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The China Diagnostic Imaging Market is segmented By Modality (MRI, Computed Tomography, Ultrasound, X-Ray, Nuclear Imaging, Fluoroscopy, Mammography), By Application, and By End-User.
The China diagnostic imaging market is expected to register a CAGR of 11.3% during the forecast period. The market is expected to show healthy growth owing to the growing prevalence of chronic diseases, growing geriatric population and 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 the World Population Ageing 2019 report, in China population aged above 65 years or over is expected to reach 246.98 million by 2030 from 164.48 million in 2019. As the aged population are 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 majority 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 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, in order to help provide better patient care at less cost, thus automating the workflow, and acting as one of the major drivers of the market.
As per the scope of the report, diagnostic imaging captures images of the internal structure of the human body using electromagnetic radiation for an accurate diagnosis. There are various types of medical imaging, the most common ones being CT scanners, MRI systems, etc. The China diagnostic imaging market is segmented by modality, application, end-user and geography.
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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 Chinese Journal of Oncology in 2019, stated that over the past more than ten years, the incidence rate of cancer in China has experienced a rise of about 3.9% on an annual basis, while the country’s mortality rate for cancer was 2.5% per annum.
Furthermore, according to the International Agency for Research on Cancer (IARC), in 2018 approximately 774 thousand new lung cancer cases were diagnosed in China, accounting for almost 20% of all 4.3 million new cancer cases. In addition, about 2.87 million deaths in China were caused by cancer in 2018, which has impacted the functional status, psychological well-being, and quality of life of its cancer sufferers and relatives.
The rising burden is also attributable to population growth and aging and to sociodemographic 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.
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The China Diagnostic Imaging Market is moderately consolidated competitive. The leading vendors in the market are launching advanced diagnostic imaging products. These companies have also been involved in the acquisition of related healthcare companies, in order to improve their product portfolio, geographical presence, and growth. By incorporating the acquired technologies, the companies are driving product innovation.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in the Prevalence of Chronic Diseases
4.2.2 Growing Geriatric Population
4.2.3 Increased Adoption of Advanced Technologies in Medical Imaging
4.3 Market Restraints
4.3.1 High Costs Associated With the Devices
4.3.2 Side Effects of Diagnostic Imaging Procedures
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Modality
126.96.36.199 Low and mid field MRI systems (less than 1.5 T)
188.8.131.52 High field MRI systems (1.5-3 T)
184.108.40.206 Very High, and Ultra High Field MRI Systems (3T and more)
5.1.2 Computed Tomography
220.127.116.11 Low End Scanners (~16-Slice)
18.104.22.168 Mid Range Scanners (~64-Slice)
22.214.171.124 High End Scanners (128-Slice and More)
126.96.36.199 2D Ultrasound
188.8.131.52 3D Ultrasound
184.108.40.206 Analog Systems
220.127.116.11 Digital Systems
5.1.5 Nuclear Imaging
18.104.22.168 Positron Emission Tomography (PET)
22.214.171.124 Single Photon Emission Computed Tomography (SPECT)
5.2 By Application
5.2.7 Other Applications
5.3 By End-User
5.3.2 Diagnostic Centers
5.3.3 Other End-Users
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Canon Medical Systems Corporation
6.1.2 Carestream Health Inc.
6.1.3 Fujifilm Holding
6.1.4 GE Healthcare (GE Company)
6.1.5 Hitachi Medical Systems
6.1.6 Hologic Corporation
6.1.7 Philips Healthcare
6.1.8 Shimadzu Medical
6.1.9 Siemens Healthcare
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments