Orthopedic Imaging Equipment Market To Reach $6.95 Billion By 2030

Orthopedic Imaging Equipment Market Growth & Trends

The global orthopedic imaging equipment market size is anticipated to reach USD 6.95 billion by 2030, registering a CAGR of 5.10% from 2024 to 2030. The major factors contributing to market growth include increasing cases of orthopedic disorders and injuries, technological advancements, and growing awareness as well as adoption of orthopedic imaging equipment. For instance, according to an article published by Osteoporosis Canada, one out of every three women and one out of every five men will experience an osteoporotic fracture during their lifetime. In addition, it stated that over 80% of fractures in people aged 50 and above are caused by osteoporosis.

These techniques help accurately identify and classify fractures, which, in turn, guides the treatment plan. Each modality has its unique features. X-ray is the most commonly used orthopedic imaging technique. MRI provides excellent visualization of soft tissues, making it ideal for assessing ligaments, tendons, cartilage, and other structures surrounding joints. CT provides superior imaging of bone structures, as it can easily identify bone overlap between images. Ultrasound imaging uses high-frequency sound waves to produce real-time images.

Technological advancements, such as handheld ultrasound, improved resolution, and integration of AI with imaging modalities, are expected to boost market growth. For instance, in February 2023, Clarius Mobile Health announced that its MSK AI model had been granted FDA approval. The model incorporates advanced artificial intelligence (AI) technology to identify and measure tendons in the foot, ankle, and knee with high precision. Clarius Mobile Health is a renowned provider of high-definition handheld ultrasound systems.

Furthermore, companies operating in the market are working to improve their product offerings by upgrading their products, leveraging important cooperative drives, as well as considering acquisitions and government approvals these efforts are aimed at expanding their customer base and gaining a larger share of the market. For instance, in January 2024, Orthofix Medical Inc, a company specializing in spine and orthopedics, entered into a distribution agreement with MRIguidance to offer BoneMRI imaging software in the U.S.

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Orthopedic Imaging Equipment Market Report Highlights

• In 2023, the X-ray segment dominated the market and accounted for a revenue share of 32.87%. The CT segment is anticipated to register at the fastest CAGR from 2024 to 2030

• Based on indications, the trauma cases segment held the largest market share of around 21.20% in 2023. The arthritis segment is expected to grow at the fastest CAGR from 2024 to 2030

• The hospitals end-use segment held the largest share of 46.12% of the overall revenue in 2023. The diagnostic imaging centers segment is expected to grow at the fastest CAGR over the forecast period

• North America was the dominant regional market and accounted for the largest revenue share of 34.4% in 2023

Orthopedic Imaging Equipment Market Segmentation

Grand View Research has segmented the global orthopedic imaging equipment market on the basis of modality, indication, end-use, and region:

Orthopedic Imaging Equipment Modality Outlook (Revenue USD Million, 2018 - 2030)

• X-ray

• CT

• MRI

• Ultrasound

• Nuclear Imaging

Orthopedic Imaging Equipment Indication Outlook (Revenue USD Million, 2018 - 2030)

• Trauma Cases

• Sport Injuries

• Spinal Injuries

• Arthritis

• Bone Disorders

• Musculoskeletal Cancer

• Muscle Atrophy

• Others

Orthopedic Imaging Equipment End-use Outlook (Revenue USD Million, 2018 - 2030)

• Hospitals

• Diagnostic Imaging Centers

• Others

Orthopedic Imaging Equipment Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Orthopedic Imaging Equipment Market

• GE Healthcare

• Philips Healthcare

• Siemens Healthineers

• Canon Medical Systems Corporation

• Fujifilm Healthcare Solutions

• Esaote

• Carestream Health

• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

• United Imaging Healthcare Co.

• Shimadzu Corporation

• Hologic, Inc.