Global asia pacific diagnostic imaging market - 2024-2031

Global asia pacific diagnostic imaging market - 2024-2031

Asia Pacific diagnostic imaging market reached US$YY million in 2023 and is expected to reach US$YY million by 2031, growing at a CAGR ofYY% during the forecast period 2024-2031.

Diagnostic imaging is a medical specialty wherein clinicians rebuild images of different body parts for diagnostic and therapeutic reasons. Clinicians may use non-invasive diagnostic imaging technologies to identify injuries and illnesses without becoming intrusive.

The rising prevalence of chronic diseases, such as cardiovascular and neurologic issues, along with the restructuring of healthcare systems, has resulted in a greater focus on early detection.

Market Dynamics: Drivers & Restraints

Increasing technological advancements

Technological breakthroughs in diagnostic imaging models, as well as increasing investment, financing, and subsidies from public and commercial organizations, produced a need for diagnostic imaging methods in this area are the driving factors of the market growth.

For instance, in May 2022, Chinese researchers successfully developed a superconducting magnet for the world-leading magnetic resonance imaging (MRI) system, making China the first Asian country to possess the technology.

Additionally, in February 2024, Butterfly Network unveiled the iQ3TM handheld ultrasound that has a combination of enhanced image processing, artificial intelligence (AI) tools and improved 3D imaging,

High cost of the equipment

The cost of buying and maintaining diagnostic imaging equipment, such as MRI machines, CT scanners, and PET scanners, is very high. For smaller healthcare facilities, this presents a major obstacle, and it may also restrict access to this technology in underdeveloped nations.

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Segment Analysis

The Asia Pacific diagnostic imaging market is segmented based on type, application, and end user.

MRI segment is expected to dominate the market growth

MRI diagnostic imaging is anticipated to hold a major position in the market share. This is expected due to the increasing number of products of MRI systems for diagnosis.

For example, Canon Medical unveiled the Vantage Fortain MRI System at ECR 2022 in July 2022. Concurrently aiding in reducing MRI imaging time are innovative workflow solutions, image enhancements, and high-rate scan technology incorporated into this system.

Additionally, in August 2023, Voxelgrids, an India-based company launched an advanced and affordable MRI scanner with the potential to revolutionize healthcare accessibility not only in India but also worldwide. Thus, the above factors are expected to hold the segment in the dominant position during the forecast period.

COVID-19 Impact Analysis

COVID-19 has affected the market growth negatively. Delays or avoidance of elective procedures and normal checks were caused by lockdowns and social distancing measures. Consequently, there was a notable decrease in the number of elective MRIs that use diagnostic imaging modalities, such as mammograms and colonoscopies. Delays and cancellations of non-emergency diagnostic imaging operations resulted from hospitals prioritizing the treatment of COVID-19 patients with limited resources.

Market Segmentation

By Type
• X-Ray
• MRI
• Nuclear Medicine
• SPECT Imaging
• Ultrasound
• Tomography
• Tactile Imaging
• Functional Infrared Spectroscopy

By Application
• Orthopedic
• Neurology
• Oncology
• Cardiology
• Others

By End User
• Hospitals
• Diagnostics
• Imaging Centers
• Others

Competitive Landscape

The major players in the market include GE HealthCare, Siemens Healthcare Private Limited, Toshiba Medical Systems Corporation, CANON MEDICAL SYSTEMS CORPORATION, FUJIFILM Corporation, Shimadzu Corporation., Elekta AB, Esaote SPA, Mindray Medical International Limited, Narang Medical among others.

Why Purchase the Report?
• To visualize the Asia Pacific diagnostic imaging market segmentation based on type, application, and end user as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of diagnostic imaging market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The Asia Pacific diagnostic imaging market report would provide approximately 53 tables, 47 figures and 176 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies