X-ray Machine Manufacturing Market to Perceive Exponential Growth at CAGR 6.8% Driven By SIEMENS AG, GE HEALTHCARE, PHILIPS HEALTHCARE, FUJIFILM HOLDINGS CORPORATION, CANON, SHIMADZU CORPORATION, TOSHIBA MEDICAL SYSTEM

The global X-ray machine manufacturing market is expected to register a CAGR of 6.8% over the forecast period of 2018-2023. The scope of the market is limited to the stand along X-ray products offered by various vendors in the market.
The growth of the X-ray machine manufacturing market is significantly impacted by the continuous digitalization of X-ray systems and increasing healthcare investments in emerging regions. Increase in public and private funding for health insurance and expanding patient access to medical services are driving the demand for various medical devices, thereby influencing the demand for X-ray machines. Rising security concerns related to consecutive threat and activities, such as illegal arms shipping and drug trafficking, are other key factors driving the X-ray security screening systems, thereby contributing to the higher adoption rate of X-ray machines.

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End-user Vertical Overview
Hospitals are adopting new procedures like trans-catheter aortic valve implantation (TAVI), where these procedures are performed using high-end mobile X-ray equipment. While under transportation, cargo containers represent the largest area of concern, in terms of vulnerability and security, as container shipping systems are likely to be targets of terrorist activities. With a huge global inventory of ports, securing and inspecting all these containers is a challenging task. The potential threat of smuggling of radiological bombs, weapons of mass destruction, transportation of terrorist operatives, and conventional explosive devices, will generate demand for X-ray screening systems, thereby increases the overall demand for X-ray machines.

Key Developments
• May 2017: GE Healthcare and Partners Healthcare entered a 10-year collaboration to strategically validate, develop, and integrate deep learning technology across the entire product line related to patient care.
• April 2017: GE Healthcare completed the acquisition of Asymptote. This acquisition is expected to strengthen the company’s cell therapy portfolio, with a suite of technologies for the cryopreservation of cellular materials.

The major players include –
SIEMENS AG, GE HEALTHCARE, PHILIPS HEALTHCARE, FUJIFILM HOLDINGS CORPORATION, CANON, INC., SHIMADZU CORPORATION, TOSHIBA MEDICAL SYSTEMS CORPORATION, HITACHI MEDICAL CORPORATION, and HOLOGIC, INC., amongst other.

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Stationary X-ray Machines to Hold the Largest Share
Stationary X-ray machines have been in use for a long time, since the discovery of the first X-ray-based imaging and diagnostic system in both developed and emerging economies. The demand for stationary X-ray machines is impacted by the increasing adoption rate of portable systems, particularly handheld X-ray systems. Portable systems are expected to witness a high growth rate during the forecast period and are expected to outperform the stationary X-ray segment by 2022. There has been an increase in installations of various portable systems, particularly mobile systems, in hospitals, professional centers, and diagnostic laboratories, as these systems offer mobility and ease of use, over stationary systems, particularly for bedside imaging or home health care.

Regional Analysis of the Market
North America accounted for the largest share while Asia-Pacific is expected to witness the fastest growth. The demand in North America is mainly driven by the rising occurrence of various disorders, along with high awareness and affordability among people. Well-established healthcare infrastructure in the region and severe security regulations and measures adopted by the government increase the demand for X-ray machines. The growth of the market in the Asia-Pacific region can be attributed to the presence of geriatric population suffering from a range of disorders that require urgent diagnosis and effective treatments. The Middle East & African region is expected to witness considerable growth during the forecast period. The extensive investments in internal and homeland security technologies are likely to impact the demand for X-ray machines.

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This release was published on openPR.