Europe Diagnostic Imaging Market By Type (X-Ray Imaging Solutions, Ultrasound Systems, MRI Systems, CT Scanners, Nuclear Imaging Solutions, Mammography, Others), By Mobility (Portable v/s Standalone), By Source (Domestic Vs Import), By Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Others), By End Users (Hospitals & Clinics, Diagnostic Centers, Ambulatory Care Centers, Others), By Country, Competition, Forecast & Opportunities, 2028
Europe diagnostic imaging market is expected to grow at a formidable rate during the forecast period 2024-2028. Europe diagnostic imaging market is driven by the growing occurrences of various chronic diseases along with technological advancements in imaging modalities. The rising number of people suffering from several diseases is surging the demand for diagnostic imaging devices, which, in turn, propels the growth of the market. This is because of the growing demand for early diagnosis. Additionally, the growing popularity of teleradiology across the European region, especially in countries like Germany, is further expected to create lucrative opportunities for market growth over the next few years. The rising adoption of imaging devices in medical evaluation as well as the growing aging population in the country, are other factors that are supporting the growth of the market. Growing investments in developing advanced products and technology by the public as well as private sectors are projected to facilitate the market’s growth.
Growing Prevalence of Various Chronic Diseases
Growing incidences of chronic diseases such as hypertension, heart attack, cancer, diabetes, and others among the rising population, are expected to strengthen the growth of the market. According to the Global Cancer Observatory report, in 2020, about 4,398,443 new cancer cases were registered, out of which 1,955,231 people died. Breast colorectum, lung, prostate, and bladder cancer were the most prevalent cancers in the region. Furthermore, the rising geriatric population is more susceptible to suffering from these diseases, which results in high demand for diagnostic imaging devices. In 2021, Europe had the largest elderly population. In Europe, Germany accounted for the highest elderly population, followed by Italy, France, and the United Kingdom.
Technological Advancements
A rapid rise in the adoption of advanced technology in the diagnostic imaging industry is anticipated to bolster the growth of the market. These technological advancements, such as computed tomography (CBCT) systems, AI-enabled imaging devices, and others, are improving the diagnosis as well as the treatment of diseases. Also, these developments are changing the flexibility, dimensions, and capabilities offered by imaging equipment. Diagnostic imaging devices are becoming smaller and more portable. For instance, in 2021, the machine, Swoop™, developed by biotech company Hyperfine, became Europe's first 'game-changing' portable MRI machine. The machine, Swoop™, has been delivered to King’s College London’s Centre for Neuroimaging Sciences and the Newborn Imaging Centre at the Evelina London Children’s Hospital to further develop and optimize the new MRI device for brain assessment in young people.
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