Medical Imaging Industry Analysis and Forecasts 2020 March 2017 | Page 2

Medical Imaging Market in India 2017
This 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.
Complete report on Medical Imaging market spread across 51 pages is now available at
http://www.marketreportsonline.com/580847.html.