Orthopaedic Imaging Equipment Market

Orthopaedic Imaging Equipment Market: X-Ray System and CT-Scanner Product Type Segments to Compete for the Most Attractive Segment Title Throughout the Forecast Period: Global Industry Analysis and Opportunity Assessment, 2016-2026

Rise in incidences of orthopaedic diseases and bone injuries is fuelling the global orthopaedic imaging equipment market growth

The market for orthopaedic imaging witnessed massive slowdown in its progress as a result of the spread of Covid-19 pandemic across the globe. But in the post covid world, the rise in incidences of orthopaedic diseases and bone injuries is fuelling the growth of the market. As recovery commences in 2021, major players are recuperating their positions through production expansion, capacity utilizations and online selling in 2021 keeping in view the covid-19 norms.

Leading corporations including General Electric Company, Siemens AG, Koninklijke Philips N.V., Canon Medical Systems Corporation, Hitachi, Ltd., EsaoteSpA, Planmed OY, Hologic, Inc., Shimadzu Analytical (India) Pvt., are making high investments in the establishment of research institutes in different regions to come up with improvements in their offerings. They are adopting business strategies such as sales contracts, strategic alliances, acquiring technical expertise, product approvals, patents and events, joint ventures, partnership agreements, collaborations, digital marketing, mergers and acquisitions, capacity utilisations, technological advancements etc. to lead the global market for orthopaedic imaging with largest market share.

For instance, Siemens Healthineers, announced the launch of its first ever “made in India” CT scanner. The next gen state-of-the-art medical imaging factory/manufacturing facility produced the imaging solutions with a total investment of INR 200 Million. The other scanners such as Somatomgo.Now and Somatomgo.Up CT scanners to be produced are well suited with Innovation facilities that help in addressing the patient’s orthopaedic needs. The scanners have managed to expand the manufacturing reach of the country. 

North America is predicted to rule the global market for the orthopaedic market through 2030 leading to the creation of several growth opportunities. Rising number of orthopaedic patients in the Asia Pacific region is anticipated to augment the growth of the market. Factors such as the increased incidence of orthopedic disorders will significantly drive the orthopedic medical imaging market growth in this Europe over the forecast period.

The global orthopaedic imaging equipment market is anticipated to be valued at nearly US$ 12,500 Mn in terms of revenue by 2026, registering a CAGR of 4.9% over the assessment period. The global orthopaedic imaging equipment market is expected to represent nearly US$ 5,000 Mn in terms of incremental opportunity between 2016 and 2026.

Global Orthopaedic Imaging Equipment Market Analysis, By Product Type, 2016–2026

  • X-Ray System segment is anticipated to be the largest segment among orthopaedic imaging equipment market product type segments, which accounted for nearly US$ 2,500 Mn in 2016 and is estimated to be valued at nearly US$ 3,500 Mn by 2026, registering a CAGR of 4.3% over the forecast period. This segment is projected to create absolute $ opportunity of nearly US$ 100 Mn in 2017 over 2016
  • CT-Scanner segment is estimated to register a 5.2% CAGR over the forecast period and be valued at nearly US$ 3,000 Mn by 2026 end. The segment is estimated to gain 48 BPS by 2026. Revenue from the CT-Scanner segment in the global orthopaedic imaging equipment market is expected to grow 1.7x by 2026 end as compared to that in 2016
  • EOS Imaging Systems segment revenue in the global orthopaedic imaging equipment market is expected to grow 5.1x by 2026 end as compared to that in 2016
  • MRI System segment is expected to create absolute $ opportunity of nearly US$ 70 Mn in 2017 over 2016. Revenue from this segment in the global orthopaedic imaging equipment market is expected to grow 1.4x by 2026 end as compared to that in 2016
  • Ultrasound segment is anticipated to record absolute $ opportunity of nearly US$ 100 Mn in 2017 over 2016. Revenue from this segment in the global orthopaedic imaging equipment market is expected to grow 1.9x by 2026 end as compared to that in 2016
  • Nuclear Imaging System segment is expected to create absolute $ opportunity of nearly US$ 30 Mn in 2017 over 2016. Revenue from this segment in the global orthopaedic imaging equipment market is expected to grow 1.6x by 2026 end as compared to that in 2016.

Global Orthopaedic Imaging Equipment Market Attractiveness Analysis, by Product Type, 2016–2026

The X-ray System segment is expected to remain the most attractive segment in the global orthopaedic imaging equipment market with an attractiveness index of 1.7. The CT-Scanner segment is anticipated to be the second-most attractive segment in the global orthopaedic imaging equipment market with an attractiveness index of 1.3 over the forecast period.

Fusion and multimodality of diagnostic equipment to be the latest trend in the global orthopaedic imaging equipment market

Fusion and multimodality of diagnostic equipment is one of the important trends likely to govern the global orthopaedic imaging equipment in the coming decade. For specialties such as spinal radiosurgery, the merger of MRI and CT imaging techniques creates an opportunity to run the full range of imaging scans simultaneously from the same place and time.

The fusion also allows to merge the information from corresponding imaging modalities for additional or customised set of information. Additionally, fusion imaging and multimodality offers a comfort level to patients as it does not need repositioning and requires less time. In addition, companies are now focussing on the development of imaging modalities to overcome the existing limitation of CT scans for orthopaedic imaging.

For example, CT scans have a limitation of multiple rotation, due to which they cannot capture weight-bearing images. However, manufacturers such as Carestream have come up with an innovative solution to this. The company has developed “OnSight 3D Extremity System” that offers high quality point of care imaging for sports and orthopaedic practices.

 --- Analyst – Healthcare, Pharmaceuticals and Medical Devices, Future Market Insights

Market Segmentation

By Product Type

  • X-Ray System
  • CT-Scanner
  • MRI System
  • EOS Imaging Systems
  • Ultrasound
  • Nuclear Imaging Systems

By Indication

  • Acute injuries
    • Sports Injuries
    • Fracture
    • Bone Dislocation
    • Others
  • Chronic Disorders
    • Osteoarthritis
    • Osteoporosis
    • Prolapsed Disc
    • Degenerative Joint Disease
    • Others
  • Others

By End User

  • Hospitals
  • Radiology Centres
  • Emergency Care Facility
  • Ambulatory Surgical Centres

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa (MEA)

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Orthopaedic Imaging Equipment Market