The Global Market for Medical Imaging Equipment Services is Projected to Reach US$17.3 Billion by 2022
Growing Installed Base of
Imaging Equipment to Drive the Medical Imaging Equipment Services Market,
According to a New Report by Global Industry Analysts, Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market share, size and demand forecasts on the global Medical Imaging Equipment
Services market. The global market for Medical
Imaging Equipment Services is projected to reach US$17.3 billion by 2022, driven by the 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.
Medical
imaging equipment play an indispensable role in modern healthcare practices,
contributing significantly to the improvement in overall patient care. Factors
such as aging population, increasing incidence of various diseases, rising focus
on preventive healthcare, growing investments in healthcare infrastructure and rising
volume of diagnostic procedures are driving demand for medical imaging
equipment. Medical imaging equipment services refer to a wide array of services
including repair and maintenance of medical imaging equipment, which are
critical to routine and profitable operations of healthcare establishments such
as hospitals. Imaging equipment services enable reduction in downtime and
thereby revenue losses for equipment owners. Hospitals and other facilities
usually source equipment services either from original equipment manufacturers
(OEMs), third party providers such as Independent Service
Organizations
(ISOs) or rely on in-house clinical engineering departments. OEMs dominate the
market for medical imaging equipment services worldwide, driven by a slew of
factors such as increasing technology sophistication, purchase of up-to-date equipment,
and perceived higher reliability as compared to other third party service providers.
The
world healthcare sector operates under challenging conditions, typified by
lower reimbursements, growing costs, declining budgets and growing pressure on
profits. Cost containment has therefore emerged as a major operational strategy.
The scenario is driving demand for equipment services from ISOs who offer
similar services as OEMs at lower costs. The market is also witnessing a trend
towards recruiting and training in-house biomedical and clinical engineers in clinical engineering
departments
in large hospitals to achieve savings on equipment services and realize higher
equipment uptime. The trend is driving demand for various training services. Hard-pressed
to cut down on expenditure, some hospitals are moving away from full service
contracts to alternative packages such as time and material contracts. Other
trends prevailing in the market include growing prominence of remote equipment
services and sophistication in technologies such as digital radiography in
place of conventional X-Rays which promise lower downtime and reduced on-site
visits and service costs.
As
stated by the new market research report on Medical Imaging Equipment
Services, the
United States represents the largest market worldwide supported by developed
healthcare infrastructure, large installed base of imaging equipment, and adoption
of advanced imaging technologies. Asia-Pacific ranks as the fastest growing
market with a CAGR of 8.2% through the analysis period led by factors such as growing
population, rising healthcare needs, increasing disposable income and per
capita healthcare spending, developing healthcare infrastructure, establishment
of new hospitals and healthcare institutions, 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.
Major
players in the market include Agfa Healthcare NV, Althea Group, Aramark
Corporation, BC Technical Inc., Esaote S.p.A, Fonar Corporation, GE Healthcare,
Hitachi Ltd., Hologic Inc., Koninklijke Philips N.V., Medical Equipment
Solutions and Applications Sagl, Samsung Medison Co. Ltd., Shimadzu
Corporation, Siemens Healthineers, and Toshiba Medical Systems Corporation
among others.
The
research report titled “Medical Imaging Equipment Services:
A Global Strategic Business Report” announced by Global Industry Analysts Inc.,
provides a comprehensive review
of market trends, issues, drivers, mergers, acquisitions and other strategic
industry activities of global companies. The report provides market estimates
and projections for Medical Imaging Equipment Services in value terms for all
major geographic markets such as United States, Canada, Japan, Europe (France,
Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India
and Rest of Asia-Pacific), Middle East & Africa and Latin America (Brazil
and Rest of Latin America). Global and regional markets are further analyzed by
service providers – OEM and Others.
Global
Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights
Reserved.
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