Healthcare Industry in China is Expected to Reach $542.4 Billion by 2024

The healthcare industry of China is projected to reach $542.4 billion by 2024. Government initiatives and improved infrastructure, growing chronic disease prevalence, and increasing healthcare expenditure and gross domestic product are stimulating the industry growth in these countries.

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The major categories of the healthcare industry, based on diagnostic equipment type, are ultrasound devices, computed tomography scanners, X-ray, magnetic resonance imaging systems, endoscopes, and mammography equipment. In all the countries covered in the report, X-ray is expected to be the fastest growing category in addition to being the largest. During the forecast period, a 40.4% share in Singapore’s healthcare industry is predicted to be occupied by the X-ray category by 2024, progressing at a 6.4% CAGR. The growth of this category is attributed to the increasing use of such systems for various diseases’ diagnosis.

The fastest growth is expected to be witnessed by the U.S. healthcare industry at a 6.6% CAGR during the forecast period. The rising prevalence of chronic diseases is considered a key factor in the region’s growth. About six in 10 adults suffer from a chronic disease, as per the 2019 National Center for Chronic Disease Prevention and Health Promotion report. It is the top fifth country in the world considering the age-standardized rate for all cancers. The increasing cancer prevalence in the country is expected to drive the demand for advanced diagnostic imaging systems, thereby driving the industry growth.

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To strengthen their product portfolio and increase their market share, key players in the healthcare industry are acquiring other players. For instance, Core Medical Imaging Inc., a medical imaging product and services company, was acquired by Shimadzu Medical Systems USA in January 2019.

HEALTHCARE ECOSYSTEM – INSIGHTS, REPORT SEGMENTATION

Market Segmentation by Disease Type

• Cardiovascular and Circulatory Diseases
• Cancer
• Chronic Respiratory Diseases (CRD)
• Neuropsychiatric Disorders
• Diabetes, Blood, and Endocrine Disorders
• Musculoskeletal Disorders
• Chronic Liver Diseases
• Others

Market Segmentation by Payment Mechanism

• Fee-for-Service
• Self-Pay
• Value-based Reimbursement

Market Segmentation by Diagnostic Equipment Type

• X-ray
• MRI
• Ultrasound
• CT
• Mammography
• Endoscopes
• Others

Market Segmentation by IVD Technology

• Immunoassay/immunochemistry
• Clinical Chemistry
• Molecular Diagnostics
• Hematology
• Microbiology
• Urinalysis
• Others

Market Segmentation by Channel

• Non-Profit
• For-Profit
• State/Local
• Others
Market Segmentation by Payer Type

• Medicare
• Medicaid
• Private Payers
• Others

Market Segmentation by Provider Type

• Nursing Care
• Primary Care
• Specialty Care
• Cardiology
• Oncology
• Neurology
• Gastroenterology
• Hematology
• Endocrinology
• Gynecology
• Urology
• Others

Market Segmentation by Care Pathway Stage

• Primary Prevention
• Early Management
• Treatment
• Prevention and Management of Complications

Market Segmentation by Disease Stage Type

• Chronic
• Acute

Market Segmentation by Geography

• U.S. Healthcare Industry

o By disease type
o By payment mechanism
o By diagnostic equipment type
o By IVD technology
o By healthcare channel
o By hospital bed capacity
o By payer type
o By provider type
o By care pathway stage
o By disease stage

*By payer type segmentation is only provided for the U.S.

• U.K. Healthcare Industry

o By disease type
o By payment mechanism
o By diagnostic equipment type
o By IVD technology
o By healthcare channel
o By hospital bed capacity
o By provider type
o By care pathway stage
o By disease stage

• France Healthcare Industry

o By disease type
o By payment mechanism
o By diagnostic equipment type
o By IVD technology
o By healthcare channel
o By hospital bed capacity
o By provider type
o By care pathway stage
o By disease stage

• Germany Healthcare Industry

o By disease type
o By payment mechanism
o By diagnostic equipment type
o By IVD technology
o By healthcare channel
o By hospital bed capacity
o By provider type
o By care pathway stage
o By disease stage

• China Healthcare Industry

o By disease type
o By payment mechanism
o By diagnostic equipment type
o By IVD technology
o By healthcare channel
o By hospital bed capacity
o By provider type
o By care pathway stage
o By disease stage

• Japan Healthcare Industry

o By disease type
o By payment mechanism
o By diagnostic equipment type
o By IVD technology
o By healthcare channel
o By hospital bed capacity
o By provider type
o By care pathway stage
o By disease stage

• Singapore Healthcare Industry
o By disease type
o By payment mechanism
o By diagnostic equipment type
o By IVD technology
o By healthcare channel
o By hospital bed capacity
o By provider type
o By care pathway stage
o By disease stage

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