Medical Imaging Equipment Services Market Gains Sizable Sales Prospects with Rising Emphasis of Healthcare Industry on Timely Disease Diagnosis, States TMR Study
2022-06-14
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Rising cases of chronic diseases globally is driving sales growth in the market
Increase in the number of mergers and acquisitions is expected to play key role in expansion of the medical imaging equipment services market
ALBANY, N.Y., June 14, 2022 /PRNewswire/ -- The global medical imaging equipment services market is estimated to expand at a CAGR of 6.1% during the forecast period, from 2022 to 2031, state analysts of a study by Transparency Market Research (TMR).
Leading players in the medical imaging equipment services market are increasing investments in R&Ds in order to achieve product diversification. Moreover, several enterprises are focusing on technological advancements so as to accomplish shorter test time and faster processing. This aside, leading companies in the medical imaging equipment services market are utilizing strategies such as mergers and acquisitions in order to maintain their prominent positions. These activities are prognosticated to help in overall development of the global market in the near future.
Medical Imaging Equipment Services Market: Key Findings
In the recent years, there has been a surge in the prevalence of different health disorders including cardiovascular diseases and cancer. Furthermore, the Global Cancer Observatory (GCO) states that the number of new cancer patients had reached to around 219,292,789 in 2020. Moreover, this number is likely to touch approximately 28,887,940 in 2040. Hence, rising number of cancer patients is expected to result into revenue-generation opportunities in the medical imaging equipment services market during the forecast period.
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According to statistics by the American Heart Association, around 18.6 million new cases of cardiovascular diseases (CVDs) were registered in 2019, which is considered to be increase of approximately 17.1% in the last 10 years. Hence, there were more than 523.2 million CVD patients present in 2019, which is increase of 26.6% in comparison with statistics in 2010. Hence, rise in the prevalence of CVDs is estimated to boost the demand for next-gen imaging systems in the forthcoming years. This, in turn, is foreseen to drive the future market demand for medical imaging equipment services during the forecast period. As a result, the global market for medical imaging equipment services is estimated to be valued at US$ 29.2 Bn by 2031.
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Medical Imaging Equipment Services Market: Growth Boosters
Increase in occurrence of different chronic diseases is fueling the demand for medical imaging equipment services globally
Rise in the number of surgical and diagnostic procedures across the globe is leading to growth opportunities in the medical imaging equipment services market
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Medical Imaging Equipment Services Market: Regional Analysis
The medical imaging equipment services market in North America is estimated to maintain its dominating position during the forecast period. This growth is ascribed to factors such as increase in number of patients with cardiovascular and oncological disorders specifically in the U.S. and Canada and rising investments in R&Ds in the region.
The market is projected to attract sizable growth opportunities in EMEA and Intercontinental owing to the presence of notable number of customers of different medical imaging equipment services, increase in focus on timely disease diagnosis, and presence of many well-entrenched market players in the region
Medical Imaging Equipment Services Market: Key Players
Some of the key players profiled in the report are:
Carestream Health (ONEX Corporation)
Canon Medical Systems Corporation (Canon, Inc.)
GE Healthcare (General Electric Company)
Koninklijke Philips N.V.
Drägerwerk AG & Co. KGaA
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Medical Imaging Equipment Services Market Segmentation
Service Type
Equipment Repair & Maintenance
Refurbished Systems
Equipment Removal & Relocation
Modality
Computed Tomography (CT)
X-ray
Others
Service Provider
Original Equipment Manufacturers
Independent Service Providers
End-user
Hospitals
Others
Regions Covered
North America
EMEA
Intercontinental
China
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Healthcare Research Reports by Transparency Market Research:
Operating Room Equipment Market: The global operating room equipment market is expected to be driven by increase in incidence of chronic diseases that require surgeries, rise in number of hospitals, and surge in government funding & grants.
Medical Equipment Rental Market: Companies in the global medical equipment rental market are increasing the manufacturing of personal & home care equipment, electronic & digital equipment, surgical equipment, and durable medical equipment, among others.
Medical Imaging Equipment Market: Technological advancement in the healthcare industry is one of the major factors anticipated to drive the medical imaging equipment market. Manufacturers are increasing their production capabilities of manufacturing medical imaging devices to cater the rising demand from the healthcare industry.
Urology Imaging Equipment Market: Inclination toward minimally invasive procedures and increase in demand for early diagnosis are projected to boost the growth of the global urology imaging equipment market during the forecast period.
Blood Purification Equipment Market: Rise in prevalence of diabetes and high blood pressure resulting in chronic kidney disease and increase in geriatric population are the key factors fueling the growth of the global blood purification equipment market during the forecast period.
Urodynamics Equipment and Disposables Market: The urodynamics equipment and disposables market is expected to advance at a favorable CAGR of ~6% during the forecast period. However, finding trained staff with pediatric urodynamics experience is a challenge, which needs to be addressed to improve the patient quality of life.
Surgical Equipment Market: The global surgical equipment market is driven by the rise in the number of surgeries. According to the report, the global surgical equipment market was valued at ~US$ 9.7 Bn in 2019. It is anticipated to expand at a CAGR of 4% from 2020 to 2030.
Sterilization Equipment and Disinfectant Market: High incidence & prevalence of infectious diseases and demand for safety of healthcare providers are projected to escalate the growth of global sterilization equipment and disinfectant market.
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