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The India Diagnostic Imaging Equipment Market has been segmented by Product Type (X-ray, MRI, Ultrasound, Computed Tomography, Nuclear Imaging, Others), and Application.
The India Diagnostic Imaging Equipment Market is expected to register a CAGR of 12.4% during the forecast period. The propelling factors for the growth of the Indian diagnostic imaging equipment market include the rise in the prevalence of chronic diseases, increased adoption of advanced technologies in medical imaging, and the growing geriatric population.
Although India will be the youngest country in the world by 2020 with a median age of 29 years, the number of elderly people is likely to increase significantly after that, according to the 2014 State of Elderly in India report. By 2021, the elderly population will reach 143 million. The increase in life expectancy over the years has resulted in an increase in the population of the elderly. Hence, the growing geriatric population is expected to augment the demand for diagnostic imaging equipment.
Moreover, the increasing incidences of chronic diseases, such as cancer, cardiovascular disorder, gastrointestinal disorders, and various genetic mutations that require advanced imaging equipment are among the few factors that are expected to positively support the diagnostic imaging equipment market growth.
In addition, the growing expenditure in the healthcare sector, technological advancements coupled with expanded government initiatives across the globe and spending on healthcare services are some of the other growth factors for the diagnostic imaging equipment market.
As per scope of the report, diagnostic medical imaging is a common technique to help visualize physical diagnosis among the clinical community. For diagnostic purposes, these systems are used to image the body to obtain a correct diagnosis and determine future care. Medical imaging is the technique or process of creating visual illustrations of the inner body for clinical examination and medical interpolation, along with the visual representation of the function of certain organs or tissues. The India Diagnostic Imaging Equipment Market is segmented by product type, application, and geography.
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X-ray imaging systems are expected to record the significant CAGR, owing to the growing demand for mobile X-ray systems, retrofit upgrade kits, growth in the number of hospitals and diagnostic centres, advances in digital technology, painless and non-invasive procedures, low prices as compared to other modalities, increase in the ageing population, and the rising incidence of injuries and diseases. As per the United Nations Population Fund 2019 survey, estimates that the number of cases of cancer in senior citizens across India in 2050 was forecasted to be about 1.3 million. Hence, owing to the above factors the segment is expected to show growth over the forecast period.
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The India Diagnostic Imaging Equipment Market is consolidated competitive. Owing to the rapid evolution of the market in the use of imaging technology, medical device companies that are able to launch new innovative equipment will be rewarded with huge benefits and forecast the growth of the diagnostic imaging equipment market. Some of the companies which are currently dominating the market are Carestream Health Inc., Fujifilm Holdings Corporation, GE Healthcare, Hitachi Medical Systems, Koninklijke Philips N.V., Shimadzu Medical, Siemens Healthcare GmBH and Esaote SpA.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 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 Increased Adoption of Advanced Technologies in Medical Imaging
4.2.3 Growing Geriatric Population
4.3 Market Restraints
4.3.1 High Cost of Diagnostic Imaging Procedures and Equipment
4.3.2 Side Effects of Diagnostic Imaging Procedures
4.4 Porter's Five Forces 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
5.1.2 Computed Tomography
5.1.5 Nuclear Imaging
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 Carestream Health Inc.
6.1.2 Fujifilm Holdings Corporation
6.1.3 GE Healthcare
6.1.4 Hitachi Medical Systems
6.1.5 Koninklijke Philips N.V.
6.1.6 Shimadzu Medical
6.1.7 Siemens Healthcare GmBH
6.1.8 Esaote SpA
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments