Market Size of China Diagnostic Imaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 11.30 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Diagnostic Imaging Market Analysis
The China diagnostic imaging market is expected to register a CAGR of 11.3% during the forecast period(2022 - 2027). The market is expected to show healthy growth owing to the growing prevalence of chronic diseases, the growing geriatric population, and the 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 an article titled 'China's Ageing Population: The Present Situation and Prospects' published in April 2020, both quantitatively and structurally, the population of China is aging quickly. About 6.2 million persons over the age of 60 are added to the population every year. According to this definition of the elderly, 280 million people will be considered elderly in China by 2025. As the aged population is 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 most 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 the 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, to help provide better patient care at less cost, thus automating the workflow, and acting as one of the major drivers of the market.
