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

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

The India Diagnostic Imaging Equipment Market is expected to register a CAGR of 12.4% during the forecast period. The propelling factors for the growth of the Indian diagnostic imaging equipment market include the rise in the prevalence of chronic diseases, increased adoption of advanced technologies in medical imaging, and the growing geriatric population.

Although India will be the youngest country in the world by 2020 with a median age of 29 years, the number of elderly people is likely to increase significantly after that, according to the 2014 State of Elderly in India report. By 2021, the elderly population will reach 143 million. The increase in life expectancy over the years has resulted in an increase in the population of the elderly. Hence, the growing geriatric population is expected to augment the demand for diagnostic imaging equipment.

Moreover, the increasing incidences of chronic diseases, such as cancer, cardiovascular disorder, gastrointestinal disorders, and various genetic mutations that require advanced imaging equipment are among the few factors that are expected to positively support the diagnostic imaging equipment market growth.

In addition, the growing expenditure in the healthcare sector, technological advancements coupled with expanded government initiatives across the globe and spending on healthcare services are some of the other growth factors for the diagnostic imaging equipment market.

Key Market TrendsX-ray Equipment is is Expected to Hold a Major Market Share in the India Diagnostic Imaging Equipment Market

X-ray imaging systems are expected to record the significant CAGR, owing to the growing demand for mobile X-ray systems, retrofit upgrade kits, growth in the number of hospitals and diagnostic centres, advances in digital technology, painless and non-invasive procedures, low prices as compared to other modalities, increase in the ageing population, and the rising incidence of injuries and diseases. As per the United Nations Population Fund 2019 survey, estimates that the number of cases of cancer in senior citizens across India in 2050 was forecasted to be about 1.3 million. Hence, owing to the above factors the segment is expected to show growth over the forecast period.

Competitive Landscape

The India Diagnostic Imaging Equipment Market is consolidated competitive. Owing to the rapid evolution of the market in the use of imaging technology, medical device companies that are able to launch new innovative equipment will be rewarded with huge benefits and forecast the growth of the diagnostic imaging equipment market. Some of the companies which are currently dominating the market are Carestream Health Inc., Fujifilm Holdings Corporation, GE Healthcare, Hitachi Medical Systems, Koninklijke Philips N.V., Shimadzu Medical, Siemens Healthcare GmBH and Esaote SpA.

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• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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