India Medical Imaging Market Size & Outlook, 2023-2030
India medical imaging market, 2018-2030 (US$M)
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India medical imaging market highlights
- The India medical imaging market generated a revenue of USD 1,177.9 million in 2023 and is expected to reach USD 1,734.4 million by 2030.
- The India market is expected to grow at a CAGR of 5.7% from 2024 to 2030.
- In terms of segment, ultrasound was the largest revenue generating technology in 2023.
- Computed Tomography is the most lucrative technology segment registering the fastest growth during the forecast period.
Medical imaging market data book summary
| Market revenue in 2023 | USD 1,177.9 million |
| Market revenue in 2030 | USD 1,734.4 million |
| Growth rate | 5.7% (CAGR from 2023 to 2030) |
| Largest segment | Ultrasound |
| Fastest growing segment | Computed Tomography |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | X-ray, Magnetic Resonance Imaging, Ultrasound, Computed Tomography, Nuclear Imaging |
| Key market players worldwide | GE Aerospace, Koninklijke Philips NV, Siemens Healthineers AG ADR, Canon Inc, Mindray Medical International, FUJIFILM Holdings Corp, Carestream Health - HCIS business, Hitachi Ltd, Samsung Electronics Co Ltd, Koning, PerkinElmer, Konica Minolta Inc, Esaote, Hologic Inc, Varex Imaging Corp |
Other key industry trends
- In terms of revenue, India accounted for 3.0% of the global medical imaging market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China medical imaging market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,401.9 million by 2030.
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Medical Imaging Market Scope
Medical Imaging Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
India medical imaging market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to medical imaging market will help companies and investors design strategic landscapes.
Ultrasound was the largest segment with a revenue share of 29.31% in 2023. Horizon Databook has segmented the India medical imaging market based on x-ray, magnetic resonance imaging, ultrasound, computed tomography, nuclear imaging covering the revenue growth of each sub-segment from 2018 to 2030.
The increasing birth rates, growing awareness about prenatal care, and economic reform activities are expected to drive the country’s medical imaging market. According to data released by UNICEF in 2020, out of 400,000 babies born on New Year’s Day, around 70,000 babies were from India. India recorded the highest number of babies born on New Year’s Day worldwide.
This signifies the demand for maternity services in India. During the period of pregnancy, an average of two to three ultrasound scans are recommended to monitor the health of the fetus. Thus, the increasing birth rate in India is anticipated to boost the adoption of medical imaging devices.
Furthermore, many manufacturers are investing and expanding their businesses in this region, boosting the regional market growth. In May 2022, Philips announced the expansion of its Manufacturing and Research and Development Facility in Maharashtra, India, the unit houses the MR radio frequency coil, mobile surgery systems, and ultrasound assembly businesses, among others.
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Horizon Databook provides a detailed overview of country-level data and insights on the India medical imaging market , including forecasts for subscribers. This country databook contains high-level insights into India medical imaging market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India medical imaging market size, by technology, 2018-2030 (US$M)
India Medical Imaging Market Outlook Share, 2023 & 2030 (US$M)
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