Market size estimation for Radiography equipment in India

Overview: Radiography Equipment Market in India

Valued at $45Mn in 2016, the Indian Radiography market is being driven by strong preference for Digital Radiography (DR)  by large corporate and government hospitals due to increasing patient footfall. The predecessor of DR, the Analog X-ray segment is likely to exhibit muted growth due to the increasing preference for systems with CR and Retrofit models.

 However, the growth potential held by each of these product segments varies geographically:

  • The Analog market is expected to be largely driven by the increased focus on healthcare in tier II / III and rural areas specifically in the North Eastern regions of the country
  • Whereas increasing demand for DR emanates from private multi-speciality/corporate hospitals and government teaching hospitals in metros and tier I cities

 “With roughly 60% of India residing in the rural, there is still scope for Analog X-rays. At the present moment, there is a growing need for digitisation which is quenched economically with a Retrofit or CR.”


Our Client: A major innovator of radiology, cardiology and surgical products as well as healthcare IT solutions globally

Challenge Statement: Our client was looking to understand the overall market dynamics for Radiography equipment in the Indian Market specifically with regards to the three vital “Cs”; channel partner, customer and competition. The strategy related to the product segment was to be devised based on the forecasted potential predicted by EMeRG for the next three years.

Research Design: Radiography market sizing with a strong focus on gathering competition intelligence required an in-depth analysis of qualitative and quantitative insights sought from credible secondary and primary sources. EMeRG anticipated secondary research generated import/export data to arrive upon approximate market numbers. The delta was expected to be narrowed during primary interviews with Sales/Product Managers handing Radiography portfolios at competing OEMs. The refined market numbers were also expected to be broken down to market shares of top market participants. Capitalising on the vast in-house on ground med tech experience the sources were identified at the outset of the study to anticipate the availability of insights through secondary sources.

Research Methodology: The first step in understanding the Radiography market in the country was to understand the market participants, their Radiography offerings and average selling prices at which the devices are sold. Secondary research utilizing regional sources of information was employed to understand the key market participants who were then categorised based on their geographical reach. EMeRG conducted a deep dive into the installed base of Radiography devices across the country utilizing various data sources such as 

Atomic Energy Regulatory Board (AERB) and Ministry of Corporate Affairs (MCA). EMeRG analysed the data put forth by AERB sources to arrive upon the installed base in the country by regions and MCA to understand the overall revenues earned by the market participants in India. In addition, analysis of public tenders and imports was conducted to understand the uptake of Radiography equipment.

A detailed list of the key med-tech OEMs as well as their corresponding distributors was created. The geographical footprint of individual channel partners was assessed.

EMeRG interviewed ~60 industry stakeholders (Industry Channel Partners and OEM employees).  The probative interviews were conducted telephonically and face to face with respondents across the country. 

“The price range of an Analog X-ray is the major decider in India. The current market leader commands close to 50% market share as majority of the market is purchasing units priced between INR 2-4 lakhs.”                     

Research Outcome: EMeRG’s unbiased research revealed the dwindling performance of Analog X-rays among customers in metro and tier I cities specifically within customer segments such as medical universities and large corporate hospitals. These customers were increasingly favouring DR units to handle large volumes of patients requiring Radiography services. EMeRG gathered information regarding the mushrooming of several regional OEMs pandering to the specific customer needs in and around their regions of operation. Geographically, India’s North East market held significant potential specifically for value equipment. The actionable intelligence has helped our client internalize a detailed product strategy which is in process of being implemented by the client.


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