Monday, 8 March 2021

Orthopedic Medical Imaging Market Size, Trends, Shares, Insights and Forecast – 2018-2026

 

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.

Asia pacific orthopedic medical imaging marke is also expected to show significant growth, owing to product launches by key players in the region. For instance, in August 2018, Kiran Medical Systems, the Radiology Division of Trivitron Healthcare, has launched 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.

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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.

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.

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Key Development in the 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.

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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