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Industrial X-Ray Tubes Market 2024 - By Size, Share, Trends, Growth Analysis And Outlook By 2033
Industrial X-Ray Tubes Market
According to The Business Research Company's, the industrial x-ray tubes market size has grown strongly in recent years. It will grow from $0.9 billion in 2023 to $0.97 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to prevalence of venous disorders, post-surgery prevention, rise in aging population, hospitalization and bed rest, focus on deep vein thrombosis awareness, shift towards outpatient care, orthopedic procedures..
The industrial x-ray tubes market size is expected to see strong growth in the next few years. It will grow to $1.27 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to increasing ambulatory surgery, expanding applications in lymphedema management, global emphasis on preventive healthcare, sports medicine and rehabilitation, awareness and education campaigns, collaboration in healthcare delivery.. Major trends in the forecast period include home-based use of ipc devices, integration of smart technologies, customization of compression therapy, portable and wearable ipc solutions, application in wound healing, innovations in sequential compression patterns..
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Market Drivers and Trends:
The increasing oil and gas pipeline is expected to propel the growth of the industrial X-ray tubes market. Oil and gas pipelines refer to steel or plastic tubes buried underground to transport or distribute petroleum products from region to region and equipped with pumps, valves, and other control devices. Industrial X-ray tubes are used in oil and gas pipelines for non-destructive testing (NDT) to evaluate and inspect the pipelines' properties without destroying the original system's serviceability. For instance, in May 2022, according to the Energy Information Administration, a US-based principal agency of energy information, around 7,44 Bcf/d (Billion cubic feet per day) of new natural gas pipeline was added in 2021, and over 0.43 Bcf/d of new natural gas pipeline capacity was added in Q1 2022 in the US. Therefore, the increasing oil and gas pipeline is driving the growth of the industrial X-ray tubes market.
Major companies operating in the industrial X-ray tubes market are developing innovative products such as high-resolution X-ray tubes to increase profitability in the market. High-resolution X-ray tubes are X-ray tubes that produce a tiny focal spot, which is the point at which the X-rays are emitted that allows for high-resolution imaging. For instance, in December 2021, Excillum, a Sweden-based X-ray equipment manufacturer, launched the NanoTube N3. This new generation high-resolution X-ray tube enables the high resolution up to 160 kV. The NanoTube N3 is initially offered in three distinct variants and delivers top-tier resolution and stability for geometric-magnification X-ray imaging systems without requiring manual adjustments. The NanoTube N3 is designed especially for non-destructive testing (NDT) of components in advanced industries. The NanoTube N3 enables a resolution revolution by coupling the highest resolution in the world with industrial-grade throughput and speed. This innovative product introduces fresh opportunities across all applications demanding the highest X-ray resolution.
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Major Key Players of the Market:
General Electric SE, Toshiba Corporation, Siemens Healthineers AG, Baker Hughes Company, Koninklijke Philips NV, Ronghua Ltd., Varian Medical Systems Inc., Varex Imaging Corporation, Comet Holding AG, Oxford Instruments, Lohmann X-ray GmbH, Nrt Nordisk Rontgen Teknik A S, Malvern Panalytical Ltd., Viscom AG , Dunlee Inc., Canon Electron Tubes & Devices Co Ltd., Proto Manufacturing LLC, Gulmay Inc., AXT Pty Ltd., Hangzhou Kailong Medical instrument Co Ltd., Lafco India Scientific Industries, BMI Biomedical International Corporation, IAE Sp.A, Micro X-ray Inc., Superior X-Ray Tube Company
Industrial X-Ray Tubes Market 2024 Key Insights:
• The industrial x-ray tubes market is expected to grow to $1.27 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
• Impact Of Increasing Oil And Gas Pipeline Expansion On The Industrial X-ray Tubes Market
• Innovative High-Resolution X-ray Tubes Transforming The Industrial X-ray Tubes Market
• North America was the largest region in the industrial X-ray tubes market in 2023
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