The China diagnostic imaging market is expected to register a CAGR of 11.3% during the forecast period. The market is expected to show healthy growth owing to the growing prevalence of chronic diseases, growing geriatric population and increased adoption of advanced technologies in medical imaging.
With the rising geriatric population, the country is found witnessing a significant increase in the number of patients suffering from chronic diseases. According to the World Population Ageing 2019 report, in China population aged above 65 years or over is expected to reach 246.98 million by 2030 from 164.48 million in 2019. As the aged population are more prone to chronic diseases such as cardiovascular, cancer, respiratory and neurological diseases which will boost the market during the forecast period.
Hence it is seen that majority of the elderly population are utilizing diagnostic imaging techniques, as compared to the younger people. Therefore the growing geriatric population is expected to augment the demand for diagnostic imaging market.
There are also many advancements made in the field that are accelerating the speed to capture high-quality diagnostic images, capturing images at the right place and right time, in order to help provide better patient care at less cost, thus automating the workflow, and acting as one of the major drivers of the market.
Key Market Trends
Oncology Segment is Expected to Hold a Major Market Share in the China Diagnostic Imaging Market
Cancer incidence and mortality have been increasing in China for a long time, thus making it the leading cause of death in this country. As per Chinese Journal of Oncology in 2019, stated that over the past more than ten years, the incidence rate of cancer in China has experienced a rise of about 3.9% on an annual basis, while the country’s mortality rate for cancer was 2.5% per annum.
Furthermore, according to the International Agency for Research on Cancer (IARC), in 2018 approximately 774 thousand new lung cancer cases were diagnosed in China, accounting for almost 20% of all 4.3 million new cancer cases. In addition, about 2.87 million deaths in China were caused by cancer in 2018, which has impacted the functional status, psychological well-being, and quality of life of its cancer sufferers and relatives.
The rising burden is also attributable to population growth and aging and to sociodemographic changes. Hence the rising prevalence of various types of cancer in China and the increasing need for cost-effective diagnosis using advanced cancer imaging techniques are expected to drive the market.
Competitive Landscape
The China Diagnostic Imaging Market is moderately consolidated competitive. The leading vendors in the market are launching advanced diagnostic imaging products. These companies have also been involved in the acquisition of related healthcare companies, in order to improve their product portfolio, geographical presence, and growth. By incorporating the acquired technologies, the companies are driving product innovation.
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With the rising geriatric population, the country is found witnessing a significant increase in the number of patients suffering from chronic diseases. According to the World Population Ageing 2019 report, in China population aged above 65 years or over is expected to reach 246.98 million by 2030 from 164.48 million in 2019. As the aged population are more prone to chronic diseases such as cardiovascular, cancer, respiratory and neurological diseases which will boost the market during the forecast period.
Hence it is seen that majority of the elderly population are utilizing diagnostic imaging techniques, as compared to the younger people. Therefore the growing geriatric population is expected to augment the demand for diagnostic imaging market.
There are also many advancements made in the field that are accelerating the speed to capture high-quality diagnostic images, capturing images at the right place and right time, in order to help provide better patient care at less cost, thus automating the workflow, and acting as one of the major drivers of the market.
Key Market Trends
Oncology Segment is Expected to Hold a Major Market Share in the China Diagnostic Imaging Market
Cancer incidence and mortality have been increasing in China for a long time, thus making it the leading cause of death in this country. As per Chinese Journal of Oncology in 2019, stated that over the past more than ten years, the incidence rate of cancer in China has experienced a rise of about 3.9% on an annual basis, while the country’s mortality rate for cancer was 2.5% per annum.
Furthermore, according to the International Agency for Research on Cancer (IARC), in 2018 approximately 774 thousand new lung cancer cases were diagnosed in China, accounting for almost 20% of all 4.3 million new cancer cases. In addition, about 2.87 million deaths in China were caused by cancer in 2018, which has impacted the functional status, psychological well-being, and quality of life of its cancer sufferers and relatives.
The rising burden is also attributable to population growth and aging and to sociodemographic changes. Hence the rising prevalence of various types of cancer in China and the increasing need for cost-effective diagnosis using advanced cancer imaging techniques are expected to drive the market.
Competitive Landscape
The China Diagnostic Imaging Market is moderately consolidated competitive. The leading vendors in the market are launching advanced diagnostic imaging products. These companies have also been involved in the acquisition of related healthcare companies, in order to improve their product portfolio, geographical presence, and growth. By incorporating the acquired technologies, the companies are driving product innovation.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Canon Medical Systems Corporation
- Carestream Health Inc.
- Fujifilm Holding
- GE Healthcare (GE Company)
- Hitachi Medical Systems
- Hologic Corporation
- Philips Healthcare
- Shimadzu Medical
- Siemens Healthcare
Methodology
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