Report : Asia Pacific Diagnostic Imaging Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Modality [X-ray, Computed Tomography, Endoscopy, Ultrasound, Magnetic Resonance Imaging (MRI), Nuclear Imaging, Mammography, and Other], Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Obstetrics/Gynecology, and Others), and End User (Hospital & Clinics, Diagnostic Imaging Centers, Ambulatory Surgical Centers, and Others)
At 6.8% CAGR, the Asia Pacific Diagnostic Imaging Market is speculated to be worth US$ 11,572.58 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific diagnostic imaging market was valued at US$ 7,818.99 million in 2021 and is expected to reach US$ 11,572.58 million by 2028, registering an annual growth rate of 5.4% from 2021 to 2028. Raising government initiatives for diagnostic imaging services reach and sanctioning funds and grants and raising use of artificial intelligence (AI) and analytics in diagnostic imaging equipment.
The WHO collaborates with partners and manufacturers to develop effective solutions targeting to improve diagnostic services in remote locations. Additionally, the WHO and its partners provide training programs on the use and management of diagnostic imaging, focusing on patient safety. Additionally, governments play a vital role in purchasing, pricing, and distributing medical devices. Moreover, governments undertake various initiatives for developing healthcare infrastructure, focusing on offering safe and cost-effective medical products through funding and assistance in opening new healthcare facilities. Such factors mentioned above are responsible for offering lucrative opportunities for accelerating the growth of the diagnostic imaging market.
On the contrary, shortage of skilled healthcare professionals and high costs related to diagnostic imaging equipment.
Based on modality, the Asia Pacific diagnostic imaging market is segmented into X-ray, computed tomography, endoscopy, ultrasound, magnetic resonance imaging (MRI), nuclear imaging, mammography, and others. The computed tomography segment held 21.6% market share in 2021, amassing US$ 2,416.89 million. It is projected to garner US$ 3,602.29 million by 2028 to expand at 6.9% CAGR during 2021–2028.
Based on application, the Asia Pacific diagnostic imaging market is segmented into cardiology, oncology, neurology, orthopedics, gastroenterology, obstetrics/gynecology, and others. The cardiology segment held 27.8% market share in 2021, amassing US$ 2,173.85 million. It is projected to garner US$ 3,304.83 million by 2028 to expand at 7.2% CAGR during 2021–2028.
Based on end user, the Asia Pacific diagnostic imaging market is categorized into hospitals and clinics, diagnostic imaging centers, ambulatory surgical centers (ASCs), and others. The hospitals and clinics segment held 27.8% market share in 2021, amassing US$ 3,462.92 million. It is projected to garner US$ 5,179.10 million by 2028 to expand at 6.9% CAGR during 2021–2028.
Based on country, the Asia Pacific diagnostic imaging market has been segmented into China, Japan, India, South Korea, Australia and Rest of APAC. Our regional analysis states that China captured 36.1% market share in 2021. It was assessed at US$ 2,825.29 million in 2021 and is likely to hit US$ 4,375.25 million by 2028, exhibiting a CAGR of 7.6% during the forecast period.
Key players dominating the Asia Pacific diagnostic imaging market are General Electric Company; Siemens Healthineers; Koninklijke Philips N.V.; KARL STORZ SE & Co. KG; FUJIFILM Holdings Corporation; Canon Inc.; Hologic, Inc.; Carestream Health Inc.; Stryker Corporation; and Olympus Corporation among others.
- In March 2022, Fujifilm India Pvt Ltd unveiled a new range of products at the 74th National Annual Conference of IRIA 2022. The latest portfolio includes a plethora of products offering complete and integrated solutions for diagnostic purposes, including CT, MRI, X-ray, AI, PACS, endoscopy, and ultrasound systems.
- In April 2021, Siemens Healthineers AG announced that it had completed the acquisition of Varian Medical Systems, Inc. ("Varian"). The acquisition was previously announced on August 2, 2020.
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