PUBLISHER: The Business Research Company | PRODUCT CODE: 1513207
PUBLISHER: The Business Research Company | PRODUCT CODE: 1513207
Orthopedic imaging equipment comprises specialized medical devices designed to capture detailed images of the musculoskeletal system, encompassing bones, joints, and soft tissues. These tools play a crucial role in diagnosing injuries, diseases, or conditions affecting the skeletal system, aiding clinicians in effective management and treatment.
The main types of orthopedic imaging equipment are drill guides, guide tubs, implant holders, custom camps, distracters, and screwdrivers. Drill guides, for instance, assist in accurately positioning and guiding the drilling of holes for screws or implants during orthopedic surgeries. These tools utilize various technologies such as x-ray systems, computed tomography (CT) scanners, magnetic resonance imaging (MRI) systems, electron optical system (EOS) imaging systems, ultrasound, and nuclear imaging systems. They find application across a range of indications including acute injuries, sports injuries, trauma cases, chronic disorders such as osteoarthritis and osteoporosis, as well as degenerative joint diseases such as prolapsed disc. End-users of orthopedic imaging equipment include hospitals, radiology centers, emergency care facilities, and ambulatory surgical centers.
The orthopedic imaging equipment market research report is one of a series of new reports from The Business Research Company that provides orthopedic imaging equipment market statistics, including orthopedic imaging equipment industry global market size, regional shares, competitors with a orthopedic imaging equipment market share, detailed orthopedic imaging equipment market segments, market trends and opportunities, and any further data you may need to thrive in the orthopedic imaging equipment industry. This orthopedic imaging equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The orthopedic imaging equipment market size has grown strongly in recent years. It will grow from $9.72 billion in 2023 to $10.24 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth observed in the historical period can be attributed to factors such as a burgeoning aging population, a rise in orthopedic conditions, increased healthcare expenditure, and the growing prevalence of sports and fitness trends.
The orthopedic imaging equipment market size is expected to see strong growth in the next few years. It will grow to $12.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. Looking ahead to the forecast period, growth is expected to be fueled by regulatory initiatives, the increasing prevalence of orthopedic disorders, expanding awareness and screening programs, rising healthcare expenditure, and the broadening scope of applications. Notable trends anticipated in the forecast period include the integration of artificial intelligence (AI) into orthopedic imaging practices, a shift towards 3D imaging technologies, heightened focus on radiation reduction measures, advancements in miniaturization and portability of imaging equipment, and the proliferation of telemedicine and remote imaging services.
The uptick in the frequency of road accidents is anticipated to drive the expansion of the orthopedic imaging equipment market in the foreseeable future. Road accidents encompass any incidents transpiring on roadways involving vehicles, pedestrians, cyclists, or other road users, resulting in property damage, injury, or loss of life. The escalating number of accidents stems from various factors, including distracted driving, speeding, impaired driving, deficient infrastructure, and human error, exacerbated by societal shifts such as urbanization and technological distractions. Orthopedic imaging equipment plays a crucial role in road accident scenarios by delivering detailed imagery of bone fractures, joint dislocations, and soft tissue injuries, facilitating precise diagnosis and treatment planning, thereby enhancing patient outcomes and expediting recovery. For example, as reported by the National Highway Traffic Safety Administration in February 2023, there were 42,915 fatalities in traffic accidents involving motor vehicles in 2021, marking a 10.5% increase from the 38,824 fatalities recorded in 2020. Fatalities in multi-vehicle accidents and urban settings surged by 16% in 2021 compared to the previous year. Consequently, the mounting incidence of road accidents is propelling the growth of the orthopedic imaging equipment market.
Prominent companies operating in the orthopedic imaging equipment market are directing their efforts towards the development of advanced technologies, such as augmented reality (AR) guidance systems, to enhance the precision and efficacy of orthopedic procedures. AR guidance systems integrate real-time imaging with digital overlays, furnishing surgeons with detailed visual guidance during surgical interventions. For instance, in March 2022, Pixee Medical, a France-based developer of computer-assisted surgery tools, unveiled its Knee+ AR computer-assisted orthopedic solution in the US. This groundbreaking technology represents the inaugural augmented reality (AR) navigation system tailored for total knee arthroplasty, designed to assist orthopedic surgeons in pinpointing implant locations during knee arthroplasty procedures through augmented reality glasses that ascertain the 3D coordinates of surgical instruments.
In August 2023, MXR Imaging Inc., a US-based provider of diagnostic imaging equipment sales, completed the acquisition of Advanced Imaging Group for an undisclosed sum. This strategic move positions MXR to bolster customer relationships by offering a more comprehensive and robust overall solution encompassing MRI, CT, PET CT, X-ray, and Ultrasound imaging modalities. Advanced Imaging Group specializes in the development of orthopedic imaging solutions and equipment, augmenting MXR's portfolio with innovative offerings in this segment.
Major companies operating in the orthopedic imaging equipment market are Hitachi Ltd., Siemens AG, Toshiba Corporation, FUJIFILM Corporation, Koninklijke Philips N.V, Stryker Corporation, GE HealthCare Technologies Inc., Hologic Inc., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Shimadzu Corporation, Canon Medical Systems Corporation, Neusoft Corporation, Planmed Oy, Agfa-Gevaert N.V., Carestream Health, Brainlab, Esaote SpA, Ziehm Imaging GmbH, EOS imaging, NeuroLogica Corp., Swissray International Inc., Xoran Technologies LLC., Allengers Medical Systems Ltd., Konica Minolta Healthcare Americas Inc., Hi-Tech Medical Imaging.
North America was the largest region in the orthopedic imaging equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the orthopedic imaging equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the orthopedic imaging equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The orthopedic imaging equipment market consists of sales of portable imaging systems, fluoroscopy systems, and c-arm machines, and bone densitometers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Orthopedic Imaging Equipment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on orthopedic imaging equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for orthopedic imaging equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The orthopedic imaging equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.