Medical Imaging Equipment Services Market Size Report, 2022-2030
The global Medical Imaging Equipment Services market gathered revenue around USD 16.56 billion in 2021 and market is set to grow USD 28.70 billion by the end of 2030 and is estimated to expand at a modest CAGR of 6.9% during the prediction period 2022 to 2030.
This report analyzes the current and future prospects of the global medical imaging equipment services market. Rise in demand for advanced diagnostics for accurate diagnosis of life-threatening diseases is a key factor projected to fuel the growth of the global medical imaging equipment services market during the forecast period.
The report provides an elaborate executive summary, which comprises a snapshot of the various segments of the global medical imaging equipment services market. The report also provides information and data analysis of the global medical imaging equipment services market about segments based on modality, service provider, service type, end-user, and region.
The overview section of the report provides detailed qualitative analysis of drivers and restraints affecting the global medical imaging equipment services market along with opportunities in the global market
Additionally, the global medical imaging equipment services market report includes company profiles and competition matrix, which provide data about their businesses, product portfolios, and competitive landscape in the global medical imaging equipment services market The report includes data analysis on the global medical imaging equipment services market attractiveness by region and segments
The last section of the report provides quantitative and qualitative analysis on market share of key players operating in the global medical imaging equipment services market. It elaborates on the key competitive strategies adopted by the major industry players, thereby presenting a thorough understanding of the competitive scenario in the global medical imaging equipment services market
Report Scope of the Medical Imaging Equipment Services Market
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Report Coverage |
Details |
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Market Size by 2030 |
USD 28.70 billion |
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Growth Rate from 2022 to 2030 |
CAGR of 6.9% |
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Largest Market |
North America |
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Fastest Growing Market |
Asia Pacific |
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Base Year |
2021 |
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Forecast Period |
2022 to 2030 |
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Segments Covered |
Modality, Services Provider, Services Type, Services Type, Region |
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Companies Mentioned |
Agfa-Gevaert Group, Althea Group, Canon Medical Systems Corporation (Canon, Inc.), Carestream Health (ONEX Corporation), GE Healthcare (General Electric Company), Koninklijke Philips N.V., Hologic, Inc., Fujifilm Holding Corporation, Shimadzu Corporation, Siemens Healthineers (Siemens AG), and Universal Hospital Services, Inc.. |
Rise in Demand for Advanced Diagnostics for Accurate Diagnosis of Life-threatening Diseases to Propel Market
The demand for advanced diagnostics is expected to rise rapidly across the globe over the next few years, owing to high prevalence of diseases, increase in the geriatric population, rise in need of superior health care services, and economic development. Advancements in medical imaging equipment are likely to create new opportunities in disease prevention and early disease management by providing cost-effective, accurate, and rapid diagnosis of diseases that have been difficult to analyze.
The increase in the demand for diagnostic scans is directly proportional to the services growth rate, which is likely to drive the global medical imaging equipment services market during the forecast period.
Medical Imaging Equipment Services Market: Key Segments
In terms of modality, the global medical imaging equipment services market has been classified into ultrasound, MRI, CT, X-ray, and others
Based on service provider, the global medical imaging equipment services market has been bifurcated into original equipment manufacturers and independent services providers
In terms of service type, the global medical imaging equipment services market has been categorized into equipment removal & relocation, equipment repair & maintenance, refurbished systems, technical training, and software upgrades
Based on end-user, the global imaging equipment services market has been divided into hospitals, diagnostic centers, and others
The market size and forecast for each of these segments have been provided from 2017 to 2030. The CAGR of respective segment has also been provided for the forecast period from 2022 to 2030, considering 2021 as the base year.
Ultrasound Medical Imaging Method to Dominate Market
In terms of modality, the global medical imaging equipment services market has been classified into ultrasound, MRI, CT, X-ray, and others. Ultrasound is the most widely used medical imaging method. The segment dominated the market 2021 due to the presence of leading players such as Koninklijke Philips N.V., GE Healthcare, and Shimadzu Corporation.
Original Equipment Manufacturers to Remain Key in Global Market
Based on service provider, the global medical imaging equipment services market has been bifurcated into original equipment manufacturers and independent service providers. Several key manufacturers invest in the expansion of their service offerings. Moreover, innovations and advancements leading to rapid processing and shorter test time are expected to propel the segment during the forecast period and enhance the market penetration of all OEMs in emerging markets.
Equipment Repair & Maintenance Service Type to Account for Major Share of Global Market
In terms of service type, the global medical imaging equipment services market has been segregated into equipment removal & relocation, equipment repair & maintenance, refurbished systems, technical training, and software upgrades. Instruments require timely repair and maintenance, which is necessary in order to avoid improper diagnosis. This contributes to the growth of the equipment repair & maintenance segment.
Hospitals to be Major End User
In terms of end-user, the global medical imaging equipment services market has been divided into hospitals, diagnostic centers, and others. The hospitals segment dominated the global market in 2021 due to availability of skilled personnel and high market penetration of leading providers of medical imaging equipment in established as well as emerging markets.
Regional analysis
North America is expected to account for significant share of the global medical imaging equipment services market during the forecast period. Growth of the medical imaging equipment services market in the region can be attributed to rise in access to healthcare and presence of key players with focus on strategic investment.
The market in Asia Pacific is likely to expand at a high CAGR from 2022 to 2030. Increase in the geriatric population is projected to boost the growth of the market in the region. Moreover, rise in number of independent service organizations (ISOs) entering the market and increase in presence of local OEMs such as Canon Medical Systems Corporation (Canon Inc.), Hitachi, Ltd., and Shimadzu Corporation, who offer technologically advanced services, are likely to augment the global market.
Some of the prominent players in the Medical Imaging Equipment Services Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Points Covered in Medical Imaging Equipment Services Market Study:
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers