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Diagnostic Imaging Devices - India

India

The Diagnostic Imaging Devices market market in India is forecasted to achieve a significant milestone, with projected revenue of INR €0.65bn by 2024.
This demonstrates the country's growing demand for advanced medical imaging technology.
Furthermore, the market is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 6.49%, indicating a promising future.
By 2029, the market volume in India is estimated to reach INR €0.89bn, reflecting the increasing adoption of Diagnostic Imaging Devices market in the country.
In comparison to other countries, the United States is projected to generate the highest revenue in the Diagnostic Imaging Devices market market, with an impressive figure of €11,060.00m by 2024.
This highlights the dominance of the US market in terms of revenue generation.
India is experiencing a surge in the adoption of advanced diagnostic imaging devices, fueling the growth of its medical technology market.

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

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Analyst Opinion

The Diagnostic Imaging Devices market in India is experiencing significant growth due to several key factors. Customer preferences for advanced medical technology, increasing healthcare infrastructure, and favorable government initiatives are driving the demand for diagnostic imaging devices in the country. Customer preferences in India are shifting towards advanced medical technology, including diagnostic imaging devices. Patients and healthcare providers are increasingly seeking accurate and efficient diagnostic tools to improve patient outcomes. This has led to a growing demand for advanced imaging devices such as MRI scanners, CT scanners, and ultrasound machines. Trends in the market indicate a strong growth trajectory for diagnostic imaging devices in India. The market is witnessing a steady increase in the adoption of digital imaging technologies, which offer higher resolution and faster image processing. This trend is driven by the need for more accurate and detailed diagnostic information, as well as the growing availability of digital imaging systems in healthcare facilities across the country. Another trend in the market is the increasing demand for portable and handheld imaging devices. These devices offer greater flexibility and convenience, especially in remote and rural areas where access to healthcare facilities may be limited. The portability of these devices allows for on-site imaging and immediate diagnosis, leading to faster treatment and improved patient outcomes. Local special circumstances in India contribute to the growth of the diagnostic imaging devices market. The country has a large population with a high burden of disease, creating a significant demand for diagnostic services. Additionally, the government's focus on improving healthcare infrastructure and increasing access to healthcare services has led to the expansion of medical facilities, including diagnostic imaging centers, across the country. Underlying macroeconomic factors also play a role in the development of the diagnostic imaging devices market in India. The country's growing economy and rising disposable incomes have increased the affordability of advanced medical technologies. This has led to a higher demand for diagnostic imaging devices as more people are able to access and afford these services. In conclusion, the Diagnostic Imaging Devices market in India is experiencing significant growth due to customer preferences for advanced medical technology, increasing healthcare infrastructure, and favorable government initiatives. The market is witnessing a shift towards digital imaging technologies and portable devices, driven by the need for more accurate and convenient diagnostic tools. The country's large population, focus on improving healthcare infrastructure, and growing economy are also contributing to the growth of the 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.