Orthopedic Medical Imaging Systems Market
Orthopedic Medical Imaging Systems Market Analysis By Product Type (X-ray Systems, CT Scanners, Ultrasound Systems, MRI Scanners & Nuclear Imaging Systems) By End-User (Hospitals, Radiology Centers, Ambulatory Surgical Centers & Other End Users) – Global Insights 2022 to 2026
Orthopedic Medical Imaging Systems Market Outlook (2022-2026)
Worldwide orthopedic medical imaging system sales are anticipated to increase at a CAGR of 4% from 2022 to 2026. As per this latest Fact.MR analysis, the global orthopedic medical imaging systems market stands at US$ 9.3 billion in 2022 and is projected to attain a valuation of US$ 10.9 billion by the end of 2026.
Increasing use of advanced medical imaging technologies across healthcare institutions and rising preference of caregivers for CT scanners and MRI scanners are expected to bolster orthopedic medical imaging devices market growth over the coming years. Ultrasound systems currently account for around 25% share of the global market.
Orthopedic Medical Imaging Systems Market Size (2022)
US$ 9.3 Billion
Projected Market Value (2026F)
US$ 10.9 Billion
Global Market Growth Rate (2022-2026)
Market Share of Ultrasound Systems (2022)
United States Market Value (2022)
US$ 3 Billion
Estimated Revenue from X-ray Systems (2026F)
US$ 3.4 Billion
Key Companies Profiled
Interested to Procure The Data
Orthopedic Medical Imaging System Sales Analysis (2017-2021) in Comparison to Markets Forecasts (2022-2026)
Prevalence of orthopedic disorders has increased over the past few years and is expected to follow a similar trend over the coming years which, is anticipated to drive the demand for orthopedic medical imaging systems through 2026.
Rising number of accidents and high incidence of bone disorders are also expected to drive the demand for orthopedic diagnostic imaging solutions over the next four years. The growing geriatric population and rapid advancements in medical imaging technologies are other factors that could favor orthopedic medical imaging equipment market growth across the forecast period.
Worldwide shipments of orthopedic medical imaging systems are slated to rise at a CAGR of 4% from 2022 to 2026. However, sales of orthopedic medical imaging systems are expected to be hampered to some extent by high costs and lack of developed healthcare infrastructure in emerging and underdeveloped economies.
What’s Sculpting Orthopedic Medical Imaging Systems Industry Expansion?
“Increasing Incidence of Osteoarthritis & Other Orthopedic Disorders”
Adoption of a sedentary lifestyle and poor eating habits have resulted in a high prevalence of disorders such as diabetes, obesity, etc. which often lead to orthopedic complications.
Growing incidence of arthritis among the general population is expected to further bolster orthopedic medical imaging systems market potential over the next four years. Moreover, the increasing geriatric population is also contributing to the rising number of orthopedic cases.
“Rising Prevalence of Obesity”
Obesity has increased among the general population over the past few years owing to poor eating habits and the adoption of an increasingly sedentary lifestyle. Being obese increases the pressure on bones and joints and puts the individual more at risk of encountering orthopedic disorders and bone-related diseases, and hence, subsequently drives orthopedic medical imaging equipment market growth potential.
An Adaptive Approach to Modern-day Research Needs
What Factors Could Adversely Impact Orthopedic Medical Imaging System Sales?
“Absence of Developed Healthcare Infrastructure in Underdeveloped Economies”
Developing and underdeveloped economies do not have an established healthcare infrastructure and are still working on the development of their healthcare infrastructure. This creates budgetary constraints and restricts orthopedic medical imaging systems market growth in these countries which, in turn, results in a restraining effect on the global orthopedic medical imaging systems industry landscape.
“High Cost of Installation”
Orthopedic medical imaging systems are often expensive due to their complexity and integration of advanced technologies. This acts as a constraining factor for the adoption of these medical imaging systems, especially in developing and underdeveloped countries.
The high cost of installation and setup in remote locations are also expected to hinder overall market potential.
How is AI in Diagnostic Imaging Aiding Market Growth?
“AI in Diagnostic Imaging Enabling Quick Results”
Technological proliferation across various industry verticals has increased exponentially over the past few years and this trend is also frequent in the healthcare industry which, is anticipated to increase the use of technologies such as artificial intelligence, machine learning, etc.
The application of AI in medical imaging is being explored extensively and has resulted in quicker diagnosis and more accurate diagnostic results than conventional medical imaging techniques.
New entrants in the market can focus on the development of new AI-enabled medical imaging systems that could help them make a space for themselves in the global orthopedic medical imaging systems market landscape.
Which Region Offers Lucrative Revenue Generation Opportunities?
“North America & Asia Pacific to Provide Rewarding Business Opportunities”
The orthopedic medical imaging systems market in North America is anticipated to account for a major market share and provide highly rewarding business opportunities across the forecast period. The presence of developed healthcare infrastructure, rapid adoption of advanced imaging technologies, favorable reimbursement policies, rising number of surgeries, and a rising prevalence of obesity are key factors that propel orthopedic medical imaging system sales in this region.
The Asia Pacific orthopedic medical imaging systems market is projected to be governed by rising investments in the development of healthcare infrastructure and a rising aging population. An increasing number of road accidents resulting in bone injuries and the rising prevalence of orthopedic disorders in countries such as India and China are also expected to lead the overall orthopedic medical imaging systems market potential in the Asia Pacific region.
Fact.MR, a market research and competitive intelligence provider, has compiled a comprehensive assessment of the regional as well as global trends prevalent in the orthopedic medical imaging systems industry.
Should Manufacturers of Medical Imaging Devices Invest in the U.S.?
“Growing Geriatric Population & High Prevalence of Obesity Providing Opportunities”
The market for orthopedic medical imaging systems in the United States is expected to be a particularly attractive one for manufacturers and suppliers owing to the presence of developed healthcare infrastructure and high healthcare expenditure.
Moreover, the growing aging population and rising incidence of obesity in the country are expected to further bolster the orthopedic medical imaging systems market potential in the country.
Rapid adoption of novel imaging technologies in the country and the rising number of product launches are other factors that are expected to propel orthopedic medical imaging system sales over the next four years. At present, the orthopedic medical imaging systems market in the U.S. enjoys a valuation of US$ 3 billion.
What is the Outlook for X-ray System Manufacturers?
“X-ray Systems to Account for Dominant Market Share”
The global orthopedic medical imaging systems market based on product type is segmented into X-ray systems, CT scanners, ultrasound systems, MRI scanners, and nuclear imaging systems.
X-ray imaging systems are highly preferred over other imaging equipment owing to their ease of access, availability, and cost-effective nature. X-ray systems have been around for years and have been proven to give reliable results with a wide spectrum of accessibility and application. Its affordable nature makes it a preferred choice in emerging and underdeveloped economies with tight budgets for healthcare imaging.
The X-ray systems segment is projected to account for a revenue value of around US$ 3.4 billion by the end of the forecast period while progressing at 3% CAGR.
CT scanners and MRI scanners are anticipated to witness a rise in popularity over the coming years but the high costs of installation and maintenance associated with them are expected to have a constraining effect on the overall orthopedic medical imaging systems market growth.
The CT scanners segment is projected to account for a valuation of approximately US$ 2 billion by the end of 2026.
Which End Users Drive High Medical Imaging Equipment Demand?
“Hospitals & Radiology Centers to Spearhead Demand for Orthopedic Medical Imaging Devices”
The orthopedic medical imaging systems market based on end user is bifurcated into hospitals, radiology centers, ambulatory surgical centers, and other end users.
Hospitals and radiology centers cumulatively account for a dominant market share in the global orthopedic medical imaging systems marketplace at present and are anticipated to maintain a similar stance over the next four years. The increasing use of diagnostic imaging solutions for the detection and treatment of several orthopedic disorders in hospitals is expected to prominently drive orthopedic medical imaging systems market potential over the next four years.
Increasing establishment of radiology centers across the world is also expected to uplift diagnostic imaging service demand.
Avail customized purchase options for your needs
Competitive Landscape :
Suppliers of medical imaging devices are focusing on expanding their reach by launching products in new markets and acquiring regulatory approvals from authorities of different regions to advance revenue generation potential.
- In July 2022, Adaptix, a U.K.-based company focused on transforming radiology, submitted a 510(k) application to the U.S. Food and Drug Administration (FDA) to market its Point-of-Care 3D orthopedic system in the United States. The company aims to provide affordable 3D imaging through its point-of-care system and allow a more accurate diagnosis than a 2D system.
Segmentation of Orthopedic Medical Imaging Systems Industry Research
By Product Type :
- X-ray Systems
- CT Scanners
- Ultrasound Systems
- MRI Scanners
- Nuclear Imaging Systems
By End User :
- Radiology Centers
- Ambulatory Surgical Centers
- Other End Users
By Region :
- North America
- Latin America
- FAQs -
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
Surgical Integration Systems Market research report covers detailed information on Global Surgical I...
Foot Orthotic Insoles Market expects to reach US$ 8,822 million by 2032 at 7.8% CAGR. United States ...
Surgical Instrument Tracking Market estimates 18% CAGR through 2032. RFID Based Surgical Instrument ...