Global Medical X-Ray Market to Cross $ 16.5 Bn by 2025

February 26, 2020


According to the research report titled ‘Medical X-ray Market Size By Type (Digital, Analog), By Component (Detectors {Flat Panel Detectors [Indirect, Direct], Line Scan Detectors, Computed Radiography Detectors, Charge Coupled Device Detectors}, Generators, Work Stations, Software), By Technology (Film-based Radiography, Computed Radiography [CR], Direct Radiography [DR]), By Portability (Fixed, Portable), By Application (Dental {Intra-oral, Extra-oral}, Veterinary {Oncology, Orthopedics, Cardiology, Neurology}, Mammography, Chest, Cardiovascular, Orthopedics), By End-use (Hospitals, Diagnostic Centers) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, China, India, Japan, Brazil, Mexico, South Africa, UAE), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the global medical X-ray market is expected to cross USD 16.5 billion by the year 2025.
 

According to the report, there have been technological improvements in detector-based digital radiography technology which utilizes x-ray source and numerous types of flat panel detectors to develop high quality radiographs. These advancements have led to development of innovative medical X-ray devices which in turn is driving the market growth. X-ray detectors are available in portable versions as they are compact and lightweight. Adding to this, introduction of favorable reimbursement policies by government for medical procedures and x-ray diagnosis is also stimulating the industry outlook. However, adverse effects of X-ray radiations may hinder the overall market growth.
 

As per type, the report states that the analog systems segment is expected to grow with a CAGR of 4.5% during the period of 2019-2025. Rising adoption of analog X-ray devices in emerging economies owing to their cost-effectiveness is fueling the segmental growth.
 

In terms of component, detectors segment held 30% share of medical X-ray market in the year 2018 and is presumed to expand significantly during the forecast period. Growing demand for advanced detectors with superior quality check standards is contributing towards the popularity of X-ray detectors across the globe.
 

Speaking of technology, the report cites that computed radiography segment was worth USD 5 billion in the year 2018 and will witness consistent growth in the subsequent years. The growth is attributed to development of innovative digital imaging modalities and various product launches by market majors.
 

By portability, fixed medical X-ray systems segment held 55% share in the year 2018, primarily driven by surging federal investments towards the installation of advanced diagnostic equipment across various healthcare settings.  
 

Based on the application spectrum, the report states that dental application segment was worth USD 1.4 billion in the year 2018. Increased pervasiveness of dental disorders such as plaque, dental caries, gingival disease, and periodontitis is favoring the market outlook. Additionally, availability of technologically advanced X-ray systems to identify such disorders is facilitating the business scenario.
 

Citing the end-use landscape, medical X-ray market from hospitals segment is expected to surpass USD 7 billion by the year 2025. Availability of advanced healthcare infrastructure and skilled medical professionals are boosting the segmental growth.
 

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Considering the geographical outlook, the report cites that North America medical X-ray industry is expected to grow with a CAGR of 5% between 2019-2025. Escalating healthcare expenditure, surging investments in medical field, and availability of advanced healthcare infrastructure are augmenting the regional share.
 

The prominent companies operating in the medical X-ray market are Varian Medical Systems, Inc., Siemens Healthcare, Shimadzu Corporation, Samsung, Philips Healthcare, PerkinElmer, Inc., Neusoft Medical Systems, Midmark Corporation, Konica Minolta, Hologic, Hitachi Medical Corp., GE Healthcare, Fujifilm Medical Corporation, Densply Sirona, Inc., Carestream Health, Canon Medical Systems, Allengers Medical, and Agfa Healthcare.


Frequently Asked Questions (FAQ) :

According to the report, there have been technological improvements in detector-based digital radiography technology which utilizes x-ray source and numerous types of flat panel detectors to develop high quality radiographs. These advancements have led to development of innovative medical X-ray devices which in turn is driving the market growth. X-ray detectors are available in portable versions as they are compact and lightweight. Adding to this, introduction of favorable reimbursement policies by government for medical procedures and x-ray diagnosis is also stimulating the industry outlook.
The report states that the analog systems segment is expected to grow with a CAGR of 4.5% during the period of 2019-2025. Rising adoption of analog X-ray devices in emerging economies owing to their cost-effectiveness is fueling the segmental growth.
The report cites that North America medical X-ray industry is expected to grow with a CAGR of 5% between 2019-2025. Escalating healthcare expenditure, surging investments in medical field, and availability of advanced healthcare infrastructure are augmenting the regional share.
The prominent companies operating in the medical X-ray market are Varian Medical Systems, Inc., Siemens Healthcare, Shimadzu Corporation, Samsung, Philips Healthcare, PerkinElmer, Inc., Neusoft Medical Systems, Midmark Corporation, Konica Minolta, Hologic, Hitachi Medical Corp., GE Healthcare, Fujifilm Medical Corporation, Densply Sirona, Inc., Carestream Health, Canon Medical Systems, Allengers Medical, and Agfa Healthcare.