India's Medical Imaging Boom
India's diagnostic imaging market is on track to reach an impressive ₹45,000 Crore (approximately $5.4 billion) by 2030, growing at a CAGR of 8.5% from 2024. This growth is driven by a convergence of factors that are reshaping healthcare delivery across the nation.
Key Growth Drivers
| Factor | Impact |
|---|---|
| Ayushman Bharat Scheme | 500 million beneficiaries with access to diagnostic services |
| Rising Cancer Cases | 1.4 million new cases annually requiring imaging |
| Private Hospital Expansion | 2,000+ new diagnostic centers opening yearly |
| Tier-2/Tier-3 Growth | 60% of new installations in smaller cities |
Impact on Refurbished Equipment Market
The refurbished medical imaging equipment market in India is expected to grow at an even faster rate of 12-15% CAGR. Key factors include:
- Cost Sensitivity: Indian hospitals prioritize value, with refurbished systems offering 50-70% savings
- Government Healthcare Goals: Mission to install MRI in every district hospital by 2028
- Quality Improvements: Refurbished equipment now matches new systems in clinical capability
- Shorter Procurement Timelines: Refurbished systems can be installed in 4-6 weeks vs 6-12 months for new
Regional Market Analysis
| Region | Market Share | Growth Rate |
|---|---|---|
| Western India (Mumbai, Pune, Ahmedabad) | 28% | 7.5% |
| Northern India (Delhi NCR, Jaipur, Lucknow) | 32% | 9.0% |
| Southern India (Chennai, Bangalore, Hyderabad) | 30% | 8.5% |
| Eastern India (Kolkata, Bhubaneswar) | 10% | 11.0% |
What This Means for Healthcare Providers
For hospitals and diagnostic centers considering equipment investments, this market growth presents both opportunities and challenges:
- Increased competition means differentiation through technology is crucial
- Early movers in Tier-2 cities will capture significant market share
- Refurbished equipment offers a low-risk entry strategy
- Service and support infrastructure is becoming as important as equipment quality
Source: FICCI Healthcare Report 2026, Sunrays Market Analysis
Fact-Checked by Ravi Rulania, CEO, Sunrays Medical
