Global Orthopedic Imaging Market, by Product Type (X-Ray System, CT-Scanner, MRI System, EOS Imaging Systems, Ultrasound, Nuclear Imaging Systems), By Indication (Acute injuries (Sports injuries, Trauma cases), Chronic Disorders (Osteoarthritis, Osteoporosis, Prolapsed Disc, Degenerative joint diseases), Others), End User (Hospitals, Radiology Centers, Emergency Care Facility, Ambulatory Surgical Center),and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) is estimated to be valued at US$ 2,924.5 Million in 2023 and is expected to exhibit a CAGR of 4.2 % during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The launch of newer technologies is expected to provide lucrative growth opportunities for players. Thus, key market players are focused on adopting growth strategies such as partnerships, acquisition which will drive the Global Orthopedic Imaging Market. For example, on May 28, 2020, Restore Orthopedics & Spine Center, a U.S.-based orthopedic clinic announced the acquisition of the EOS imaging System, the technology capable of providing full body 2D/3D images of patients using low-dose radiation.
Global Orthopedic Imaging Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the Global Orthopedic Imaging Market. As due to pandemic, the hospital visits by the patients were reduced so the requirement for equipment of orthopedic imaging were also reduced. For instance, according to an article published by Massachusetts General Hospital on August 18, 2022, due to worldwide lockdown imposed because of COVID-19, more than 1 million orthopedic and spine surgeries were backlogged.
Global Orthopedic Imaging Market: Key Developments
The workshops and seminars related to radiation protection to healthcare professionals were being conducted which increased awareness regarding the use of imaging instruments. Their effective and safe use for diagnosis and therapy requires health professionals to develop their competencies and remain up-to-date in parallel. Hence, awareness programs can boost market growth of imaging devices during the forecast period.
For instance, on April 23, 2021, International Atomic Energy agency virtually arranged training to health professionals working with diagnostic radiation. The meeting featured seven panel discussions on medical uses of ionizing radiation and addressed weaknesses of radiation protection training and possible solutions in diagnostic radiology, fluoroscopy guided interventional procedures, nuclear medicines.
Browse 35 Market Data Tables and 33 Figures spread through 180 Pages and in-depth TOC on “Global Orthopedic Imaging Market”- Forecast to 2030 Global Orthopedic Imaging Market, by Product Type (X-Ray System, CT-Scanner, MRI System, EOS Imaging Systems, Ultrasound, Nuclear Imaging Systems), By Indication (Acute injuries (Sports injuries, Trauma cases), Chronic Disorders (Osteoarthritis, Osteoporosis, Prolapsed Disc, Degenerative joint diseases), Others), By End User (Hospitals, Radiology Centers, Emergency Care Facility, Ambulatory Surgical Center), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/orthopedic-imaging-market-3533
Key Takeaways of the Global Orthopedic Imaging Market:
- Global Orthopedic Imaging Market is expected to exhibit a CAGR of 4.2 % during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global orthopedic imaging market. Fusion and multimodality of diagnostic equipment is one of the important trend in global orthopedic imaging market. MRI and CT imaging can be integrated to offer the full range of imaging scans and comfort level to patients.
- Among end user, the hospital segment is expected to grow in the Global Orthopedic Imaging Market over the forecast period. This is because most of the cases of diagnosis and treatment of orthopedic trauma is done in hospitals. For instance, according to news published on September 24, 2022, more than 250,000 people undergo total knee replacement in India, which is 2.5 times more than those performed in 2017 as per Dr. Rajesh Malhotra, head of AIIMS orthopedic division.
- Among region, North America is expected to be the dominant region in the Global Orthopedic Imaging Market, owing to the increasing launch of products. For instance, on February 22, 2023 Peekmed, a-Portugal based artificial intelligence preoperative planning system for orthopedic surgery introduced a solution that allows live automatic planning, landmark detection, and segmentation of CT scans and X-Rays which was approved by U.S. Food and Drug Administration.
- Major players operating in the Global Orthopedic Imaging Market include GE Healthcare, Siemens AG, Esaote SpA, Hitachi Ltd., Koninklijke Philips N.V., Planmed OY,EOS Imaging, Toshiba Corporation, Canon medical systems corporation, Fujifilm holdings corporation, Carestream health Inc, Hologic Inc, Samsung Electronics, Mindray Medical International, Curvebeam LLC, Shimadzu Corporation, Neusoft Medical systems and SternMed.
