Market Insights Health Medical Technology Medical Devices

Diagnostic Imaging Devices - Asia

Asia

The Diagnostic Imaging Devices market market in Asia is anticipated to witness significant growth in the coming years.
According to projections, the revenue in this market is expected to reach a staggering €11.23bn by 2024.
This growth is further expected to continue at a steady pace, with an annual growth rate (CAGR 2024-2029) of 4.98%.
By 2029, the market volume is estimated to reach an impressive €14.32bn.
When compared to the global market, it is noteworthy that the United States is anticipated to generate the highest revenue in the Diagnostic Imaging Devices market sector.
In 2024, the revenue generated the United States is projected to be approximately €10,950.00m.
This highlights the significant market potential and dominance of the United States in this particular industry.
In Japan, the demand for advanced diagnostic imaging devices in the medical technology market is driven by the country's aging population and the need for early detection and treatment of diseases.

Key regions: Germany, Japan, Netherlands, Spain, United States

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Analyst Opinion

The Diagnostic Imaging Devices market in Asia is experiencing significant growth due to several key factors. Customer preferences for advanced medical technology, increasing healthcare expenditure, and a growing elderly population are driving the demand for diagnostic imaging devices in the region. Additionally, local special circumstances such as government initiatives to improve healthcare infrastructure and the rise of medical tourism are contributing to the market's development. Customer preferences in Asia are shifting towards advanced diagnostic imaging devices that offer higher accuracy and improved patient outcomes. With a growing awareness of the benefits of early detection and diagnosis, healthcare providers and patients are increasingly opting for imaging devices that can provide detailed and precise images. This preference for advanced technology is driving the demand for diagnostic imaging devices in the region. The market is also being driven by the increasing healthcare expenditure in Asia. As countries in the region continue to develop and improve their healthcare systems, there is a greater focus on investing in medical equipment and technology. This includes the procurement of diagnostic imaging devices, which are essential for accurate diagnosis and treatment planning. The rising healthcare expenditure is fueling the demand for diagnostic imaging devices in Asia. The growing elderly population in Asia is another factor contributing to the development of the diagnostic imaging devices market. With an aging population, there is an increased need for healthcare services, including diagnostic imaging. Elderly individuals are more prone to developing chronic diseases and require regular medical screenings, which often involve the use of imaging devices. This demographic trend is driving the demand for diagnostic imaging devices in Asia. In addition to customer preferences and demographic factors, there are also local special circumstances that are influencing the development of the diagnostic imaging devices market in Asia. Many countries in the region, such as China and India, are investing heavily in healthcare infrastructure to improve access to quality healthcare services. This includes the establishment of new hospitals and medical facilities, which require the procurement of diagnostic imaging devices. Furthermore, the rise of medical tourism in Asia has also contributed to the market's growth, as patients from other countries seek medical treatment in the region, often requiring diagnostic imaging services. Underlying macroeconomic factors, such as economic growth and increasing disposable incomes, are also driving the development of the diagnostic imaging devices market in Asia. As countries in the region experience economic growth and rising incomes, there is a greater ability to invest in healthcare services and medical equipment. This includes the purchase of diagnostic imaging devices, which are essential for accurate diagnosis and treatment. Overall, the Diagnostic Imaging Devices market in Asia is developing rapidly due to customer preferences for advanced technology, increasing healthcare expenditure, a growing elderly population, local special circumstances, and underlying macroeconomic factors. These factors are driving the demand for diagnostic imaging devices in the region and are expected to continue fueling market growth in the coming years.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.