Medical X-ray Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Medical X-ray Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Medical X-ray Market

The Medical X-ray Market size was valued at USD 518.46 billion in 2023, and the market is now projected to grow from USD 542.21 billion in 2024 to USD 886.80 billion by 2032, exhibiting a CAGR of 6.3% during the forecast period of 2023-2030.

The COVID-19 disrupted the supply chain management badly and hampered the Medical X-ray Market Growth, along with other industries. This has worsen the situation and market has seen the decline in the number of radiology practices in 2020. Healthcare sector was heavily pressurised as they have to follow protocols along with treating the ill. This sector have imposed limit on the number of patients, so that they could serve properly with lesser risk of virus, and trying to give other patients at-home medical guidance, this has reduce the demand for imaging services. The post-pandemic was little bit of relaxing for the market as the number of elective procedures increases, adoption of x-ray systems were growing.

Healthcare sector is witnessing growing cases of chronic diseases, this to market expansion in diagnostic imaging tests, increasing the Medical X-ray Market Share. According to the U.S. healthcare sector’s report there are around 65 million people worldwide suffer from COPD, and 18.2 million U.S. adults have coronary artery diseases, these disease need x-ray for diagnosis. The pain point of the disease spreading is age, and its related disorders such as osteoporosis , which has affected over 200 million people all around the globe, and very common among the elderly people, specially in countries like Italy, Japan, and Germany, where the elderly population is high. Between April 2021 andmarch 2022, U.K. reported 1.82 million , X-ray tests.

The digital world is full of surprises, and healthcare sector is one the leading sector to keep itself updated with new technologies. One of them is digital radiography. This digital shift from analog is offering lower radiation doses, faster results, more detailed images, and easy image sharing and hospitals are increasingly installing digital x-ray systems along with general clinics. In 2021, Bioinformatics Inc, published a study that 88% of mobile x-ray units in U.S. hospitals use digital technology, while only 12% use analog or CR cassettes.

Comprehensive Analysis of Medical X-ray Market

The Medical X-ray Market and Healthcare industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated By Product Type Analysis, By Technology Analysis, By Application Analysis, By End-user Analysis. The types of products include; Static, & Dynamic, by type of technology; Digital, & CR/Analog, by application type include; Dental, Veterinary, Cardiovascular, Oncology, & Others, and by type of end-user include; Hospitals & Clinics, Diagnostic Centers & Others.

In 2023, Asia Pacific marked its dominant position at USD 5.28 billion and the government initiatives are leading the region’s market expansion by developing digitally advanced and portable medical x-ray systems. Many key players are taking initiatives for mergers and acquisitions, to offer AI-powered x-ray systems, and all this is to cater the rising demand for early diagnosis of diseases. In February 2021, FUJJIFILM Holdings Corporation acquired Hitachi Ltd. this acquisition resulted the imaging diagnostic related business to expand its product portfolio by combining CT, MRI, X-ray, PACS, endoscopy and ultrasound systems.

The top players in the market play a crucial role in the Healthcare industry assuring industrial prospectus growth and setting market standards. These players include, Carestream Health (U.S.), GE Healthcare (U.S.), Koninklijke Philips N.V. (Netherlands),CANON MEDICAL SYSTEMS CORPORATION (Japan), FUJIFILM Holdings Corporation (Japan), Siemens Healthcare GmbH (Germany), Shimadzu Corporation (Japan), SAMSUNG ELECTRONICS CO., LTD. (South Korea), these market players provide a level-playing competitive landscape.

May 2022-Siemens Healthcare GmbH and Penta Hospitals have accounted partnership and their goal is to provide the services to private project- Next Generation Hospital Bory in Bratislava. They both are coming together to enhance the quality of healthcare with their accurate medicinal and digital health solutions. Their services are, computed tomography, advanced therapies, MRI, X-ray, molecular imaging, and nuclear medicine devices.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 6.0% from 2024-2032

Unit Value (USD Billion)

Segmentation By Product Type

Static

Dynamic

By Technology

Digital

CR/Analog

By Application

Dental

Veterinary

Cardiovascular

Oncology

Others

By End-user

Hospitals & Clinics

Diagnostic Centers & Others

By Geography

North America (By Product Type, By Technology, By Application, By End-user, and By Country)

- U.S. (By Technology)

- Canada (By Technology)

Europe (By Product Type, By Technology, By Application, By End-user, and By Country)

- U.K. (By Technology)

- Germany (By Technology)

- France (By Technology)

- Italy (By Technology)

- Spain (By Technology)

- Scandinavia (By Technology)

- Rest of Europe (By Technology)

Asia Pacific (By Product Type, By Technology, By Application, By End-user, and By Country)

- China (By Technology)

- Japan (By Technology)

- India (By Technology)

- Australia (By Technology)

- Southeast Asia (By Technology)

- Rest of Asia Pacific (By Technology)

Latin America (By Product Type, By Technology, By Application, By End-user, and By Country)

- Brazil (By Technology)

- Mexico (By Technology)

- Rest of Latin America (By Technology)

Middle East & Africa (By Product Type, By Technology, By Application, By End-user, and By Country)

- GCC (By Technology)

- South Africa (By Technology)

- Rest of MEA (By Technology)


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