India Diagnostic Imaging Equipment Market Outlook 2031
The India Diagnostic Imaging Equipment Market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 10.3% during 2023–2031. The growth of the market is attributed to the increasing elderly population and rising investment in the healthcare infrastructure.
Diagnostic medical imaging is a technique that visualize physical diagnosis with help of electromagnetic radiation. This imaging equipment is used for the diagnosis of disease and to determine appropriate treatment decisions. Diagnostic imaging is useful for the clinical examination and medical implant, and the visual representation of the function of organs or tissues in the human body.
Diagnostic imaging consists of different radiological imaging equipment, such as MRI, X-ray, ultrasound, and CT scan portable systems. Multiple-use units such as digital fluoroscopy and radiography systems are also used in the hospitals and clinics.
CT scan and MRI systems are the most commonly used diagnostic imaging equipment. These equipment are used for the detection of the medical conditions by reducing the unnecessary invasive exploratory processes and to improvise patient health diagnostic imaging equipment. Diagnostic imaging also includes calculations and recording techniques to produce data that is often represented in graph form.
India Diagnostic Imaging Equipment Market Trends, Drivers, Restraints, and Opportunities
- Increasing incidence of chronic diseases, such as cancer, cardiovascular disorders, gastrointestinal disorders, and various genetic mutations that require advanced imaging equipment are major factors that are propelling the diagnostic imaging equipment market growth during the forecast period.
- Growing expenditure in the healthcare sector is projected to push the market expansion in the coming years.
- Rising government initiatives to improve the healthcare services is expected to spur the market growth.
- The COVID-19 outbreak has increased the awareness of body screening across the globe. This, in turn, has positively influenced the market growth.
- High costs of the diagnostic imaging equipment are anticipated to hamper the market growth during the forecast period.
- Lack of trained people can restrict the market expansion in the coming years.
- Increasing adoption of latest technologies in diagnostic imaging equipment is estimated to create opportunities for the market players in the projected timeline.
Scope of The India Diagnostic Imaging Equipment Market Report
The report on the India 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.
Diagnostic Imaging Equipment Market - India Industry Analysis, Growth, Share, Size, Trends, and Forecast
Modalities (MRI, Computed Tomography, Ultrasound, X-ray, Nuclear Imaging, and Others), Applications (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, and Others), and End-users (Hospitals, Diagnostic Centers, and Others)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Carestream Health Inc, Fujifilm Holdings Corporation, GE Healthcare, Hitachi Medical Systems, and Koninklijke Philips N.V.
India Diagnostic Imaging Equipment Market Segment Insights
X-ray segment to account a large market share
Based on modalities, the market is segmented into MRI, computed tomography, ultrasound, X-Ray, nuclear imaging, and others. The X-ray segment is expected to represent a key market share during the forecast period owing to increasing demand for mobile X-ray systems, retrofit upgrade kits.
Moreover, increasing number of hospitals & diagnostic centers, painless & non-invasive procedures, and low-prices as compared to other modalities are driving the segment growth.
Orthopedics segment to register a robust CAGR
In terms of applications, the market is divided into cardiology, oncology, neurology, orthopedics, gastroenterology, gynecology, and others. The orthopedics segment is expected to grow at a robust pace in the coming years due to the increasing number of road accidents in the country.
Hospitals segment to expand at a substantial CAGR
On the basis of end-users, the market is segregated into hospitals, diagnostic centers, and others. The hospitals segment is anticipated to expand at a healthy CAGR during the forecast period. Hospitals usually have all the available diagnostic imaging equipment and machinery. Thus, the people prefer visiting hospitals & clinics for diagnostic imaging.
The India diagnostic imaging equipment market has been segmented on the basis of
- Computed Tomography
- Nuclear Imaging
- Diagnostic Centers
Key players competing in the India diagnostic imaging equipment market include Carestream Health Inc, Fujifilm Holdings Corporation, GE Healthcare, Hitachi Medical Systems, and Koninklijke Philips N.V.
Companies are partnering with hospitals and clinics to expand their market share. Moreover, they’re engaging in R&D activities to leverage their market position.