Orthopedic Medical Imaging Industry 2018 - Market Size to Expand Significantly by the End of 2026
Orthopedic Medical Imaging Market Examination and Industry Growth Till 2026 Which is Going to Change Industry Future
Seattle, WA -- (SBWire) -- 11/20/2019 --Global Orthopedic Medical Imaging Market: Competitive Landscape
Key players in the market are focused on launching new products to expand their product portfolio. For instance, Carestream received the U.S. FDA clearance for OnSight 3D Extremity System that produces high quality diagnostic images, which enables orthopedic specialists to provide diagnostic information that is not available from conventional CT systems.
Major players operating in the global orthopedic medical imaging market include, Toshiba Medical Systems Corporation, GE Healthcare, Hitachi Corporation, Philips Healthcare, Siemens Healthineers, EOS Imaging, Planmed OY, Esaote SpA, Carestream Health, and Fujifilm Holdings Corporation.
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Global Orthopedic Medical Imaging Market – Insights
Orthopedic medical imaging aids in non-invasive assessment of internal structures of the body during medical diagnosis. The approach also helps to assess treatment responses and delivers safe, effective, and high quality imaging.
Global Orthopedic Medical Imaging Market: Drivers
Increasing prevalence of orthopedic disorders and growing geriatric population at risk of osteoarthritis is expected to boost growth of the global orthopedic medical imaging market. For instance, according to the World Health Organization (WHO), 2013, around 28.2% of the global population aged 60 years and above suffers from osteoarthritis, with an estimated 80% to have mobility handicaps. Moreover, according to the same source, osteoarthritis is expected to be the fourth most common cause of disability by 2020.
Increasing incidents of bone fractures and traumatic injuries is also expected to contribute to growth of the market. For instance, according to the International Osteoporosis Foundation, 2017, osteoporosis causes over 8.9 million fractures annually, resulting in an osteoporotic fracture every three seconds. One in three women over the age 50 is expected to experience osteoporotic fractures, as will one in five men aged 50 years and above. Moreover, according to the National Trauma Institute, in 2014, traumatic injury is a major cause of death globally, with the major share of road injury (29.1%) and falls (11.6%). According to the National Institute of Health, 2012, knee is the most commonly injured joint by adolescent athletes with an estimated 2.5 million sports-related injuries presenting to emergency departments, annually.
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Increasing development and approval of advanced orthopedic medical imaging technology is expected to fuel growth of the global orthopedic medical imaging market. For instance, in February 2018, Siemens Healthineers received the U.S. Food and Drug Administration (FDA) clearance for GOKnee3D, a magnetic resonance imaging (MRI) application that reduces the time required to perform knee diagnostics. In February 2018, Qioptiq—an Excelitas Technologies Company—launched SlimLine for X-ray diagnostics featuring spine mode, which enables optimization of overexposed images for maximum contrast and spine visibility. Moreover, 3T MRI – the latest MRI technology -uses a magnetic field that is stronger than any other MRI technology, to produce high quality images and can be used in scanning of orthopedic disorders such as bone bruises and spinal conditions.
Global Orthopedic Medical Imaging Market: Regional Analysis
North America is expected to account for the largest market share in the global orthopedic medical imaging market over the forecast period, owing to increasing adoption of orthopedic medical imaging systems. For instance, in January 2018, the Robotics Outpatient Center, Los Angeles was the only outpatient surgery center in the U.S. to adopt Globus ExcelsiusGPS system. The system has integrated spinal navigation, which allows real-time imaging of patient's anatomy whereas, robotics allows surgeries to be performed with higher accuracy thus, assuring enhanced safety to the patients.
Increasing R&D of advanced orthopedic medical imaging systems is expected to boost growth of the market in Europe. For instance, in February 2018, the European Congress of Radiology introduced two products, VolarView handheld ultrasound devices and GOPView XR2 Plus Orthopedic Package to provide higher quality orthopedic images. Moreover, in 2015, Easote launched Evolution 15 at the European Congress of Radiology. The MRI system provides enhanced image quality for better diagnostic accuracy.
The market in Latin America is expected to be driven by increasing cases of bone injuries caused due to trauma and sports. For instance, according to the survey by Imaging Technology News, February 2018, about 11,000 athletes participated in the Rio de Janeiro Summer Olympics, accounting to 1,101 injuries, where the imaging systems such as X-ray, Ultrasound, and MRI were frequently used to determine the therapeutic approach of the athletes.
Increasing launch of novel products is expected to boost growth of the market in Asia Pacific. For instance, in August 2018, Kiran Medical Systems, the Radiology Division of Trivitron Healthcare, launched a complete portfolio of Advanced Digital X-Ray systems, DSA C-Arm, Modular Smart OT Solutions and Satin Touch Radiation Protection Products at Traumacon 2018, Mumbai, India.
Key Developments in the Global Orthopedic Medical Imaging Market
---In May 2015, PLANMED OY received U.S. FDA approval for its Planmed Verity, and MaxScan maxillofacial imaging option. Planmed Verity is designed to find subtle extremity fractures within the first clinic visit. MaxScan imaging is designed for evaluating maxillofacial fractures.
---In October 2017, Carestream Health and Cobalt Health launched world's-first onsight 3D Extremity system installation at Cobalt's Imaging Centre in Cheltenham. The novel System uses cone beam technology to capture pristine 2D and 3D images of patient extremities at the point of care.
---In February 2019, Royal Philips launched Incisive CT platform at the 2019 European Congress of Radiology. Incisive CT, a cost effective imaging solution, helps imaging departments and healthcare organizations to achieve their financial, clinical and operational goals. Incisive CT features DoseWise Port, which helps to collects, measures, analyzes and reports patient and staff radiation exposure. Also it provides assistance in controlling the quality of care, efficiency, and patient and staff safety.
---In September 2019, Stryker, acquired Mobius Imaging and its subsidiary Cardan Robotics. With this acquisition, Stryker has complemented advanced imaging and robotics as well as a robust product pipeline in its product portfolio and enhanced its Spine division capabilities.
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On the basis of product type, the global orthopedic medical imaging market is segmented into:
--EOS Imaging Systems
--Nuclear Imaging Systems
On the basis of application, the global orthopedic medical imaging market is segmented into:
--Degenerative Joint Disease
On the basis of end user, the global orthopedic medical imaging market is segmented into:
--Ambulatory Surgical Centers
--Emergency Care Centers
On the basis of region, the global orthopedic medical imaging market is segmented into:
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