X-ray Systems Segment has the Largest Share of Product in the Asia Pacific Medical Imaging Market during 2021–2028
According to The Insight Partners market research study on “Asia Pacific Medical Imaging Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, and End User” is expected to reach US$ 8,650.0 million by 2028 from US$ 6,192.7 million in 2021. The market is estimated to grow at a CAGR of 4.9% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific Medical imaging market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the introduction of technological advanced systems and the increasing demand for early diagnosis are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the declining reimbursements.
The COVID-19 pandemic has critically impacted the region, but it has also provided an opportunity for stakeholders to realign their future path based on strategic intent and focus. Moreover, various economies have been intensively making the use of medical imaging devices to diagnose, assess, monitor, and plan the treatment of patients suffering with the COVID-19. According to the World Health Organization (WHO), Imaging has been also considered to complement clinical evaluation and laboratory parameters in the management of patients already diagnosed with COVID-19 among various countries such as India, Pakistan, Japan, and others in the region. The use of medical imaging on symptomatic patients for monitoring their treatment progress required high number of these systems to perform procedures. Thus, increasing government support and reimbursement policies for medical devices are expected to support the medical imaging market. The COVID-19 pandemic has a positive impact on the market in the countries in the region.
The market for medical imaging market is segmented into product, and end user. Based on product, the medical imaging market is segmented into CT Systems, X-ray Systems, PET Systems, MRI systems, Ultrasound Systems and Others. In 2020, the X-ray Systems segment accounted for the highest share of the market. Growth of this segment is primarily driven by the increasing use of the interventional x-ray systems including C-arms and others, for image guided surgeries. Further, the new generation of mobile X-ray units offers more advantages in terms of efficiency and cost savings than standalone X-ray systems. Wireless mobile X-ray systems offer flexibility to healthcare facilities, enabling them to share medical images between mobile systems or between fixed-room and mobile systems.
General Electric Company, Siemens AG, Koninklijke Philips N.V., Shimadzu Corporation, Hitachi, Ltd., Canon Inc., Hologic, Inc., Carestream Health Inc., ESAOTE SPA, and Samsung Group are among the leading companies in the Asia Pacific medical imaging market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in March 2021, Vscan AirTM is a cutting-edge, wireless pocket-sized ultrasound launched by GE Healthcare that offers crystal clear image quality, whole-body scanning capabilities, and intuitive software in the palm of clinicians' hands.
The market for medical imaging market is segmented into product, and end user. Based on product, the medical imaging market is segmented into CT systems, X-ray systems, PET systems, MRI systems, ultrasound systems, and others. Based on end user, the medical imaging market is segmented into hospitals, OP centers, clinician’s offices, and emergency care centers. Geographically, the medical imaging market is segmented into Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia Pacific).