Radiology Devices Market Share

APAC Market Statistics

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. Asia Pacific industry is expected to dominate majority revenue share by 2036, owing to increased spending by governmental and non-governmental agencies on improving healthcare infrastructure in the region.

North America Market Analysis

Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the adoption of most advanced technology, accompanied by the presence of leading healthcare service providers in the region. Along with this, North America also leads in terms of adoption of minimally invasive treatments, which is also expected to contribute to the market growth in the region.

Europe Market Analysis

Alternatively, the market in Europe is also anticipated to occupy a significant share in the market on account of rising use of minimally invasive diagnostic procedures and high prevalence of chronic diseases in the region. According to European Commission, chronic diseases characterize the main share of burden of diseases in Europe and are accountable for 86% of all deaths.

Frequently Asked Questions (FAQ)

Rapidly increasing elderly population and consequent increase in prevalence of age-related diseases, along with advancement of radiological technologies are the key factors driving market growth.

The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.

High costs associated with radiological tests and lack of necessary infrastructure in lower economic regions are estimated to hamper market growth.

The market in Asia Pacific region will provide ample growth opportunities owing to the increased spending by governmental and non-governmental agencies on improving healthcare infrastructure in the region.

The major players dominating the radiology devices market are Canon Medical Systems Corporation, Esaote SpA, GE Healthcare, and Fujifilm Holdings Corporation among others.

Radiology Devices Market Share