Recent reports point to growth of the imaging parts market in coming years.
A recent ResearchAndMarkets.com report predicts that the medical imaging equipment market will exhibit dynamic growth globally in coming years.
The global medical imaging equipment market is projected to grow at a CAGR of 4.9%. It was valued at $35.9 billion in 2020 and is expected to reach $55 billion by 2030, according to the report
A PRNewswire report states, “In 2021, the global refurbished medical imaging equipment market size was worth $7.1 billion. The global market is likely to progress at 9.1% CAGR during the forecast period, from 2022 to 2031. By 2031, the global refurbished medical imaging equipment market is anticipated to touch value of $18.3 billion. Due to the rising need for imaging devices for the diagnosis of numerous illnesses, the global market for refurbished medical imaging equipment is anticipated to expand quickly in the coming years. With the exception of a few illnesses, medical imaging technology including MRI, X-ray, and CT scan scanners is widely utilized to identify practically every problem.”
The performance of refurbished medical imaging equipment is on par with that of brand-new equipment, which is expected to propel future market outlook for refurbished medical imaging equipment, the report adds.
“Around the world, an increase in illnesses is increasing demand for refurbished medical imaging equipment. Since they do not have to spend outrageous amounts of money on new equipment, many hospitals rely on refurbished medical imaging equipment. Market players are predicted to benefit economically from this,” it states.
North America accounted for over 37% of the global market in 2021 and is expected to account for the largest revenue share in the refurbished medical imaging equipment market. The region is anticipated to lead the global market during the forecast period. In North America, OEMs and third-party refurbishers are becoming more prevalent, which is likely to drive the regional market.
According to the new market research report “Medical Equipment Maintenance Market by Product (Imaging (MRI, CT, PET-CT, ultrasound, X-ray), Endoscopes, Lasers, Ventilators, Dialysis, Monitors, Provider (OEM, ISO, In-house), Service (Preventive, Operational), User (Hospital, ASCs) – Forecast to 2026,” is projected to reach $74.2 billion by 2026 from $45.2 billion in 2021, at a CAGR of 10.4% during the forecast period.
Transparency Market Research reports that the global medical imaging equipment services market was valued at $16.2 billion in 2021. The global market is projected to expand at a CAGR of 6.1% from 2022 to 2031. The global medical imaging equipment services market is anticipated to reach $29.2 billion by the end of 2031.
The medical imaging equipment services market is witnessing ongoing changes in customer base and competitive landscape, as the rapid shift toward value-added service offerings has increased providers’ budgetary constraints. The medical imaging equipment services market is primarily divided between independent services organizations (ISOs) and original equipment manufacturers (OEMs), which differentiate from one another through imaging equipment serviced and other service offerings. In the past few years, prominent OEMs have captured the competitive landscape of the medical imaging equipment service industry, as majority of medical imaging was conducted in hospitals.
On the other hand, in response to the OEMs prominent position, ISOs have differentiated themselves in the industry through engineering experience, personalized service, and pricing. Moreover, several ISOs globally have started providing services on time and materials basis, and have eliminated pre-approval processing.
Additionally, notable transactions within the medical imaging equipment services sector drives the global market.
