Report : Europe Medical Imaging Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (CT Systems, X-ray Systems, PET Systems, MRI systems, Ultrasound Systems, and Others); End User (Hospitals, OP Centers, Clinicians Offices, and Emergency Care Centers)
X-ray Systems Segment has the Largest Share of Product in the Europe Medical Imaging Market during 2021–2028
According to a new market research study on “Europe Medical Imaging Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, and End User” is expected to reach US$ 10,003.1 million by 2028 from US$ 7,703.9 million in 2021. The market is estimated to grow at a CAGR of 3.8% from 2021 to 2028. The report provides trends prevailing in the Europe Medical imaging market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the introduction of technological advanced systems and the increasing demand for early diagnosis are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the declining reimbursements.
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 market.
The market for medical imaging market is segmented into product, and end user. Based on product, the medical imaging market is segmented into CT Systems, X-ray Systems, PET Systems, MRI systems, Ultrasound Systems and Others. In 2020, the X-ray Systems segment accounted for the highest share of the market. Growth of this segment is primarily driven by the increasing use of the interventional x-ray systems including C-arms and others, for image guided surgeries. Further, the new generation of mobile X-ray units offers more advantages in terms of efficiency and cost savings than standalone X-ray systems. Wireless mobile X-ray systems offer flexibility to healthcare facilities, enabling them to share medical images between mobile systems or between fixed-room and mobile systems.
General Electric Company, Siemens AG, Koninklijke Philips N.V., Shimadzu Corporation, Hitachi, Ltd., Canon Inc., Hologic, Inc., Carestream Health Inc., ESAOTE SPA, and Samsung Group are among the leading companies in the Europe medical imaging market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in March 2021, Vscan AirTM is a cutting-edge, wireless pocket-sized ultrasound launched by GE Healthcare that offers crystal clear image quality, whole-body scanning capabilities, and intuitive software in the palm of clinicians' hands.
The market for medical imaging market is segmented into product, and end user. Based on product, the medical imaging market is segmented into CT systems, X-ray systems, PET systems, MRI systems, ultrasound systems, and others. Based on end user, the medical imaging market is segmented into hospitals, OP centers, clinician’s offices, and emergency care centers. Geographically, the medical imaging market is segmented into Europe (Germany, UK, France, Spain, Italy, Rest of Europe).