ASEAN Medical Imaging Equipment Market Outlook (2021-2031)
Description
The medical imaging equipment market within the ASEAN region is projected to experience significant growth, with expectations to reach approximately US$ 1,415.4 million by the year 2031, up from US$ 990.3 million in 2024. This growth trajectory indicates a compound annual growth rate (CAGR) of 5.2% from 2025 to 2031.
Overview of the ASEAN Medical Imaging Equipment Market
The expansion of the medical imaging equipment sector in ASEAN is being propelled by several factors, including an increasing demand for healthcare services, government initiatives aimed at modernizing healthcare infrastructure, and a rise in private sector investments in diagnostic technologies. Key players in this growth include countries such as Indonesia, Vietnam, the Philippines, Thailand, and Malaysia, while emerging economies like Cambodia, Myanmar, and Laos are also beginning to adopt advanced imaging technologies at a gradual pace.
Market Segmentation Analysis
The medical imaging equipment market is segmented based on product type, application, and end user.
Product Type: The market is categorized into several types of imaging systems, including Magnetic Resonance Imaging (MRI) systems, Ultrasound devices, Computed Tomography (CT) scanners, X-Ray imaging devices, and Nuclear Imaging systems. In 2024, the Computed Tomography segment is expected to dominate the market.
Application: The applications of medical imaging equipment are diverse, covering areas such as Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Urology, and other medical fields. The oncology segment is anticipated to hold the largest market share in 2024, reflecting the growing focus on cancer diagnosis and treatment.
End User: The market is also segmented by end users, which include Hospitals, Specialty Clinics, Diagnostic Imaging Centers, Academic and Research Institutes, among others. In 2024, hospitals are projected to account for the largest share of the market, highlighting their central role in healthcare delivery.
Market Outlook
The outlook for the medical imaging equipment market in the ASEAN region remains positive, driven by a combination of factors such as increasing healthcare needs, government efforts to enhance healthcare infrastructure, and rising private investments in diagnostic services. The leading countries in this growth include Indonesia, Vietnam, the Philippines, Thailand, and Malaysia, while emerging economies like Cambodia, Myanmar, and Laos are progressively adopting advanced imaging technologies.
Key Growth Drivers
Several factors are contributing to the growth of the medical imaging market in ASEAN:
Urbanization and Aging Population: The region is witnessing a surge in urban populations and an aging demographic, leading to a heightened demand for diagnostic imaging services to manage chronic diseases such as cancer, cardiovascular diseases, and diabetes.
Government Investments: Many ASEAN nations are investing in the modernization of public hospitals, incorporating advanced imaging technologies like CT, MRI, and digital X-ray systems as part of broader strategies to achieve universal health coverage.
Medical Tourism: Countries like Thailand and Malaysia are recognized as prominent medical tourism destinations, which drives investment in high-end imaging equipment to attract international patients and meet global healthcare standards.
Public-Private Collaborations: Partnerships between government entities and private companies are enhancing access to diagnostic equipment, particularly in underserved regions. For example, in Vietnam and Indonesia, collaborations have led to the installation of advanced MRI and CT systems in regional hospitals, while portable ultrasound and mobile X-ray units are being deployed to remote areas, improving access to diagnostic services.
In conclusion, the ASEAN medical imaging market is poised for growth, fueled by economic development, healthcare reforms, and advancements in digital technology. Ongoing investments in infrastructure, workforce training, and innovative imaging solutions will be essential to address the increasing healthcare demands across the region.
Country Insights
The ASEAN medical imaging equipment market can be further analyzed by individual countries, including Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. Singapore is expected to hold the largest market share in 2024.
The demand for medical imaging equipment is on the rise due to the increasing prevalence of chronic diseases, an aging population, and government initiatives aimed at expanding universal healthcare. However, the level of adoption of imaging technologies varies significantly across different countries. Singapore stands out as a leader in the market, boasting a highly developed healthcare system with robust infrastructure and a strong private sector. In contrast, countries like Vietnam, the Philippines, and Indonesia are working to enhance access to diagnostic services through health system reforms and collaborations between public and private sectors. Nonetheless, the region faces challenges such as workforce shortages, complex procurement processes, limited budgets, and uneven distribution of services.
Singapore is recognized as having the most advanced medical imaging market in the ASEAN region, serving as both a technological leader and a hub for Southeast Asia. The country features a well-established healthcare system with state-of-the-art facilities in both public and private sectors, including advanced MRI, CT, PET/CT, and hybrid imaging systems. This positions Singapore as a benchmark for clinical excellence in the region.
Key Players in the Market
Prominent companies operating in the medical imaging equipment market include GE HealthCare, Siemens Healthineers AG, FUJIFILM Holdings Corporation, CANON MEDICAL SYSTEMS CORPORATION, Koninklijke Philips N.V., and Shimadzu Corporation. These companies are employing various strategies such as market expansion, product innovation, and mergers and acquisitions to maintain competitiveness and deliver cutting-edge products to their customers.
Overview of the ASEAN Medical Imaging Equipment Market
The expansion of the medical imaging equipment sector in ASEAN is being propelled by several factors, including an increasing demand for healthcare services, government initiatives aimed at modernizing healthcare infrastructure, and a rise in private sector investments in diagnostic technologies. Key players in this growth include countries such as Indonesia, Vietnam, the Philippines, Thailand, and Malaysia, while emerging economies like Cambodia, Myanmar, and Laos are also beginning to adopt advanced imaging technologies at a gradual pace.
Market Segmentation Analysis
The medical imaging equipment market is segmented based on product type, application, and end user.
Product Type: The market is categorized into several types of imaging systems, including Magnetic Resonance Imaging (MRI) systems, Ultrasound devices, Computed Tomography (CT) scanners, X-Ray imaging devices, and Nuclear Imaging systems. In 2024, the Computed Tomography segment is expected to dominate the market.
Application: The applications of medical imaging equipment are diverse, covering areas such as Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Urology, and other medical fields. The oncology segment is anticipated to hold the largest market share in 2024, reflecting the growing focus on cancer diagnosis and treatment.
End User: The market is also segmented by end users, which include Hospitals, Specialty Clinics, Diagnostic Imaging Centers, Academic and Research Institutes, among others. In 2024, hospitals are projected to account for the largest share of the market, highlighting their central role in healthcare delivery.
Market Outlook
The outlook for the medical imaging equipment market in the ASEAN region remains positive, driven by a combination of factors such as increasing healthcare needs, government efforts to enhance healthcare infrastructure, and rising private investments in diagnostic services. The leading countries in this growth include Indonesia, Vietnam, the Philippines, Thailand, and Malaysia, while emerging economies like Cambodia, Myanmar, and Laos are progressively adopting advanced imaging technologies.
Key Growth Drivers
Several factors are contributing to the growth of the medical imaging market in ASEAN:
Urbanization and Aging Population: The region is witnessing a surge in urban populations and an aging demographic, leading to a heightened demand for diagnostic imaging services to manage chronic diseases such as cancer, cardiovascular diseases, and diabetes.
Government Investments: Many ASEAN nations are investing in the modernization of public hospitals, incorporating advanced imaging technologies like CT, MRI, and digital X-ray systems as part of broader strategies to achieve universal health coverage.
Medical Tourism: Countries like Thailand and Malaysia are recognized as prominent medical tourism destinations, which drives investment in high-end imaging equipment to attract international patients and meet global healthcare standards.
Public-Private Collaborations: Partnerships between government entities and private companies are enhancing access to diagnostic equipment, particularly in underserved regions. For example, in Vietnam and Indonesia, collaborations have led to the installation of advanced MRI and CT systems in regional hospitals, while portable ultrasound and mobile X-ray units are being deployed to remote areas, improving access to diagnostic services.
In conclusion, the ASEAN medical imaging market is poised for growth, fueled by economic development, healthcare reforms, and advancements in digital technology. Ongoing investments in infrastructure, workforce training, and innovative imaging solutions will be essential to address the increasing healthcare demands across the region.
Country Insights
The ASEAN medical imaging equipment market can be further analyzed by individual countries, including Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. Singapore is expected to hold the largest market share in 2024.
The demand for medical imaging equipment is on the rise due to the increasing prevalence of chronic diseases, an aging population, and government initiatives aimed at expanding universal healthcare. However, the level of adoption of imaging technologies varies significantly across different countries. Singapore stands out as a leader in the market, boasting a highly developed healthcare system with robust infrastructure and a strong private sector. In contrast, countries like Vietnam, the Philippines, and Indonesia are working to enhance access to diagnostic services through health system reforms and collaborations between public and private sectors. Nonetheless, the region faces challenges such as workforce shortages, complex procurement processes, limited budgets, and uneven distribution of services.
Singapore is recognized as having the most advanced medical imaging market in the ASEAN region, serving as both a technological leader and a hub for Southeast Asia. The country features a well-established healthcare system with state-of-the-art facilities in both public and private sectors, including advanced MRI, CT, PET/CT, and hybrid imaging systems. This positions Singapore as a benchmark for clinical excellence in the region.
Key Players in the Market
Prominent companies operating in the medical imaging equipment market include GE HealthCare, Siemens Healthineers AG, FUJIFILM Holdings Corporation, CANON MEDICAL SYSTEMS CORPORATION, Koninklijke Philips N.V., and Shimadzu Corporation. These companies are employing various strategies such as market expansion, product innovation, and mergers and acquisitions to maintain competitiveness and deliver cutting-edge products to their customers.
Table of Contents
165 Pages
- 1. Introduction
- 1.1 Business Market Insights Research Report Guidance
- 1.2 Market Segmentation
- 2. Executive Summary
- 2.1 Key Market Insights
- 2.2 Market Attractiveness
- 3. Research Methodology
- 3.1 Secondary Research
- 3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:
- 4. ASEAN Medical Imaging Equipment Market Landscape
- 4.1 Market Overview
- 4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
- 4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Manufacturers
- 4.3.3 Distributors/Suppliers
- 4.3.4 End Users
- 5. ASEAN Medical Imaging Equipment Market – Key Market Dynamics
- 5.1 Growth Drivers
- 5.1.1 Rising Prevalence of Chronic and Complex Diseases
- 5.1.2 Increasing Integration with Artificial Intelligence
- 5.1.3 Fostering Innovations Backed by Regulatory Reforms
- 5.2 Market Opportunities
- 5.2.1 Growth in Point-of-Care Imaging Solutions
- 5.2.2 Expansion of Imaging Capabilities in Interventional Radiology
- 5.3 Future Trends
- 5.3.1 Rising Demand for 3D and 4D Imaging
- 5.3.2 Shift Toward Portable and Handheld Imaging Devices
- 5.3.3 Expansion of Teleradiology Services
- 5.4 Impact of Drivers and Restraints
- 6. ASEAN Medical Imaging Equipment Market Regional Analysis
- 6.1 ASEAN Medical Imaging Equipment Market Overview
- 6.2 ASEAN Medical Imaging Equipment Market Revenue 2021-2031 (US$ Million)
- 6.3 ASEAN Medical Imaging Equipment Market Forecast Analysis
- 7. ASEAN Medical Imaging Equipment Market Analysis – by Product Type
- 7.1 Magnetic Resonance Imaging Systems
- 7.1.1 Overview
- 7.1.2 Magnetic Resonance Imaging Systems: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 7.2 Ultrasound
- 7.2.1 Overview
- 7.2.2 Ultrasound: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 7.3 Computed Tomography Devices
- 7.3.1 Overview
- 7.3.2 Computed Tomography Devices: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 7.4 X-Ray Imaging Devices
- 7.4.1 Overview
- 7.4.2 X-Ray Imaging Devices: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 7.5 Nuclear Imaging System
- 7.5.1 Overview
- 7.5.2 Nuclear Imaging System: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 8. ASEAN Medical Imaging Equipment Market Analysis – by Application
- 8.1 Cardiology
- 8.1.1 Overview
- 8.1.2 Cardiology: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 8.2 Oncology
- 8.2.1 Overview
- 8.2.2 Oncology: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 8.3 Neurology
- 8.3.1 Overview
- 8.3.2 Neurology: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 8.4 Orthopedics
- 8.4.1 Overview
- 8.4.2 Orthopedics: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 8.5 Gastroenterology
- 8.5.1 Overview
- 8.5.2 Gastroenterology: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 8.6 Gynecology
- 8.6.1 Overview
- 8.6.2 Gynecology: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 8.7 Urology
- 8.7.1 Overview
- 8.7.2 Urology: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 9. ASEAN Medical Imaging Equipment Market Analysis – by End User
- 9.1 Hospitals
- 9.1.1 Overview
- 9.1.2 Urology: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 9.2 Specialty Clinics
- 9.2.1 Overview
- 9.2.2 Urology: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 9.3 Diagnostics Imaging Centers
- 9.3.1 Overview
- 9.3.2 Urology: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 9.4 Academic & Research Institutes
- 9.4.1 Overview
- 9.4.2 Urology: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 9.5 Others
- 9.5.1 Overview
- 9.5.2 Urology: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 10. ASEAN Medical Imaging Equipment Market – ASEAN Analysis
- 10.1 ASEAN
- 10.1.1 ASEAN Medical Imaging Equipment Market Breakdown, by Key Country, 2025 and 2031 (%)
- 10.1.1.1 ASEAN Medical Imaging Equipment Market – Revenue and Forecast Analysis – by Country
- 10.1.1.1 Indonesia: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 10.1.1.1.1 Indonesia: ASEAN Medical Imaging Equipment Market Breakdown, by Product Type
- 10.1.1.1.2 Indonesia: ASEAN Medical Imaging Equipment Market Breakdown, by Application
- 10.1.1.1.3 Indonesia: ASEAN Medical Imaging Equipment Market Breakdown, by End User
- 10.1.1.2 Malaysia: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 10.1.1.2.1 Malaysia: ASEAN Medical Imaging Equipment Market Breakdown, by Product Type
- 10.1.1.2.2 Malaysia: ASEAN Medical Imaging Equipment Market Breakdown, by Application
- 10.1.1.2.3 Malaysia: ASEAN Medical Imaging Equipment Market Breakdown, by End User
- 10.1.1.3 Philippines: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 10.1.1.3.1 Philippines: ASEAN Medical Imaging Equipment Market Breakdown, by Product Type
- 10.1.1.3.2 Philippines: ASEAN Medical Imaging Equipment Market Breakdown, by Application
- 10.1.1.3.3 Philippines: ASEAN Medical Imaging Equipment Market Breakdown, by End User
- 10.1.1.4 Singapore: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 10.1.1.4.1 Singapore: ASEAN Medical Imaging Equipment Market Breakdown, by Product Type
- 10.1.1.4.2 Singapore: ASEAN Medical Imaging Equipment Market Breakdown, by Application
- 10.1.1.4.3 Singapore: ASEAN Medical Imaging Equipment Market Breakdown, by End User
- 10.1.1.5 Thailand: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 10.1.1.5.1 Thailand: ASEAN Medical Imaging Equipment Market Breakdown, by Product Type
- 10.1.1.5.2 Thailand: ASEAN Medical Imaging Equipment Market Breakdown, by Application
- 10.1.1.5.3 Thailand: ASEAN Medical Imaging Equipment Market Breakdown, by End User
- 10.1.1.6 Vietnam: ASEAN Medical Imaging Equipment Market – Revenue and Forecast to 2031 (US$ Million)
- 10.1.1.6.1 Vietnam: ASEAN Medical Imaging Equipment Market Breakdown, by Product Type
- 10.1.1.6.2 Vietnam: ASEAN Medical Imaging Equipment Market Breakdown, by Application
- 10.1.1.6.3 Vietnam: ASEAN Medical Imaging Equipment Market Breakdown, by End User
- 11. Competitive Landscape
- 11.1 Heat Map Analysis
- 11.2 Company Positioning and Concentration
- 12. ASEAN Medical Imaging Equipment Market Industry Landscape
- 12.1 Overview
- 12.2 Mergers and Acquisitions
- 12.3 Agreements, Collaborations, and Joint Ventures
- 12.4 New Product Launches
- 12.5 Expansions and Other Strategic Developments
- 13. Company Profiles
- 13.1 GE HealthCare
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 Siemens Healthineers AG
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 FUJIFILM Holdings Corporation
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 CANON MEDICAL SYSTEMS CORPORATION
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 Koninklijke Philips N.V.
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 Shimadzu Corporation
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 Hologic, Inc.
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 SamsungHealthcare
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
- 13.10 Neusoft Medical Systems Co., Ltd.
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
- 14. Appendix
- 14.1 About Business Market Insights
Search Inside Report
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
