Orthopedic Medical Imaging Market Research Key Players,Supply Chain and Top Players GE Healthcare, Philips Healthcare, Siemens Healthineers, Toshiba Medical Systems

Orthopedic medical imaging allows doctors to non-invasively examine the internal structure of the body for aiding in diagnosing a medical condition. Medical imaging devices identify and monitor diseases or injuries by generating images representing internal anatomic structures of the patient's body. Orthopedic medical imaging has proved to be an informational tool that has helped physicians to diagnose the disease and response of the treatment. Orthopedic medical imaging deliver safe, effective, and high quality imaging, which is a vital parameter for doctors for medical decision-making, which can eventually minimize the need for surgical interventions.

Market Dynamics

Rise in orthopedic disorders and increasing geriatric population that are highly susceptible to develop osteoarthritis is expected to propel the market growth. According to the World Health Organization (WHO), 2013, around 28.2% of the global population aged 60 years and above suffer from osteoarthritis, with an estimated 80% to have mobility handicaps. WHO also states osteoarthritis is expected to be the fourth most common cause of disability by 2020. 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.

Increasing cases of bone fracture trauma due to fall, motor vehicle accident or sports, requires efficient medical intervention, which is provided by orthopedic medical imaging systems, thus, augmenting the market growth. 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. This number is expected to increase in the near future.

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Moreover, technological advancements in imaging technology, along with specialized training have provided efficient diagnosis for fast intervention. For instance, in February 2018, Siemens Healthineers received the FDA clearance from the U.S. Food and Drug Administration (FDA) for GOKnee3D, a magnetic resonance imaging (MRI) application that reduces the time required to perform knee diagnostics. Also, 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. Also, the latest MRI technology -3T MRI uses a magnetic field stronger than any other MRI technology, producing high details that allows scanning of orthopedic disorders and conditions, including bone bruises and spinal conditions.

Regional Dynamics

Regional segmentation of the global orthopedic medical imaging market by Coherent Market Insights comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in the global orthopedic medical imaging market over the forecast period. Growth in the regional market is attributed to adoption of innovative systems in the medical settings. 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.

The orthopedic medical imaging market in Europe is expected to witness high growth rate over the forecast period, owing increasing adoption of novel imaging systems and rising awareness to improve imaging, diagnosis, and patient care. 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. Also, increasing incidence of bone injuries caused due to trauma and sports are major factors to accelerate growth of the orthopedic medical imaging market in the region. 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.

Competitive Analysis

New product launches of novel medical imaging systems by key players for diagnosis and treatment are expected to aid in fuelling demand for these systems. For instance, Carestream received 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.

Key players operating in the global orthopedic medical imaging market include GE Healthcare, Philips Healthcare, Siemens Healthineers, Toshiba Medical Systems Corporation, Hitachi Corporation, EOS Imaging, Planmed OY, Esaote SpA, Carestream Health, and Fujifilm Holdings Corporation.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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