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US Medical Imaging Equipment Services Market to 2027 - Regional Analysis and Forecasts By Service Type ; Service Providers ; Modality ; End User, and Geography

US Medical Imaging Equipment Services Market to 2027 - Regional Analysis and Forecasts By Service Type ; Service Providers ; Modality ; End User, and Geography

  • July 2019
  • 90 pages
  • ID: 5806355
  • Format: PDF
  • By The Insight Partners

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The US medical imaging equipment services market is expected to reach US$ 5,848.2 Mn in 2027 from US$ 4,169.0 Mn in 2018. The market is estimated to grow with a CAGR of 3.9% from 2019-2027.
The growth of the medical imaging equipment services market is primarily attributed to the rising numbers of hospital and diagnostics centers, better quality performance due to service, and rising prevalence of chronic and acute diseases.However, the market is likely to get impacted by the risk factor such as lack of funds/grants for the diagnostic equipment during the forecast period.

Additionally, other factors, such as rising technological developments have contributed in the growth of the US medical imaging equipment services market.Medical imaging is the most essential and integral part of the diagnostic processor examinations.

The diagnostic process is done through various devices such as MRIs, CT scanners, ultrasound, and other radiological devices.In the past twenty years, there have been tremendous developments done in medical technologies and imaging devices.

Also, the incorporation of artificial intelligence in devices such as CT scanners, MRI, and ultrasound has evolved the diagnosis industry. Advancements such as the use of optical semiconductors technology for the color projectors in imaging techniques, and for the ultrasound, the use of 3D metamaterial to achieve high resolution and detailed images and other innovation is likely to create more growth opportunities during the forecast period. Therefore, owing to the advancements is projected that the market is expected to showcase more growth opportunities during the forecast period.
For instance, in July 2019, Agiliti, Inc. acquired Zetta Medical Technologies, LLC, a company that provides medical imaging equipment services and parts. The acquisition builds upon the outsourced and supplemental biomedical service models and enables in extending full-service clinical engineering for high-end imaging devices. Thus, similar potential activities of major players that are beneficial from the commercial as well as therapeutic and diagnostic perspectives are expected to create an opportunistic scenario for the growth of the medical imaging equipment services market in the coming years.
In 2018, the equipment repair and maintenance segment held the most significant market share 54.9% of the medical imaging equipment services market, by service type. This segment is also anticipated to dominate the market in 2027 owing to inadequate accessibility of systems and trained staff to meet the growing demand for diagnosis leads to higher wear and tear of instruments. Also, the segment is anticipated to witness growth at a significant rate during the forecast period, 2019 to 2027.
The US medical imaging equipment services market is dominated by original equipment manufacturers (OEM) segment in 2018 with a considerable market share of 77.5%, by service providers. This segment is also predicted to dominate the market in 2027 owing to the inventions and developments leading to fast processing and less test time. Also, the segment is anticipated to witness growth at a significant rate during the forecast period, 2019 to 2027.
In 2018, the X-ray segment held a considerable market share of 32.2% of the medical imaging equipment services market, by the modality. This segment is also predicted to dominate the market in 2027 owing to noninvasive and painless, guide medical personnel as they insert catheters, also support medical and surgical treatment planning. Also, the segment is anticipated to witness growth at a significant rate during the forecast period, 2019 to 2027.
In 2018, the hospitals segment held a considerable market share of 53.6% of the medical imaging equipment services market, by end user. This segment is also predicted to dominate the market in 2027 owing to the increasing number of hospitals across the country, and rapid growth of different surgical procedures. However, the diagnostic centers segment is anticipated to witness growth at a significant rate during the forecast period, 2019 to 2027, owing to rising involvement of private service providers and growing preference of patients for outpatient settings, rising the demand for affordable services.
Some of the major primary and secondary sources for medical imaging equipment services included in the report are Electronic Production Radiation Control (EPRC), Food and Drug Administration (FDA), World Health Organization, National Center for Chronic Disease Prevention and Health Promotion and others.

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