Market Insights Health Medical Technology Medical Devices

Diagnostic Imaging Devices - EMEA

EMEA

The Diagnostic Imaging Devices market market in the Europe, Middle East, and Africa (in Europe, the Middle East, and Africa) region is expected to achieve a substantial revenue of US$19.70bn by 2024.
This projection indicates a promising growth potential for the market.
Furthermore, the market is forecasted to display a steady annual growth rate of 4.41% (CAGR 2024-2029), resulting in a market volume of approximately US$24.45bn by 2029.
When comparing the revenue generated globally, it is noteworthy that the United States is anticipated to generate the highest revenue of US$11,930.00m in 2024.
This highlights the dominant position of the United States in the global Diagnostic Imaging Devices market market.
In EMEA, Germany is leading the way in the adoption of advanced Diagnostic Imaging Devices, driving innovation and efficiency in medical diagnostics.

Key regions: Germany, Japan, Netherlands, Spain, United States

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Analyst Opinion

The Diagnostic Imaging Devices market in EMEA is experiencing steady growth due to increasing customer preferences for advanced medical imaging technologies.

Customer preferences: Customers in EMEA are increasingly demanding diagnostic imaging devices that offer high image quality, improved accuracy, and faster results. They are also seeking devices that are user-friendly and provide a comfortable experience for patients. Additionally, there is a growing preference for portable and compact imaging devices that can be easily transported and used in various healthcare settings.

Trends in the market: One of the key trends in the Diagnostic Imaging Devices market in EMEA is the adoption of digital imaging technologies. Digital imaging offers several advantages over traditional film-based imaging, including higher image resolution, faster processing times, and the ability to easily store and share images electronically. This trend is driven by the increasing availability of digital imaging devices and the growing need for efficient and accurate diagnostic tools. Another trend in the market is the integration of artificial intelligence (AI) into diagnostic imaging devices. AI algorithms can analyze medical images and assist healthcare professionals in making accurate diagnoses. This trend is driven by the need to improve diagnostic accuracy and efficiency, as well as the increasing availability of AI technologies in the healthcare industry.

Local special circumstances: In certain countries within EMEA, there are specific local circumstances that are driving the growth of the Diagnostic Imaging Devices market. For example, in countries with aging populations, there is a higher demand for imaging devices that can diagnose age-related conditions such as osteoporosis and cardiovascular diseases. In countries with a high prevalence of infectious diseases, there is a need for imaging devices that can detect and monitor the progression of these diseases.

Underlying macroeconomic factors: The growth of the Diagnostic Imaging Devices market in EMEA is also influenced by underlying macroeconomic factors. For example, the increasing healthcare expenditure in the region is driving the demand for advanced medical technologies, including diagnostic imaging devices. Additionally, the growing emphasis on preventive healthcare and early diagnosis is increasing the demand for diagnostic imaging devices. Furthermore, the presence of a well-established healthcare infrastructure in many countries within EMEA is facilitating the adoption of diagnostic imaging devices. In conclusion, the Diagnostic Imaging Devices market in EMEA is witnessing growth due to customer preferences for advanced imaging technologies, such as digital imaging and AI integration. Local special circumstances, such as aging populations and high prevalence of infectious diseases, are also driving the demand for diagnostic imaging devices. Underlying macroeconomic factors, including increasing healthcare expenditure and emphasis on preventive healthcare, are further contributing to the growth of the market.

Methodology

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.