Non Destructive Medical Technologies Market Scope
Non Destructive Medical techniques are used for the evaluation of defects in various materials/components and the characterization of material properties. The use of NDT techniques leads to a better understanding of material behavior and this in turn leads to increased confidence in the material being used Non-Destructive testing may be defined as those testing methods in which the material under test is not destroyed or to say that the future use of the material under test is not impaired. Developments in NDT instruments are driven by the growing requirement in developing control of manufacturing processes and preserving a uniform quality level of the product.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | General Electric (United States), Olympus Corporation (Japan), MISTRAS Group (United States), Nikon Metrology (Belgium), Ashtead Technology (Scotland), Fujifilm Corporation (Japan), Bureau Veritas SA (France), Zetec, Inc. (United States), T.D. Williamson Inc (United States) and Fischer Technology Inc (United States) |
CAGR | % |
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Non Destructive Medical Technologies market throughout the predicted period.
General Electric (United States), Olympus Corporation (Japan), MISTRAS Group (United States), Nikon Metrology (Belgium), Ashtead Technology (Scotland), Fujifilm Corporation (Japan), Bureau Veritas SA (France), Zetec, Inc. (United States), T.D. Williamson Inc (United States) and Fischer Technology Inc (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are NDT Global GmbH (Germany), Acuren (United States) and LynX Inspection (Canada).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Non Destructive Medical Technologies market by Type and Region with country level break-up.
On the basis of geography, the market of Non Destructive Medical Technologies has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2021.
Market Leaders and their expansionary development strategies
On 7th August 2020, Olympus Corporation announced it has signed a definitive agreement to acquire Arc Medical Design Limited a subsidiary of Norgine B.V. The acquisition underscores Olympus’ commitment to expanding its offering in gastrointestinal therapeutic devices and the development of advanced colonoscopy tools through M&A opportunities as well as through research and development with the overarching goal of improving early detection and treatment of colorectal cancer (CRC).
On 11th Nov 2021, Olympus Corporation a global leader in medical technology, has announced the establishment of Olympus Innovation Ventures to invest in pioneering startups with innovative technologies that improve clinical outcomes, reduce healthcare costs and enhance the quality of life for patients. The new fund expands upon Olympus' strategy to strengthen endoscopy and pioneer next-generation tools and procedures for minimally invasive surgery.
Non Destructive Medical Technologies Market Dynamics:
Attributes | Details |
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Trends Influencing Market | - Non-Destructive Testing Market Trends
- Reluctance toward Adopting Non Destructive Medical Technologies
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Key Restraints | - Lack of Non Destructive Medical Technologies Skilled Personnel
- High Equipment and Maintenance Costs
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Challenges | - Growing Use of Drones for Non-Destructive Testing
- Integration of NDT Equipment with Asset Performance Management Software
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Market Opportunities | - Growing Technological Advancements in Non Destructive Medical Technologies
- New Developments Infrastructural Expansion Worldwide
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Key Target Audience
Non Destructive Medical Technologies Producers, Non Destructive Medical Technologies Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others