India Diagnostic Imaging Equipment Market Size (2024 - 2029)

The India diagnostic imaging equipment market is anticipated to experience significant growth, driven by factors such as the increasing prevalence of chronic diseases, the adoption of advanced medical imaging technologies, and a rising geriatric population. The COVID-19 pandemic has further influenced the market, particularly boosting the demand for computed tomography scanners due to their critical role in diagnosing and managing the virus. Government initiatives and the resumption of diagnostic procedures and manufacturing activities are also contributing to the market's expansion. However, challenges such as the high cost of procedures and potential side effects may hinder growth.

Market Size of India Diagnostic Imaging Equipment Industry

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India Diagnostic Imaging Equipment Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 1.49 Billion
Market Size (2029) USD 2.44 Billion
CAGR (2024 - 2029) 10.30 %
Market Concentration Low

Major Players

India Diagnostic Imaging Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order

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India Diagnostic Imaging Equipment Market Analysis

The India Diagnostic Imaging Equipment Market size is estimated at USD 1.49 billion in 2024, and is expected to reach USD 2.44 billion by 2029, growing at a CAGR of 10.30% during the forecast period (2024-2029).

The COVID-19 outbreak is an unprecedented health concern and has significantly impacted the Indian diagnostic imaging equipment market. The increasing number of COVID-19 cases has increased the demand for computed tomography (CT) scanners in various cities in India which has positively impacted the demand for diagnostic imaging equipment in the country. Computed tomography of the chest plays an important role in the diagnosis and management of COVID-19. According to a study published in the Indian Journal of Medical Research in February 2021, CT chest has indicated in COVID-19-positive patients with associated co-morbidities such as cardiovascular disease, hypertension, diabetes, obesity, chronic respiratory disease, immune compromise, etc. Moreover, CT chest plays a crucial role in ruling out lung fibrosis in patients recovering from COVID-19 infection. CT chest is an indispensable diagnostic tool in COVID-19 was positively impacted the market growth. However, currently, the market is growing at a stable pace owing to a resumption of diagnosis procedures, manufacturing activities, and availability of products, and it is expected to witness a similar trend over the coming years.

The propelling factors for the growth of the Indian diagnostic imaging equipment market include the rise in the prevalence of chronic diseases, increased adoption of advanced technologies in medical imaging, and the growing geriatric population. According to the International Diabetes Federation report published in 2021, the estimated number of diabetes patients in 2021 was 74,194.7, and the number is expected to reach 92,973.7 by 2030. Additionally, as per the data in the Longitudinal Ageing Study in India (LASI), released by the Union Ministry of Family and Health Welfare on January 6, 2021, the incidence of cardiovascular diseases in the elderly is increasing, ranging from 60% in Goa, 57% in Kerala, 55% in Chandigarh, and 51% in Jammu and Kashmir. Thus, the growing prevalence of chronic diseases is expected to rise in demand for effective diagnostics equipment, thereby boosting the growth of the market over the forecast period.

Additionally, various government initiatives are expected to boost the market in the country. For instance, in November 2021, A sophisticated MRI facility was launched at the National Brain Research Centre (NBRC), Manesar, in Haryana, India. The National Brain Research Centre (NBRC) is India's premier institute dedicated to Neuroscience Research and Education, and MRI Scanner PRISMA 3T MRI from Siemens was installed at the facility. Additionally, in April 2021, Hindustan Aeronautics Limited (HAL) donated a 32 Slice Computed Tomography (CT) scan machine to Shri Atal Bihari Vajpayee Medical College & Research Institute (SABVMC&RI), Bengaluru, as part of its sustained corporate social responsibility activities.

Thus, all aforementioned factors, such as the growing burden of chronic diseases, are expected to propel the growth of the market over the forecast period. However, the high cost of diagnostic imaging procedures and equipment and the side effects of diagnostic imaging procedures is expected to restrain market growth over the forecast period.

India Diagnostic Imaging Equipment Industry Segmentation

As per the scope of the report, diagnostic medical imaging is a common technique to help visualize physical diagnosis among the clinical community. For diagnostic purposes, these systems are used to image the body to obtain a correct diagnosis and determine future care. Medical imaging is the technique or process of creating visual illustrations of the inner body for clinical examination and medical interpolation, along with the visual representation of the function of certain organs or tissues. The India Diagnostic Imaging Equipment Market is Segmented by Product Type (MRI, Computed Tomography, Ultrasound, X-Ray, Nuclear Imaging, Other Modalities), Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Other Applications), End-User (Hospital, Diagnostic Centers, Other End-Users). The report offers the value (in USD million) for the above segments.

By Modality
MRI
Computed Tomography
Ultrasound
X-Ray
Nuclear Imaging
Other Modalities
By Application
Cardiology
Oncology
Neurology
Orthopedics
Gastroenterology
Gynecology
Other Applications
By End-User
Hospital
Diagnostic Centers
Other End-Users
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India Diagnostic Imaging Equipment Market Size Summary

The Indian diagnostic imaging equipment market is poised for significant growth, driven by the increasing prevalence of chronic diseases, the adoption of advanced medical imaging technologies, and a growing geriatric population. The market has shown resilience and is expected to continue its upward trajectory, supported by the resumption of diagnostic procedures and manufacturing activities post-COVID-19. The pandemic highlighted the critical role of diagnostic imaging, particularly computed tomography (CT) scanners, in managing COVID-19 cases, which has positively influenced market demand. Government initiatives and the establishment of advanced facilities, such as the MRI center at the National Brain Research Centre, further bolster market expansion. However, challenges such as the high cost of diagnostic procedures and potential side effects of imaging techniques may temper growth.

The market landscape is characterized by the presence of key players like Carestream Health Inc., Fujifilm Holdings Corporation, and Siemens Healthcare GmbH, who are actively introducing innovative products to capture market share. The oncology segment is expected to experience substantial growth due to the rising incidence of cancer and technological advancements in imaging diagnostics. The demand for MRI systems is anticipated to increase, driven by the need for effective cancer detection and diagnosis. Additionally, the introduction of portable and indigenous MRI equipment highlights the market's focus on accessibility and innovation. As the market evolves, companies that leverage cutting-edge technology and address the growing healthcare needs are likely to thrive, ensuring a robust growth trajectory for the diagnostic imaging equipment sector in India.

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India Diagnostic Imaging Equipment Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rise in the Prevalence of Chronic Diseases

      2. 1.2.2 Increased Adoption of Advanced Technologies in Medical Imaging

      3. 1.2.3 Growing Geriatric Population

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost of Diagnostic Imaging Procedures and Equipment

      2. 1.3.2 Side Effects of Diagnostic Imaging Procedures

    4. 1.4 Porter Five Forces

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD Million)

    1. 2.1 By Modality

      1. 2.1.1 MRI

      2. 2.1.2 Computed Tomography

      3. 2.1.3 Ultrasound

      4. 2.1.4 X-Ray

      5. 2.1.5 Nuclear Imaging

      6. 2.1.6 Other Modalities

    2. 2.2 By Application

      1. 2.2.1 Cardiology

      2. 2.2.2 Oncology

      3. 2.2.3 Neurology

      4. 2.2.4 Orthopedics

      5. 2.2.5 Gastroenterology

      6. 2.2.6 Gynecology

      7. 2.2.7 Other Applications

    3. 2.3 By End-User

      1. 2.3.1 Hospital

      2. 2.3.2 Diagnostic Centers

      3. 2.3.3 Other End-Users

India Diagnostic Imaging Equipment Market Size FAQs

The India Diagnostic Imaging Equipment Market size is expected to reach USD 1.49 billion in 2024 and grow at a CAGR of 10.30% to reach USD 2.44 billion by 2029.

In 2024, the India Diagnostic Imaging Equipment Market size is expected to reach USD 1.49 billion.

India Diagnostic Imaging Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)