Hong Kong 3D Imaging Market Analysis Report 2022 to 2030

Hong Kong 3D Imaging Market Analysis

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Hong Kong's 3D imaging market is projected to grow from $0.05 Bn in 2022 to $0.18 Bn by 2030, registering a CAGR of 17.5% during the forecast period of 2022-30. The market will be driven by technological improvements and an increased desire for precise and non-invasive imaging procedures. The market is segmented by product, application, end-user & portability. Some of the major players include GE Healthcare, Philips Healthcare, Siemens Healthineers, etc.

ID: IN10HKDH001 CATEGORY: Digital Health GEOGRAPHY: Hong Kong AUTHOR: Vidhi Upadhyay

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Hong Kong 3D Imaging Market Executive Summary

Hong Kong's 3D imaging market is projected to grow from $0.05 Bn in 2022 to $0.18 Bn by 2030, registering a CAGR of 17.5% during the forecast period of 2022-30. Hong Kong has the highest life expectancy in the world (82.9 years for men and 88.0 years for females in 2020). Recurrent healthcare expenses totaled $14.8 billion in the fiscal year 2022-30, accounting for 15.9 percent of overall government recurrent spending. In Hong Kong, in the year 2020, Lung cancer was the most prevalent of all cancers with 5422 new cases preceding colorectal cancer with 5087 new cases. Heart disease was the third leading cause of death in Hong Kong in 2021, accounting for 13% of all recorded deaths that year.

3D imaging methods including computed tomography (CT), Magnetic Resonance Imaging (MRI), and three-dimensional ultrasound may produce highly detailed pictures of the human body, enabling the early diagnosis of a variety of medical disorders and diseases. This enables Hong Kong's healthcare practitioners to diagnose and treat patients more effectively and efficiently. The Hong Kong 3D imaging market is a rising business that is likely to grow significantly in the future years. With technological improvements and an increased desire for precise and non-invasive imaging procedures, 3D imaging is becoming an increasingly popular alternative for Hong Kong healthcare practitioners.

Telefield Imaging Limited a firm based in Hong Kong, has Scolioscan® as the world's first and only ultrasonic scoliosis evaluation technology, with over 26 patent clusters and a total of over 100 patents. Scolioscan evaluation system had been clinically evaluated and deployed in hospitals and clinics in Europe, Australia, Mainland China, and Hong Kong, with 19 worldwide firsts and leading technologies.

hong kong 3D imaging market analysis

Market Dynamics

Market Growth Drivers

The 3D imaging industry in Hong Kong is expanding as a result of numerous main factors. The region's aging population is driving up demand for imaging technology, while the rising prevalence of chronic illnesses such as cancer, cardiovascular disease, and diabetes are driving up the need for early and precise diagnosis and treatment using 3D imaging. Furthermore, technological improvements like the development of more advanced CT and MRI scanners, as well as increased awareness of the advantages of early diagnosis, are adding to the market's growth. The Hong Kong government's investments in healthcare are also predicted to fuel the region's 3D imaging market growth. All of these factors are driving the growth of the 3D imaging market in Hong Kong and are predicted to do so in the future.

Market Restraints

Several factors may impede the growth of the 3D imaging industry in Hong Kong. These include expensive equipment costs, a scarcity of skilled personnel, limited public healthcare funding, and regulatory obstacles. The high cost of technology can be a substantial obstacle for healthcare practitioners and institutions with limited finances, and a lack of educated specialists can lead to inaccurate diagnoses. Furthermore, limited public healthcare spending and regulatory constraints may hinder the adoption of innovative medical technology, limiting the growth of the Hong Kong 3D imaging market. These issues may provide barriers to the region's market growth and must be addressed in order to fully reap the benefits of 3D imaging.

Competitive Landscape

Key Players

GE Healthcare
Philips Healthcare
Siemens Healthineers
Hitachi Medical Corporation
Toshiba Medical Systems Corporation
Telefield Imaging Limited (HKG)
EC Healthcare (HKG)

Notable Deals

In November 2022, GE HealthCare announced partnerships with Accuray, Elekta, and RaySearch to combine GE HealthCare's imaging capabilities with precision radiation therapy to give cancer patients early diagnosis and improved treatment alternatives
March 2022, Siemens Healthineers introduced its solutions in MRI and CT portfolio- MAGNETOM Free. Star and NAEOTOM Alpha®

Healthcare Policies and Regulatory Landscape

The Department of Health is in charge of regulating and establishing rules for 3D imaging in Hong Kong. The Department of Health (DH) is in charge of ensuring that imaging services, including 3D imaging, are delivered in conformity with set standards and regulations. The Radiographers Board under the DH regulates imaging services in Hong Kong, including 3D imaging. The Radiographers Board establishes imaging practice standards and ensures that imaging services are delivered by competent and certified professionals.

Reimbursement Scenario

In Hong Kong, reimbursement for 3D imaging is mostly supplied by the public healthcare system via the Hospital Authority (HA). The HA is in charge of delivering medical services to the public in Hong Kong, including imaging.

Patients who have been recommended by a clinician and the imaging is considered essential for their diagnosis and treatment are normally eligible for coverage of imaging services, including 3D imaging, under the public healthcare system. The actual amount of payment is determined by several criteria, including the form of imaging treatment, the patient's diagnosis, and the patient's insurance coverage.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Hong Kong 3D Imaging Market Segmentation

By Product (Revenue, USD Billion):

The 3D Imaging Market is divided majorly into X-ray Imaging Systems, Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Ultrasound & Nuclear Imaging Systems. X-ray Imaging systems have the highest market share in the 3D Imaging market. 3D X- rays are mostly utilized for dental and orthopedic applications. 3D Ultrasound is majorly helpful in tracking the dynamic motion of arteries, and veins and also has applications for various fetal, cardiac, obstetric, and rectal examinations, and many more. The ultrasound segment is predicted to develop substantially over the forecast period, primarily to the advancements in technology in the healthcare industry and the several advantages given by 3D ultrasound imaging over standard ultrasound imaging.

X-ray Imaging Systems
Computed Tomography (CT)
Magnetic Resonance Imaging (MRI)
Ultrasound
Nuclear Imaging systems

By Application (Revenue, USD Billion):

The market for 3D Imaging has applications covering Cardiology, Neurology, Orthopaedics, Gynaecology, Oncology, and other areas of diagnostics as well. Cardiovascular diseases are the leading cause of death globally. The second biggest cause is cancers because of which Oncology holds the highest market share in the 3D Imaging market followed by cardiology as 3D imaging is highly utilized in these two segments for diagnostics and treatments of the same. Neurosurgeons desire three-dimensional (3D) imagery of intracranial tumors, neural structures, skulls, and veins to establish a clear visual image of the surgical field's anatomical orientation prior to surgical intervention aiding better surgical outcomes for patients. Obstetricians employ 3D ultrasound scans to see the gestational sac, pinpoint the location of an ectopic pregnancy, and evaluate for fetal deformities of the face, spine, limbs, and heart. 3D Imaging applications for gynecology are yet in evolving stage and have a great scope for expansion allowing feasible and quick patient care.

Cardiology
Neurology
Orthopedics
Gynecology
Oncology
Others (Urology, etc.)

By End User (Revenue, USD Billion):

Hospitals, Diagnostic Imaging Centers, and other end-user such as private clinics make up the segments of the 3D Imaging Market. The hospitals among these hold the biggest market share due to the increased uptake of cutting-edge medical technology, the expansion of existing 3D Imaging facilities, the rising affordability of 3D Imaging services, the rising prevalence of chronic conditions such as cardiovascular diseases, cancers, respiratory diseases which lead to rising in demand for precise and quick diagnostic and treatment options. Diagnostic Imaging Centers have also been deploying 3D Imaging equipment to improve their standard of care.

Hospitals
Diagnostic Imaging Centers
Other End Users

By Portability (Revenue, USD Billion):

The 3D Imaging market is divided into two segments Stationary & Mobile, considering the portability of the device. Stationary 3D imaging involves equipment that is installed at a particular location and is operated from the same location of installment whereas mobile ones can be relatively smaller in size and hence moved to the patients who are unable to locate the Imaging room. Mobile MRI, Ultrasound, X–ray & CT allow cutting-edge healthcare to be delivered to nearly any location and are yet in the developing stages of expansion.

Stationary
Mobile

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.