Imaging Market in Europe by Type and Geography - Forecast and Analysis 2022-2026
- Published: Jan 2022
- Pages: 120
- SKU: IRTNTR72157
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The diagnostic imaging market share in Europe is expected to increase by USD 2.94 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.70%.
This diagnostic imaging market in Europe research report extensively covers the diagnostic imaging market in Europe segmentation by type (X-rays, ultrasound, MRI scans, CT scans, and others) and geography (Sweden, UK, Finland, and Rest of Europe). The diagnostic imaging market in Europe report also offers information on several market vendors, including Agfa-Gevaert NV, Canon Inc., Esaote Spa, FUJIFILM Holdings Corp., General Electric Co., Hologic Inc., Koninklijke Philips NV, Onex Corp., Shimadzu Corp., and Siemens AG among others.
What will the Diagnostic Imaging Market Size in Europe be During the Forecast Period?
Download the Free Report Sample to Unlock the Diagnostic Imaging Market Size in Europe for the Forecast Period and Other Important Statistics
Diagnostic Imaging Market in Europe: Key Drivers, Trends, and Challenges
The increasing prevalence of chronic conditions in Europe is notably driving the diagnostic imaging market growth in Europe, although factors such as high costs associated with diagnostic imaging may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the diagnostic imaging industry in Europe. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Diagnostic Imaging Market Driver in Europe
The increasing prevalence of chronic conditions is one of the key drivers supporting the diagnostic imaging market growth in Europe. In 2020, the five commonly diagnosed cancer types were lung cancer, breast cancer, prostate cancer, colorectal cancer, and stomach cancer. These accounted for approximately 49% of all diagnosed cases of cancer. Among these cancers, lung cancer and breast cancer accounted for the largest number of diagnosed cases. The prevalence of various types of cancers is increasing. As per a report Joint Research Centre (JRC) Europe more than 2.9 million people were diagnosed with cancer in 2020 and 1.3 million died from it. Thus, the high incidence of cancer is increasing the demand for cancer screening and diagnoses, which is expected to drive market growth during the forecast period.
Key Diagnostic Imaging Market Trend in Europe
Integration of Artificial Intelligence (AI) with diagnostic imaging is another factor supporting the diagnostic imaging market growth in Europe. The integration of artificial intelligence (AI) with diagnostic imaging enables end-users to automate and standardize complex diagnostic procedures, improve patient experience and outcomes, and reduce the cost of care. It also enhances the features of diagnostic imaging equipment. It produces a large volume of data from the result of X-rays, CT scans, magnetic resonance imaging (MRI), and other testing modalities. Meanwhile, the integration of AI enables radiologists and technicians to increase productivity, improve accuracy, and reduce errors in diagnosis. Such factors will boost the market growth in Europe during the forecast period.
Key Diagnostic Imaging Market Challenge in Europe
High costs associated with diagnostic imaging is hindering the diagnostic imaging market growth in Europe. For instance, the average cost of an MRI machine is $150,000-$300,000. Also, additional costs are needed for their remodeling, installation, and maintenance. The equipment requires annual service maintenance. It includes the cost of preventative maintenance, parts, labor charges, and the allowance paid to technicians. This further increases the cost for end-users, such as hospitals, diagnostic centers, and clinics. also, the cost of the single procedure includes hospital stay, facilities, and the fees of physicians and support staff, which depends on the type of hospital setting. Such high costs may be a challenge for the market growth during the forecast period.
This diagnostic imaging market in Europe analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the diagnostic imaging market in Europe as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the diagnostic imaging market in Europe during the forecast period.
Who are the Major Diagnostic Imaging Market Vendors in Europe?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Agfa-Gevaert NV
- Canon Inc.
- Esaote Spa
- FUJIFILM Holdings Corp.
- General Electric Co.
- Hologic Inc.
- Koninklijke Philips NV
- Onex Corp.
- Shimadzu Corp.
- Siemens AG
This statistical study of the diagnostic imaging market in Europe encompasses successful business strategies deployed by the key vendors. The diagnostic imaging market in Europe is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Canon Inc - The company offers diagnostic imaging products such as Aplio i-series ultrasound.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The diagnostic imaging market in Europe forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Diagnostic Imaging Market in Europe Value Chain Analysis
Our report provides extensive information on the value chain analysis for the diagnostic imaging market in Europe, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
Which are the Key Regions for Diagnostic Imaging Market in Europe?
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51% of the market's growth will originate from Rest of Europe during the forecast period. Sweden, the UK, and Finland are the key markets for diagnostic imaging market in Europe. Market growth in this region will be faster than the growth of the market in other regions.
The high adoption of technologically advanced diagnostic devices will facilitate the diagnostic imaging market in Europe growth in Rest of Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
Owing to the outbreak of COVID-19, the demand for medical imaging procedures witnessed exponential growth in Sweden during the first half of 2020. Therefore, due to the incidence of viral diseases that affect the respiratory system, the demand for X-rays and CT scanners increased in 2020, which will contribute to the growth of the diagnostic imaging market in Sweden during the forecast period.
What are the Revenue-generating Type Segments in the Diagnostic Imaging Market in Europe?
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The diagnostic imaging market share growth in Europe by the X-rays segment will be significant during the forecast period. The digital X-ray systems segment is currently in a high-growth phase and is expected to remain the same during the forecast period. The market has substantially benefitted from the increasing adoption of digital radiography (DR) systems in Europe. The increase in the adoption of DR systems can be attributed to the demand for digital X-ray systems, which is primarily driven by the growing need to diagnose chronic diseases, such as breast cancer and spinal disorders.
This report provides an accurate prediction of the contribution of all the segments to the growth of the diagnostic imaging market size in Europe and actionable market insights on post COVID-19 impact on each segment.
Diagnostic Imaging Market Scope in Europe
Growth momentum & CAGR
Accelerate at a CAGR of 6.70%
Market growth 2022-2026
$ 2.94 billion
YoY growth (%)
Sweden, UK, Finland, and Rest of Europe
Performing market contribution
Rest of Europe at 51%
Key consumer countries
Sweden, UK, and Finland
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Agfa-Gevaert NV, Canon Inc., Esaote Spa, FUJIFILM Holdings Corp., General Electric Co., Hologic Inc., Koninklijke Philips NV, Onex Corp., Shimadzu Corp., and Siemens AG
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this Diagnostic Imaging Market in Europe Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive diagnostic imaging market growth in Europe during the next five years
- Precise estimation of the diagnostic imaging market size in Europe and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the diagnostic imaging industry in Europe across Sweden, the UK, Finland, and Rest of Europe
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of diagnostic imaging market vendors in Europe
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1. Executive Summary
2. Market Landscape
2.1 Market ecosystem
Exhibit 01: Parent market
2.2: Market Characteristics
2.3 Value chain analysis
Exhibit 02: Value chain analysis: Healthcare Equipment
2.2.1 Research and development
2.2.5 Marketing and sales
2.2.6 Post-sales and services
2.2.7 Industry innovations
3. Market Sizing
3.1 Market definition
Exhibit 03: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 04: Market segments
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 05: Global - Market size and forecast 2021 - 2026 ($ million)
Exhibit 06: Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 07: Five forces analysis 2020 & 2025
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
Exhibit 08: Market condition - Five forces 2021
5 Market Segmentation by Type
5.1 Market segments
The segments covered in this chapter are:
- MRI scans
- CT scans
Exhibit 09: Type - Market share 2021-2026 (%)
5.2 Comparison by Type
Exhibit 10: Comparison by Type
5.3 X-rays - Market size and forecast 2021-2026
Exhibit 11: X-rays - Market size and forecast 2021-2026 ($ million)
Exhibit 12: X-rays - Year-over-year growth 2021-2026 (%)
5.4 Ultrasound - Market size and forecast 2021-2026
Exhibit 13: Ultrasound - Market size and forecast 2021-2026 ($ million)
Exhibit 14: Ultrasound - Year-over-year growth 2021-2026 (%)
5.5 MRI scans - Market size and forecast 2021-2026
Exhibit 15: MRI scans - Market size and forecast 2021-2026 ($ million)
Exhibit 16: MRI scans - Year-over-year growth 2021-2026 (%)
5.6 CT scans - Market size and forecast 2021-2026
Exhibit 17: CT scans - Market size and forecast 2021-2026 ($ million)
Exhibit 18: CT scans - Year-over-year growth 2021-2026 (%)
5.7 Others - Market size and forecast 2021-2026
Exhibit 19: Others - Market size and forecast 2021-2026 ($ million)
Exhibit 20: Others - Year-over-year growth 2021-2026 (%)
5.8 Market opportunity by Type
Exhibit 21: Market opportunity by Type
6 Customer landscape
Exhibit 22: Customer landscape
7 Geographic Landscape
7.1 Geographic segmentation
Exhibit 23: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 24: Geographic comparison
7.3 Sweden - Market size and forecast 2021-2026
Exhibit 25: Sweden - Market size and forecast 2021-2026 ($ million)
Exhibit 26: Sweden - Year-over-year growth 2021-2026 (%)
7.4 UK - Market size and forecast 2021-2026
Exhibit 27: UK - Market size and forecast 2021-2026 ($ million)
Exhibit 28: UK - Year-over-year growth 2021-2026 (%)
7.5 Finland - Market size and forecast 2021-2026
Exhibit 29: Finland - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Finland - Year-over-year growth 2021-2026 (%)
7.6 Rest of Europe - Market size and forecast 2021-2026
Exhibit 31: Rest of Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 32: Rest of Europe - Year-over-year growth 2021-2026 (%)
7.7 Market opportunity by geography
Exhibit 33: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Increasing prevalence of chronic conditions In Europe
8.1.2 Technological advancements and upgrades in medical imaging modalities
8.1.3 Growing importance of tele-imaging
8.2 Market challenges
8.2.1 High costs associated with diagnostic imaging
8.2.2 Stringent regulatory framework
8.2.3 Product recall
Exhibit 34: Impact of drivers and challenges
8.3 Market trends
8.3.1 Integration of Artificial Intelligence (AI) with diagnostic imaging
8.3.2 Emergence of blockchain technology and growing demand for cloud computing in medical imaging
8.3.3 Focus on portable, wearable, and wireless imaging devices
9. Vendor Landscape
9.1 Competitive scenario
9.2 Vendor landscape
Exhibit 35: Vendor Landscape
9.3 Landscape disruption
Exhibit 36: Landscape disruption
9.4 Industry risks
Exhibit 37: Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 38: Vendors covered
10.2 Market positioning of vendors
Exhibit 39: Market positioning of vendors
10.3 Agfa-Gevaert NV
Exhibit 40: Agfa-Gevaert NV - Overview
Exhibit 41: Agfa-Gevaert NV - Business segments
Exhibit 42: Agfa-Gevaert NV - Key offerings
Exhibit 43: Agfa-Gevaert NV - Segment focus
10.4 Canon Inc.
Exhibit 44: Canon Inc. - Overview
Exhibit 45: Canon Inc. - Business segments
Exhibit 46: Canon Inc. -Key news
Exhibit 47: Canon Inc. - Key offerings
Exhibit 48: Canon Inc. - Segment focus
10.5 Esaote Spa
Exhibit 49: Esaote Spa - Overview
Exhibit 50: Esaote Spa - Product and service
Exhibit 51: Esaote Spa – Key news
Exhibit 52: Esaote Spa - Key offerings
10.6 FUJIFILM Holdings Corp.
Exhibit 53: FUJIFILM Holdings Corp. - Overview
Exhibit 54: FUJIFILM Holdings Corp. - Business segments
Exhibit 55: FUJIFILM Holdings Corp. – Key news
Exhibit 56: FUJIFILM Holdings Corp. - Key offerings
Exhibit 57: FUJIFILM Holdings Corp. - Segment focus
10.7 General Electric Co.
Exhibit 58: General Electric Co. - Overview
Exhibit 59: General Electric Co. - Business segments
Exhibit 60: General Electric Co. – Key news
Exhibit 61: General Electric Co. - Key offerings
Exhibit 62: General Electric Co. - Segment focus
10.8 Hologic Inc.
Exhibit 63: Hologic Inc. - Overview
Exhibit 64: Hologic Inc. - Business segments
Exhibit 65: Hologic Inc. – Key news
Exhibit 66: Hologic Inc. - Key offerings
Exhibit 67: Hologic Inc. - Segment focus
10.9 Koninklijke Philips NV
Exhibit 68: Koninklijke Philips NV - Overview
Exhibit 69: Koninklijke Philips NV - Business segments
Exhibit 70: Koninklijke Philips NV – Key news
Exhibit 71: Koninklijke Philips NV - Key offerings
Exhibit 72: Koninklijke Philips NV - Segment focus
10.10 Onex Corp.
Exhibit 73: Onex Corp. - Overview
Exhibit 74: Onex Corp. - Business segments
Exhibit 75: Onex Corp. – Key news
Exhibit 76: Onex Corp. - Key offerings
Exhibit 77: Onex Corp. - Segment focus
10.11 Shimadzu Corp.
Exhibit 78: Shimadzu Corp. - Overview
Exhibit 79: Shimadzu Corp. - Business segments
Exhibit 80: Shimadzu Corp. - Key offerings
Exhibit 81: Shimadzu Corp. – Key news
Exhibit 82: Shimadzu Corp. - Segment focus
10.12 Siemens AG
Exhibit 83: Siemens AG - Overview
Exhibit 84: Siemens AG - Business segments
Exhibit 85: Siemens AG – Key news
Exhibit 86: Siemens AG - Key offerings
Exhibit 87: Siemens AG - Segment focus
11.1 Scope of the report
11.1.1 ????Market definition
11.1.3 ????Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 88: ?Currency conversion rates for US$?
11.3 Research Methodology
Exhibit 89: ?Research Methodology
Exhibit 90: ??Validation techniques employed for market sizing?
Exhibit 91: ??Information sources
11.4 List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Increasing prevalence of chronic conditions in Europe
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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