' latest market research report titled Medical Imaging Market in India 2017
states that the market for medical imaging devices in India will witness strong growth in the next five years. Medical imaging can be classified into five broad segments, namely, Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Nuclear Imaging, Ultrasound and X-Ray. MRI accounts for the highest share followed by Ultrasound, CT, X-Ray and Nuclear Imaging. While CT, MRI, ultrasound and X-ray have managed to create a strong installed base in the country, Nuclear Imaging is still relatively less penetrated but expected to exhibit strong growth on account of increased adoption.
There has been an increase in demand for diagnostic imaging equipment from hospitals and nursing homes, primarily due to the continuous increase in the number of medical centers in the country. There has also been an increase in health insurances and per capita disposable income. Moreover, government sponsored insurance schemes have contributed to a significant increase in health coverage of the population. Medical tourism is also gaining popularity with an estimated 150,000 people travelling to India annually for medical facilities. Moreover, due to increase in the awareness among patients, the trust on medical imaging has increased with test results becoming more accurate.
However, considerably high price of medical imaging equipment is a hindrance in the growth of the industry. Doctors often lack the required knowledge to use these technologically-intensive equipment and interpret the results derived from them. There have also been irregularities in currency fluctuation because of which importers cannot pass on the increase in price to the customers as it can make them uncompetitive in this market. Despite these challenges, the market is expected to grow and exhibit a strong CAGR.
Overview of the medical imaging market in India
and present and forecasted market size data in terms of value over 2014 to 2020
Overview of the various medical imaging segments in India
and their market size data in terms of value and volume over 2014 to 2020
Qualitative analysis of the major drivers and challenges affecting the market
Trade analysis of various medical imaging equipment
Analysis of the competitive landscape and profiles of major public and private players
Key recent developments associated with the medical imaging market and its adoption in India
Get a broad understanding of the medical imaging market in India
, the dynamics of the market and current state of the sector
Strategize marketing, market-entry, market expansion and other business plans by understanding the factors driving the growth of the market
Be informed regarding the key developments in the medical imaging market in India and the prime opportunity areas
Understand major competitors' business and market dynamics, and respond accordingly