Medical Imaging Equipment Market Scope
Medical imaging equipment is used to provide a view into a patient's body so that physicians can make an accurate diagnosis of the patient's condition. There are many different types of imaging equipment, such as X-rays, CT scan (computed tomography scan), MRI (magnetic resonance imaging) and ultrasound. Each imaging type uses a different technology to create an image. The increasing geriatric population across Europe is one of the major factors driving the growth of the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Philips (Netherlands), Siemens (Germany), Canon Medical Systems (Japan), General Electric (United States), Fujifilm (Japan), Hitachi Medical (Japan), Samsung Medison (South Korea), Shimadzu Corp. (Japan), AGFA HealthCare (Belgium) and Carestream Health (United States) |
CAGR | 4.7% |
The market is highly concentrated owing to the presence of three leading players such as GE Healthcare, Siemens, and Philips Healthcare within the European market. Some of the leading players are focusing on technological advancements as well as research & development to cater to the imaging equipment’s as per the market necessities. There are significant opportunities for emerging players owing to the increased demand for imaging equipment’s. Research Analyst at AMA estimates that Global Players will contribute to the maximum growth of Europe Medical Imaging Equipment market throughout the predicted period.
Philips (Netherlands), Siemens (Germany), Canon Medical Systems (Japan), General Electric (United States), Fujifilm (Japan), Hitachi Medical (Japan), Samsung Medison (South Korea), Shimadzu Corp. (Japan), AGFA HealthCare (Belgium) and Carestream Health (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are PLANMED OY (Finland), Shimadzu Corporation (Japan), SternMed GmbH (Germany), PROTEC GmbH & Co. KG (Germany), ONCOVISION (Spain) and Trivitron Healthcare (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Europe Medical Imaging Equipment market by Type , by Application (Cardiology, Neurology, Orthopedics, Gynecology, Oncology and Others) and Region with country level break-up.
On the basis of geography, the market of Medical Imaging Equipment has been segmented into Europe (Germany, France, Spain, United Kingdom, Netherlands, Rest of Europe).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In November 2023, Canon Medical and Cleveland Clinic have announced plans to form a strategic research partnership to develop innovative imaging and healthcare IT technologies for improved diagnosis, care and patient outcomes.
In December 2023, DeepTek.ai, announced the commercial availability of Augmento X-Ray, a one of its kind CADe Chest X-Ray AI solution powered by US FDA Cleared CXR AI at the radiology conference – Radiology Society of North America’s (RSNA) 109th Annual Meeting.
Influencing Trend:
The emergence of Artificial Intelligence (AI) and Virtual Reality & 3D Imaging
Market Growth Drivers:
Increasing Geriatric Population across Europe, Surging Incidences of Chronic Diseases Including Cancer, Cardiovascular diseases and Lifestyle Changes Has Resulted in Increase in Diseases
Challenges:
Highly Concentrated Market
Restraints:
A High Cost of the Products
Opportunities:
Significant New Investments in Healthcare Infrastructure, Technological Advancements Coupled with Research & Development and Equipment Renewals in CT Scanning Are Becoming Urgent Due To Regulatory Mandates Such As Dose Reduction Mandates by the European Commission and Other Entities
Key Target Audience
Medical Imaging Equipment Manufacturers, Medical Imaging Equipment Sub Component Manufacturers, Medical Imaging Equipment Traders/Distributors, Medical Imaging Equipment Importer/Exporter, Potential Technology Investors and Downstream Vendors