Asia-Pacific Medical Imaging Market By Type (Services, Product), Modality (Stationary, Portable), Procedure (Computed Tomography (CT) Scan, X-Ray Imaging, Magnetic Resonance Imaging (MRI), Ultrasound, Nuclear Imaging (SPECT/PET), Others), Technology (Direct Digital Radiology, Computed Radiology), Patient Age (Adults, Pediatric), Application (Cardiology, Pelvic And Abdominal, Oncology, Mammography, Gynecology, Neurology, Urology, Musculoskeletal, Dental, Others), End Users (Hospitals, Diagnostic Centers, Imaging Centers, Specialty Clinics, Ambulatory Surgical Centers, Academic & Research Institutes, Others), Country (Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific), Market Trends and Forecast to 2027
Market Analysis and Insights: Asia-Pacific Medical Imaging Market
Medical imaging market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 11.2% in the forecast period of 2020 to 2027 and expected to reach USD 57,687.76 million by 2027. Rising minimally invasive diagnostic and therapeutic interventional procedures and increasing prevalence of chronic diseases are the factors for the market growth.
Medical imaging is a technique to capture the inner body images for the purpose of diagnosis and treatment of the disease. Medical imaging is useful technique to improve the health of people around the world, as it can help in the early diagnosis of some internal diseases; it can help in providing the right treatment for a particular disease and of diseases. May also examine what has already been diagnosed with treatment.
Increasing prevalence of chronic diseases has raised the demand of various type of advanced diagnostic medical imaging which drives the growth of medical imaging market. For instance, According to World Health Organization, it is estimated that in 2016 there were 17.9 million deaths due to the cardiovascular diseases across the world.
This Medical Imaging Market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Medical Imaging Market Scope and Market Size
Asia-Pacific medical imaging market is segmented of the basis of type, modality, procedure, technology, patient age, application, end users. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, Asia-Pacific medical imaging market is segmented into services and product. The services segment is dominating the medical imaging market due to high demand of medical imaging process such as MRI, CT scan and X-rays performed all over the world. Additionally, the improving diagnosis rate and rising occurrence will also increase the demand of medical imaging services during the upcoming years.
- On the basis of modality, Asia-Pacific medical imaging market is segmented into stationary and portable. The stationary segment is dominating in the modality due to increased acceptance and installation of stationary medical imaging devices in the hospital and diagnostic centers. However, most of the MRI and CT scan devices installed in the stationary mode are due to their prices.
- On the basis of procedure, Asia-Pacific medical imaging market is segmented into computed tomography (CT) scan, X-ray imaging, magnetic resonance imaging (MRI), ultrasound, nuclear imaging (SPECT/PET) and others. Computed tomography (CT) scan acquires highest share in the medical imaging market as CT scan procedures are moderately safer than other medical imaging techniques as in this procedure patients are not exposed to radiation, though it is a moderately low dose radiation. CT scans offer high-quality and detailed images of the body. CT scans are also used to detect tumours and evaluate lung or chest problems. Due to all these reasons, CT scan dominates in the medical imaging market.
- On the basis of technology, Asia-Pacific medical imaging market is segmented into direct digital radiology and computed radiology. The direct digital radiology acquires highest share in the medical imaging market as it directly develops workflow by producing high quality images by offering two to three times more productivity than computed radiology. Direct digital radiology offers improved output than computed radiology as it offers the images within five seconds.
- On the basis of patient age, Asia-Pacific medical imaging market is segmented into adults and paediatric. Adults are suffering from chronic diseases in a large patient pool, which dominates the market. In addition, the increasing trend of heart disease in the adult population is higher than pediatrics and the increasing medical imaging process is also accelerating the demand for medical imaging over the forecast period.
- On the basis of application, Asia-Pacific medical imaging market is segmented into cardiology, pelvic and abdominal, oncology, mammography, gynaecology, neurology, urology, musculoskeletal, dental and others. Cardiology segment holds largest share in the market as the prevalence rate of heart disease is very high in developed and developing countries and heart disease is one of the leading causes of death. According to WHO, CVD is the number 1 cause of death globally and more people die annually from CVD than any other cause. For this reason, the cardiology segment dominates the global medical imaging market.
- On the basis of end users, Asia-Pacific medical imaging market is segmented into hospitals, diagnostic centers, imaging centers, specialty clinics, ambulatory surgical centers, academic & research institutes and others. The hospitals segment holds the largest share in the market as hospitals are providing radiology services to in-house patients for various diseases. Hospitals are the primary treatment facility for any type of diagnosis and treatment and most facilities and healthcare professionals are available in the hospital. For this reason, the segment of hospitals will grow with the highest CAGR in the upcoming years.
Medical Imaging Market Country Level Analysis
The Asia-Pacific medical imaging market is analysed and market size information is provided by country by type, modality, procedure, technology, patient age, application, end users as referenced above.
The countries covered in the medical imaging market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific in the Asia-Pacific.
Asia-Pacific is growing with the highest growth rate, due to the increasing number of geriatrics and increased health care spending. Japan medical imaging market is dominating the market due to advanced healthcare infrastructure across the country. The rising number of aging population and chronic diseases in Japan has created an upsurge demand for the medical imaging services. According to OECD, in 2017, 111.49 (per 1000000 inhabitants) computed tomography (CT) scanners are available Japan.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Cases of Chronic Diseases and New Technology Penetration
Asia-Pacific medical imaging market also provides you with detailed market analysis for every country growth in medical device industry with medical imaging sales, impact of technological development in contrast agents and changes in regulatory scenarios with their support for the medical imaging market
Competitive Landscape and Medical Imaging Market Share Analysis
Asia-Pacific medical imaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, , product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Asia-Pacific medical imaging market.
The major players covered in the report are Spectrum Health, RamSoft, Inc., InHealth Group, Radiology Reports online, Siemens Healthineers AG, Sonic Healthcare, RadNet, Inc., GE Healthcare (A subsidiary of GENERAL ELECTRIC), Alliance HealthCare Services, Koninklijke Philips N.V., Hologic Inc., Shimadzu Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., CANON MEDICAL SYSTEMS CORPORATION, Carl Zeiss Ag, FUJIFILM Corporation, Hitachi, Ltd., MEDNAX Services, Inc., Carestream Health (A subsidiary of Onex Corporation), Teleradiology Solutions, UNILABS, ONRAD, Inc. among other domestic and global players. Market share data is available for North America, Europe, Asia-Pacific, Middle East and Africa and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many joint ventures and developments are also initiated by the companies worldwide which are also accelerating the Asia-Pacific medical imaging market.
- In August 2019, Hologic Hub Ltd, a subsidiary of Hologic, Inc. declared that it has acquired 46% shares of Supersonic Imagine. Supersonic is a medical technology company focusing in ultrasound imaging. With this acquisition, the company improved its standing in the market.
- In January 2019, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. declared that they have launched TE7 ACE point-of-care solution. This instrument is used to increase diagnostic confidence. With this launch the company has expanded its product portfolio.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for medical imaging through technological advancements.
Customization Available : Asia-Pacific Medical Imaging Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.