The size of the Diagnostic Imaging Market in the Asia Pacific was worth USD 8.48 billion in 2022 and is estimated to be growing at a CAGR of 6.90% to reach USD 11.83 billion by 2027.
The rapid growth in the elderly population and concomitant increase in the prevalence of related disorders increased demand for early diagnosis and expanded clinical applications in the Asia Pacific. The technological advances in diagnostic imaging models and increased investment, funding, and subsidies from public and private organizations created the need for techniques like diagnostic imaging in this region. The Asia-Pacific Digital Imaging Market is one of the major markets for global diagnostic imaging. China, Japan, and India are some of the significant areas contributing to overall growth. The Asia-Pacific region is proven through medical research activities in the global healthcare sector. Advances in healthcare infrastructure have facilitated the timely diagnosis and availability of scanners in all areas. The government is providing additional support through Medicaid and policies that have co-promoted the growth of the diagnostic imaging market in the Asia-Pacific region.
Asia Pacific Diagnostic Imaging Market to likely to capture immense growth opportunities in emerging countries with the adoption of the latest technologies like Artificial Intelligence, analytics, and Blockchain for diagnostics. The Asia-Pacific diagnostic imaging market is increasingly adopting contract-based radiology and mobile solutions and teleradiology, which is projected to drive the business demand in the future.
The high cost of diagnostic systems, technical limitations associated with stand-alone systems, reduced reimbursement and increased regulatory burden, and lack of helium supply are expected to limit APAC Diagnostic Imaging Market growth to some extent. The barriers for APAC Diagnostic Imaging Market are the major market players that hold the maximum market share, making it difficult for new entrants in this business.
Asia-Pacific diagnostic imaging market faces a significant challenge in the form of the hospital budget. Refurbished diagnostic imaging system and increased hiring of trained professionals and the focus on Research and Development to develop the technologically advanced products to reduce the cost and side effects associated with the products
This research report on the APAC Diagnostic Imaging Market has been segmented and sub-segmented into the following categories:
Regionally, the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period due to the rising aging population, increasing medical tourism in APAC countries, and favorable administrative policies to modernize healthcare infrastructure.
China and Japan are leading the diagnostic imaging market of the APAC region. The growth of these two countries owes to growing healthcare expenditure and the development of advanced technology. Also, the Chinese diagnostic imaging market is expected to witness a healthy growth rate due to the continuous enlargement of healthcare infrastructure facilities. Furthermore, countries like India, Australia, and Singapore have a quick growth rate that owes to common infectious diseases. The requirement for effective diagnosis and treatment of other diseases is likely to fuel the diagnostic imaging market over the foreseen period. In addition, governments are also organizing programs to detect early diagnosis of chronic diseases to fight these devices during the forecast period.
KEY MARKET PLAYERS:
A few of the notable companies operating in the APAC Diagnostic Imaging Market profiled in this report are GE Healthcare, Siemens Healthcare, Toshiba Medical Systems Corporation, Hitachi Medical Corporation, Hologic Inc., Fujifilm Corporation & Shimadzu Corporation.
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