New Zealand medical imaging services market will grow at a CAGR of 7.3% by 2025

New Zealand medical imaging services market was pegged at $285 million in 2017 and is expected to garner $500 million by 2025, growing at a CAGR of 7.3% from 2018 to 2025.

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Technological advancements related to medical imaging modalities, rise in the prevalence of chronic diseases, and surge in need for early diagnosis of diseases have fueled the growth of New Zealand medical imaging services market. On the other hand, shortage of helium and high cost of sophisticated medical imaging modalities have restrained the growth to some extent. Nevertheless, increase in demand for use of multiple medical imaging modalities together has created multiple opportunities in the segment.

By modality, the New Zealand medical imaging services market is categorized into computed tomography (CT) scan, X-ray imaging, magnetic resonance imaging (MRI), ultrasound, nuclear imaging and mammography. By application, the report splits the market into cardiovascular & thoracic, gynecology/obstetrics, neuro & spine, general imaging, breast health orthopedics & musculoskeletal, and others. Based on provider, it is segmented into public provider and private provider. Based on payer, the market is segmented into district health board, accident compensation commission, private health insurance, patients, and others. By city, the market is studied across Auckland, Wellington, Christchurch, Hamilton, Tauranga, and rest of New Zealand.

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Based on modality, the ultrasound segment accounted for nearly one-third of the total market in 2017 and is expected to dominate throughout the forecast period. Rise in demand for ultrasound imaging due to the introduction of point-of-care ultrasound devices and increase in focus of key players on the development of application-specific devices have spurred the growth. On the other hand, the mammography segment is expected to grow at the highest CAGR of 9.6% throughout 2018-2025. Surge in awareness towards the need of early screening of breast cancer has driven the market.

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