United Kingdom Diagnostic Imaging Equipment Market Size

United Kingdom Diagnostic Imaging Equipment Market Analysis

The United Kingdom Diagnostic Imaging Equipment Market size is estimated at USD 1.26 billion in 2024, and is expected to reach USD 1.66 billion by 2029, growing at a CAGR of 5.68% during the forecast period (2024-2029).

The COVID-19 pandemic affected the market for diagnostic imaging equipment in the United Kingdom. Several factors, such as setbacks in manufacturing the radioisotopes, contributed to the shortage of radiopharmaceuticals. For instance, in January 2022, the High Flux Reactor in the Netherlands was temporarily shut down due to a water leak in the reactor's cooling system. The disruption impacted the production of Mo-99 and Lu-177. Although production from other facilities will likely help in improving the scarcity, shortages are still expected, as per the Nuclear Medicine Europe Emergency Response Team. However, though the COVID-19 pandemic had a slightly adverse effect on the studied market during the initial period, the use of diagnostic imaging services increased during the pandemic, positively impacting the UK diagnostic imaging equipment market in the latter part of the pandemic. For instance, a research study published in the National Library of Medicine in February 2021 found that patients suspected of having COVID-19 pneumonia required routine diagnostic imaging, notably chest radiography and chest CT. Chest CTs and radiographs of the affected individuals were used to confirm that pneumonia associated with COVID-19 had occurred in those patients. As the pandemic progressed, there was a growth in the use of diagnostic tools for COVID-19 identification, which helped the market grow.

Certain factors that are driving the market growth include the prevalence of chronic diseases and the growing adoption of advanced technologies in medical imaging.

The incidence and prevalence of chronic diseases, such as cardiovascular diseases, musculoskeletal diseases, cancer, and neurological disorders are increasing rapidly in the country, which is pushing the demand for diagnostic equipment. Diagnostic imaging also plays a vital role in the diagnosis and management of cardiovascular diseases. There is a large prevalence of cardiological disorders in the nation, which is expected to boost the demand for diagnostic imaging services, thereby propelling market growth. According to the 2022 UK Factsheet published in August 2022 by the British Heart Foundation, over 7.6 million people in the United Kingdom were living with heart and circulatory diseases as of August 2022. The large population affected by cardiovascular diseases, along with the associated high annual healthcare costs, are expected to boost the growth of the studied market in the country over the forecast period.

The aging population is increasing. These older adults are more susceptible to chronic illnesses, such as musculoskeletal ailments, joint problems, cardiovascular abnormalities, and brain abnormalities. For instance, Gov.UK estimated that in July 2022, 4% of patients in England who were 65 years or above were suffering from dementia or Alzheimer's disease. Due to the increased prevalence of age-related disorders, there will likely be a greater demand for diagnostic imaging tools like magnetic resonance imaging (MRI) for detecting brain abnormalities linked to moderate cognitive impairment (MCI). This will likely lead to a growth in the market for these tools.

The market growth is also projected to be aided by the development of automated diagnostic imaging scanners, cutting-edge technology, and expanding corporate activities in the research and development of diagnostic imaging equipment. For instance, in May 2021, Fujifilm (Hitachi, Ltd.) published the results of the first real-world experiment using the FDR Xairportable X-ray system in community care. The trial was conducted in collaboration with Fujifilm (Hitachi, Ltd.) United Kingdom, Northumbria Healthcare, National Health Services (NHS) Foundation Trust, and the Northeast Ambulance Service; it resulted in a considerable decrease in hospitalizations.

However, expensive procedures and equipment are likely to restrain the market growth.