China Diagnostic Imaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

China Diagnostic Imaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The China diagnostic imaging market is expected to register a CAGR of 11.3% during the forecast period(2022 - 2027). The market is expected to show healthy growth owing to the growing prevalence of chronic diseases, the growing geriatric population, and the increased adoption of advanced technologies in medical imaging.

With the rising geriatric population, the country is found witnessing a significant increase in the number of patients suffering from chronic diseases.

According to an article titled “China’s Ageing Population: The Present Situation and Prospects” published in April 2020, both quantitatively and structurally, the population of China is aging quickly. About 6.2 million persons over the age of 60 are added to the population every year. According to this definition of the elderly, 280 million people will be considered elderly in China by 2025. As the aged population is more prone to chronic diseases such as cardiovascular, cancer, respiratory and neurological diseases which will boost the market during the forecast period.

Hence it is seen that most of the elderly population are utilizing diagnostic imaging techniques, as compared to the younger people. Therefore, the growing geriatric population is expected to augment the demand for the diagnostic imaging market.

There are also many advancements made in the field that are accelerating the speed to capture high-quality diagnostic images, capturing images at the right place and right time, to help provide better patient care at less cost, thus automating the workflow, and acting as one of the major drivers of the market.

Key Market TrendsOncology Segment is Expected to Hold a Major Market Share in the China Diagnostic Imaging Market

Cancer incidence and mortality have been increasing in China for a long time, thus making it the leading cause of death in this country. As per an article titled “Comparison of cancer incidence and mortality between China and the United States” published in December 2021, in 2020, there are 4.6 million new cases in China and the Age-standardized mortality rate (ASMR) of cancer in China is 129.4 per 100,000.

Similarly, according to an article titled “Cancer statistics in China and United States, 2022: profiles, trends, and determinants” published in February 2022, it is expected that approximately 4,820,000 people are expected to have newly diagnosed with cancer, and 3,210,000 people dying from cancer in China in 2022.

Furthermore, China is attempting to address its steadily rising cancer burden. However, it faces numerous new obstacles to cancer prevention due to the rising aging of the population and the cumulative impact of risk factor exposure. Cancer profiles, trends, and factors in China and the USA could be compared to help China with its cancer preventive initiatives and policymaking.

The rising burden is also attributable to population growth and aging and socio-demographic changes. Hence the rising prevalence of various types of cancer in China and the increasing need for cost-effective diagnosis using advanced cancer imaging techniques are expected to drive the market.

Competitive Landscape

The China Diagnostic Imaging Market is moderately consolidated competitive. The market is fragmented and competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Canon Medical Systems Corporation, Carestream Health Inc., Fujifilm Holding, GE Healthcare (GE Company), Hitachi Medical Systems, and Hologic Corporation.

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• The market estimate (ME) sheet in Excel format
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