Diagnostic Imaging Devices - Portugal

The Diagnostic Imaging Devices market market in Portugal is forecasted to achieve a revenue of US$272.30m by the year 2024.
Furthermore, it is anticipated to exhibit a compound annual growth rate (CAGR 2024-2029) of 5.32%, ultimately leading to a market volume of US$352.90m by 2029.
When compared globally, the United States is expected to generate the highest revenue of US$11.93bn in 2024.
Portugal's diagnostic imaging device market is experiencing a surge in demand due to the country's increasing focus on improving healthcare infrastructure.

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 Portugal has been experiencing significant growth in recent years.

Customer preferences: Portuguese customers in the Diagnostic Imaging Devices market have shown a strong preference for advanced technology and high-quality imaging devices. They value accuracy, efficiency, and reliability in their diagnostic procedures. Additionally, there is a growing demand for portable and compact imaging devices, as healthcare providers seek to improve accessibility and convenience for patients.

Trends in the market: One of the key trends in the Diagnostic Imaging Devices market in Portugal is the increasing adoption of digital imaging technology. This shift from traditional analog imaging has allowed for more efficient and accurate diagnosis, as well as improved storage and sharing of medical images. Digital imaging devices also offer the advantage of lower radiation exposure for patients. Another trend in the market is the rising demand for ultrasound devices. Ultrasound imaging has become an essential tool in various medical specialties, including obstetrics, cardiology, and radiology. The non-invasive nature of ultrasound procedures, along with the ability to obtain real-time images, has made it a preferred choice for many healthcare providers in Portugal.

Local special circumstances: Portugal has a well-developed healthcare system that provides universal access to medical services. This has contributed to the demand for Diagnostic Imaging Devices, as healthcare providers strive to offer the best possible care to patients. Additionally, the country has a growing elderly population, which has led to an increased need for diagnostic imaging devices in the detection and monitoring of age-related conditions.

Underlying macroeconomic factors: The growth of the Diagnostic Imaging Devices market in Portugal can be attributed to several macroeconomic factors. Firstly, the country has witnessed steady economic growth in recent years, which has resulted in increased healthcare expenditure. This has allowed healthcare providers to invest in advanced diagnostic imaging devices. Furthermore, advancements in technology and innovation have made diagnostic imaging devices more affordable and accessible. This has encouraged healthcare providers to upgrade their equipment and invest in the latest imaging technologies. In conclusion, the Diagnostic Imaging Devices market in Portugal is experiencing growth due to customer preferences for advanced technology and high-quality imaging devices. The increasing adoption of digital imaging technology and the rising demand for ultrasound devices are key trends in the market. The country's well-developed healthcare system, growing elderly population, and steady economic growth are local special circumstances that contribute to the market's development.

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.