Global Radiography Systems Market and is expected to grow at a ~5% CAGR during 2022 to 2028: Ken Research

Radiography System is outlined as an exposure device/equipment that is primarily used for radiography activities such as X-ray, computed tomography (CT) scan, ultrasound, magnetic resonance imaging (MRI), and others. Radiography is used in a variety of examinations and procedures that necessitate a record of a static image, including dental examinations, mammography, orthopedic evaluations, chiropractic examinations, and static recording during fluoroscopy.

According to Ken Research Analysis, the Global Radiography Systems Market was valued at ~US$ 25 billion in 2017, it is estimated to be ~US$ 30 billion in 2022 and is expected to grow at a ~5% CAGR during 2022 to 2028, with market size of ~US$ 40 billion in 2028. The rise in the prevalence of chronic diseases such as cancer, diabetes, cardiovascular disease, neurology disorders, and others, combined with advancements in healthcare systems, has resulted in an increased emphasis on early detection.

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Increasing use of AI-enabled diagnostic equipment for rapid diagnosis and predictive analysis, notably in developed countries is one of the major contributing factors to the rising demand for radiography systems.
The increasing prevalence of osteoarthritis worldwide, combined with the growing need to diagnose, monitor, and treat health conditions, such as pregnancy, swelling or infection in internal organs, spinal injuries, dental issues, and tendon/ligament tears, is likely to drive market growth in the forthcoming years.
High prices for medical imaging tests and limited access to critical infrastructure, particularly in developing countries, are expected to stifle market growth.
The ongoing COVID-19 pandemic has adversely affected the global radiography systems market in 2020, primarily due to a decline in patient visits to hospitals and clinics. However, Computed Tomography (CT) scanners witnessed a higher demand in 2020, owing to the need for High-Resolution CT (HRCT) scans for the diagnosis of COVID-19 patients through chest scans.

Key Trends by Market Segment

By Type: The X-Ray Devices segment held the largest market share of the Global Radiography systems Market in 2021, owing to the increase in the demand for early-stage diagnosis of chronic diseases, such as lung infection, breast cancer, enlarged heart, and blocked blood vessels.

The ongoing COVID-19 pandemic has also propelled the demand for x-ray systems across countries due to an increase in the number of COVID patients undergoing chest testing.
Increasing the use of interventional x-ray systems, including C-arms for image-guided surgeries, is also expected to boost x-ray system market growth.

By Application: The Cardiology segment held the largest market share of the Global Radiography systems Market in 2021, primarily due to the surge in the prevalence of cardiovascular disease.

The growing geriatric population exacerbates the need for healthcare products and services as such population is more vulnerable to diseases, such as respiratory (tuberculosis and pneumonia), oral, orthopedic (osteoporosis), and cardiovascular diseases.
The ubiquity of high blood pressure among individuals across countries is also contributing to the demand for cardiac radiography systems, as high blood pressure constitutes one of the most important risk factors for cardiovascular disease.

By End User: The Hospitals and Clinics segment accounted for the majority share of the Global Radiography systems Market in 2021.

The continuous development in the healthcare industry across countries has raised the requirement for hospitals with advanced techniques and facilities.
The growing number of chronic diseases tested during the assessments and processing of body fluids, particularly following the worldwide explosion of the COVID-19 pandemic, are another major factor influencing the demand for radiography systems in hospitals and clinics.

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By Geography: North America accounted for the largest market share in the global radiography systems market in 2021.

The growth is mainly attributed to increased technological adoption in diagnostic techniques, extensive research initiatives, and regulatory science activities across the healthcare industry, especially in countries such as USA, and Canada.
The region's developed healthcare and hospital infrastructure is also a major factor behind the expansion of radiography systems.

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Competitive Landscape

The Global Radiography Systems market(https://www.kenresearch.com/business-research/global-radiography-systems-market-outlook-2028/) is highly competitive with ~100 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche diagnostic imaging techniques, such as AI-enabled x-ray interpretation, digital mobile radiography, automatic image stitching, dual-energy imaging, and others, for end-users. The radiology market's growth is heavily reliant on detection technologies and advancements in testing equipment and instruments.

Country-Niche players control about ~40% of the market, while regional players hold a share of ~35%. Some of the major players in the market include General Electric Company, Hitachi Medical Corporation, Siemens Healthcare GmbH, Koninklijke Philips N.V., Samsung Medison Co. Ltd, Fujifilm Holdings Corporation, Hologic, Inc., Shimadzu Corporation, Canon Medical Systems Corporation, Agfa-Gevaert Group, Carestream Health, Esaote and among others.

Recent Developments Related to Major Players and Organizations

In July 2022, Fujifilm, a Japanese photography company, launched a hybrid c-arm and portable x-ray solution in Europe, with the intention of providing high-quality fluoroscopic and static x-ray images during surgery and other medical procedures.
In April 2022, Unilabs, a European company that provides diagnostic services, collaborated with GE Healthcare, a U.S.-based company that offers medical technology and digital solutions, to provide advanced radiography systems and imaging services, including MRI and CT scanning technology, ultrasound devices, mammography, and X-ray machines, and innovative imaging fleet services in Portugal.

CONCLUSION

The Global Radiography Systems Market 9https://www.kenresearch.com/business-research/global-radiography-systems-market-outlook-2028/) Size, Segments, Outlook, and Revenue Forecast 2022-2028 is forecasted to continue an exponential growth that is witnessed since 2017. The major driving factor contributing to the expansion of radiography systems is a rise in the prevalence of chronic diseases such as cancer, diabetes, cardiovascular disease, neurology disorders, and others, combined with advancements in healthcare systems. Though the market is highly competitive with ~100 participants, few global players control the dominant share and regional players also hold a significant share.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and report delivered within maximum 2 working weeks.

Market Taxonomy

By Type         

X-Ray Devices
Ultrasound Systems
Computed Tomography (CT) Scanners
Magnetic Resonance Imaging (MRI) Equipment
Nuclear Imaging Equipment

By Application

Cardiology
Neurology
Orthopedics
Gynecology
Oncology

By End User

Hospitals and Clinics
Specialty Clinics
Diagnostic Imaging Centers
By Geography • North America (USA, Canada, Mexico)
Europe (Germany, UK, Italy, France, Spain, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, Rest of Asia Pacific)
LAMEA (Latin America, Middle East, Africa)

Key Players  

General Electric Company
Hitachi Medical Corporation
Siemens Healthcare GmbH
Koninklijke Philips N.V.
Samsung Medison Co. Ltd
Fujifilm Holdings Corporation
Hologic, Inc.
Shimadzu Corporation
Canon Medical Systems Corporation
Agfa-Gevaert Group
Carestream Health
Esaote

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