Asia-Pacific Diagnostic Imaging Equipment Market Size

APAC Diagnostic Imaging Equipment Market Analysis

Over the next few years, the Asia-Pacific diagnostic imaging equipment market is expected to grow at a CAGR of 7.5%.

The COVID-19 epidemic caused several significant problems for the healthcare sector. Since the majority of chronic therapies were considered non-urgent during the COVID-19 pandemic, all outpatient treatments were delayed or restricted to lower the danger of viral transmission. Lung imaging, however, became a significant component of COVID-19 diagnoses with the emergence of the infection, as it assisted in determining the severity of the illness in the afflicted population. According to a study published in the Indian Journal of Radiology and Imaging in January 2021, portable chest radiography had become a popular technique for rapidly assessing the degree of lung involvement in COVID-19 pneumonia in hospitalized symptomatic patients and calculating its progression. As a result, the use of diagnostic imaging grew during COVID-19 and had a favorable influence on the market. However, currently, the market has reached its pre-pandemic nature in terms of diagnostic imaging procedures and is expected to witness strong growth in the coming years.

Factors such as an increase in the prevalence of chronic diseases, technological advancements in imaging modalities, and the growing need for early diagnostics are driving the market.

There is a growing burden of life-threatening chronic diseases in Asian countries, which is one of the leading factors responsible for the market growth in the region. For instance, a research article by the National Institute of Health published in August 2021 highlighted in their research paper that both the prevalence and incidence of heart failure (HF) increase with increasing age and that HF places a considerable burden on health systems in China. Thus, the burden of cardiovascular diseases among the target populations in the countries of the Asia-Pacific region is expected to demand the availability of diagnostic imaging products for disease diagnosis and treatment. As a result, it is expected to contribute to market growth.

Furthermore, with the technological innovation in the area, many products are expected to be launched over the forecast period, which may also positively impact market growth. For instance, in April 2022, Wipro GE Healthcare announced the release of an innovative imaging solution that was entirely developed and produced in India. In accordance with the Atma Nirbhar Bharat mission, the imaging solution, the Revolution Aspire CT (computerized tomography) scanner, was produced at the recently opened Wipro GE Medical Devices Manufacturing unit. With the release of these new imaging devices in Asian countries, the market that was looked at is expected to grow quickly over the next few years.

However, the high cost of instruments and lack of skilled radiologists have been restraining the growth of this market.