Diagnostic Imaging Devices - Lithuania

The Diagnostic Imaging Devices market market in Lithuania is anticipated to witness a substantial growth in revenue, with projections indicating it will reach US$36.60m by 2024.
Furthermore, the market is expected to exhibit a steady annual growth rate of 5.10% from 2024 to 2029, resulting in a market volume of US$46.93m by the end of the forecast period.
When compared on a global scale, it is noteworthy that the United States is set to generate the highest revenue in this market, amounting to US$11.93bn in 2024.
Lithuania is witnessing a surge in demand for advanced diagnostic imaging devices, driven by the country's growing healthcare infrastructure and increasing investments in medical technology.

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 Lithuania has been experiencing steady growth in recent years, driven by customer preferences for advanced medical technology and the increasing demand for diagnostic imaging services. Customer preferences in the Diagnostic Imaging Devices market in Lithuania are influenced by the global trend towards more accurate and efficient diagnostic tools. Patients and healthcare professionals in Lithuania are increasingly demanding state-of-the-art diagnostic imaging devices that can provide high-quality images and facilitate accurate diagnoses. This preference for advanced technology is driving the demand for diagnostic imaging devices with features such as high-resolution imaging, real-time imaging, and advanced image analysis capabilities. Trends in the Diagnostic Imaging Devices market in Lithuania are also shaped by the local healthcare landscape. The country has a well-developed healthcare system with a strong emphasis on preventive care and early diagnosis. This focus on early detection and intervention has led to an increased demand for diagnostic imaging devices that can detect diseases and conditions at an early stage. As a result, there is a growing need for imaging devices such as X-ray machines, ultrasound systems, and MRI scanners. Local special circumstances in Lithuania also contribute to the development of the Diagnostic Imaging Devices market. The country has a relatively small population compared to other European countries, which means that the demand for diagnostic imaging devices may be lower than in larger markets. However, Lithuania has a high level of healthcare expenditure per capita, indicating a willingness to invest in advanced medical technology. This creates opportunities for manufacturers and suppliers of diagnostic imaging devices to penetrate the market and meet the demand for high-quality imaging solutions. Underlying macroeconomic factors also play a role in the development of the Diagnostic Imaging Devices market in Lithuania. The country has experienced steady economic growth in recent years, which has led to increased healthcare spending. The government has also implemented policies to improve access to healthcare services and upgrade healthcare infrastructure, which has further fueled the demand for diagnostic imaging devices. Additionally, the aging population in Lithuania is driving the need for diagnostic imaging devices, as older individuals are more likely to require medical imaging for the diagnosis and monitoring of age-related conditions. In conclusion, the Diagnostic Imaging Devices market in Lithuania is developing due to customer preferences for advanced technology, the local focus on early diagnosis, the country's healthcare landscape, and underlying macroeconomic factors such as economic growth and an aging population. Manufacturers and suppliers of diagnostic imaging devices have the opportunity to capitalize on these trends and meet the growing demand for high-quality imaging solutions in Lithuania.

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.