The global medical imaging equipment services market was valued at approximately US$ 19.9 Bn in 2016 and is projected to register a cumulative annual growth rate (CAGR) of more than 3.0% from 2017 to 2025, according to a new report titled, “Medical Imaging Equipment Services Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”, published by Transparency Market Research (TMR). The report projects that availability of multiplexed and integrated modalities with high throughput is likely to spur the demand for medical imaging equipment services in the upcoming years (2017 to 2025). Rise in the trend of budgeted healthcare systems with improved patient comfort and increase in the demand for higher uptime in the developed markets such a North America and Europe are likely to fuel the growth of the medical imaging equipment services market in these regions. Growing market penetration of refurbished systems to cater to the demand for affordable care and early diagnosis of diseases are expected to boost the growth of the medical imaging equipment services market in Asia Pacific, registering a CAGR of above 4.0% from 2017 to 2025.

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Changing Dynamics towards Value-Based Offerings Causing Intensifies Competition among Service Providers Operating In the Market

According to investor presentation by Alliance HealthCare Services (Tahoe Investment Group Co., Ltd.), more than 98% of the hospitals across the globe outsourced one or more of their clinical services in 2016. Technological upgrades in service offerings are projected to fuel the growth of the medical imaging equipment services market during the forecast period. However, emergence of independent service providers with innovation in technology and solutions and competitive pricing has intensified the competition. By the end of 2017, GE Healthcare registered a nominal increase in its profits as compared to 2016. However, it was partially offset by the pricing pressure on healthcare systems, especially in imaging modalities. These factors are estimated to restrain the growth of the medical imaging equipment services market by the end of 2025.

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