The global Orthopedic Imaging Equipment Market was valued at US$ 9.8 billion in 2021 and is forecast to reach US$ 14.6 billion by 2031, expanding at a steady pace during the forecast period. The growing incidence of accidents, sports injuries, and bone fractures is driving the demand for advanced orthopedic diagnostic imaging solutions, fueling market growth.
Orthopedic imaging equipment, essential for diagnosing bone-related injuries and disorders, plays a crucial role in treating patients with fractures, sports injuries, and other musculoskeletal conditions. As the prevalence of these conditions increases, the need for accurate and efficient imaging tools is growing rapidly.
Imaging technologies such as magnetic resonance imaging (MRI), computed tomography (CT or CAT), and ultrasound have opened new therapy possibilities with little morbidity. The increasing prevalence of orthopedic diseases such as osteoporosis, arthritis, elbow pain, and others have increased the demand for diagnosis and diagnostic equipment across the globe.
According to the Centers for Disease Control and Prevention (CDC), in The USA, around 72 million people will be affected by arthritis by 2030. Against this backdrop, demand for orthopedic imaging equipment is expected to bolster in the USA, making it one of the most lucrative pockets in the global market.
The orthopedic imaging equipment market holds nearly 31% of the medical imaging equipment market, totaling US$ 29.5 Billion by the end of 2031. There have been significant developments in medical imaging technology and orthopedic imaging equipment devices.
Subsequently, increased rates of bone disease and accidents resulting in bone injuries are driving the need for effective orthopedic diagnostic imaging.
Key Market Insights:
- Market Valuation: US$ 9.8 billion in 2021, with projections to reach US$ 14.6 billion by 2031.
- Growth Drivers: Surge in accidents and sports injuries, increasing prevalence of bone fractures, and advancements in imaging technologies.
- Market Applications: Orthopedic imaging equipment is widely used for diagnosing and assessing fractures, joint disorders, and musculoskeletal diseases.
The orthopedic imaging equipment market is positioned for sustained growth, driven by technological innovations and a rising demand for precise, non-invasive diagnostic tools. As the global healthcare landscape continues to evolve, the market is set to benefit from ongoing advancements in imaging technology and an expanding patient base.
Competitive Landscape
Companies in the orthopedic imaging equipment market are pursuing new product innovations and launches, regulatory approvals, and expansion of their product portfolios as key strategies.
Key players are also focusing on the development of advanced and cost-effective products establishing distribution agreements to expand their global footprints, especially in Asia Pacific.
Moreover, companies are targeting Indian and China markets by establishing manufacturing units in order to reduce manufacturing costs. For instance:
- Canon Inc. purchased Toshiba Corp.’s medical division in December 2016. Canon Inc. has joined the diagnostic imaging devices market as a result of the purchase, using Toshiba Medicals’ diagnostic imaging expertise. Canon’s biomedical industry would be strengthened much more as a result of this purchase.
- On September 2016, FDA approved the OnSight 3D Extremity System by Carestream Health. This system offers high-quality point-of-care imaging for sports and orthopedic practices.
- Siemens Healthineers opened its next-generation manufacturing plant in Bengaluru in September 2019, with a total investment of INR 200 million, to create diagnostic imaging and advanced therapies products.
Key Companies Profiled
General Electric Healthcare Limited; Siemens AG; Esaote SPA; Hitachi Ltd; Koninklijke Philips N.V; Planmed OY; EOS imaging; Canon Medical Systems Corporation; Neusoft Corporation; Carestream Health
A Comprehensive Full Report
Orthopedic Imaging Equipment Market by Category
By Product:
- X-Ray Systems
- CT-Scanner
- MRI Systems
- EOS Imaging Systems
- Ultrasound
- Nuclear Imaging Systems
By Indication:
- Acute injuries
- Sports injuries
- Trauma cases
- Chronic Disorders
- Osteoarthritis
- Osteoporosis
- Prolapsed Disc
- Degenerative joint diseases
- Others
By End-User:
- Hospitals
- Radiology Centers
- Emergency Care Facility
- Ambulatory Surgical Centers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
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