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Electromedical & Imaging Equipment Manufacturing in Europe - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

ISIC 266 August 2024 Spotlight Report

Revenue

€37.9bn

2019-2024 4.2 %
2024-2029 X.X %

Employees

95,182

2019-2024 1.6 %
2024-2029 X.X %

Businesses

2,869

2019-2024 0.2 %
2024-2029 X.X %

Wages

€X.Xbn

2019-2024 X.X %
2024-2029 X.X %

Electromedical & Imaging Equipment Manufacturing in Europe industry analysis

Driven by the increasing demand for high-tech medical devices for diagnostic and treatment purposes, the Electromedical and Imaging Equipment Manufacturing industry has seen reasonably strong demand in recent years. The industry continues to benefit from the ageing of the European population, with more individuals requiring medical attention and advanced healthcare services. Furthermore, poor lifestyle choices like a lack of exercise or poor eating habits are leading to issues like obesity, inflating demand for medical services. Manufacturers’ reliance on foreign trade, particularly with emerging markets in China, India and Brazil, has also been key in driving revenue, despite challenges posed by fluctuating exchange rates. Supply chain disruptions following the COVID-19 outbreak meant many manufacturers faced delays in deliveries of vital components in the production of imaging equipment, especially computer chips. Revenue is anticipated to fall at a compound annual rate of 4.2% over the five years through 2024 to €37.9 billion, including a forecast dip of 4.2% in 2024.

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Industry Statistics and Trends

Electromedical & Imaging Equipment Manufacturing in Europe key trends

Emerging export markets boost manufacturers’ revenue.

 

A reliance on foreign trade means changes in the value of the euro play a huge role in determining revenue, but strong healthcare spending in China, India and Brazil is supporting exports.

Shifting demographics drive revenue growth.

 

The European population is ageing, inflating the number of people likely to require healthcare or assistance through devices like hearing aids. Growing health awareness is also propelling demand for diagnostic checks.

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Electromedical & Imaging Equipment Manufacturing in Europe

Industry Revenue

Total value and annual change from 2011-2029. Includes 5-year outlook.

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Electromedical & Imaging Equipment Manufacturing in Europe market size (2019-2024)

Industry revenue has declined at a CAGR of 4.2 % over the past five years, to reach an estimated €37.9bn in 2024.

Trends and Insights

The importance of electromedical and imaging equipment in the healthcare sector sustains high demand

  • Manufacturers produce high-tech equipment vital for diagnosing and treating patients with serious health issues. Doctors rely on this equipment (X-ray machines, magnetic resonance scanners and ultrasound machines) to make speedy and accurate diagnoses.

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Electromedical & Imaging Equipment Manufacturing in Europe outlook (2024-2029)

Market size is projected to grow over the next five years.

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Revenue

€37.9bn

2019-2024 4.2 %
2024-2029 X.X %

Employees

95,182

2019-2024 1.6 %
2024-2029 X.X %

Wages

€X.Xbn

2019-2024 X.X %
2024-2029 X.X %

European Leaders & Laggards

Europe Job Growth CAGR: 1.6 % *
  • Job Growth

Top 5 Countries

  1. Portugal +22.6%
  2. Slovenia +15.7%
  3. Denmark +8.8%
  4. Belgium +8.4%
  5. United Kingdom +6.6%

Bottom 5 Countries

  1. Russia -34.8%
  2. Estonia -8.0%
  3. Croatia -7.8%
  4. Greece -7.3%
  5. Bulgaria -5.5%

* CAGR values are for the years 2019-2024.

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Biggest companies in the Electromedical & Imaging Equipment Manufacturing in Europe

Company
Market Share (%)
2024
Revenue (€m)
2024
Profit (€m)
2024
Profit Margin (%)
2024
Siemens Healthineers AG
23,369.7
1,727.4
7.4
GE HealthCare Technologies Inc
10,657.6
1,943.2
18.2
Canon Medical Systems Corporation
24,843.2
2,183.4
8.8

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Electromedical & Imaging Equipment Manufacturing in Europe

Products & Services Segmentation

Industry revenue broken down by key product and services lines.

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Top Questions Answered in this Report

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What is the market size of the Electromedical & Imaging Equipment Manufacturing industry in Europe in 2024?

The market size of the Electromedical & Imaging Equipment Manufacturing industry in Europe is €37.9bn in 2024.

How many businesses are there in the Electromedical & Imaging Equipment Manufacturing in Europe industry in 2024?

There are 2,869 businesses in the Electromedical & Imaging Equipment Manufacturing industry in Europe, which has grown at a CAGR of 0.2 % between 2019 and 2024.

Has the Electromedical & Imaging Equipment Manufacturing industry in Europe grown or declined over the past 5 years?

The market size of the Electromedical & Imaging Equipment Manufacturing industry in Europe has been declining at a CAGR of 4.2 % between 2019 and 2024.

What is the forecast growth of the Electromedical & Imaging Equipment Manufacturing industry in Europe over the next 5 years?

Over the next five years, the Electromedical & Imaging Equipment Manufacturing industry in Europe is expected to grow.

What does the Electromedical & Imaging Equipment Manufacturing in Europe include?

Electrodiagnostic apparatus and equipment and X-ray apparatus and equipment are part of the Electromedical & Imaging Equipment Manufacturing industry.

Which countries have the most businesses in the Electromedical & Imaging Equipment Manufacturing industry in Europe?

The European country with the most businesses in the Electromedical & Imaging Equipment Manufacturing industry is Russia.

How competitive is the Electromedical & Imaging Equipment Manufacturing industry in Europe?

The level of competition is moderate and increasing in the Electromedical & Imaging Equipment Manufacturing industry in Europe.

Related Industries

This industry is covered in 37 countries

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Table of Contents

About this industry

Industry definition

Manufacturers in this industry make irradiation, electromedical and electrotherapeutic equipment. Among other activities, the industry includes the manufacture of medical equipment such as pacemakers and hearing aids. Products are used in the medical profession, for food irradiation and for security scanning at airports and stadiums.

Related Terms

X-RAYRADIATIONENDOSCOPERADIOTHERAPYMAGNETIC RESONANCE IMAGING (MRI)BRACHYTHERAPY

What's included in this industry?

Electrodiagnostic apparatus and equipmentX-ray apparatus and equipmentX-ray tubes and parts for X-ray equipmentHearing aidsPacemakers

Companies

Siemens Healthineers AGGE HealthCare Technologies IncCanon Medical Systems Corporation

Industry Code

ISIC 2006

266 - Manufacture of irradiation, electromedical and electrotherapeutic equipment in Europe

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Performance

Key Takeaways

The importance of electromedical and imaging equipment in the healthcare sector sustains high demand

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Revenue Highlights

Trends
  • Revenue
  • 2024 Revenue Growth
  • Revenue Volatility

Employment Highlights

Trends
  • Employees
  • Employees per Business
  • Revenue per Employee

Business Highlights

Trends
  • Businesses
  • Employees per Business
  • Revenue per Business

Profit Highlights

Trends
  • Total Profit
  • Profit Margin
  • Profit per Business

Current Performance

Charts
  • Revenue in the Electromedical & Imaging Equipment Manufacturing in Europe industry (2011 -2029)
  • Employees in the Electromedical & Imaging Equipment Manufacturing in Europe industry (2011 -2029)
  • Business in the Electromedical & Imaging Equipment Manufacturing in Europe industry (2011 -2029)
  • Profit in the Electromedical & Imaging Equipment Manufacturing in Europe industry (2011 -2029)
Analysis

What's driving current industry performance in the Electromedical & Imaging Equipment Manufacturing in Europe industry?


Outlook

Analysis

What's driving the Electromedical & Imaging Equipment Manufacturing in Europe industry outlook?


Volatility

Analysis

What influences volatility in the Electromedical & Imaging Equipment Manufacturing in Europe industry?

Charts
  • Industry Volatility vs. Revenue Growth Matrix

Life Cycle

Analysis

What determines the industry life cycle stage in the Electromedical & Imaging Equipment Manufacturing in Europe industry?

Charts
  • Industry Life Cycle Matrix

Products and Markets

Highlights

Trends
  • Largest Market
  • Product Innovation

Key Takeaways

The importance of early diagnoses drives demand for X-ray devices. While capped funding for health services limits demand, greater European health awareness has more people seeking medical support.

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Products and Services

Charts
  • Products and Services Segmentation
Analysis

How are the Electromedical & Imaging Equipment Manufacturing in Europe industry's products and services performing?

Analysis

What are innovations in the Electromedical & Imaging Equipment Manufacturing in Europe industry's products and services?


Major Markets

Charts
  • Major Market Segmentation
Analysis

What influences demand in the Electromedical & Imaging Equipment Manufacturing in Europe industry?


International Trade

Highlights

  • Largest Importer
  • Smallest Importer
  • Total Imports into Europe
  • Largest Exporter
  • Smallest Exporter
  • Total Exports into Europe
Heat maps
  • Industry Concentration of Imports by Country
  • Industry Concentration of Exports by Country
Data Tables

Value and annual change (%) included

  • Number of Imports and Exports by European Country (2024)

Geographic Breakdown

Business Locations

Heat maps
  • Share of Total Industry Revenue by Region (2024)
  • Share of Total Industry Enterprises by Region (2024)
  • Share of Total Industry Employment by Region (2024)
  • Share of Total Industry Wages by Region (2024)

Industry Geographic Breakdown

Data Tables

Values and annual change provided for 37 European countries:

  • Revenue (2024)
  • IVA (2024)
  • Enterprises (2024)
  • Employment (2024)
  • Exports (2024)
  • Imports (2024)

Competitive Forces

Highlights

Trends
  • Concentration
  • Competition
  • Barriers to Entry
  • Substitutes
  • Buyer Power
  • Supplier Power

Key Takeaways

High R&D budgets keep the bigger manufacturers on top. Europe’s largest electromedical and imaging equipment manufacturers have the resources to invest in more R&D, while smaller manufacturers usually specialise in one or two products.

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Supply Chain

Charts

Buyer and supply industries

Companies

Market Share

Charts
  • Industry Market Share by Company (2019-2024)

Companies

Data Tables

Top 9 companies by market share:

  • Market share (2024)
  • Revenue (2024)
  • Profit (2024)
  • Profit Margin (2024)

Data Tables
  • Countries of operation for Siemens Healthineers AG
  • Countries of operation for GE HealthCare Technologies Inc
  • Countries of operation for Canon Medical Systems Corporation
  • Countries of operation for Elekta AB
  • Countries of operation for Hologic Inc
  • Countries of operation for Bracco SpA
  • Countries of operation for Guerbet SA
  • Countries of operation for OSI Systems Inc
  • Countries of operation for FUJIFILM Holdings Corporation

External Environment

Highlights

Trends
  • Regulation & Policy
  • Assistance

Key Takeaways

Manufacturers must abide by the Electromagnetic Compatibility and Radiation Protection Act. Regulations limit the electromagnetic emissions of equipment and necessitate equipment evaluations. The Radiation Protection Act contains measures for radon mitigation. Large medical-technical devices need to be approved.

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External Drivers

Analysis

What demographic and macroeconomic factors impact the Electromedical & Imaging Equipment Manufacturing in Europe industry?

Financial Benchmarks

Highlights

Trends
  • Profit Margin
  • Average Wage
  • Largest Cost

Key Takeaways

Staff need high-level technical knowledge. The salaries of electrical engineers, computer scientists and mechanical engineers are high to keep pace with technological advances and the level of specialisation needed to manufacture electromedical and imaging equipment.

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Cost Structure

Charts
  • Share of Economy vs. Investment Matrix
  • Industry Cost Structure Benchmarks:
    • Marketing
    • Depreciation
    • Profit
    • Purchases
    • Wages
    • Rent
    • Utilities
    • Other
Analysis

What trends impact cost in the Electromedical & Imaging Equipment Manufacturing in Europe industry?


Key Ratios

Data tables
  • IVA/Revenue (2014-2029)
  • Imports/Demand (2014-2029)
  • Exports/Revenue (2014-2029)
  • Revenue per Employee (2014-2029)
  • Wages/Revenue (2014-2029)
  • Employees per Establishment (2014-2029)
  • Average Wage (2014-2029)

Country Benchmarks

European Leaders & Laggards

Data Tables

Top and boottom five countries listed for each:

  • Revenue Growth (2024)
  • Business Growth (2024)
  • Job Growth (2024)

European Country Performance

Data Tables

Rankings available for 37 countries. Statistics ranked include:

  • IVA/Revenue (2024)
  • Imports/Demand (2024)
  • Exports/Revenue (2024)
  • Revenue per Employee (2024)
  • Wages/Revenue (2024)
  • Employees per Establishment (2024)
  • Average Wage (2024)

Structural Comparison

Data Tables

Trends in 37 countries benchmarked against trends in Europe

  • Concentration
  • Competition
  • Barriers to Entry
  • Buyer Power
  • Supplier Power
  • Volatility
  • Capital Intensity
  • Innovation
  • Life Cycle

Key Statistics

Industry Data

Data Tables

Including values and annual change:

  • Revenue (2014-2029)
  • IVA (2014-2029)
  • Establishments (2014-2029)
  • Enterprises (2014-2029)
  • Employment (2014-2029)
  • Exports (2014-2029)
  • Imports (2014-2029)
  • Wages (2014-2029)

Methodology

Where does IBISWorld source its data?

IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights. 

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.

To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.