Diagnostic Imaging Devices - Lesotho

Lesotho's Diagnostic Imaging Devices market market is expected to see a significant increase in revenue, reaching US$1.93m in 2024.
This projection indicates a positive trend for the country's market.
Looking ahead, the market is anticipated to continue growing at an annual growth rate (CAGR 2024-2029) of 5.30%.
By 2029, the market volume is projected to reach US$2.49m, reflecting a steady expansion.
It is worth noting that in Lesotho's market, although showing promising growth, is relatively small compared to global counterparts.
In 2024, the United States is expected to generate the highest revenue in the Diagnostic Imaging Devices market market, amounting to US$11.93bn.
This stark contrast highlights the significant market dominance of the United States in this particular industry.
Despite limited resources, Lesotho is making strides in the adoption of diagnostic imaging devices to improve healthcare outcomes.

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 Lesotho is experiencing steady growth due to a combination of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Lesotho are driving the demand for Diagnostic Imaging Devices. Patients and healthcare providers in the country are increasingly seeking advanced medical technologies to improve diagnostic accuracy and patient outcomes. This has led to a growing demand for Diagnostic Imaging Devices such as X-ray machines, CT scanners, and ultrasound machines. Additionally, there is a preference for portable and mobile imaging devices that can be easily transported to remote areas or rural clinics, where access to healthcare facilities is limited. Trends in the market are also contributing to the development of the Diagnostic Imaging Devices market in Lesotho. Technological advancements in imaging devices have made them more affordable, compact, and user-friendly. This has made it easier for healthcare providers in Lesotho to adopt and integrate these devices into their practices. Furthermore, there is an increasing focus on preventive healthcare and early detection of diseases, which has led to a higher demand for imaging devices that can aid in early diagnosis. Local special circumstances in Lesotho, such as the high prevalence of infectious diseases and a growing geriatric population, are driving the demand for Diagnostic Imaging Devices. Lesotho has a high burden of diseases such as HIV/AIDS and tuberculosis, which require regular monitoring and diagnostic imaging. Additionally, the aging population in the country is increasing the demand for imaging devices to diagnose age-related conditions such as cardiovascular diseases and cancer. Underlying macroeconomic factors are also influencing the development of the Diagnostic Imaging Devices market in Lesotho. The country's healthcare infrastructure is improving, with increased investments in healthcare facilities and medical equipment. This has created a favorable environment for the adoption of Diagnostic Imaging Devices. Furthermore, Lesotho has a growing middle class with increasing disposable income, which has led to a higher demand for quality healthcare services and advanced medical technologies. In conclusion, the Diagnostic Imaging Devices market in Lesotho is developing due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for advanced imaging devices is driven by the need for accurate diagnosis, technological advancements, and the high prevalence of infectious diseases and an aging population. The improving healthcare infrastructure and growing middle class in Lesotho are also contributing to the growth of the market.

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.