The Spain diagnostic imaging equipment market size was valued at USD 48.70 Billion in 2022 and is projected to reach USD 74.90 Billion by 2031, expanding at a CAGR of 4.9% during the forecast period, 2023-2031. Growth of the market is attributed to the development of advanced devices, rising healthcare expenditure, increasing government initiatives, and growing cases of injuries & accidents.
Imaging equipment like ultrasound and radiographic machines contains research support programs. Magnetic resonance imaging (MRI), x-rays, and computed tomography (CT) scans are additional equipment’s that are used as human research apparatuses.
The Covid-19 pandemic affected the demand and supply of Spain diagnostic imaging equipment. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Spain Diagnostic Imaging Equipment Market Trends, Drivers, Restraints, and Opportunities
- Increase in outpatient surgeries is projected to boost the market in the coming years.
- Rise in minimally invasive surgical procedures is major factor fueling the market during the forecast period.
- High cost of diagnostic imaging equipment is anticipated to hamper market growth.
- Lack of skilled technicians to operate diagnostic imaging equipment is projected to hinder the market expansion in the coming years.
- R&D investment and technological advancement in diagnostic imaging equipment is projected to create lucrative opportunities for the market players.
Scope of Spain Diagnostic Imaging Equipment Market Report
The report on the Spain diagnostic imaging equipment market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Diagnostic Imaging Equipment Market – Spain Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016-2021
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Forecast Period
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2023-2031
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Segmentation
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Modality (Fluoroscopy, Computed Tomography, MRI, Ultrasound, Nuclear Imaging, Mammography, and X-Ray), Applications (Oncology, Cardiology, Neurology, Pulmonology, Gynecology, Orthopedic, Laparoscopy, Gastroenterology, ENT Surgery, and Others), End-users (Diagnostic Centers, Hospitals, and Others)
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Country Scope
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Spain
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players covered in the Report
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Toshiba Corp.; Koninklijke Philips N.V.; Hitachi Medical Systems; Fujifilm Holdings Corp.; Carestream Health; GE Healthcare; Esaote SpA; Hologic, Inc.; and Siemens AG
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Spain Diagnostic Imaging Equipment Market Segment Insights
Modality Segment Analysis
Based on modality, the Spain diagnostic imaging equipment market is divided into fluoroscopy, computed tomography, MRI, ultrasound, nuclear imaging, mammography, and x-ray. The handheld devices segment accounts for a key share of the market.
Growth of the market is attributed to increasing adoption of general surgical devices for diagnosis & treatment, rising prevalence of cardiac disease, unhealthy lifestyles, increasing elderly population, and growing number of treatments. However, the electro surgical devices are anticipated to expand at a rapid pace during the forecast period due to increasing patient pool and rising preference for minor invasive surgeries.
Applications Segment Analysis
Based on applications, the market is fragmented into oncology, cardiology, neurology, pulmonology, gynecology, orthopedic, laparoscopy, gastroenterology, ENT surgery, and others. The oncology segment is anticipated to hold a major market share during the forecast period. Growth of the market is attributed to rising population, increasing disposable income, and growing awareness among population.
However, the gynecology segment is anticipated to expand at a rapid pace during the forecast period due to factors such as international companies attracting many investors, technological innovations in surgical devices, and increasing adaptation of stem cell technologies.
End-Users Segment Analysis
On the basis of end-users, the Spain diagnostic imaging equipment market is fragmented into hospitals & clinics, home healthcare, and others. The hospitals & clinics segment accounts for a key share of the market.
Growth of the market is attributed to penetration of monitoring devices in market and increasing per capita income. However, the home healthcare segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing funding from private organizations.
Spain Diagnostic Imaging Equipment Market Outlook
The Spain diagnostic imaging equipment market is anticipated to expand at significant CAGR during the forecast peirod, owing to increasing investment in health care sector and rising adaptation of 3D printing technologies.
In addition, shorter recovery time & minimal postoperative complications, compensation policies pertaining to general surgical devices in developed economies, favorable FDA approvals, and surge in patient preference for minor invasive surgeries are major driving factors of the diagnostic imaging equipment market.
However, high cost of diagnostic imaging equipment and lack of trained professionals and technicians are projected to restrict market growth. On the contrary, unsatisfied medical demands in developing sectors are anticipated to offer lucrative opportunities for market expansion.
Segments
The Spain diagnostic imaging equipment market has been segmented on the basis of
Modality
- Fluoroscopy
- Computed Tomography
- MRI
- Ultrasound
- Nuclear Imaging
- Mammography
- X-Ray
Applications
- Oncology
- Cardiology
- Neurology
- Pulmonology
- Gynecology
- Orthopedic
- Laparoscopy
- Gastroenterology
- ENT Surgery
- Others
Country
Key Players
- Toshiba Corp.
- Koninklijke Philips N.V.
- Hitachi Medical Systems
- Fujifilm Holdings Corp.
- Carestream Health
- GE Healthcare
- Esaote SpA
- Hologic, Inc.
- Siemens AG
Competitive Landscape
Key players competing in the Spain diagnostic imaging equipment market include Toshiba Corp.; Koninklijke Philips N.V.; Hitachi Medical Systems; Fujifilm Holdings Corp.; Carestream Health; GE Healthcare; Esaote SpA; Hologic, Inc.; and Siemens AG
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and rise their production line of the business in the coming years.
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