Since the introduction of medical imaging devices in the 20th century, the utilization of medical imaging technology has been gaining ground in Europe, aided by the enhanced healthcare policies and growing availability of high-quality medical equipment.
Since the introduction of medical imaging devices in the 20th century, the utilization of medical imaging technology has been gaining ground in Europe, aided by the enhanced healthcare policies and growing availability of high-quality medical equipment. Safe, effective, and advanced medical imaging is of utmost importance in medical decision-making, reducing unnecessary procedures, and to ensure overall outcome of treatments.
With novel imaging technologies being introduced every other day, the faith in modern medicine has been reinforced, especially in the bleak times of the COVID-19 pandemic. To cite an instance, researchers at the Friedrich Loeffler Institut in Germany have been able to successfully detect SARS-CoV-2 infection in 3D tissue samples of ferrets using light-sheet fluoroscence microscopy, which can produce an 8x magnified image.
The following top four trends have been defining the growth of European market:
Europe medical imaging market to transcend 13.3 billion by 2026 due to preference for minimally invasive surgeries
The Europe medical imaging market size was estimated at $9.4 billion in 2019 and is anticipated to witness a surging CAGR of 5.1% between 2020 and 2026, as new technologies in the area of medicine foray into the commercial practices. As minimally invasive surgeries offer the benefits of traditional ones, along with significantly reduced pain, recovery time, and negligible scarring. Minimally invasive surgeries assure higher accuracy since they deploy a camera to facilitate the surgeon a better visualization of the internal organs. As a result, the market for medical imaging in Europe is anticipated to surpass 13.3 billion by 2026.
Extensive deployment to push nuclear imaging segment at the fore
By product type, the European market has been segmented into magnetic resonance imaging, mammography, computed tomography, nuclear imaging, ultrasound, and X-ray imaging. Of these, the nuclear imaging segment is expected to be the prime contributor, growing at a healthy CAGR of 6.5% over the forecast timeline. The extensive application of the nuclear imaging systems across a spectrum of applications including blood imbalances, hyperthyroidism, and thyroid cancer has been assisting the market to advance rapidly.
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Growing at a 5% CAGR, UK’s growth inevitable as investments rise
The UK market will garner considerable revenue over the forthcoming times and is anticipated to exhibit singular growth at a CAGR of 5%. The heavy investments in the development of technologically advanced medical imaging products and services is one of the prominent growth drivers of this region. The high disposable incomes of citizens of this nation, coupled with the vast healthcare expenditures has also been supporting growth. The presence of some notable companies offering medical imaging products and services such as Siemens and Accenture is also likely to push the market further.
Influenced by adoption of advanced healthcare facilities, growth of hospitals in the offing
Hospitals and diagnostic centers are some prime end-user segments of the Europe medical imaging market. Hospitals are projected to exhibit singular expansion, driven by the availability of advanced healthcare facilities that comprise of various imaging processes and modalities to image the human anatomy for diagnostic and treatment purposes. As hospitals are frequently opted for due to their esteemed medical judgment, the growth of the hospital segment is close at hand.
Some prominent companies offering medical imaging products and services include GE Healthcare, Siemens Healthineers, Esaoate SpA, and Fujifilm Corporation. To stay ahead of the game, several of these market players are launching innovative products. For instance, Advantech, a prominent provider of computing solutions and platforms, announced the addition of a 55-inch widescreen ultra-high-definition (UHD)monitor for surgical imaging.
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