Published Date: 2020-11-30
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According to the Graphical Research new growth forecast report titled “Asia Pacific Medical Imaging Market Size By Product (X-ray Devices, {Digital [Direct Radiography Systems, Computed Radiography Systems], Analog}, Magnetic Resonance Imaging (MRI), Ultrasound, {2D Ultrasound, 3D Ultrasound}, Computed Tomography, Nuclear Imaging, Mammography)”, By End-use (Hospitals, Diagnostic Centers), Estimated To Exceed USD 8.5 Billion By 2026
Demand for minimally invasive and rapid diagnostic methods are rising in the developing economies. The growth is attributed to the complication and risk associated with the invasive methods. Invasive methods are often riskier compared to minimally invasive technique. Severe blood loss, prolonged time for recovery, and complexity involved in the invasive procedures may discourage the patients, leading to increased demand for minimally invasive methods. Also, minimally invasive surgery offers a higher accuracy rate and smaller inclusions compared to traditional open surgery. As a result, the demand is rapidly growing for minimally invasive procedures favoring the market growth.
Based on product, the Asia Pacific medical imaging market is segmented into nuclear imaging, X-ray devices, ultrasound, computed tomography, magnetic resonance imaging, and mammography. Amongst them, the computed tomography segment held more than USD 1.2 billion in 2019. CT scanners offer several advantages when compared with the other imaging techniques such as X-ray and MRI scanning and provides excellent results for imaging of bones and soft tissues. CT is becoming a method of choice for imaging, specifically among trauma patients. As, CT exams are simple, fast and enable a quick overview of possibly life-threatening tumors. Moreover, CT scan reduces the length of hospitalizations by providing high spatial resolution and good soft tissue resolution thus, enhancing the market growth.
Based on the end-use, the Asia Pacific medical imaging market is classified into hospitals, diagnostic centers and others. Amongst them, the diagnostic centers segment captured over 29% market share in 2019. The adoption of diagnostic centers is increasing significantly in Southeast Asian countries including Thailand and Malaysia, fostering the market growth. Rising demand for advanced imaging modalities in diagnostic centers for effective patient treatment coupled with availability of well-developed infrastructure and skilled healthcare professionals will further surge the business growth.
India medical imaging market is anticipated to witness around 15% market share in 2019. Improved access to healthcare facilities to patients aiding more use of imaging devices such as CT scans, as proposed by Indian Government will favor medical imaging industry growth. Several manufacturers are aiming to train and educate healthcare workers in India. For instance, GE Healthcare made an initiative in India to ensure improvement in healthcare sector. The initiative was made to educate and train healthcare workers in association with healthcare training institutes and hospitals. Hence, the abovementioned factors will boost the APAC medical imaging market growth.
Some of the leading market players functioning in the Asia Pacific market are Carestream Health Inc., Esaoate SpA, Hologic Inc., GE Healthcare, Siemens Healthineers, Konica Minolta, Inc., Koninklijke Philips N.V., Samsung Medison Co.Ltd, Fujifilm Corporation, and Canon Medical Systems Corporation. These industry players are focusing on broadening its product portfolio to maintain strong foothold in Asia Pacific market. For instance, in July 2020, Hologic launched SuperSonic MACH 40 Ultrasound system. This strategy helped the company in expanding its existing product portfolio.
Asia Pacific medical imaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:
Market, By Product, 2015 - 2026 (USD Million)
Market, By End-use, 2015 - 2026 (USD Million)
The above information is provided for the following region and countries:
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