X-ray Market By Technology (Digital Imaging, Analog Imaging), By Portability (Stationary, Mobile), By End user (Hospitals, Diagnostic Imaging centers, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The X-ray Market was valued for $13,373.58 million in 2022 and is estimated to reach $24,918.23 million by 2032, exhibiting a CAGR of 6.4% from 2023 to 2032. X-ray, also known as radiography, is a diagnostic imaging technique that utilizes electromagnetic radiation to produce detailed images of the internal structures of the human body. X-rays are a form of high-energy radiation that can penetrate through soft tissues, however, are absorbed by denser materials such as bones and organs. X-ray imaging is widely used in medical diagnostics to detect and diagnose various conditions, including fractures, infections, tumors, lung diseases, and dental problems. It is a non-invasive and relatively quick imaging method, making it valuable for routine screenings, emergency assessments, and follow-up evaluations.
The major factors driving the growth of the global X-ray market are the development of advanced X-ray systems and surge in adoption of digital technologies in healthcare. In addition, rise in prevalence of chronic diseases such as cardiovascular diseases, respiratory disorders, musculoskeletal disorders, and cancer boost the demand for advanced diagnostic imaging system for accurate diagnosis and treatment, thus driving the market growth. For instance, according to the World Health Organization (WHO) 2022, about 1.71 billion people worldwide suffer from musculoskeletal disorder.
Moreover, X-ray systems have revolutionized the way healthcare professionals diagnose and treat these conditions. They offer several advantages over traditional film-based X-rays, such as the ability to produce high-quality images quickly and with lower radiation exposure. This allows professionals to diagnose and treat diseases more effectively, often at an earlier stage when they are easier to manage, thus driving the growth of the market. Furthermore, technological advancements have led to the development of more compact and portable X-ray system, which propel the market growth.
However, one of the major restraints in the adoption of X-ray imagining systems is the high initial cost associated with purchasing and installing these systems. In addition, these systems require maintenance that increases the maintenance cost of the device, thus restraining the growth of market. Moreover, increase in burden of chronic diseases, surge in adoption of digital X-rays system, and technological advancements are expected to offer lucrative opportunities for the growth of the global X-ray market during the forecast period.
The X-ray market is segmented into technology, portability, end user, and region. By technology, the market is categorized into digital imaging and analog imaging. On the basis of portability, it is segregated into stationary and mobile. Depending on the end user, it is fragmented into hospitals, diagnostic imaging centers, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The key players operating in the X-ray market are Koninklijke Philips N.V. , Shimadzu Corporation., Siemens, Hologic Inc., Mindray Medical International Limited, Onex Corporation, Canon Medical Systems Corporation ,General Electric, Fujifilm Holdings Corporation, Allengers Medical System Limited. The key players have adopted strategies such as product launch, product approval, agreement, innovation, and partnership to enhance their product portfolio.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the x-ray market analysis from 2022 to 2032 to identify the prevailing x-ray market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the x-ray market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global x-ray market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy TechnologyDigital Imaging
Analog Imaging
By PortabilityStationary
Mobile
By End userHospitals
Diagnostic Imaging centers
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Allengers Medical System Limited
CANON MEDICAL SYSTEMS CORPORATION
Fujifilm Holdings Corporation
General Electric
Hologic Inc.
Koninklijke Philips N.V.
Mindray Medical International Limited.
Onex Corporation
Shimadzu Corporation.
Siemens
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