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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?

Diagnostic Imaging Market Size

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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?

Diagnostic Imaging Market Market segmentation by region

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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?

Diagnostic Imaging Market Segmentation

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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

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.70%

Market growth 2022-2026

$ 2.94 billion

Market structure

Fragmented

YoY growth (%)

5.11

Regional analysis

Sweden, UK, Finland, and Rest of Europe

Performing market contribution

Rest of Europe at 51%

Key consumer countries

Sweden, UK, and Finland

Competitive landscape

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

Market dynamics

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

Customization purview

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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

                                2.2.2 Inputs

                                2.2.3 Operations

                                2.2.4 Distribution

                                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:

  • X-rays
  • Ultrasound
  • MRI scans
  • CT scans
  • Others

                                 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                           

                6.1 Overview

                                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. Appendix                            

                11.1 Scope of the report         

                                11.1.1 ????Market definition

                                11.1.2 ????Objectives

                                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        

                               

                               

Research Framework

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.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Diagnostic Imaging market growth will increase by $2941.68 million during 2021-2026.
The diagnostic imaging market is expected to grow at a CAGR of 6.70% during 2021-2026.
Technavio has segmented the diagnostic imaging market by type (X-rays, Ultrasound, MRI scans, CT scans, and Others) and geographic (Sweden, UK, Finland, and Rest of Europe).
Agfa-Gevaert NV, Canon Inc., Esaote Spa, FUJIFILM Holdings Corp., General Electric Co., Hologic Inc., Koninklijke Philips NV, Onex Corp., Shimadzu Corp., Siemens AG are a few of the key vendors in the diagnostic imaging market.
Rest of Europe will register the highest growth rate of 51.22% among the other regions. Therefore, the diagnostic imaging market in Rest of Europe is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the diagnostic imaging market growth are:
  • Increasing prevalence of chronic conditions in Europe
The diagnostic imaging market vendors should focus on grabbing business opportunities from the x-rays segment as it accounted for the largest market share in the base year.
  • 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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