India Diagnostic Imaging Market to be Valued USD 22270.88 Million by FY2026
Increasing disposable income
of the consumers coupled with improved healthcare facilities to drive India
diagnostic imaging market
According
to TechSci Research report, “India
Diagnostic Imaging Market By Type (X-Ray Imaging Solutions, Ultrasound
Systems, MRI Systems, CT Scanners, Nuclear Imaging Solutions, Mammography,
Others), By Mobility (Portable v/s Standalone), By Source (Domestic Vs Import),
By Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology,
Gynecology, Others), By End Users (Hospitals & Clinics, Diagnostic Centers,
Ambulatory Care Centers, Others), By Component (OEM v/s Refurbished), By Region,
Forecast & Opportunities, FY2026”, the India diagnostic imaging market was valued USD 1655.35
Million in FY2019 and is projected to grow at 9.03% in value terms until FY2026
on account of the ongoing technical advancements in digital imaging procedures.
Additionally, increasing foreign direct investments for improving the healthcare
facilities in India is further expected to propel the market growth through
FY2026. Furthermore, emergence of India as a potential medical tourism hub is
further expected to fuel the market growth over the next few years. Besides,
growing prevalence of non-communicable diseases in the country is further
expected to spur the market growth. However, procedures such as CT Scan are
quite capital intensive. This might restrict the market growth during the
forecast period. Furthermore, shortage of radiologists and other skilled
professionals to carry out the diagnostic procedure might further impede the
market growth through FY2026. Moreover, high import tariffs might further hider
the market growth until FY2026.
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The India diagnostic imaging market is segmented based on type,
mobility, source, application, end users, component, company and region. Based
on type, the market can be fragmented into X-Ray imaging solutions, ultrasound
systems, MRI systems, CT scanners, nuclear imaging solutions, mammography and
others. Among these, the X-Ray imaging solutions segment is expected to
dominate the market on account of their widespread use and adoption across
hospitals & clinics, diagnostic centers, among others for early and
accurate diagnosis of spinal problems. Additionally, growing incidences of road accidents
across the country is further expected to drive the segmental growth.
Based on end users, the market can be categorized into hospitals & clinics,
diagnostic centers, ambulatory care centers, others. Out of these, the hospitals
& clinics segment is expected to dominate the market since they have all
the available diagnostic imaging equipment and machinery. Hence, the people
prefer visiting hospitals & clinics for diagnostic imaging.
Wipro GE Healthcare Pvt. Ltd., Siemens
Healthcare Private Limited, Allengers Medical Systems Limited, Erbis
Engineering Co. Ltd., Samsung Electronics SIEL, Philips India Ltd, Olympus
Medical Systems India Pvt. Ltd., Fujifilm Medical Systems India Pvt. Ltd.,
Carestream Health India Pvt. Ltd., Shimadzu Medical (India) Pvt. Ltd. among
others are some of the leading players operating in India diagnostic
imaging market. The companies operating in the market are using organic
strategies such as product launches, mergers and collaborations to boost their
share.
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“India
diagnostic imaging market is expected to witness significant growth during the forecast period on account of
growing number of diagnostic centers and hospitals in the country. Furthermore,
supportive government policies such as Ayushman Bharat Yojana, Healthcare for
All, Make in India, among others, are further expected to fuel the market
growth through FY2026. Besides, increasing focus of the government and
healthcare facility providers on increasing the life expectancy and reducing
mortality rates associated with different diseases is further expected to
create lucrative opportunities for the market growth over the next few years.”said
Mr. Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India Diagnostic Imaging Market By Type (X-Ray
Imaging Solutions, Ultrasound Systems, MRI Systems, CT Scanners, Nuclear
Imaging Solutions, Mammography, Others), By Mobility (Portable v/s Standalone),
By Source (Domestic Vs Import), By Application (Cardiology, Oncology,
Neurology, Orthopedics, Gastroenterology, Gynecology, Others), By End Users
(Hospitals & Clinics, Diagnostic Centers, Ambulatory Care Centers, Others),
By Component (OEM Vs Refurbished), By Region, Forecast & Opportunities, FY2026”, has
evaluated the future growth potential of India diagnostic imaging market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in India diagnostic imaging market.
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