Medical X-Ray Equipment And Imaging Software Global Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Medical X-Ray Equipment And Imaging Software Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The medical X-ray equipment and imaging software market size has grown strongly in recent years. It will grow from $2.73 billion in 2023 to $2.92 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to the aging population, increased disease burden, growth in healthcare expenditure, rise in adoption of digitalization, and increased regulatory compliance.

The medical X-ray equipment and imaging software market size is expected to see strong growth in the next few years. It will grow to $3.85 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to the growing demand for point-of-care imaging, expansion of telemedicine, focus on value-based healthcare, shift towards digitalization, and focus on personalized medicine. Major trends in the forecast period include the integration of artificial intelligence, patient safety and dose reduction, a shift towards digitalization and PACS (picture archiving and communication system) integration, portable and point-of-care imaging solutions, and the adoption of 3D and 4D imaging.

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Market Drivers and Trends:

The growing number of degenerative joint diseases is expected to propel the growth of the medical X-ray equipment and imaging software market going forward. Degenerative joint diseases refer to conditions like osteoarthritis, where the flexible tissue at the ends of bones wears down, leading to symptoms such as joint stiffness, pain, and swollen joints. The increasing global burden of degenerative joint disorders is a result of several factors, including aging populations, sedentary lifestyles, joint injuries, and genetic predispositions. Medical X-ray equipment and imaging software are essential tools for diagnosing, guiding treatment, and monitoring degenerative joint diseases, thereby improving patient outcomes. X-ray equipment is commonly used to diagnose degenerative joint disease by capturing images of the affected joints, while imaging software aids in the analysis and interpretation of X-ray images. For instance, in August 2023, according to the U.S. News & World Report, a US-based magazine, the prevalence of osteoarthritis, a degenerative joint disease affecting 15% of the global population over age 30, was projected to afflict nearly 1 billion people by 2050, compared to 595 million in 2020. Therefore, the growing number of degenerative joint diseases is driving the growth of the medical X-ray equipment and imaging software market.

Major companies operating in the medical X-ray equipment and imaging software market are developing innovative solutions, such as mobile X-ray systems, to enhance portability and flexibility in medical imaging. Mobile X-ray systems are compact, portable X-ray machines that can be easily transported and used in various clinical settings, including hospitals, clinics, emergency rooms, and even in field situations such as disaster response or military deployments. For instance, in May 2023, Carestream Health, a US-based medical imaging company, introduced the DRX-Rise Mobile X-ray System, an innovative mobile X-ray system and a fully integrated digital X-ray unit that aims to provide an affordable path to digital imaging for customers. The DRX-Rise is designed to meet the critical needs in medical imaging, including exceptional image quality, workflow-accelerating attributes for productivity, and a more comfortable imaging experience for patients, all without significantly impacting the capital budget. It is equipped with Carestream's cutting-edge ImageView software, driven by the powerful Eclipse processing engine with AI, that offers robust processing and images of optimal quality while reducing errors and increasing dose efficiency.

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Major Key Players of the Market:

Samsung Healthcare, Hitachi Healthcare Americas Corporation, Siemens Healthineers GmbH, Fujifilm Medical Systems, Philips Healthcare, Stryker Corporation, General Electric Healthcare LLC, Agilent Technologies Inc., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Hologic Inc., PerkinElmer Inc., Shimadzu Corporation, Varian Medical Systems, Sectra AB, Agfa-Gevaert Group, Carestream Health Inc., Analogic Corporation, Konica Minolta Healthcare Inc., Canon Medical Systems Corporation (formerly Toshiba Medical Systems Corporation), Ziehm Imaging GmbH, Esaote S.p.A., Planmed Oy, OrthoScan Inc., Terason Corporation, CurveBeam LLC

Medical X-Ray Equipment And Imaging Software Market 2024 Key Insights:

• The medical X-ray equipment and imaging software market size is expected to see strong growth in the next few years. It will grow to $3.85 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
• Degenerative Joint Diseases Fueling Growth Of The Medical X-Ray Equipment And Imaging Software Market
• Innovative Mobile X-Ray Systems Transforming Medical Imaging
• North America was the largest region in the medical X-ray equipment and imaging software market in 2023

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