The value of the Indian medical imaging equipment market is projected to be worth more than 1.42 billion euros by 2021, according to research firm Pharmaion.
Growth can be attributed to rising patient population, launch of low-cost diagnostic imaging equipment, and a growing number of hospitals across the country. Also, increased awareness regarding early diagnosis of diseases among people and technological advancements are expected to drive the market.
The MRI segment is likely to continue to expand, but in terms of growth, ultrasound equipment is anticipated to outpace MRI equipment during 2016-2021 on account of its relatively low cost, and its high usage in diagnostic applications, the firm said.
