Asia Pacific Medical Imaging Market Outlook to 2028

Asia Pacific Medical Imaging Market Overview

The Asia Pacific Medical Imaging market was valued at USD 8.23 billion. This growth is primarily driven by rising demand for diagnostic imaging due to the increasing prevalence of chronic diseases such as cancer and cardiovascular conditions. Furthermore, technological advancements in imaging equipment and the growing adoption of AI and cloud computing in radiology systems are fueling the market expansion.

Key players in the Asia Pacific Medical Imaging market include Siemens Healthineers, GE Healthcare, Canon Medical Systems, Philips Healthcare, and Fujifilm Holdings Corporation. These companies are investing heavily in innovative imaging solutions, partnerships, and collaborations to enhance their market presence and cater to the rising demand for diagnostic imaging.

Philips introduced theCT 3500, which is an AI-powered CT system designed to enhance imaging quality and reduce radiation exposure. This system was launched at the2023 China International Medical Equipment Fairand the2023 Deutscher Rntgenkongress. AI-Powered Workflow: The scanner automates various processes to improve efficiency and reduce the workload on radiographers.

Japan is a dominant player in the Asia Pacific Medical Imaging market share in 2023. The countrys dominance is driven by its advanced healthcare infrastructure, a high adoption rate of AI-enabled imaging devices, and a rapidly aging population, with close to one-third of citizens aged 65 and above.

Asia Pacific Medical Imaging Market Segmentation

The market Asia Pacific Medical Imaging Marketis segmented into various factors such as Image Modality, Application and Region etc.

By Imaging Modality: The market is segmented by imaging modality into X-ray imaging, magnetic resonance imaging (MRI), computed tomography (CT), ultrasound imaging, and nuclear medicine. MRI accounted for a dominant segment in the total market share, driven by its high accuracy in soft tissue imaging, especially for detecting brain, spinal, and joint abnormalities. It is also supported by increasing use in cancer detection, particularly in Japan and China, where cancer diagnosis has become a priority.

By Application: The market is segmented by application into oncology, cardiology, neurology, orthopedics, and others. Oncology imaging had the largest share, attributed to the increasing prevalence of cancer across the region. The adoption of advanced imaging technologies, including PET and CT scans, in cancer detection and treatment planning is driving this segments dominance, especially in countries like China and India, where cancer cases have surged.

By Region: The market is segmented by region into China, Japan, South Korea, India, Australia and Rest of APAC. China dominates the Asia Pacific Medical Imaging market, holding the dominant market share. This dominance is attributed to the country's massive healthcare infrastructure investments, government initiatives for modernizing diagnostic capabilities, and increasing demand for advanced imaging solutions driven by a rising elderly population and high incidence of chronic diseases.

Asia Pacific Medical Imaging Market Competitive Landscape

• Canon: Canon Medical'sAiCEtechnology utilizes deep learning reconstruction to improve image quality while reducing noise. This technology is applicable across a wide range of MRI procedures, facilitating quicker scans without compromising diagnostic clarity. AiCE is particularly beneficial in high-resolution imaging scenarios, allowing for enhanced patient throughput and comfort.
• Fujifilm Holdings: Fujifilm acquired Hitachi Healthcare in 2021 to establishFUJIFILM Healthcare Corporation. Furthermore, in October 2022,FUJIFILM Asia Pacific's Medical Product Businesswas integrated intoFUJIFILM Healthcare Asia Pacific (HCAP). This integration enables Fujifilm to offer a more comprehensive lineup of products, including digital X-ray, MRI, CT scans, ultrasound systems, endoscopy, mammography, and the medical IT system "Synapse" powered by its AI platform ReiLI.

Asia Pacific Medical Imaging Industry Analysis

Growth Drivers

• Rising Geriatric Population: In 2024, Asia Pacific's elderly population is estimated to reach over 697 million individuals, particularly in Japan and South Korea. This growing demographic has led to a surge in demand for diagnostic imaging technologies, especially for chronic disease management and early detection of conditions like osteoporosis and arthritis.
• Increased Prevalence of Chronic Diseases: Chronic diseases such as cancer and cardiovascular ailments are expected to affect people across Asia Pacific. Medical imaging technologies like CT and MRI scanners are critical for early diagnosis and treatment planning, driving market growth. In China alone, healthcare spending for imaging technologies related to cancer diagnosis exceeded, reflecting the rising importance of early detection and imaging services in healthcare infrastructure.
• Growing Use of AI in Radiology: The Asia Pacific region saw the integration of AI in more than 7,000 medical imaging centers in 2024. AI-driven solutions are enhancing the accuracy of imaging diagnosis, improving the speed and precision of disease detection, particularly in cancer and neurological disorders. The use of AI has reduced diagnostic errors in Japan by 30,000 cases annually, showcasing the growing reliance on AI-enabled medical imaging technologies.

Challenges

• High Equipment Costs: The average cost of an MRI machine in the Asia Pacific region is very high, making it difficult for smaller hospitals and clinics to adopt advanced imaging technologies. This high cost of acquisition and maintenance limits the markets growth, particularly in emerging economies like Indonesia and Vietnam, where healthcare budgets are constrained.
• Rural Healthcare Access: Despite government initiatives, people in rural regions across Southeast Asia still have limited access to advanced medical imaging services in 2024. The lack of diagnostic facilities and the poor distribution of healthcare infrastructure create disparities in healthcare access, limiting the overall growth potential of the medical imaging market in these underserved areas.

Government Initiatives

• Indias Ayushman Bharat Program: Over 56.67 crore Ayushman Bharat Health Accounts (ABHA) have been created as of February 29, 2024. More than 34.89 crore health records have been linked to ABHA. Around 2.35 lakh health facilities have been verified on the Health Facility Registry under ABDM, including 69,633 private and over 1.66 lakh government facilities
• Japans Healthcare Digitization Plan: In June 2023, the Ministry of Health, Labor and Welfare (MHLW) launched a project team to scrutinize initiatives intended for bolstering start-up companies within the healthcare sector and devise policy recommendations across four areas, encompassing medical DX and medical devices. The government also issued a "Timetable for the Promotion of Medical DX", clarifying the fundamental concepts and specific measures aimed at fostering medical DX.

Asia Pacific Medical Imaging Market Future Outlook

The Asia Pacific Medical Imaging market is expected to grow exponentially, driven by advancements in AI, increasing investments in healthcare infrastructure, and expanding access to imaging services in emerging economies like India and China, with radiology systems and imaging devices continuing to dominate the landscape.

Future Trends

• Increased Investment in Hybrid Imaging Technologies: Hybrid imaging technologies that combine PET-CT and SPECT-CT will become more prevalent in the Asia Pacific region, driven by their ability to provide more comprehensive diagnostic information. Hospitals in major markets such as China, India, and Japan will install more hybrid imaging systems, expanding the capabilities of diagnostic centers.
• Development of Cloud-Based Imaging Solutions: Cloud-based medical imaging platforms will dominate the market by 2028, enabling easier storage, access, and sharing of imaging data across healthcare networks. These platforms will be integrated into more healthcare institutions in the region, allowing radiologists to access real-time imaging data remotely, improving diagnostic speed and accuracy.