Market Insights Health Medical Technology Medical Devices

Diagnostic Imaging Devices - China

China

China's Diagnostic Imaging Devices market market is expected to achieve a revenue of €2.97bn in 2024.
The market is projected to experience a steady annual growth rate (CAGR 2024-2029) of 6.24%, leading to a market volume of €4.02bn by 2029.
When compared globally, the United States is anticipated to generate the highest revenue, amounting to €11,060.00m in 2024.
China's booming healthcare industry and increasing demand for advanced medical technology have led to significant growth in the Diagnostic Imaging Devices market.

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

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Analyst Opinion

The Diagnostic Imaging Devices market in China has been experiencing significant growth in recent years.

Customer preferences: Chinese customers have shown a strong preference for technologically advanced diagnostic imaging devices. They value accuracy, efficiency, and reliability in their medical equipment, and are willing to invest in high-quality devices that can provide accurate and timely diagnoses. Additionally, Chinese customers are increasingly seeking out devices that are user-friendly and easy to operate, as well as those that offer a wide range of imaging options to meet the diverse needs of patients.

Trends in the market: One of the key trends in the Diagnostic Imaging Devices market in China is the increasing adoption of digital imaging technology. Digital imaging devices offer numerous advantages over traditional film-based imaging, including faster image acquisition, improved image quality, and easier storage and retrieval of patient data. As a result, many healthcare facilities in China are transitioning from analog to digital imaging systems, driving the demand for digital imaging devices. Another trend in the market is the rising demand for portable and handheld diagnostic imaging devices. These devices offer greater flexibility and convenience, allowing healthcare professionals to perform imaging procedures at the patient's bedside or in remote locations. This is particularly important in China, where there is a growing need for healthcare services in rural areas and a shortage of medical professionals. Portable and handheld devices enable healthcare providers to reach more patients and provide timely diagnoses, leading to improved patient outcomes.

Local special circumstances: China has a large and aging population, which is driving the demand for diagnostic imaging devices. As the population ages, there is an increased prevalence of chronic diseases and a greater need for medical imaging to diagnose and monitor these conditions. Additionally, the Chinese government has been investing heavily in healthcare infrastructure and expanding access to healthcare services, which has further fueled the demand for diagnostic imaging devices.

Underlying macroeconomic factors: China's strong economic growth and rising disposable incomes have contributed to the growth of the Diagnostic Imaging Devices market. As more Chinese people are able to afford healthcare services, there is an increased demand for diagnostic imaging devices. Furthermore, the Chinese government has implemented policies to encourage domestic production and innovation in the healthcare sector, which has led to the development of advanced diagnostic imaging devices by local manufacturers. This has not only boosted the domestic market but also positioned China as a major player in the global diagnostic imaging devices market.

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.