Medical Imaging Equipment Sector in India Expected to Exceed USD1.6 Billion by 2021

A new report into medical imaging equipment market opportunities in India between 2011 and 2021, projects that the market will exceed USD1.6 billion by 2021.

Market growth through to the year 2021 in India will be influenced primarily by rising patient population, the increasing prevalence of chronic disease, awareness of the advantages of early diagnosis, increased technological innovation, the introduction of low cost diagnostic imaging equipment and new product launches, and an increasing number of new hospitals in the country.

The new report "India Medical Imaging Equipment Market Opportunities, 2011 - 2021", was published by Pharmaion Consultants (New York, NY, USA), a research-based global management consulting firm, that focuses on the pharma and healthcare industries.

According to the Cytology & Preventive Oncology (ICPO) Institute in India, more than 700,000 new cases of cancer are registered every year in the country. More than 50% of cancer deaths are caused by breast and cervix cancer in women, and oral and lung cavity cancer in men. Heart disease also affected around 30 million people in India in 2015.

The report analyzes the Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Ultrasound, X-Ray, Nuclear Medicine, Mammography equipment categories, among others, and predicts that the MRI market will continue to dominate India's medical imaging equipment through to 2021. The growth of the ultrasound equipment market is expected to be faster than that of MRI equipment due to the lower costs and wide range of applications for ultrasound equipment.

Mr. Karan Chechi, research director, Pharmaion Consultants, said, "With growing adoption of 4D imaging technology, Cloud-based Imaging, and Multimodality Trend, India medical imaging equipment market will continue to exhibit promising growth in the coming years. Moreover, various government initiatives and workshops are being organized across the country towards creating awareness among consumers about latest imaging technologies. These workshops also offer a unified platform to clinicians, researchers, scientists and manufacturers to share their inputs for better medical imaging technique development. All these factors present a positive outlook for medical imaging equipment market in India over the course of next five years."

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