The orthopedic imaging equipment global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Orthopedic Imaging Equipment Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – The orthopedic imaging equipment market size has grown strongly in recent years. It will grow from $9.72 billion in 2023 to $10.24 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to the increased aging population, rise in orthopedic conditions, increased healthcare expenditure, and sports and fitness trends.
The orthopedic imaging equipment market size is expected to see strong growth in the next few years. It will grow to $12.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to regulatory initiatives, increasing prevalence of orthopedic disorders, growing awareness and screening programs, rising healthcare expenditure, and expanding applications. Major trends in the forecast period include the integration of artificial intelligence (AI), a shift towards 3D imaging, an increasing focus on radiation reduction, miniaturization and portability, and telemedicine and remote imaging services.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers -The increasing number of road accidents is expected to propel the growth of the orthopedic imaging equipment market going forward. Road accidents refer to any incident that occurs on the road involving vehicles, pedestrians, cyclists, or other road users, resulting in damage to property, injury, or loss of life. The increasing number of accidents is due to several factors, such as distracted driving, speeding, impaired driving, inadequate infrastructure, and human error, exacerbated by societal trends, such as urbanization and technological distractions. Orthopedic imaging equipment in road accidents provides detailed images of bone fractures, joint dislocations, and soft tissue injuries, aiding in accurate diagnosis and treatment planning, thereby improving patient outcomes and facilitating swift recovery. For instance, in February 2023, according to the National Highway Traffic Safety Administration, a US-based agency of the federal government, 42,915 individuals died in traffic accidents involving motor vehicles in 2021, a 10.5% rise over the 38,824 fatalities in 2020. Deaths in multi-vehicle accidents and on city streets have increased by 16% in 2021 as compared to 2020. Therefore, the increasing number of road accidents is driving the growth of the orthopedic imaging equipment market.
Market Trends – Major companies operating in the orthopedic imaging equipment market are focusing on developing advanced technologies, such as augmented reality (AR) guidance systems, to enhance the accuracy and efficiency of orthopedic procedures. AR guidance systems refer to a technology that integrates real-time imaging with digital overlays, providing surgeons with detailed visual guidance during surgeries. For instance, in March 2022, Pixee Medical, a France-based developer of computer-assisted surgery tools, launched its Knee+ AR computer-assisted orthopedic solution in the US. It’s the first augmented reality (AR) navigation system designed for total knee arthroplasty. It was created to aid orthopedic surgeons with implant location during knee arthroplasty procedures by utilizing augmented reality glasses that determine the 3D coordinates of tools.
The orthopedic imaging equipment market covered in this report is segmented –
1) By Product: Drill Guide, Guide Tubs, Implant Holders, Custom Camps, Distracters, Screwdrivers
2) By Systems: X-Ray Systems, Computed Tomography (CT) Scanner, Magnetic Resonance Imaging (MRI) Systems, Electron Optical System (EOS) Imaging Systems, Ultrasound, Nuclear Imaging Systems
3) By Indication: Acute injuries, Sports injuries, Trauma cases, Chronic Disorders, Osteoarthritis, Osteoporosis, Prolapsed Disc, Degenerative joint diseases, Other Indications
4) By End-User: Hospitals, Radiology Centers, Emergency Care Facility, Ambulatory Surgical Centers
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Regional Insights – North America was the largest region in the orthopedic imaging equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the orthopedic imaging equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies operating in the orthopedic imaging equipment market are Hitachi Ltd., Siemens AG, Toshiba Corporation , FUJIFILM Corporation, Koninklijke Philips N.V, Stryker Corporation, GE HealthCare Technologies Inc., Hologic Inc., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Shimadzu Corporation, Canon Medical Systems Corporation, Neusoft Corporation, Planmed Oy, Agfa-Gevaert N.V., Carestream Health, Brainlab, Esaote SpA, Ziehm Imaging GmbH, EOS imaging, NeuroLogica Corp., Swissray International Inc., Xoran Technologies LLC., Allengers Medical Systems Ltd., Konica Minolta Healthcare Americas Inc., Hi-Tech Medical Imaging
Table of Contents
1. Executive Summary
2. Orthopedic Imaging Equipment Market Report Structure
3. Orthopedic Imaging Equipment Market Trends And Strategies
4. Orthopedic Imaging Equipment Market – Macro Economic Scenario
5. Orthopedic Imaging Equipment Market Size And Growth
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27. Orthopedic Imaging Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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