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Medical Imaging Equipment Services - Global Market Trajectory & Analytics

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    Report

  • 529 Pages
  • October 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338521

Global Medical Imaging Equipment Services Market to Reach $25.7 Billion by 2027

Amid the COVID-19 crisis, the global market for Medical Imaging Equipment Services estimated at US$19.5 Billion in the year 2020, is projected to reach a revised size of US$25.7 Billion by 2027, growing at a CAGR of 4% over the period 2020-2027. Equipment Repair & Maintenance, one of the segments analyzed in the report, is projected to record a 4.6% CAGR and reach US$15.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Equipment Removal & Relocation segment is readjusted to a revised 2.5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $5.8 Billion, While China is Forecast to Grow at 5.7% CAGR

The Medical Imaging Equipment Services market in the U.S. is estimated at US$5.8 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$2.8 Billion by the year 2027 trailing a CAGR of 5.7% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 3.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.9 Billion by the year 2027.

Refurbished Systems Segment to Record 3.8% CAGR

In the global Refurbished Systems segment, USA, Canada, Japan, China and Europe will drive the 3.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.2 Billion in the year 2020 will reach a projected size of US$4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 4.6% CAGR through the analysis period.

Select Competitors (Total 56 Featured)

  • Agfa HealthCare N.V.
  • Althea Group
  • Medical Equipment Solutions and Applications Sagl
  • BC Technical, Inc.
  • Canon Medical Systems Corporation
  • Esaote S.p.A
  • Fonar Corporation
  • GE Healthcare
  • Hitachi Ltd.
  • Hologic, Inc.
  • Koninklijke Philips N.V.
  • Samsung Medison Co., Ltd.
  • Shimadzu Corporation
  • Siemens Healthineers
  • TRIMEDX

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to a digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Medical Imaging Equipment Services

What is the estimated value of the Global Market for Medical Imaging Equipment Services?

The Global Market for Medical Imaging Equipment Services was estimated to be valued at $19.5 Billion in 2020.

What is the growth rate of the Global Market for Medical Imaging Equipment Services?

The growth rate of the Global Market for Medical Imaging Equipment Services is 4.0%, with an estimated value of $25.7 Billion by 2027.

What is the forecasted size of the Global Market for Medical Imaging Equipment Services?

The Global Market for Medical Imaging Equipment Services is estimated to be worth $25.7 Billion by 2027.

Who are the key companies in the Global Market for Medical Imaging Equipment Services?

Key companies in the Global Market for Medical Imaging Equipment Services include Agfa HealthCare N.V., Althea Group, Medical Equipment Solutions and Applications Sagl, BC Technical, Inc., Canon Medical Systems Corporation, Esaote S.p.A, Fonar Corporation, GE Healthcare and Hologic, Inc..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • IMPACT OF COVID-19 on MEDICAL IMAGING MARKET
  • Imaging Screening Volume % Change 1H 2019 Vs 1H 2020 in U.S Hospitals
  • As Medical Imaging Revenues Remain in Jeopardy, Hospitals Switch to 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
  • Medical Imaging Equipment Services - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Global Medical Imaging Equipment Services Market: A Primer
  • Types Of Services
  • Types of Vendors
  • Outlook
  • Developed Regions Dominate the Market
  • Fast Paced Growth Forecasts in Developing Regions
  • OEMs Dominate the Medical Imaging Equipment Services Market
  • Market Challenges
  • Evolving Role of In-House Service Departments
  • Reimbursement Policies
  • Repair Contract Volumes
  • COMPETITION
  • Market Share of Leading Players in Global Medical imaging equipment Market: 2020
  • Market Share of Leading Players in Global CT Scanners Market: 2020
  • Market Share of Leading Players in Global MRI Equipment Market: 2020
  • Market Share of Leading Players in the Global Ultrasound Equipment Market: 2020
  • OEM Vendors Implement Strategic Initiatives to Solidify Market Position
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Persistent Need to Maintain Fully-Conditioned Imaging Equipment: Cornerstone for Growth
  • Cost Comparison of Different Imaging Modalities
  • Global Medical Imaging Equipment Market by Modality (2020): Percentage Breakdown of Revenues for Computer Tomography (CT), MRI, Nuclear Imaging, Ultrasound and X-Ray Equipment
  • 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
  • Magnetic Resonance Imaging (MRI) Units in Select Countries (Per Million Population) for the Year 2019
  • Computed Tomography System (CT Scanner)
  • Ultrasound Systems
  • Global Ultrasound Systems Market by Portability Type (2019): Percentage Breakdown of Unit Sales for Cart Systems and Point-of Care Systems
  • X-Ray
  • Nuclear Medicine
  • CT Imaging Gains Popularity
  • Demographic Factors Favor Growth
  • Global Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Rising Incidence of Chronic Diseases Propels the Demand for Medical Imaging
  • Rising Prevalence of Chronic Diseases Amplifies the Volume of Diagnostic Imaging Procedures: Global Cost of Chronic Diseases (In US$ Billion) for the Years 2018 and 2030
  • Uptrend in Healthcare Expenditure Drives Opportunities
  • World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
  • Healthcare Costs as a % of GDP by Country for the Years 2020 & 2023
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Medical Imaging Equipment Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 2: World Historic Review for Medical Imaging Equipment Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 3: World 15-Year Perspective for Medical Imaging Equipment Services by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2012, 2021 & 2027
  • Table 4: World Recent Past, Current & Future Analysis for Equipment Repair & Maintenance by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 5: World Historic Review for Equipment Repair & Maintenance by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 6: World 15-Year Perspective for Equipment Repair & Maintenance by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 7: World Recent Past, Current & Future Analysis for Equipment Removal & Relocation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 8: World Historic Review for Equipment Removal & Relocation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 9: World 15-Year Perspective for Equipment Removal & Relocation by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 10: World Recent Past, Current & Future Analysis for Refurbished Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 11: World Historic Review for Refurbished Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 12: World 15-Year Perspective for Refurbished Systems by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 13: World Recent Past, Current & Future Analysis for Other Service Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 14: World Historic Review for Other Service Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 15: World 15-Year Perspective for Other Service Types by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 16: World Recent Past, Current & Future Analysis for OEM by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 17: World Historic Review for OEM by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 18: World 15-Year Perspective for OEM by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 19: World Recent Past, Current & Future Analysis for Other Service Providers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 20: World Historic Review for Other Service Providers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 21: World 15-Year Perspective for Other Service Providers by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 22: World Recent Past, Current & Future Analysis for Hospitals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 23: World Historic Review for Hospitals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 24: World 15-Year Perspective for Hospitals by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 25: World Recent Past, Current & Future Analysis for Diagnostic Centers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 26: World Historic Review for Diagnostic Centers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 27: World 15-Year Perspective for Diagnostic Centers by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 28: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 29: World Historic Review for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 30: World 15-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
  • Medical Imaging Equipment Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Overview
  • OEMs: The Dominant Service Provider Segment
CANADA
JAPAN
  • Medical Imaging Equipment Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Market Overview
CHINA
  • Medical Imaging Equipment Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Market Overview
EUROPE
  • Medical Imaging Equipment Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Overview
FRANCE
  • Medical Imaging Equipment Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Medical Imaging Equipment Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Medical Imaging Equipment Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Medical Imaging Equipment Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Market Overview
  • Proliferation of Medical Tourism Lends Demand
AUSTRALIA
  • Medical Imaging Equipment Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Medical Imaging Equipment Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Medical Imaging Equipment Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Medical Imaging Equipment Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Medical Imaging Equipment Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 56

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Agfa HealthCare N.V.
  • Althea Group
  • Medical Equipment Solutions and Applications Sagl
  • BC Technical, Inc.
  • Canon Medical Systems Corporation
  • Esaote S.p.A
  • Fonar Corporation
  • GE Healthcare
  • Hitachi Ltd.
  • Hologic, Inc.
  • Koninklijke Philips N.V.
  • Samsung Medison Co., Ltd.
  • Shimadzu Corporation
  • Siemens Healthineers
  • TRIMEDX