UK Healthcare Diagnostics Market Analysis

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  • Type: Service area
  • Published : April 2021
  • Region: Europe
  • Country: UK
  • Report ID : 2562

  • Format: PPT, PDF

UK Healthcare Diagnostic Market- Segmented by Products (MRI, Computed Tomography, Ultrasound, X-Ray, Nuclear Imaging, Fluoroscopy, and Mammography), By Application and by End Users, Recent Trends & Forecasts (2019-2028)

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Report Overview

The UK Healthcare Diagnostic market is expected to grow from USD xx million in 2019 to USD xx million by 2028, at a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period from (2019-2028).

Diagnostics market in the UK is in its growth phase due to increase in incidence of chronic diseases such as arthritis, cancer, cardiovascular diseases, neurodegenerative disorder, and diabetes. According to WHO, 75% of the total population in UK suffers from one chronic condition, while 50% with two or more conditions. Thus, high rate of such diseases increases the demand for this market.

Market Drivers

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

The geriatric population is more prone to musculoskeletal diseases and joint problems. Osteoarthritis is the most common problem for old age people of more than 65 years and is accompanied by increased mortality, and decreased quality of life. The regional rise in incidence of chronic and life-threatening diseases are the major drivers for the market.

The emergence of automated diagnostic imaging scanners and on-going R&D development in diagnostic imaging are also expected to propel the market growth. In spite of these factors driving the market, there are other factors restraining the growth of the market, such as expensive procedures and equipment, and certain side effects of diagnostic imaging procedures.

 

1. UK Healthcare Diagnostic Market Overview………………………………………….
A. Market Size
2. Market Growth Drivers ………………………………………………………………….
A. Rise in the Prevalence of Chronic Diseases
B. Growing Adoption of Advanced Technologies in Medical Imaging
3. Major Medical Diagnostics Techniques…………………………………………….
A. Immunodiagnostics
B. Clinical Chemistry
C. Molecular Diagnostics
D. Point of Care
E. Haematology
F. Others
4. Healthcare Diagnostics Market Segmentation…………………………………………
A. By Modality
I. MRI
II. Computed Tomography
III. Ultrasound
IV. X-Ray
V. Nuclear Imaging
VI. Fluoroscopy
VII. Mammography
B. By Disease Application
I. Cardiology
II. Oncology
III. Neurology
IV. Orthopaedics
V. Gastroenterology
VI. Gynecology
VII. Other Applications
C. By End user
I. Hospital
II. Diagnostics Centres
III. Others
5. Healthcare Diagnostics major product Market share…………………….…
A. Market Analysis, Insights and Forecast to 2028 by revenue
6. Competitive Landscape…………………………………………………………………
A. Major Players
B. Global Market Share Analysis
7. Key Company Profiles……………………………………………………………………
A. Carestream Health Inc- Company overview, Product & Services, Strategies & Financials
B. Siemens- Company overview, Product & Services, Strategies & Financials
C. GE Healthcare- Company, Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape…………………………………
A. Policy changes and Reimbursement scenario
9. Factors Driving Future Growth………………………………………………………
A. New Trends and Development of Healthcare Diagnostic market
B. Future Opportunities
10. Conclusion

Market Segmentation

By Modality:

The market is segmented based on modality into MRI, Computed Tomography, Ultrasound, X-Ray, Nuclear Imaging, Fluoroscopy, Mammography.

By Application:

Based on application, UK market is segmented into Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology and other applicants. Oncology is expected to show a lucrative growth in the Disease Application Type. It deals with diagnosis and treatment of tumors and cancers, which is one the leading causes of morbidity and mortality. According to the Cancer Research UK, there are more than 367,167 new cancer cases in the United Kingdom every year, which is nearly 990 every day.

Every two minutes, someone in the United Kingdom is diagnosed with cancer. Moreover, breast, prostate, lung, and bowel cancers, together, accounted for over half (53%) of all new cancer cases in the the country, in 2018. Each year, more than a third (36%) of all cancer cases, in the country, are diagnosed in people aged 75 years and over. Incidence rates for all cancers combined, in the United Kingdom, are the highest in people aged between 85 and 89 years. Thus, diagnostic imaging plays a vital role in oncology as tools, such as CT, are the highly beneficial and preferred method of imaging for many conditions.

By End User

Based on end users, UK market is segmented into Hospital, Daignostics Centres and Others. Diagnostics Centres contributes maximum percentages in UK market share.

Top Major Players:

Some of the players operating in the UK Healthcare Diagnostic market include Carestream Health Inc., Esaote SpA, Fujifilm Holdings Corporation, GE Healthcare, Hitachi, Ltd., Hologic Inc., Koninklijke Philips N.V., Shimadzu Corporation, Siemens Healthineers, Sonosite Inc.

The market players are focusing on R&D to develop the technologically advanced products to reduce the cost and side effects associated with the products. The barriers for the new entrants are high in this industry, and hence few major market players hold the maximum market share.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

  • Statistical Databases
  • Company Websites/Annual Reports
  • Trade Publications
  • Online Databases
  • Published Research Reports
  • Whitepapers
  • Press Releases of Key Market Players

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and its impact to the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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