Global demand for imaging equipment services is expected to rise sharply over the next five years, according to a new report by market research firm Global Industry Analysts (GIA). As the global economic picture begins to improve, a combination of factors is expected to propel the market to a value of $12.35 billion by 2017, GIA said.
The main factors driving growth include an increasing aging population and a growing need for medical imaging procedures, as well as technological advancements, increasing demand for high-end imaging and replacement systems, new clinical applications, and even buyers' increasing preference for refurbished equipment, GIA said.
Other trends boosting demand for medical equipment imaging services include the expanding portfolios of service providers, multivendor services, and demand from the mobile medical imaging equipment sector.
Despite reductions in new equipment orders during the recent recession due to budget cutbacks and the difficulty of obtaining financing, purchases of refurbished equipment have expanded in the U.S. and Europe as providers became more accustomed to its presence in the marketplace, GIA said.
Growth is projected to be strongest in the Asia-Pacific market, at 7% by 2017, followed by strong growth in Latin America and the Middle East. The largest equipment OEMs are expected to benefit most from the new business, GIA said.
