Valley Cottage, NY, Dec. 20, 2017 (GLOBE NEWSWIRE) -- With a large pool of leading players, such as, General Electric Co., Siemens AG, Toshiba Medical Systems Corp., Koninklijke Philips N.V., Hitachi Ltd., Planmed OY, Esaote SpA, and EOS Imaging, the global market for orthopaedic imaging equipment observes a competitive and a fragmented business landscape, finds a research report by Future Market Insights (FMI).
These players are specifically focusing on innovations and upgradation of their products for significant expansion of their businesses, which is likely to boost this market substantially in the years to come. The focus of these participants will shift towards strategic alliances and partnerships in the near future to strengthen their presence in the global market, notes the research study.
Global Orthopaedic Imaging Equipment Market to Rise at 4.90% CAGR between 2016 and 2026
The global market for orthopaedic imaging equipment is expected to witness tremendous growth in the years to come. According to the FMI’s estimations, the opportunity in this market is likely to expand significantly at a CAGR of 4.90% over the period from 2016 to 2026 and reach US$12.5 bn by the end of the end of the forecast period. Currently, X-ray systems have emerged as the most preferred orthopaedic imaging equipment among consumers and the trend is expected to continue in the years to come.
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North America, the Middle East and Africa, Europe, Asia Pacific excluding Japan, Latin America, and Japan have surfaced as the prime regional markets for orthopaedic imaging equipment across the world. North America, among these, has been leading the global market over the last few years and is projected to maintain its lead in the near future. This regional market is expanding at a significant growth rate and is expected to benefits from the presence of a state-of-art medical and healthcare infrastructure, as well as, adequate number of skilled professionals, states the market report.
Increasing Awareness about Efficiency and Benefits of Orthopaedic Imaging Equipment to Boost Growth
“The global market for orthopaedic imaging equipment is benefiting significant impetus from the rise in bone injuries,” says the author of this study. The increasing number of sports injuries and the tremendous upsurge in the global geriatric population is also boosting the growth of this market. The augmenting prevalence of osteoporosis and osteoarthritis among elderly people and women across the world is likely to propel this market in the near future.
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On the other hand, the dearth of skilled medical and healthcare professionals, especially in developing economies, may hamper the market’s growth over the next few years. However, the constant technological advances in imaging technologies is anticipated to drive this market noticeably in the coming years, states the research report.
The review is based on a report by Future Market Insights (FMI), titled “Orthopaedic Imaging Equipment Market (Product - X-Ray System, CT-Scanner, MRI System, EOS Imaging Systems, Ultrasound, and Nuclear Imaging Systems; Indication - Acute Injuries (Sports Injuries, Fracture, and Bone Dislocation) and Chronic Disorders (Osteoarthritis, Prolapsed Disc, and Degenerative Joint Disease); End User - Hospitals, Radiology Centers, Emergency Care Facility, and Ambulatory Surgical Centers (ASCs)) - Global Industry Analysis 2012 - 2016 and Opportunity Assessment 2017 - 2027.”
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