Press release
Global X-ray Systems Devices and Equipment Market Set for Significant Growth, Projected to Reach $24.44 Billion by 2028
X-Ray Systems Devices And Equipment Market
The X-ray Systems Devices and Equipment market, currently valued at $16.98 billion in 2023, is anticipated to rise to $18.38 billion in 2024, boasting a Compound Annual Growth Rate (CAGR) of 8.2%. The market is poised for robust growth, with projections indicating an expansion to $24.44 billion by 2028, maintaining a solid CAGR of 7.4%.
Driving Factors:
The market's strong growth is attributed to the rising incidence of injuries worldwide, increasing demand for diagnostic imaging procedures, and a surge in mergers and acquisitions within the industry. The prevalence of injuries, accidents, and sports-related damages is contributing to the demand for medical diagnostic X-ray systems.
Demand for Diagnostic Imaging Procedures:
The increasing demand for diagnostic imaging procedures, with 40.3 million reported in England alone between September 2020 and August 2021, is a key driver for the X-ray Systems Devices and Equipment market. These procedures play a crucial role in accurately diagnosing illnesses or injuries, further fueling market growth.
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Mergers and Acquisitions:
The x-ray systems devices and equipment market is witnessing a notable rise in mergers and acquisitions, as companies diversify into medical/diagnostic imaging and radiology businesses. Siemens Healthineers AG's acquisition of Varian in April 2021 exemplifies this trend, with a focus on creating a unique portfolio of laboratory diagnostics, imaging, and artificial intelligence to enhance cancer care.
Technological Advancements:
The National Council on Radiation Protection and Measurements (NCRP) is spearheading innovations to reduce medical radiation exposure. In response to the FDA's initiative, NCRP recommended a new radiation vital sign risk score, aiding patient safety from diagnostic X-ray systems. Companies like ControlRad are developing technologies to decrease radiation exposure significantly, with reductions of up to 57% reported.
Regional Insights:
Western Europe leads the market in 2023, closely followed by North America.
The x-ray systems devices and equipment market covered in this report is segmented -
1) By Type: Portable type, Stationary type
2) By Product Type: Computed Tomography, Mobile X-Ray Devices, C-Arm Devices, Dental X-Ray, Mammography, Other Product Types
3) By image type: 2D images, 3D images, 4D images 4) By Technology: Analog X-Ray Machine , Digital X-Ray Machine
4) By Technology: Analog X-Ray Machine, Digital X-Ray Machine
5) By Application: Cardiovascular, Respiratory, Mammography, Dental, Orthopedics, Other Applications
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X-Ray Systems Devices And Equipment Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The X-Ray Systems Devices And Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on x-ray systems devices and equipment market size, x-ray systems devices and equipment market drivers and trends, x-ray systems devices and equipment market major players, x-ray systems devices and equipment market competitors' revenues, x-ray systems devices and equipment market positioning, and x-ray systems devices and equipment market growth across geographies. The x-ray systems devices and equipment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the x-ray systems devices and equipment market report and tap into segments with the highest growth potential.
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