China Diagnostic Imaging Equipment Market - Growth, Trends & Forecast (2020 - 2025)

The China Diagnostic Imaging Equipment market studied was anticipated to grow with a CAGR of 9.3%, during the forecast period. The major factors augmenting the growth of the diagnostic imaging market include the rise in the prevalence of chronic diseases, increased adoption of advanced technologies in medical imaging, and rise in the geriatric population. The increase in the aging population and changes in societal behavior are contributing to a steady increase in the market. Most of the deaths by chronic diseases are attributable to cardiovascular diseases, obesity, and diabetes. The other factors helping the growth of the respiratory devices market are the increasing technological advancement in the country and growing funding from the government for the health sector is also fueling the market growth during the forecast period.

Key Market Trends

Oncology Segment is Expected to Holds the Largest Share in the China Diagnostic Imaging Equipment Market

Oncology deals with diagnosis and treatment of tumors and cancers, which is one the leading causes of morbidity and mortality. Among both sexes, lung, breast, and colorectal cancers are among the most common cancers in the world with lung cancer alone contributing to more than 13% of the total cases diagnosed. As per the GLOBOCAN in China, the total number of 4,285,033 new cancer cases was reported in 2018. The incidence of cancer is growing year by year in the country making it the most lucrative market. These factors are expected to contribute to the growth of the market during the forecast period.

Competitive Landscape

The China Diagnostic Imaging Equipment market is competitive and consists of several players. In terms of market share, few of the major players are currently dominating the market and some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions in the country. Some of the companies which are currently domianting the market are FUJIFILM Holdings Corporation, Hitachi Medical Systems, Siemens Healthineers, Koninklijke Philips N.V., and GE Healthcare.

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