The medical imaging market in Europe is expected to grow from US$ 7,703.9 million in 2021 to US$ 10,003.1 million by 2028; it is estimated to grow at a CAGR of 3.8% from 2021 to 2028.
Diagnostic testing is an integral part of the healthcare system, providing essential information to enable providers and patients to make the right clinical decisions. Indeed, around 75% of clinical decisions are based on a diagnostic test. Demand for access to quicker and accurate diagnosis is rising at a rate of 10% per year, increasing the cost and putting pressure on the capacity and capability of diagnostic providers. From the patient point of view, early detection and diagnosis can prevent unnecessary pain and suffering. It can also reduce the scale and cost of treatment. A large body of research links early diagnosis to measurable health gains, such as improved survival rates and lower treatment costs. Further, government awareness will further propel the market growth. For instance, Be Clear on Cancer campaigns aim to improve early diagnosis of cancer by raising public awareness of signs and symptoms of cancer and encourage people to see their GP without delay. The programme is led by Public Health England, working in partnership with the Department of Health and NHS England.
Increasing COVID-19 has impacted the diagnosis and treatment of diseases, due to the diversification of the medical work force and decision to focus on treating the critically ill. Due to the current pandemic, many cancer research organizations which are dealing with Ultrasound Transducers treatment are not taking appointments to avoid anxiety associated with same. Due to new clinical practice breast oncologist are prioritizing their patients and making difficult choices by offering less treatment. The specificity and sensitivity in the chest were determined majorly with the help of computed tomography among COVID-19 positive patients. The scale of the COVID-19 pandemic has resulted in the acquisition of huge volumes of imaging data. Traditionally, research using imaging data constituted collation of data within single hospitals or groups of hospitals at most. Thus, the volumes of medical imaging performed by patients suffering with COVID-19 among various countries of Europe is likely to pose a positive impact on growth of the Europe Medical Imaging market
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the medical imaging market. The Europe medical imaging market is expected to grow at a good CAGR during the forecast period.
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Europe Medical Imaging Market Segmentation
By Product
- CT Systems
- X-ray Systems
- PET Systems
- MRI systems
- Ultrasound Systems
- Others
By End User
- Hospitals
- OP Centres
- Clinicians Offices
- Emergency Care Centres
By Country
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Companies Mentioned
- General Electric Company
- Siemens AG
- Koninklijke Philips N.V.
- Shimadzu Corporation
- Hitachi, Ltd.
- Canon Inc.
- Hologic, Inc.
- Carestream Health Inc.
- ESAOTE SPA
- Samsung Group
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Medical Imaging Market – By Product
1.3.2 Medical Imaging Market – By End User
1.3.3 Europe Medical Imaging Market – By Country
2. Europe Medical Imaging Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Medical Imaging Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Medical Imaging Market- Europe PEST Analysis
4.3 Expert Opinion
5. Europe Medical Imaging Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Introduction of Technologically Advanced Systems
5.1.2 Increasing Demand for Early Diagnosis
5.2 Market Restraints
5.2.1 Declining Reimbursements
5.3 Market Opportunities
5.3.1 Big Data and Analytics
5.4 Future Trends
5.4.1 3D Capabilities
5.5 Impact Analysis
6. Medical Imaging Market – Europe Analysis
6.1 Europe Medical Imaging Market Revenue Forecasts and Analysis
7. Europe Medical Imaging Market Analysis and Forecasts To 2028 – By Product
7.1 Overview
7.2 Medical Imaging Market Revenue Share, by Product 2020 and 2028)
7.3 CT Systems
7.3.1 Overview
7.3.2 CT Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
7.4 X-Ray Systems
7.4.1 Overview
7.4.2 X-Ray Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
7.5 MRI Systems
7.5.1 Overview
7.5.2 MRI Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
7.6 PET Systems
7.6.1 Overview
7.6.2 PET Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
7.7 Ultrasound Systems
7.7.1 Overview
7.7.2 Ultrasound Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
7.8 Others
7.8.1 Overview
7.8.2 Others: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
8. Medical Imaging Market Analysis – By End User
8.1 Overview
8.2 Medical Imaging Market, by End User, 2020 and 2028 (%)
8.3 Hospitals
8.3.1 Overview
8.3.2 Hospitals: Medical Imaging Market – Revenue and Forecast to 2028 (US$ Million)
8.4 OP Centers
8.4.1 Overview
8.4.2 OP Centers: Medical Imaging Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Clinician’s Office
8.5.1 Overview
8.5.2 Clinician’s Office: Medical Imaging Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Emergency Care Centers
8.6.1 Overview
8.6.2 Emergency Care Centers: Medical Imaging Market – Revenue and Forecast to 2028 (US$ Million)
9. Medical Imaging Market Revenue and Forecasts to 2028 – Geographical Analysis
9.1 Europe: Medical Imaging Market Revenue and Forecasts to 2028
9.1.1 UK Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
9.1.1.1 UK Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
9.1.1.2 UK Medical Imaging Market Revenue and Forecasts to 2028, By Product (US$ Mn)
9.1.1.3 UK Medical Imaging Market Revenue and Forecasts to 2028, by End User (US$ Mn)
9.1.2 Germany Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
9.1.2.1 Germany Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
9.1.2.2 Germany Medical Imaging Market Revenue and Forecasts to 2028, By Product (US$ Mn)
9.1.2.3 Germany Medical Imaging Market Revenue and Forecasts to 2028, by End User (US$ Mn)
9.1.3 France Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
9.1.3.1 France Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
9.1.3.2 France Medical Imaging Market Revenue and Forecasts to 2028, By Product (US$ Mn)
9.1.3.3 France Medical Imaging Market Revenue and Forecasts to 2028, by End User (US$ Mn)
9.1.4 Italy Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
9.1.4.1 Italy Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
9.1.4.2 Italy Medical Imaging Market Revenue and Forecasts to 2028, By Product (US$ Mn)
9.1.4.3 Italy Medical Imaging Market Revenue and Forecasts to 2028, by End User (US$ Mn)
9.1.5 Spain Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
9.1.5.1 Spain Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
9.1.5.2 Spain Medical Imaging Market Revenue and Forecasts to 2028, By Product (US$ Mn)
9.1.5.3 Spain Medical Imaging Market Revenue and Forecasts to 2028, by End User (US$ Mn)
9.1.6 Rest of Europe Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
9.1.6.1 Rest of Europe Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
9.1.6.2 Rest of Europe Medical Imaging Market Revenue and Forecasts to 2028, By Product (US$ Mn)
9.1.6.3 Rest of Europe Medical Imaging Market Revenue and Forecasts to 2028, by End User (US$ Mn)
10. Impact Of COVID-19 Pandemic on Europe Medical Imaging Market
10.1 Europe: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.3.1 Overview
11.4 Inorganic Developments
11.4.1 Overview
12. Company Profiles
12.1 General Electric Company
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Siemens AG
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Koninklijke Philips N.V.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 SHIMADZU CORPORATION
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Hitachi, Ltd.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Canon Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Hologic, Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Carestream Health Inc.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 ESAOTE SPA
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Samsung Group
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About the Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. UK Medical Imaging Market Revenue and Forecasts to 2028, By Product (US$ Mn)
Table 2. UK Medical Imaging Market Revenue and Forecasts to 2028, by End User (US$ Mn)
Table 3. Germany Medical Imaging Market Revenue and Forecasts to 2028, By Product (US$ Mn)
Table 4. Germany Medical Imaging Market Revenue and Forecasts to 2028, by End User (US$ Mn)
Table 5. France Medical Imaging Market Revenue and Forecasts to 2028, By Product (US$ Mn)
Table 6. France Medical Imaging Market Revenue and Forecasts to 2028, by End User (US$ Mn)
Table 7. Italy Medical Imaging Market Revenue and Forecasts to 2028, By Product (US$ Mn)
Table 8. Italy Medical Imaging Market Revenue and Forecasts to 2028, by End User (US$ Mn)
Table 9. Spain Medical Imaging Market Revenue and Forecasts to 2028, By Product (US$ Mn)
Table 10. Spain Medical Imaging Market, by End User – Revenue and Forecast to 2028 by End User (USD Million)
Table 11. Rest of Europe Medical Imaging Market Revenue and Forecasts to 2028, By Product (US$ Mn)
Table 12. Rest of Europe Medical Imaging Market Revenue and Forecasts to 2028, by End User (US$ Mn)
Table 13. Organic Developments Done By Companies
Table 14. Inorganic Developments Done by Companies
Table 15. Glossary of Terms, Medical imaging Market
LIST OF FIGURES
Figure 1. Medical Imaging Market Segmentation
Figure 2. Europe Medical Imaging Market Overview
Figure 3. X-ray Systems Segment Held Largest Share Of Product In Medical Imaging Market
Figure 4. UK is Expected to Show Remarkable Growth During the Forecast Period
Figure 5. Medical Imaging Market - Europe PEST Analysis
Figure 6. Medical Imaging Market Impact Analysis of Driver and Restraints
Figure 7. Europe Medical Imaging Market – Revenue Forecasts and Analysis – 2020- 2028
Figure 8. Medical Imaging Market Revenue Share, by Product (2020 and 2028)
Figure 9. CT Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 10. X-Ray Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 11. MRI Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 12. PET Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 13. Ultrasound Systems: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 14. Others: Medical Imaging Market– Revenue and Forecast to 2028 (US$ Million)
Figure 15. Medical Imaging Market, by End User, 2020 and 2028 (%)
Figure 16. Hospitals: Medical Imaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. OP Centers: Medical Imaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Clinician’s Office: Medical Imaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Emergency Care Centers: Medical Imaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Europe Medical Imaging Market Revenue Overview, by Country, 2020 (US$ MN)
Figure 21. Europe Medical Imaging Market Revenue and Forecasts to 2028, By Country (%)
Figure 22. UK Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 23. Germany Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 24. France Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 25. Italy Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 26. Spain Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 27. Rest of Europe Medical Imaging Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 28. Impact of COVID-19 Pandemic in European Country Markets
Figure 29. Growth Strategies Done by the Companies in the Market, (%)
- General Electric Company
- Siemens AG
- Koninklijke Philips N.V.
- Shimadzu Corporation
- Hitachi, Ltd.
- Canon Inc.
- Hologic, Inc.
- Carestream Health Inc.
- ESAOTE SPA
- Samsung Group
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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