China Medical Imaging Market To Reach $2.7 Billion By 2030

China Medical Imaging Market Growth & Trends

The China medical imaging market size is expected to reach USD 2.7 billion by 2030, growing at a CAGR of 6.2% during the forecast period, based on a new report by Grand View Research, Inc. The growth of the market is attributed to several factors such as the increasing prevalence of chronic diseases, technological advancements to improve the turnaround time, favorable reimbursement policies, growing government funding & initiatives, rising geriatric population, and expanding healthcare infrastructure.

The growing burden of chronic diseases & rising geriatric population in China has propelled the demand for advanced medical imaging technologies, thereby boosting the market growth. For instance, according to the report published on PubMed stating ‘Cardiovascular Health and Diseases in China 2021’, the cases of patients suffering from coronary heart disease, stroke, pulmonary heart disease, heart failure, rheumatic heart disease, congenital heart disease, atrial fibrillation, and hypertension is 13 million, 11.39 million, 5.00 million, 8.90 million, 2.50 million, 2.00 million, 4.87 million, and 245 million, respectively.

The aforementioned information is suggesting the growing prevalence of cardiovascular diseases & cancer and increasing awareness about early diagnosis are expected to contribute to lucrative growth opportunities during the forecast period. Additionally, enabling early disease detection, accurate diagnosis, and effective disease management, medical imaging plays a crucial role in improving patient outcomes and enhancing the overall quality of healthcare in the context of chronic diseases. The market also benefits from a growing awareness of the importance of early disease detection and preventive healthcare.

Manufacturers in the China medical imaging industry are also contributing to its growth by expanding their product portfolios through strategic collaborations, product launches, and mergers & acquisitions. For example, in January 2023, GE Healthcare, a leading player in the industry, announced its acquisition of Caption Health, Inc., an AI healthcare provider specializing in clinical applications for early disease diagnosis using ultrasound scans. Such partnerships and advancements demonstrate the market's commitment to innovation and its focus on providing state-of-the-art solutions for early disease detection and improved patient care.

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China Medical Imaging Market Report Highlights

• Based on modality, the ultrasound segment held the largest market share of 29.06% in 2022 owing to enhanced capabilities of this type such as treating gallbladder disease and guiding a needle for biopsy or tumor treatment

• The Computed Tomography (CT) segment is expected to showcase the fastest CAGR during the forecast period

• Based on end-use, the hospital segment had the largest market share of 34.94% in 2022, owing to the rising demand for more accurate diagnostic tools

• Technological advancements are also anticipated to drive the growth of the advanced wound care market in the forthcoming years

• Some of the major market players are GE HealthCare, Siemens Healthcare GmbH, Koninklijke Philips N.V., CANON MEDICAL SYSTEMS CORPORATION, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Shanghai United Imaging Healthcare Co., LTD

China Medical Imaging Market Segmentation

Grand View Research has segmented the China medical imaging market based on modality and end-use:

China Medical Imaging Modality Outlook (Revenue, USD Million, 2018 - 2030)

• X-ray

  • Radiography

  • Fluoroscopy

  • Mammography

• Ultrasound

  • 2D

  • 3D/4D

  • Doppler

• Computed Tomography (CT)

  • High slice

  • Mid slice

  • Low slice

  • Cone beam

• Magnetic Resonance Imaging (MRI)

  • Low - strength

  • Mid - strength

  • High - strength

• Nuclear Medicine

  • SPECT

  • PET

China Medical Imaging End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Diagnostic Imaging Centers

• Others

List of Key Players in the China Medical Imaging Market

• GE HealthCare

• Siemens Healthcare GmbH

• Koninklijke Philips N.V.

• Canon Medical Systems Corporation

• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

• Shanghai United Imaging Healthcare Co., Ltd.