United States $5.8 Bn Medical Imaging Equipment Services Markets, 2018-2019 & 2027
DUBLIN, Sept. 18, 2019 /PRNewswire/ -- The "US Medical Imaging Equipment Services Market to 2027 - Regional Analysis and Forecasts By Service Type; Service Providers; End User, and Geography" report has been added to ResearchAndMarkets.com's offering.
The US medical imaging equipment services market is expected to reach US$ 5,848.2 Mn in 2027 from US$ 4,169.0 Mn in 2018. The market is estimated to grow with a CAGR of 3.9% from 2019-2027.
The growth of the medical imaging equipment services market is primarily attributed to the rising numbers of hospital and diagnostics centers, better quality performance due to service, and rising prevalence of chronic and acute diseases. However, the market is likely to get impacted by the risk factor such as lack of funds/grants for the diagnostic equipment during the forecast period.
Additionally, other factors, such as rising technological developments have contributed in the growth of the US medical imaging equipment services market. Medical imaging is the most essential and integral part of the diagnostic processor examinations. The diagnostic process is done through various devices such as MRIs, CT scanners, ultrasound, and other radiological devices. In the past twenty years, there have been tremendous developments done in medical technologies and imaging devices.
Also, the incorporation of artificial intelligence in devices such as CT scanners, MRI, and ultrasound has evolved the diagnosis industry. Advancements such as the use of optical semiconductors technology for the color projectors in imaging techniques, and for the ultrasound, the use of 3D metamaterial to achieve high resolution and detailed images and other innovation is likely to create more growth opportunities during the forecast period. Therefore, owing to the advancements is projected that the market is expected to showcase more growth opportunities during the forecast period.
For instance, in July 2019, Agiliti, Inc. acquired Zetta Medical Technologies, LLC, a company that provides medical imaging equipment services and parts. The acquisition builds upon the outsourced and supplemental biomedical service models and enables in extending full-service clinical engineering for high-end imaging devices. Thus, similar potential activities of major players that are beneficial from the commercial as well as therapeutic and diagnostic perspectives are expected to create an opportunistic scenario for the growth of the medical imaging equipment services market in the coming years.
In 2018, the equipment repair and maintenance segment held the most significant market share 54.9% of the medical imaging equipment services market, by service type. This segment is also anticipated to dominate the market in 2027 owing to inadequate accessibility of systems and trained staff to meet the growing demand for diagnosis leads to higher wear and tear of instruments. Also, the segment is anticipated to witness growth at a significant rate during the forecast period, 2019 to 2027.
The US medical imaging equipment services market is dominated by original equipment manufacturers (OEM) segment in 2018 with a considerable market share of 77.5%, by service providers. This segment is also predicted to dominate the market in 2027 owing to the inventions and developments leading to fast processing and less test time. Also, the segment is anticipated to witness growth at a significant rate during the forecast period, 2019 to 2027.
In 2018, the X-ray segment held a considerable market share of 32.2% of the medical imaging equipment services market, by the modality. This segment is also predicted to dominate the market in 2027 owing to noninvasive and painless, guide medical personnel as they insert catheters, also support medical and surgical treatment planning. Also, the segment is anticipated to witness growth at a significant rate during the forecast period, 2019 to 2027.
In 2018, the hospitals segment held a considerable market share of 53.6% of the medical imaging equipment services market, by end user. This segment is also predicted to dominate the market in 2027 owing to the increasing number of hospitals across the country, and rapid growth of different surgical procedures. However, the diagnostic centers segment is anticipated to witness growth at a significant rate during the forecast period, 2019 to 2027, owing to rising involvement of private service providers and growing preference of patients for outpatient settings, rising the demand for affordable services.
Key Topics Covered:
1. Introduction
1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
2. US Medical Imaging Equipment Services Market - Key Takeaways
3. Research Methodology
4. US Medical Imaging Equipment Services Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Expert Opinions
5. US Medical Imaging Equipment Services Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Rising Numbers of Hospital and Diagnostics Centers
5.1.2 Better Quality Performance Due to Services
5.1.3 Rising Prevalence of Chronic and Acute Diseases
5.2 Key Market Restraints
5.2.1 Lack of Funds/Grants for the Diagnostic Equipment.
5.3 Key Market Opportunities
5.3.1 Rising Technological Developments
5.4 Future Trends
5.4.1 Integrated Services
5.5 Impact Analysis of Drivers and Restraints
6. Medical Imaging Equipment Services Market - US Analysis
6.1 US Medical Imaging Equipment Services Market - Overview
6.2 US Medical Imaging Equipment Services Market - Revenue Forecasts and Analysis
6.3 Positioning of Key Players
7. US Medical Imaging Equipment Services Market Analysis- by Service Type
7.1 Overview
7.2 US Medical Imaging Equipment Services Market, By Service Type, 2018 & 2027 (%)
7.3 Equipment Repair and Maintenance Market
7.4 Refurbished Systems Market
7.5 Technical Training Market
7.6 Equipment Removal and Relocation Market
7.7 Software Upgrades Market
8. US Medical Imaging Equipment Services Market Analysis- by Service Providers
8.1 Overview
8.2 US Medical Imaging Equipment Services Market, By Service Providers, 2018 & 2027 (%)
8.3 Original Equipment Manufacturers (OEM) Market
8.4 Independent Service Organizations Market
9. US Medical Imaging Equipment Services Market Analysis- by Modality
9.1 Overview
9.2 US Medical Imaging Equipment Services Market, By Modality, 2018 & 2027 (%)
9.3 X-Ray Market
9.4 Ultrasound Market
9.5 Magnetic Resonance Imaging (MRI) Market
9.6 Computed Tomography (CT) Market
9.7 Others Market
10. US Medical Imaging Equipment Services Market Analysis- by End User
10.1 Overview
10.2 US Medical Imaging Equipment Services Market, By End User 2018 & 2027 (%)
10.3 Hospitals Market
10.4 Diagnostic Centers Market
10.5 Others Market
11. Medical Imaging Equipment Services Market- Industry Landscape
11.1 Overview
11.2 Growth Strategies in the Medical Imaging Equipment Services Market, 2016-2019
11.3 Organic Growth strategies
11.3.1 Overview
11.3.2 Organic Growth Strategies in the Medical Imaging Equipment Services Market, 2016-2019 (%)
11.3.3 Product Launches
11.3.4 Product Approval
11.3.5 Others
11.4 Inorganic Growth Strategies
11.4.1 Overview
11.4.2 Inorganic Growth Strategies in the Medical Imaging Equipment Services Market, 2016-2019 (%)
11.4.3 Agreement
11.4.4 Acquisition
11.4.5 Partnerships & Mergers
12. US Medical Imaging Equipment Services Market - Key Company Profiles
- GE
- Siemens Healthineers AG
- Hitachi, Ltd.
- Hologic Inc.
- Koninklijke Philips N.V.
- Shimadzu Corporation
- Canon Inc.
- Carestream (Onex Corporation)
- Agility Health
- Althea Group
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