The “Medical Imaging Equipment Services – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
The global market for Medical Imaging Equipment Services is projected to reach US$ 23.6 billion by 2025.
The market driven by growing pressure on hospitals to reduce operating costs and the ensuing implementation of hospital-wide clinical asset management programs designed to optimally manage the lifecycle of expensive assets via regular, cost-effective maintenance, monitoring and upgrades.
The market also benefits from macro trends such as increasing healthcare burden of infectious and chronic diseases; growing demand for diagnostic procedures and the ensuing expansion of the installed base of imaging equipment across hospitals, private clinics and diagnostic centers across the world as evidenced by the multi-billion dollar size of the medical imaging equipment market.
As the baseline for providing patient diagnosis, medical imaging equipment represents the most valuable asset in healthcare facilities and not surprisingly significant focus is shed on enhancing life of these equipment, while simultaneously reducing the total cost of ownership. Preventive and proactive maintenance is therefore gaining in prominence and importance. In addition, implementation of clinical technology lifecycle management programs is helping bring regular and timely equipment maintenance into the spotlight. As hospital grapple with the challenge of curbing costs, on-demand access to high-talent equipment maintenance and repair is rising in popularity.
Other noteworthy trends in the market include establishment of advanced imaging centers and the ensuing expansion of addressable market opportunity; growing demand for refurbished medical imaging equipment; increased outsourcing of imaging equipment maintenance and repair to specialized third party service providers; growing awareness among care givers over the importance of appropriate use of health technologies for an effectively functioning health system; growing prominence of software based equipment services against the backdrop of the growing number of imaging equipment integrated with cloud connectivity and other software defined functions.
The United States represents the largest market worldwide supported by developed healthcare infrastructure and strong adoption of advanced imaging technologies which require routine maintenance, inspection and calibration.
Asia-Pacific ranks as the fastest growing market with a CAGR of 6.8% through the analysis period led by factors such as growing population with rising healthcare needs, increasing disposable income and per capita healthcare spending, developing healthcare infrastructure, establishment of new hospitals and healthcare institutions, focus on safe and effective use of medical products and technologies, implementation of policy frameworks in hospitals for health technology management and assessment, rising patient awareness over the availability of advanced medical imaging technologies, and growing prominence of affordable medical tourism services including diagnostic services in low cost Asian countries.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- Impact of COVID-19 on Medical Imaging Market
- As Medical Imaging Revenues Remain in Jeopardy, Hospitals to Consider Equipment Services to Rein in Costs
- Rising Adoption of Remote Servicing
- Adjusting Protocols to Push Throughput
- COVID-19 Set to Influence Service Requirements of Medical Imaging Modalities
- Value-added Services & Post-Warranty Contracts
- Resumption of Elective Procedures Prompts Radiology Departments to Ensure High Efficiency & Uptime for Imaging Equipment
- Right to Repair Legislation to Create Divide among Imaging Equipment Service Providers
- Global Medical Imaging Equipment Services Market: A Primer
- Types of Services
- Types of Vendors
- Developed Regions Dominate the Market
- Fast Paced Growth Forecasts in Developing Regions
- OEMs Dominate the Medical Imaging Equipment Services Market
- Market Challenges
- Evolving Role of In-House Service Departments
- Reimbursement Policies
- Repair Contract Volumes
- OEM Vendors Implement Strategic Initiatives to Solidify Market Position
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 56 Featured):
- Agfa HealthCare N.V.
- Althea Group
- Medical Equipment Solutions and Applications Sagl
- BC Technical, Inc.
- Canon Medical Systems Corporation
- Esaote S.p.A
- Fonar Corporation
- GE Healthcare
- Hitachi Ltd.
- Hologic, Inc.
- Koninklijke Philips N.V.
- Samsung Medison Co., Ltd.
- Shimadzu Corporation
- Siemens Healthineers
3. MARKET TRENDS & DRIVERS
- Persistent Need to Maintain Fully-Conditioned Imaging Equipment: Cornerstone for Growth
- Rise in Third Party Imaging Centers result in Increased Demand for Timely Servicing
- Key Factors to Consider While Selecting Medical Imaging Equipment Service Providers
- Rise in Number of Diagnostic Imaging Centers to Drive Demand for Imaging Services
- Service Providers Offer Plethora of Services
- Application of AI in Maintenance Services
- Rise in Medical Diagnostic Volumes Augurs Well for Market Growth
- Aged and Outdated Equipment: Primary Demand Driver
- Rise in Need for New Advances in Medical Imaging Technology
- Obsolete Imaging Equipment Impacting Claim Costs and Quality of Care of Injured Workers
- Refurbished Equipment Fuels Services Market
- Preventive Maintenance Critical in Time and Materials Service
- Remote Services: An Additional Benefit to Make the Switch
- Potential for Services in Mobile Medical Imaging Equipment
- Rise in Demand for Sophisticated Healthcare Technologies Drives Demand for Installation and Maintenance Services
- Rise in Deployment & Usage of Imaging Equipment Across Modalities: A Review
- MRI Leads the Global Diagnostic Imaging Market
- Computed Tomography System (CT Scanner)
- Ultrasound Systems
- Nuclear Medicine
- CT Imaging Gains Popularity
- Demographic Factors Favor Growth
- Rising Incidence of Chronic Diseases Propels the Demand for Medical Imaging
- Uptrend in Healthcare Expenditure Drives Opportunities
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- Total Companies Profiled: 121
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