What are the Growth Drivers of Medical X-ray Market ? Top Players - Carestream Health, Shimadzu, Dentsply Sirona, Fujifilm Medical Systems, Canon, GE Healthcare, Hitachi Medical, Midmark, Konica Minolta, PerkinElmer, Hologic, Varian Medical Systems, Sieme
Rising prevalence of cancer, dental problems, cardiovascular diseases and other chronic diseases is the key factor driving medical X-ray market growth. Use of x-ray for detection and treatment of bone related problems as well as other musculoskeletal diseases will favor business growth. Wide applications of medical X-ray systems in disease diagnosis has increased its adoption over the recent years. Furthermore, favorable reimbursement policies to ensure patient access to appropriate and high quality imaging services will boost medical X-ray industry growth.
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Advancements in medical imaging, mainly with respect to computed tomography (CT) technology, has led to rapid growth in x-ray examinations being performed. Most of the imaging departments in hospital are required to computerize information systems wherein images and reports of patients are stored. Moreover, age distribution of patients experiencing x-ray examination has increased among elderly population. Geriatric population susceptible to chronic diseases tend to have a greater number of imaging procedures. Rapidly ageing population will thus foster industry growth over the upcoming years. However, high risk associated with radiation exposure may impede medical x-ray business to certain extent.
Analog systems segment is poised to witness significant CAGR of more than 4.5% during the forecast period. High cost associated with digital systems has increased adoption of analog systems especially in the developing and under-developed economies.
Detectors segment accounted for over USD 3.5 billion in 2018 and is estimated to grow significantly by 2025. Use of X-ray detectors for estimation of dosage and imaging help to verify efficacy of the radiation protection equipment. Rapidly aging population, growing prevalence of diseases and development of reliable, accurate and economical wireless x-ray detectors will spur the segment size over the coming years.
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Portable segment was valued more than 4.5 billion in 2018 owing to its demand for patient monitoring and diagnosis in ICUs, prisons, nursing homes or other places. Portable systems demand for radiological examination of patients in nursing homes has increased in recent years. Increased specificity, improved diagnosis efficiency and other advantages associated with portable systems will further augment the business growth.
Cardiovascular segment is estimated to exceed USD 3 billion by 2025. Segment growth is attributable to growing prevalence of cardiovascular diseases worldwide. Adoption of painless imaging technique such as x-ray to diagnose various cardiac conditions will spur segment size during the analysis timeframe.
Hospitals segment is projected to exhibit around 6.4% CAGR during the forthcoming years. Surge in the number of patient visits in hospital settings along with rise in the number of surgical procedures will drive segment growth. Availability of well-developed infrastructure and skilled healthcare professionals in hospital settings will further upsurge the business growth.
China medical X-ray market held significant revenue share in 2018 and is estimated to witness more than 8% CAGR over the forecast timeframe. Increasing prevalence of chronic diseases and consequent rise in need for diagnosis will drive China medical x-ray industry growth. Growing demand and popularity for digital radiography systems in China along with substantial healthcare expenditure will boost business growth.
Some of the eminent industry players operational in medical X-ray market includes Canon, Carestream Health, Dentsply Sirona, Fujifilm Medical Systems, Shimadzu, GE Healthcare, Midmark Corporation, Hitachi Medical, Konica Minolta, Hologic, Neusoft Medical Systems, PerkinElmer, Siemens, Varian Medical Systems and Philips Healthcare. The business competitors are emphasizing their efforts on strategic alliance, novel product launch and geographic expansion to strengthen their market position. For instance, in December 2016, Konica Minolta launched AeroDR 3 1417HD, a cassette-type digital X-ray system. The newly launched product enables company to extend its current product portfolio and enlarge customer base.
Medical X-ray market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:
Medical X-ray Market, By Type, 2014-2025 (USD Million)
Medical X-ray Market, By Component, 2014-2025 (USD Million)
o Flat Panel Detectors
o Indirect flat panel detectors
o Direct flat panel detectors
o Line Scan Detectors
o Computed Radiography Detectors
o Charge Coupled Device Detectors [CCD]
• Work stations
Medical X-ray Market, By Technology, 2014-2025 (USD Million)
• Film-based radiography
• Computed Radiography [CR]
• Direct Radiography [DR]
Medical X-ray Market, By Portability 2014-2025 (USD Million)
Medical X-ray Market, By Application, 2014-2025 (USD Million)
Medical X-ray Market, By End-use, 2014-2025 (USD Million)
• Diagnostic Centers
The above information is provided for the following regions and countries:
• North America
• Asia Pacific
• Latin America
• Middle East Asia & Africa
o South Africa
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