Diagnostic Imaging Devices - Belgium

The projected revenue in the Diagnostic Imaging Devices market market in Belgium is anticipated to reach US$397.00m in 2024.
This represents a substantial growth potential for the market in the country.
Moreover, it is expected that the revenue will continue to grow at an annual compound annual growth rate (CAGR) of 3.43% from 2024 to 2029.
This will result in a significant market volume of US$469.80m by 2029.
When compared to other countries globally, it is worth noting that the United States is expected to generate the highest revenue in the market.
In 2024, it is projected to reach an impressive amount of US$11.93bn.
This highlights the dominance of the United States in terms of market size and potential in the Diagnostic Imaging Devices market industry.
Belgium's demand for state-of-the-art diagnostic imaging devices is driven by the country's commitment to providing high-quality healthcare services.

Definition:
The market covers diagnostic imaging devices such as X-ray systems, ultrasound systems, computed tomography scanners, Magnetic resonance imaging (MRT) systems, and related components.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Siemens Healthineers, General Electric, Philips, Fujifilm Holdings. Further information on the key players can be found in the Market Shares boxes.

X-ray systems
Computed tomography (CT) scanners
Magnetic resonance imaging (MRT) systems
Positron emission tomography (PET) scanners

Non-imaging diagnostics
In vitro diagnostics (IVD)

The Diagnostic Imaging Devices market in Belgium has been experiencing steady growth in recent years. Customer preferences in the Diagnostic Imaging Devices market in Belgium have been shifting towards more advanced and innovative imaging technologies. Customers are increasingly demanding devices that offer higher image quality, faster scanning times, and improved patient comfort. This trend is driven by the need for more accurate and efficient diagnosis, as well as the desire to provide a better patient experience. Additionally, there is a growing demand for portable and handheld imaging devices, which allow for greater flexibility and convenience in healthcare settings. One of the key trends in the Diagnostic Imaging Devices market in Belgium is the increasing adoption of digital imaging technologies. Digital imaging offers several advantages over traditional film-based systems, including faster image acquisition, enhanced image quality, and the ability to easily store and share images. This trend is driven by the need for more efficient and streamlined workflows, as well as the desire to reduce costs associated with film processing and storage. Additionally, the integration of digital imaging with other healthcare IT systems, such as electronic health records, is becoming increasingly important in Belgium. Another trend in the Diagnostic Imaging Devices market in Belgium is the growing use of artificial intelligence (AI) and machine learning (ML) in imaging devices. AI and ML technologies have the potential to improve the accuracy and efficiency of image interpretation, as well as assist in the early detection of diseases. These technologies can analyze large amounts of imaging data and provide valuable insights to healthcare professionals. The adoption of AI and ML in imaging devices is expected to increase in the coming years, as the technology continues to advance and become more accessible. Local special circumstances in Belgium, such as the presence of a well-developed healthcare system and a high level of healthcare expenditure, contribute to the growth of the Diagnostic Imaging Devices market. Belgium has a strong focus on providing high-quality healthcare services, which drives the demand for advanced imaging technologies. Additionally, the country has a high prevalence of chronic diseases, such as cardiovascular diseases and cancer, which require the use of diagnostic imaging devices for early detection and treatment. Underlying macroeconomic factors, such as population aging and increasing healthcare expenditure, also play a role in the growth of the Diagnostic Imaging Devices market in Belgium. The aging population in Belgium is driving the demand for diagnostic imaging devices, as older individuals are more likely to require medical imaging for the diagnosis and monitoring of age-related conditions. Furthermore, the government's commitment to investing in healthcare infrastructure and technology, coupled with increasing healthcare spending, creates a favorable environment for the growth of the Diagnostic Imaging Devices market in Belgium.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.