Medical Imaging Equipment Services to Reach $17.3 Billion

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The global market for medical imaging equipment services is projected to reach $17.3 billion by 2022, driven by the increasing health care 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.

Medical imaging equipment plays an indispensable role in modern health care practices, contributing significantly to the improvement in overall patient care. Factors such as aging population, increasing incidence of various diseases, rising focus on preventive health care, growing investments in health care infrastructure and rising volume of diagnostic procedures are driving demand for medical imaging equipment. Medical imaging equipment services refers to a wide array of services including repair and maintenance of medical imaging equipment, which are critical to routine and profitable operations of health care establishments such as hospitals. Imaging equipment services enable reduction in downtime and thereby revenue losses for equipment owners.

The world health care sector operates under challenging conditions, typified by lower reimbursements, growing costs, declining budgets and growing pressure on profits. Cost containment has therefore emerged as a major operational strategy. The scenario is driving demand for equipment services from ISOs who offer similar services as OEMs at lower costs. The market is also witnessing a trend towards recruiting and training in-house biomedical and clinical engineers in clinical engineering departments in large hospitals to achieve savings on equipment services and realize higher equipment uptime. The trend is driving demand for various training services. Hard-pressed to cut down on expenditure, some hospitals are moving away from full service contracts to alternative packages such as time and material contracts. Other trends prevailing in the market include growing prominence of remote equipment services and sophistication in technologies such as digital radiography in place of conventional X-rays which promise lower downtime and reduced on-site visits and service costs.

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