Industrial X-Ray Inspection Equipment and Imaging Software Market 2019-2023 Ongoing Trend | Growing at Remarkable CAGR of 6.8% with GENERAL ELECTRIC, NORTH STAR IMAGING, YXLON INTERNATIONAL

The global Industrial X-ray inspection equipment and imaging software market is projected to register a CAGR of about 6.8% during 2018 - 2023 (the forecast period). The scope of this report is limited to the solutions that are offered by the major players, including providers of computed tomography and digital radiography. While the regions considered in the scope of the report include North America, Europe, Asia-Pacific, and Rest of the World.

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X-ray inspection is gaining eminence as one of the most promising methods of non-destructive testing (NDT). These systems are also viewed as important screening tools for risk management and quality control, owing to their ability to detect contaminants, defects, and inconsistencies in products. The industrial X-ray inspection systems market is anticipated to scale new heights in the coming years, with the market moving from conventional film-based systems to the innovative and highly advanced digital systems. With rapid progressions in technology, enhanced image quality and throughput, an increase in the rate of adoption in varied industrial applications is expected to be witnessed. However, high cost associated with portable X-ray devices and stringent regulation may hamper the market growth.

Key Developments In The Market
• January 2018 - Nikon Metrology has been chosen to supply the all-important X-ray equipment for checking the quality of the reflow soldering process during production of a new range of power semiconductor devices of IXYS UK Westcode.
• July 2017 - iVario, an innovative, intelligent high-voltage generator, is being brought to market by Comet Industrial X-Ray Modules in July 2017. Based on cutting-edge IoT technology (Internet of Things), iVariou2122 optimizes the use of x-ray sources in non-destructive testing in the automotive industry, aerospace, and security inspection. The launch of the new x-ray generator marks an important milestone in the Group-wide drive to digitalize products and services, and supports the growth strategy of the Comet Group.
• May 2017 - Varex Imaging Corporation had completed the acquisition of the Medical Imaging business of PerkinElmer, Inc. This acquisition was expected to be transformative to the Varex's digital detector operations, enabling the company to increase innovation, leverage its manufacturing scale and expand its cost leadership position.

Major Players:
GENERAL ELECTRIC CO., NORTH STAR IMAGING INC., YXLON INTERNATIONAL, NIKON CORPORATION, COMET GROUP AND NORDSON DAGE. OTHER PLAYERS INCLUDE: SHIMADZU CORPORATION, 3DX-RAY, Du00dcRR NDT GMBH & CO. KG, RIGAKU CORPORATION, VAREX IMAGING CORPORATION, INC. AND TOSHIBA CORPORATION, amongst others.

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Technological Advancements in the Inspection Systems Driving the Growth of X-ray Systems
With rapid advancements in technology, X-ray systems are witnessing a rise in demand. One of the most prominent developments taking place in the electronics industry is the miniaturization of devices. The growing demand for compact-size products is driving the need for industrial x-ray systems, which can offer high resolution, for quality analysis. Such a requirement of high magnification systems can only be met through x-ray sources, which have a minute punctiform X-ray focal spot. This has resulted in the development of nanofocus tubes that enable detail inspection at the sub-micron level. Additionally, multifocus x-ray sources that include high-power modes, nanofocus and microfocus have also been developed for varied application areas. Furthermore, Flat Panel Detector (FPD) integrated systems particularly digital radiography (DR) machines, that fulfill high resolution and faster processing requirements would be viewed as the next-generation x-ray inspection systems of the future. Additionally, computed tomography (CT) equipped with FPDs and other sophisticated technologies are expected to drive the market due to their widening footprint in various end-use areas.

Medical And Healthcare Segment Accounted For A Significant Share
The expansion of the geriatric population has increased the incidence of cardiovascular and respiratory diseases, and frequent medical check-ups in the medical institutions. According to a survey in the European Union, about 63% of the deaths in the region in the geriatric age group are caused by heart disease or respiratory disease. These factors have increased the consciousness among the population, and have resulted in an increased demand for X-ray machines and imaging software. Thus, the geriatric age group, which is highly susceptible to chronic diseases, is anticipated to bolster the demand for high-resolution imaging systems. The X-ray equipment market for medical applications is also expected to witness healthy growth during the forecast period, driven by the continuous digitalization of X-ray systems and increasing investments on the healthcare industry in emerging economies. Hospitals, on the other hand, are becoming amenable to modern procedures, such as, digital X-ray and medical imaging. In addition, technological advancements, like the design modifications in the interface of computer-controlled X-ray generator with imaging system have resulted in better synchronization of the overall imaging system with X-ray generators.

Asia-Pacific To Witness A Significant Growth Rate
The Asian market is expected to witness a robust growth, primarily driven by the bolstering aviation market and power generation sector which demand highly advanced systems. The major factors driving the growth of this market are rising growth of automobile and aviation industries, technological advancements in industrial x-ray products, growing consumer awareness regarding enhanced quality of products, rising government funding is boosting the growth of the Asia-Pacific industrial X-ray market. China is expected to witness the highest growth, driven by rapidly growing manufacturing industry along with growing vehicle production which is fuelling the demand for high quality x-ray inspection systems. Apart from this, the outspread application of general X-rays such as interventional X-ray, mammography, and general radiography have been witnessing higher demand in APAC. This is driven by the increased need for non-surgical procedures. Further, other advantages such as 3D imaging through magnetic resonance imaging (MRI) and ultrasound help in determining the pattern of the disease in a better way. The upgradation of software applications and increase in MRI compatible interventional procedures for treating chronic disorders are also expected to drive market growth.

Europe Accounted for the Largest Share in the Market
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