Diagnostic Imaging Devices - Taiwan

The Diagnostic Imaging Devices market market in Taiwan is anticipated to achieve a revenue of US$218.90m in 2024.
This indicates a projected annual growth rate (CAGR 2024-2029) of 4.38%, leading to a market volume of US$271.30m by 2029.
It is worth mentioning that in a global context, the United States is expected to generate the highest revenue, with US$11.93bn in 2024.
Taiwan is witnessing a surge in demand for advanced diagnostic imaging devices, driven by its highly developed healthcare infrastructure and focus on technological innovation.

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 Taiwan has been experiencing steady growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in Taiwan have shifted towards more advanced and innovative diagnostic imaging devices. Patients and healthcare providers in the country are increasingly demanding high-quality imaging technology that can provide accurate and detailed results. This has led to a growing demand for devices such as MRI scanners, CT scanners, and ultrasound machines, which offer superior image resolution and diagnostic capabilities. Trends in the market also play a significant role in the development of the Diagnostic Imaging Devices market in Taiwan. Technological advancements have led to the introduction of more compact and portable imaging devices, making them more accessible to healthcare facilities across the country. Additionally, there has been a growing emphasis on the use of artificial intelligence (AI) and machine learning algorithms in diagnostic imaging devices, enabling faster and more accurate diagnoses. These trends have contributed to the overall growth of the market in Taiwan. Local special circumstances in Taiwan have further fueled the development of the Diagnostic Imaging Devices market. The country has a well-established healthcare system with a high level of government investment in healthcare infrastructure. This has created a favorable environment for the adoption of advanced diagnostic imaging devices. Furthermore, Taiwan has a rapidly aging population, which has increased the demand for diagnostic imaging services. As the elderly population continues to grow, the need for diagnostic imaging devices is expected to rise, driving further market growth. Underlying macroeconomic factors have also played a role in the development of the Diagnostic Imaging Devices market in Taiwan. The country has a strong and stable economy, with a high level of disposable income among its population. This has allowed individuals to afford advanced healthcare services, including diagnostic imaging. Additionally, the government has implemented favorable healthcare policies and initiatives to improve access to medical services, including diagnostic imaging. These factors have contributed to the overall growth and development of the market. In conclusion, the Diagnostic Imaging Devices market in Taiwan is experiencing steady growth due to customer preferences for advanced technology, trends in the market towards portable and AI-enabled devices, local special circumstances such as government investment in healthcare infrastructure and an aging population, and underlying macroeconomic factors such as a strong economy and favorable healthcare policies. These factors have created a conducive environment for the development of the market in Taiwan.

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.