Technavio market research analysts forecast the global orthopedic medical imaging market to grow at a CAGR of more than 5% during the forecast period, according to their latest report.
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Technavio has published a new report on the global orthopedic medical imaging market from 2017-2021. (Graphic: Business Wire)
The report has further categorized the global orthopedic medical imaging market into two types, based on product type (X-ray systems, CT scanners, MRI scanners, ultrasound systems, and nuclear imaging systems) and geography (the Americas, EMEA, and APAC).
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Technavio analysts highlight the following three drivers that are contributing to the growth of the global orthopedic medical imaging market:
- Increasing incidence of orthopedic diseases and bone injuries
- Increasing demand for 3D medical imaging equipment
- Reimbursement penalties causing increased adoption of advanced imaging equipment
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Increasing incidence of orthopedic diseases and bone injuries
There is a rise in the occurrence of many orthopedic diseases and bone injuries such as arthritis, osteoarthritis, rheumatoid arthritis, osteoporosis, and serious limb trauma. In the US, in 2017, 54.4 million adults had arthritis according to the CDC and the number is expected to reach approximately 60 million by 2025. Around 75 million people across the world had rheumatoid arthritis in 2016. In the US, in 2014, approximately 16.95% of adults above the age of 50 had osteoporosis and low bone mass.
According to Gaurav Mohindru, a lead analyst at Technavio for medical imaging research, "More than half of all serious limb trauma patients in developed countries who require hospitalization are hurt by falls. One-fifth are injured in road traffic accidents and a similar proportion from the use of machinery and tools. To assess the patient's condition in case of such orthopedic diseases and bone injuries medical imaging is required. This is expected to drive the orthopedic medical imaging market during the forecast period."
Increasing demand for 3D medical imaging equipment
The global orthopedic medical imaging market is growing due to technological advances and product innovations. When compared to other imaging modalities such as conventional fluoroscopy or X-rays, 3D imaging can enhance orthopedic care by improving the examination of bone detail and implant position. Medical imaging has been revolutionized due to the emergence of 3D holographic imaging.
OnSight 3D Extremity System software offers high-quality images when compared to traditional CT images by increasing the contrast of soft tissue and reducing the visibility of metal artifacts. Many key vendors have incorporated this technology into their products after realizing its importance. For instance, Siemens Healthineers launched a mobile C-arm, which is called Arcadis Orbic 3D.
Reimbursement penalties causing increased adoption of advanced imaging equipment
There has been a reduction in the reimbursements for several diagnostic medical imaging procedures that use film and cassette-based technology and CR X-rays across the globe. When compared to film and cassette-based technology, the X-rays have advanced digital technology. In contrast with film and cassette-based technology, the digital X-ray systems are more accurate, fast, and convenient.
"The US Congress passed the Consolidated Appropriations Act that included a new public health policy, which has revised its policies to incentivize users to switch from film and cassette-based radiography systems to fully digital X-ray systems. In countries such as France, if the equipment is more than five years old, the reimbursements are reduced by half. Regulations in countries such as Romania and Bulgaria prevent hospitals from purchasing old equipment using loans provided by the state. Such reimbursement penalties are increasing the adoption of technologically advanced imaging equipment," says Gaurav
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