Dublin, March 18, 2021 (GLOBE NEWSWIRE) -- The "Medical Imaging Equipment Services - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Medical Imaging Equipment Services is projected to reach US$ 23.6 billion by 2025
The market driven by growing pressure on hospitals to reduce operating costs and the ensuing implementation of hospital-wide clinical asset management programs designed to optimally manage the lifecycle of expensive assets via regular, cost-effective maintenance, monitoring and upgrades.
The market also benefits from macro trends such as 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 as evidenced by the multi-billion dollar size of the medical imaging equipment market.
As the baseline for providing patient diagnosis, medical imaging equipment represents the most valuable asset in healthcare facilities and not surprisingly significant focus is shed on enhancing life of these equipment, while simultaneously reducing the total cost of ownership. Preventive and proactive maintenance is therefore gaining in prominence and importance. In addition, implementation of clinical technology lifecycle management programs is helping bring regular and timely equipment maintenance into the spotlight. As hospital grapple with the challenge of curbing costs, on-demand access to high-talent equipment maintenance and repair is rising in popularity.
Other noteworthy trends in the market include establishment of advanced imaging centers and the ensuing expansion of addressable market opportunity; growing demand for refurbished medical imaging equipment; increased outsourcing of imaging equipment maintenance and repair to specialized third party service providers; growing awareness among care givers over the importance of appropriate use of health technologies for an effectively functioning health system; growing prominence of software based equipment services against the backdrop of the growing number of imaging equipment integrated with cloud connectivity and other software defined functions.
The United States represents the largest market worldwide supported by developed healthcare infrastructure and strong adoption of advanced imaging technologies which require routine maintenance, inspection and calibration.
Asia-Pacific ranks as the fastest growing market with a CAGR of 6.8% through the analysis period led by factors such as growing population with rising healthcare needs, increasing disposable income and per capita healthcare spending, developing healthcare infrastructure, establishment of new hospitals and healthcare institutions, focus on safe and effective use of medical products and technologies, implementation of policy frameworks in hospitals for health technology management and assessment, 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.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of Covid-19 and a Looming Global Recession
Impact of COVID-19 on Medical Imaging Market
As Medical Imaging Revenues Remain in Jeopardy, Hospitals to Consider Equipment Services to Rein in Costs
Rising Adoption of Remote Servicing
Adjusting Protocols to Push Throughput
COVID-19 Set to Influence Service Requirements of Medical Imaging Modalities
Value-added Services & Post-Warranty Contracts
Resumption of Elective Procedures Prompts Radiology Departments to Ensure High Efficiency & Uptime for Imaging Equipment
Right to Repair Legislation to Create Divide among Imaging Equipment Service Providers
Global Medical Imaging Equipment Services Market: A Primer
Types of Services
Types of Vendors
Developed Regions Dominate the Market
Fast Paced Growth Forecasts in Developing Regions
OEMs Dominate the Medical Imaging Equipment Services Market
Evolving Role of In-House Service Departments
Repair Contract Volumes
OEM Vendors Implement Strategic Initiatives to Solidify Market Position
Recent Market Activity
2. FOCUS ON SELECT PLAYERS(Total 56 Featured):
Agfa HealthCare N.V.
Medical Equipment Solutions and Applications Sagl
BC Technical, Inc.
Canon Medical Systems Corporation
Koninklijke Philips N.V.
Samsung Medison Co., Ltd.
3. MARKET TRENDS & DRIVERS
Persistent Need to Maintain Fully-Conditioned Imaging Equipment: Cornerstone for Growth
Rise in Third Party Imaging Centers result in Increased Demand for Timely Servicing
Key Factors to Consider While Selecting Medical Imaging Equipment Service Providers
Rise in Number of Diagnostic Imaging Centers to Drive Demand for Imaging Services
Service Providers Offer Plethora of Services
Application of AI in Maintenance Services
Rise in Medical Diagnostic Volumes Augurs Well for Market Growth
Aged and Outdated Equipment: Primary Demand Driver
Rise in Need for New Advances in Medical Imaging Technology
Obsolete Imaging Equipment Impacting Claim Costs and Quality of Care of Injured Workers
Refurbished Equipment Fuels Services Market
Preventive Maintenance Critical in Time and Materials Service
Remote Services: An Additional Benefit to Make the Switch
Potential for Services in Mobile Medical Imaging Equipment
Rise in Demand for Sophisticated Healthcare Technologies Drives Demand for Installation and Maintenance Services
Rise in Deployment & Usage of Imaging Equipment Across Modalities: A Review
MRI Leads the Global Diagnostic Imaging Market
Computed Tomography System (CT Scanner)
CT Imaging Gains Popularity
Demographic Factors Favor Growth
Rising Incidence of Chronic Diseases Propels the Demand for Medical Imaging
Uptrend in Healthcare Expenditure Drives Opportunities
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
Total Companies Profiled: 121
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