X-ray Tube Market to grow from a market value of USD 2.42 billion to USD 3.3 billion by 2023| Major Vendors - SIEMENS AG, TOSHIBA ELECTRON TUBES & DEVICES CO. LTD, HITACHI LTD, KONINKLIJKE PHILIPS NV, GENERAL ELECTRIC, SHIMADZU CORPORATION, BRAND X-RAY CO

Market Analysis:

North America to Dominate the Market
North America is the largest market for X-ray tubes. Latest technological breakthroughs have assisted the advancement of new X-ray tubes that can make the overall processes more efficient and can significantly improve accuracy in various applications.

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An X-ray tube is a device that produces X-rays when subjected to an electric charge. Increasing technology advancement is one of the primary factors that is driving the growth in demand for X-ray tubes. With the availability of compact systems, X-ray machines are being used in various fields, such as airport security, baggage scanning, metallurgical applications etc. In addition, the increase in medical cases and accidental injuries around the globe is influencing the market’s growth. With an increase in medical cases and diagnostic equipment, the demand for X-ray tubes in medical imaging is growing, which is, in turn, driving the market growth. However, the presence of stringent and strict regulations by FDA, across the globe, for manufacturing and designing X-ray tubes have created additional costs for manufacturers, while becoming a barrier for new entrants. The manufacturing industry is one of the leading end-user industries for X-ray tubes.

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Market Segments:
X-ray Tube Market is segmented by:
1. Type: Rotating Anode Tube, Microfocus X-Ray Tubes
2. Vertical: Manufacturing, Healthcare, Food Industry, Aerospace & Defense Industry, Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• June 2017 - Siemens Healthcare GmbH, a medical technology company, acquired Medicalis Corp., a provider of radiology workflow technology solutions to professional radiology groups, imaging centers, hospitals, and at-risk entities.
• May 2017 - Hitachi partnered with Aso, in order to offer the hospital management improvement support service, which is a consulting service for various medical institutions.
• April 2017 - Toshiba Medical Systems Corporation’s next generation MRI system named Vantage Galan 3T has been installed in the science and technology park named CAIRS at John Hopkins.

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