This report on global X-ray equipment market studies various technologies and products used for medical diagnosis in the field of healthcare. X-ray equipment helps in diagnosing various diseases such as cardiovascular, pulmonary, oral (dental) diseases and others. Globally the X-ray applications are implemented with several different technologies. Portability in diagnostic devices is the major factor shifting the imaging diagnostic market away from stationary imaging devices. In today’s healthcare industry product designs are user-friendly and customized to fit the needs of the clinician end user. According to market experts, in the near future price and geography are expected to play major part in the X-ray equipment market.
For the purpose of this study, the global X-ray equipment market has been segmented on the basis of product type, technology, application, and geography.. The major categories of X-ray equipment studied by product type in this report include stationary/fixed and portable X-ray systems. The portable X-ray products have been further categorized into two sub-segments, mobile and handheld X-ray systems. On the basis of technology, the X-ray market is segmented into two major analog and digital X-ray systems. The digital X-ray systems market is sub-segmented into two major technological systems, namely, computed radiography (CR) and direct digital radiography systems. The major application areas of X-ray equipment segmented are such as cardiovascular, respiratory, mammography dental, orthopedics and others (abdominal and general surgery). Market size estimates and forecast for these segments for the period 2013 to 2023 are provided in terms of USD Mn along with the respective compounded annual growth rates (CAGRs) for the period 2016 to 2023, considering 2015 as the base year.
The X-ray equipment market has been geographically categorized into major regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geography market is further split to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, Brazil, and GCC countries. Market size and forecast for these segments during 2013 to 2023 and their CAGRs for the period 2016 to 2023 are provided in this report.
The major key players profiled in the X-ray equipment market are on the basis of various characteristics such as business description, financial health and budget allocation, product portfolio, and news coverage. The major players profiled in this report include Agfa-Gevaert N.V., Bracco Imaging S.p.A, Canon, Inc., Carestream Health, Inc., Fujifilm Holdings Corporation, GE Healthcare, Hologic, Inc., Hitachi Medical Corporation, Konica Minolta, Inc., Shimadzu Corporation, PerkinElmer, Inc., Philips Healthcare, Siemens Healthcare, Thales group, Toshiba Corporation, Varian Medical Systems, Inc., and Ziehm Imaging, Inc.
Product Segmentation Investigation
X-ray devices market is the largest segment in medical imaging diagnosis market due to high adoption rate, market penetration and being the most matured market in terms of technology and application. The two types of X- ray devices are Stationary/fixed and portable; portable X-ray devices are further sub-segmented as mobile and handheld. According to market experts, the portable X-ray devices have high adoption rates due to their usability in ICUs and emergency departments with ease. One of the major advantages of portable X-ray devices is it reduces the risk involved in patient transfer from the designated unit to the radiology unit. Thus, the preferences of medical practitioners are rapidly shifting toward application of portable X-ray equipment due to its several advantages over stationary X-ray equipment.
Application Segmentation Analysis
The major factor restricting the growth of MRI and CT technologies in medical diagnostics is the high capital cost which actually works against further investment in those technologies. Thus, according to market experts the imaging equipment investment prefers modern digital x-ray equipment because it offers significant workflow improvements and significantly more clear images.
Cardiovascular applications accounted for the major market share in global X-ray equipment market in 2015. The World Health Organization (WHO) estimates, cardiovascular diseases accounted for around 17.3 million deaths in 2008, and the number is likely to increase to 23.3 million deaths each year by 2030. The low to middle income countries are the largest affected regions, accounting for 80% of all the deaths due to cardiovascular diseases across the world. Thus, high prevalence of cardiovascular diseases and rising public awareness associated with cardiovascular disease diagnosis are the major factors assisting its growth during the forecast period 2016 – 2023.
Technology Segmentation Analysis
Technological advancements have introduced novel and superior X-ray systems that are found in applications such as detection of tumor outgrowths, breast cancer imaging, and several other chronic disorders and diseases. The market experts across the globe suggest that the demand for advanced systems is swiftly rising for early diseases diagnosis to ensure efficient treatment and/or management of the disease. The recent technological developments in the diagnostics field has led to the market introduction of several highly developed X-ray systems such as CMOS and CCD based digital systems, direct & indirect flat panel detection based systems, direct digital radiography systems, and mobile and handheld digital systems.
In base year 2015, North America accounted for the largest share of the x-ray equipment market and expected to project standard growth during the forecast period. The key factors assisting the growth of x-ray equipment market in this region are aging population, high adoption rate for equipment with innovative technology, rising public awareness related to diagnosis and increasing number of research activities to develop new and advanced digital x-ray products. According to market experts, the market for diagnostic imaging and informatics is shifting as pathology and point of care diagnostics are providing in-depth insights into patient’s condition than earlier. Market stakeholders positioned in the x-ray market are equipped with a unique portfolio to generate absolute and integrated solutions for definitive diagnosis.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of X-Ray Equipment market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Product Type
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Technology
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Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
