Medical X Ray Market
Medical X-Ray Market Forecasts to 2030 - Global Analysis By Type (Chest X-rays, Lungs X-rays, Kidney, Ureter, and Bladder X-ray, Teeth and bones X-rays, Standard Computed Tomography, Abdomen X-rays and Other Types), Portability, Technology, Application, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $14.5 BN |
|
Projected Year Value (2030) |
US $24.6 BN |
|
CAGR (2023 - 2030) |
7.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Medical X-Ray Market is accounted for $14.5 billion in 2023 and is expected to reach $24.6 billion by 2030 growing at a CAGR of 7.8% during the forecast period. Medical X-ray refers to a form of electromagnetic radiation used in diagnostic imaging to create detailed images of the inside of the body. X-rays are produced by directing a controlled amount of radiation through the body onto a specialized detector. Dense tissues, such as bones, absorb more radiation and appear white on the resulting X-ray images, while softer tissues allow more radiation to pass through, appearing as varying shades of gray. X-rays are commonly used to diagnose fractures, infections, tumors, and other conditions by providing detailed images of internal structures like bones, organs, and tissues. They are valuable tools for healthcare professionals in determining and treating various medical conditions.
According to research study published by Bioinformatics Inc., in 2021, the IMV’s 2021 survey concluded that about 88.0% of mobile X-ray units installed in the U.S. hospital radiology departments use digital technology and 12.0% use CR cassettes/analog technology.
Market Dynamics:
Driver:
Growing healthcare expenditure
As healthcare spending continues to rise in many regions, there's a parallel increase in investments in advanced medical equipment, including X-ray machines and imaging technologies. Higher healthcare spending enables the implementation of advanced imaging techniques, such as computed tomography (CT) and magnetic resonance imaging (MRI), which provide detailed anatomical information. Ultimately, these advancements contribute to a more efficient and effective healthcare system.
Restraint:
Increasing risks of high radiation
The declining patient preference for X-rays considering their risks of harming the body cells may pose as a constraint for the industry progress. X-rays have high energy as compared to light waves, and thus offer high-energy radiation, subsequently increasing the burden of cancer. Hence the rising number of performed x-ray tests may hinder the market share. X-rays also lead to ionizing radiations resulting in pre-and postnatal irradiation, bringing adverse health impacts for children.
Opportunity:
Focus on early diagnosis
Increased funding allows for the development and deployment of advanced X-ray technologies, such as digital radiography and fluoroscopy, which offer higher image quality and lower radiation doses. These advancements facilitate the early detection of diseases and conditions, enabling prompt intervention and improved patient outcomes. Early detection and diagnosis of diseases are becoming a healthcare priority. X-rays play a crucial role in enabling early identification and treatment of various medical conditions, contributing to market growth.
Threat:
Lack of real-time imaging
Traditional X-ray imaging produces static images, which means it cannot capture real-time movements or dynamic processes within the body. This limitation makes it less suitable for assessing certain conditions that require real-time monitoring, such as blood flow or joint mobility. However, X-rays may not provide sufficient information for diagnosing certain conditions, such as early-stage cancers or subtle fractures. These are the factors hampering the growth of the market.
Covid-19 Impact:
The pandemic has led to a higher demand for chest X-rays as they are commonly used to assess lung involvement in COVID-19 patients. Hospitals and healthcare facilities have experienced an increased workload in conducting X-rays for suspected or confirmed cases. The pandemic has prompted research and development efforts to improve X-ray technology and techniques related to COVID-19 diagnosis and monitoring. Innovations such as portable X-ray devices and AI-based image analysis have been explored to enhance efficiency and accuracy.
The chest x-rays segment is expected to be the largest during the forecast period
The chest x-rays segment is expected to be the largest during the forecast period. Chest X-rays are relatively quick to perform and non-invasive, making them a readily available diagnostic tool. The procedure is generally well-tolerated by patients and does not require any injections or contrast agents. X-rays are more cost-effective compared to other imaging modalities such as computed tomography scans or magnetic resonance imaging.
The fixed portability segment is expected to have the highest CAGR during the forecast period
The fixed portability segment is expected to have the highest CAGR during the forecast period. The rising number of government investments for installing modern diagnostic equipment has spurred the adoption of fixed x-ray systems as they can be accessed in a wide variety of sizes and types in several high-end scientific applications. The rising popularity of mammograms and dental x-rays for facilitating the imaging of skull, chest, extremities, spine, and abdomen will also add to the market outlook.
Region with largest share:
North America is projected to hold the largest market share during the forecast period due to rising emergency patient visits across U.S. healthcare centers requiring diagnostic x-rays and favorable reimbursement environment by government healthcare programs in the U.S. for digital x-ray systems. The growing number of private and public investments has propelled the rising awareness regarding the advantages of early diagnosis. The presence of favorable demographic trends in the region will also compliment the industry landscape.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period due to the rising prevalence of chronic diseases such as cancer, cardiovascular diseases, and others. The increase in adoption of digital X-ray system over traditional systems by hospitals and private clinics is expected to boost the growth of the market. Therefore, the adoption of x-rays is beneficial for the accurate diagnosis and treatment of such disorders. This is anticipated to drive the market growth in the region.
Key players in the market
Some of the key players in Medical X-Ray market include Hitachi, Ltd., Hologic, Inc., Allengers Medical Systems Limited, Eurocolumbus s.r.l., Varian Medical Systems, Inc., Vieworks Co., Ltd., Koninklijke Philips N.V., Canon Medical Systems Corporation, Carestream Health, Inc., Shimadzu Corporation, Fujifilm Holdings Corporation, Ziehm Imaging GmbH, Analogic Corporation, Samsung Medison Co., Ltd., Agfa-Gevaert N.V., BMI Biomedical International s.r.l., Control-X Medical GmbH, Siemens Healthcare Private Limited and Poskom Co., Ltd.
Key Developments:
In April 2023, Shimadzu Corporation, a biotechnology research company, released the EZy-Rad Pro radiography system for clinics. It improved to ensure the system can be easily operated by healthcare personnel. In addition, Shimadzu will also help reduce the burden on patients by shortening examination times.
In July 2022, Siemens Healthcare GmbH launched its Multix Impact E X-ray system at European Congress of Radiology (ECR) in Vienna. The launch of the system broadened access to healthcare care at an affordable cost.
In March 2022, NeuroLogica Corp., the U.S. subsidiary of SAMSUNG ELECTRONICS CO., LTD., announced that the company’s digital radiography and ultrasound business would operate under a new brand called Boston Imaging to provide innovative medical devices to the market.
Types Covered:
• Chest X-rays
• Lungs X-rays
• Kidney, Ureter, and Bladder X-ray
• Teeth and bones X-rays
• Standard Computed Tomography
• Abdomen X-rays
• Other Types
Portability Covered:
• Portable Systems
• Fixed Systems
Technologies Covered:
• Computed Radiography
• Direct Radiography
• Film-based Radiography
Applications Covered:
• Veterinary
• Dental
• Mammography
• Chest
• Other Applications
End Users Covered:
• Diagnostic Centers
• Hospital
• Research Laboratories
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Medical X-Ray Market, By Type
5.1 Introduction
5.2 Chest X-rays
5.3 Lungs X-rays
5.4 Kidney, Ureter, and Bladder X-ray
5.5 Teeth and bones X-rays
5.6 Standard Computed Tomography
5.7 Abdomen X-rays
5.8 Other Types
6 Global Medical X-Ray Market, By Portability
6.1 Introduction
6.2 Portable Systems
6.3 Fixed Systems
7 Global Medical X-Ray Market, By Technology
7.1 Introduction
7.2 Computed Radiography
7.3 Direct Radiography
7.4 Film-based Radiography
8 Global Medical X-Ray Market, By Application
8.1 Introduction
8.2 Veterinary
8.2.1 Orthopaedics
8.2.2 Cardiology
8.2.3 Oncology
8.2.4 Neurology
8.3 Dental
8.3.1 Intraoral Imaging
8.3.2 Extraoral Imaging
8.4 Mammography
8.5 Chest
8.6 Other Applications
9 Global Medical X-Ray Market, By End User
9.1 Introduction
9.2 Diagnostic Centers
9.3 Hospital
9.4 Research Laboratories
9.5 Other End Users
10 Global Medical X-Ray Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Hitachi, Ltd.
12.2 Hologic, Inc.
12.3 Allengers Medical Systems Limited
12.4 Eurocolumbus s.r.l.
12.5 Varian Medical Systems, Inc.
12.6 Vieworks Co., Ltd.
12.7 Koninklijke Philips N.V.
12.8 Canon Medical Systems Corporation
12.9 Carestream Health, Inc.
12.10 Shimadzu Corporation
12.11 Fujifilm Holdings Corporation
12.12 Ziehm Imaging GmbH
12.13 Analogic Corporation
12.14 Samsung Medison Co., Ltd.
12.15 Agfa-Gevaert N.V.
12.16 BMI Biomedical International s.r.l.
12.17 Control-X Medical GmbH
12.18 Siemens Healthcare Private Limited
12.19 Poskom Co., Ltd.
List of Tables
1 Global Medical X-Ray Market Outlook, By Region (2021-2030) ($MN)
2 Global Medical X-Ray Market Outlook, By Type (2021-2030) ($MN)
3 Global Medical X-Ray Market Outlook, By Chest X-rays (2021-2030) ($MN)
4 Global Medical X-Ray Market Outlook, By Lungs X-rays (2021-2030) ($MN)
5 Global Medical X-Ray Market Outlook, By Kidney, Ureter, and Bladder X-ray (2021-2030) ($MN)
6 Global Medical X-Ray Market Outlook, By Teeth and bones X-rays (2021-2030) ($MN)
7 Global Medical X-Ray Market Outlook, By Standard Computed Tomography (2021-2030) ($MN)
8 Global Medical X-Ray Market Outlook, By Abdomen X-rays (2021-2030) ($MN)
9 Global Medical X-Ray Market Outlook, By Other Types (2021-2030) ($MN)
10 Global Medical X-Ray Market Outlook, By Portability (2021-2030) ($MN)
11 Global Medical X-Ray Market Outlook, By Portable Systems (2021-2030) ($MN)
12 Global Medical X-Ray Market Outlook, By Fixed Systems (2021-2030) ($MN)
13 Global Medical X-Ray Market Outlook, By Technology (2021-2030) ($MN)
14 Global Medical X-Ray Market Outlook, By Computed Radiography (2021-2030) ($MN)
15 Global Medical X-Ray Market Outlook, By Direct Radiography (2021-2030) ($MN)
16 Global Medical X-Ray Market Outlook, By Film-based Radiography (2021-2030) ($MN)
17 Global Medical X-Ray Market Outlook, By Application (2021-2030) ($MN)
18 Global Medical X-Ray Market Outlook, By Veterinary (2021-2030) ($MN)
19 Global Medical X-Ray Market Outlook, By Orthopaedics (2021-2030) ($MN)
20 Global Medical X-Ray Market Outlook, By Cardiology (2021-2030) ($MN)
21 Global Medical X-Ray Market Outlook, By Oncology (2021-2030) ($MN)
22 Global Medical X-Ray Market Outlook, By Neurology (2021-2030) ($MN)
23 Global Medical X-Ray Market Outlook, By Dental (2021-2030) ($MN)
24 Global Medical X-Ray Market Outlook, By Intraoral Imaging (2021-2030) ($MN)
25 Global Medical X-Ray Market Outlook, By Extraoral Imaging (2021-2030) ($MN)
26 Global Medical X-Ray Market Outlook, By Mammography (2021-2030) ($MN)
27 Global Medical X-Ray Market Outlook, By Chest (2021-2030) ($MN)
28 Global Medical X-Ray Market Outlook, By Other Applications (2021-2030) ($MN)
29 Global Medical X-Ray Market Outlook, By End User (2021-2030) ($MN)
30 Global Medical X-Ray Market Outlook, By Diagnostic Centers (2021-2030) ($MN)
31 Global Medical X-Ray Market Outlook, By Hospital (2021-2030) ($MN)
32 Global Medical X-Ray Market Outlook, By Research Laboratories (2021-2030) ($MN)
33 Global Medical X-Ray Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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