Market Overview:
Global Medical X-ray Market size was valued at USD 12.28 billion in 2019 and is poised to grow from USD 13 billion in 2023 to USD 21.79 billion by 2031, growing at a CAGR of 5.9% in the forecast period (2024-2031). The Medical X-ray market is poised for considerable growth, propelled by several key drivers, such as rising cases of neurological disorders, continuous technological innovation, and an increasing need for minimally invasive procedures, are expected to take the Medical X-ray market to considerable heights.
Other factors contributing to this can be attributed to the large and rapidly growing patient population suffering from such targeted diseases in key markets, resulting in a significant rise in demand for Medical X-ray. One of the major factors acting as a potential catalyst to drive the market growth over the forecast period is a high prevalence of acute ischemic stroke.
Market Insights:
Medical X-ray Market Driver
Technical advancement in diagnostic imaging in developed countries
The radiography systems are more positively associated with technological breakthroughs. The development of new radiation sources and technologies using neutrons and X-rays is the result of advancements in radiographic systems in routine examinations (chest, neck/spine, and limbs), specialty services (dental and mammography), and emergency services (ICU, neonatal ICU, and hospital wards). The performance of X-ray exams has grown quickly as a result of such developments in diagnostic imaging, particularly in computed tomography (CT).
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Key Market Segments:
Type
Standard Computed Tomography, Kidney, Ureter, Bladder X-rays, Teeth bones X-rays, Chest X-rays, Lungs X-rays, Abdomen X-rays
Application
Medical Applications, General Radiography, Chest Imaging Applications, Orthopedic Applications, Mammography, Dynamic Imaging, Veterinary Applications, Other Applications
End User
Hospitals, Diagnostic centers, Research Laboratories, Others
Technology
Digital and CR/analog
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Regional Insights:
In 2021, North America dominated the market as a whole and generated the majority of worldwide revenue. The presence of numerous industry players and the frequent introduction of new products in the region are the main drivers of regional market expansion. Furthermore, many market players are now contributing to technologically advanced medical x-ray systems which are increasing the market growth in that region.
The market in the Asia Pacific is also likely to boost at the fastest rate. This is mostly a result of growing government initiatives to create mobile, technologically sophisticated medical x-ray devices.
Latin American market growth is anticipated to be boosted by factors such as rising awareness and increased market penetration. The rising frequency of chronic diseases and the market players’ increased focus on product development and diagnostics are the main drivers of market expansion in the area.
Prominent Players in Medical X-ray Market:
- Siemens Healthcare Private Limited (Germany)
- GENERAL ELECTRIC COMPANY (US)
- Koninklijke Philips N.V.
- Canon Medical Systems Corporation
- Carestream Health, Inc.
- Shimadzu Corporation
- Fujifilm Holdings Corporation
- Hitachi, Ltd.
- Hologic, Inc.
- Samsung Medison Co., Ltd.
- Agfa-Gevaert N.V.
- Ziehm Imaging GmbH
- Analogic Corporation
- Allengers Medical Systems Limited
- Eurocolumbus s.r.l.
- BMI Biomedical International s.r.l.
- Control-X Medical GmbH
- Poskom Co., Ltd.
- Varian Medical Systems, Inc.
- Vieworks Co., Ltd.
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Additional Insights:
Market Penetration: Analysis of the product portfolio of different market players and the status of new product launches.
Product Development/Innovation: Assessment of R&D activities, new product development, and emerging trends.
Market Development: Analysis of regions with high growth potential.
Market Diversification: Assessment of new products, recent developments, and emerging regional markets.
Competitive Landscape: Growth strategies, revenue analysis, and product innovations by market players.
Key Questions Answered in Medical X-ray Market Report:
What is the global market size of the Medical X-ray Market?
Who are the key vendors in the Medical X-ray Market?
What is the key driver of the Medical X-ray Market?
What is the key market trend for the Medical X-ray Market?
Which region accounted for the largest share in the Medical X-ray Market?
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