SPI Medical Imaging: Vendor Financials Q1 2024 – Trials and Transitions

For many vendors, the last few years have been something of a blessing. The post-pandemic bounce, pent-up demand from the supply chain crisis of the early 2020s, and the inflation seen across many regions, resulted in bulging order books and rising prices. However, not all good things last forever, and the favourable market conditions that many vendors have benefited from were always destined to come to an end.

The strong performance from most vendors in Q1 2023 was inevitably a tough act to follow, and Q1 2024 was by no means a disaster, but this quarter’s financial reports may indicate that the tide is turning. The medical imaging market is entering a transitional phase, and conditions are growing less favourable.