Diagnostic Imaging Devices - Southeast Asia

The Diagnostic Imaging Devices market market in Southeast Asia is expected to generate a revenue of US$1.24bn by 2024.
This represents a projected annual growth rate of 6.12% from 2024 to 2029, resulting in a market volume of US$1.67bn by 2029.
It is worth noting that the United States is expected to generate the highest revenue globally, reaching US$11.93bn by 2024.
In Southeast Asia, the demand for diagnostic imaging devices is rapidly growing as countries like Singapore and Malaysia invest in advanced healthcare infrastructure.

Definition:
The market covers diagnostic imaging devices such as X-ray systems, ultrasound systems, computed tomography scanners, Magnetic resonance imaging (MRT) systems, and related components.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Siemens Healthineers, General Electric, Philips, Fujifilm Holdings. Further information on the key players can be found in the Market Shares boxes.

X-ray systems
Computed tomography (CT) scanners
Magnetic resonance imaging (MRT) systems
Positron emission tomography (PET) scanners

Non-imaging diagnostics
In vitro diagnostics (IVD)

The Diagnostic Imaging Devices market in Southeast Asia is experiencing significant growth due to increasing customer preferences for advanced medical imaging technologies, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Southeast Asia are driving the demand for Diagnostic Imaging Devices. Patients and healthcare professionals in the region are increasingly seeking accurate and timely diagnoses, leading to a growing demand for high-quality imaging devices. The preference for non-invasive and radiation-free imaging techniques is also on the rise, as patients are becoming more aware of the potential risks associated with traditional imaging methods. Additionally, there is a growing demand for portable and compact imaging devices that can be easily transported to remote areas or used in ambulatory settings. Trends in the market are also contributing to the growth of the Diagnostic Imaging Devices market in Southeast Asia. One notable trend is the increasing adoption of digital imaging technologies, such as computed tomography (CT) scanners and magnetic resonance imaging (MRI) systems. These technologies offer higher image resolution, faster scanning times, and improved patient comfort compared to traditional film-based imaging methods. Another trend is the integration of artificial intelligence (AI) and machine learning algorithms into imaging devices, which can assist radiologists in interpreting images and improving diagnostic accuracy. Local special circumstances in Southeast Asia further contribute to the growth of the Diagnostic Imaging Devices market. The region has a large and growing population, with a rising middle class that has increased access to healthcare services. This demographic shift is driving the demand for advanced medical technologies, including diagnostic imaging devices. Additionally, the prevalence of chronic diseases, such as cardiovascular diseases and cancer, is increasing in Southeast Asia, leading to a greater need for accurate and early detection through imaging techniques. Underlying macroeconomic factors also play a role in the development of the Diagnostic Imaging Devices market in Southeast Asia. Economic growth and rising healthcare expenditure in the region are enabling healthcare providers to invest in advanced medical technologies. Government initiatives to improve healthcare infrastructure and access to medical services are also driving the adoption of diagnostic imaging devices. Furthermore, collaborations between local healthcare institutions and international medical device manufacturers are facilitating the transfer of technology and knowledge, further fueling market growth. In conclusion, the Diagnostic Imaging Devices market in Southeast Asia is experiencing significant growth due to increasing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for advanced imaging technologies, such as digital imaging and AI integration, is driving market growth. The region's large population, rising middle class, and increasing prevalence of chronic diseases further contribute to the market's development. Additionally, favorable macroeconomic factors, such as economic growth and government initiatives, are supporting the adoption of diagnostic imaging devices in Southeast Asia.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.