Asia Pacific Diagnostic Imaging Market to grow at a CAGR of 6.90% during 2016 to 2021

The Asia-Pacific Diagnostic Imaging Market was worth $6.98 billion in 2016 and estimated to be growing at a CAGR of 6.90%, to reach $9.74 billion by 2021. Medical imaging is the method of making a visual image of the inside of the body for medical intervention. These devices aid in creating a databank of normal anatomy and physiology of internal organs so that any irregularity can be observed immediately.

The capability to generate pictures of a patient’s internal anatomy and alter them to film through diagnostic imaging has transformed the way many diseases and injuries are spotted, diagnosed, and treated. This market has applications in several medical arenas like cardiology, neurology, and orthopaedics.

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The growth of the Asia-Pacific Diagnostic Imaging market is mainly due to the rise in aging population, increasing prevalence of cancer and cardiac, neurological, and musculoskeletal disorders, and rising number of diagnostic imaging techniques. However, poor accessibility of proper care, volatile economies and lack of awareness in this part of the world are the key factors hindering the growth of the market in this region.

The Asia-Pacific Diagnostic Imaging market is segmented based on Type and Application. The market for Diagnostic Imaging, on the basis of type is segmented into X-Rays, Nuclear Medicine, Ultrasound, MRI, Tomography, Photoacoustic Imaging, Thermography, Tactile Imaging, Elastography, Functional near infrared spectroscopy, Echocardiography. Each modality is further separated into sub segments. The X-ray and ultrasound systems market is segmented on the basis of technology and portability respectively. The nuclear imaging systems market is characterised into Scintigraphy, PET Imaging, and SPECT Imaging. On the basis of Application, the Diagnostic Imaging market is segmented into Cardiology, Oncology, Neurology, Orthopaedics, Gastroenterology, Gynaecology, and Others. Tomography is a widely used method as it increases the chances of cancer discovery and decreases the cases of the patient being called for further tests. 3D imaging is anticipated to grow in all markets during the forecast period.

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The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. China leads the Diagnostic Imaging market in this region. The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period due to reasons such as rising aging population, increasing medical tourism in APAC countries, and favourable administrative policies for the modernization of healthcare infrastructure.

The major companies dominating the market in this region are GE Healthcare, Siemens Healthcare, Toshiba Medical Systems Corporation, Hitachi Medical Corporation, Hologic Inc., Fujifilm Corporation, and Shimadzu Corporation.

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