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The global advanced x-ray visualization systems market size is estimated to grow by USD 434.48 million, at a CAGR of 5.56% between 2023 and 2028.
2D X-ray imaging rapidly detects bone changes, aiding in bone metastasis monitoring and assessing rheumatoid arthritis. Its high throughput facilitates quick skeletal phenotype screening. Meanwhile, 3D X-ray provides depth analysis for precise fracture detection. In breast cancer screening, a combination of 3D and 2D mammography enhances accuracy, reducing false positives. However, increased radiation in 3D/2D mammography poses potential cancer risks. Hologic seeks FDA approval based on promising research results. Hence, the presence of hybrid imaging modalities will drive the growth of the market during the forecast period.
Technavio has segmented the market into Product, End-user, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2018-2022, besides analyzing the current market scenario.
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The market share growth by the advanced X-ray visualization systems 2D/3D segment will be significant during the forecast period. To view 2D /3D images, the detector and software in both 2D/3D X-ray systems and standalone 3D X-ray systems play a major role in capturing the images and increasing the clarity of the picture. It reduces the need for re-diagnosis or screening procedure, which increases the demand for 2D/3D X-ray systems in the market.
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The advanced X-ray visualization systems 2D/3D segment was valued at USD 773.98 million in 2018. Furthermore, the increasing number of breast cancer cases increased the demand for 3D X-ray visualization systems in the market. However, such mammograms can be costly compared with that of 2D X-ray visualization systems, which hinders their adoption. To increase patient safety, the US FDA has mandated manufacturers to lower the dosage of radiation in 3D X-ray visualization systems used for a mammogram. The advanced X-ray visualization systems 2D/3D segment of the market will grow at a moderate growth rate during the forecast period.
The growing prevalence of cardiovascular diseases (CVDs) increased the demand for interventional cardiovascular imaging. The rise in cardiological procedures such as complex angioplasty, chronic total occlusion, coronary angiography, pacemaker implantation, and stenosis treatment is increasing the demand for advanced X-ray visualization systems for cardiology. Additionally, key drivers influencing the growth of the market are strategic collaborations of the companies to develop new products and new software in the field of cardiology. This will help in boosting the sales of the companies. Consequently, the increased demand for advanced X-ray visualization systems in cariology will drive the growth of the cardiology segment of the market during the forecast period.
The use of advanced X-ray visualization systems in oncology helps in the identification and diagnosis of malignant cells in the body. Furthermore, the rising number of new cancer cases will increase the need for advanced X-ray visualization systems. Additionally, the growing focus of market players toward developing a surgical suite compatible with advanced visualization systems also helps to drive the adoption of advanced X-ray visualization systems in the oncology segment. Hence, the growing demand for mammography for breast cancer diagnosis is driving the adoption of advanced X-ray visualization systems, which, in turn, will drive the oncology segment of the market during the forecast period.
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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. North America is a dominating region in the global advanced X-ray visualization systems market, with the US and Canada as a leading revenue-generating country. Furthermore, joint fractures in the older population are becoming prevalent in North American countries such as the US and Canada. To treat such patients, advanced X-ray visualization systems for medical imaging, including X-ray Diffractometers (XRD), are considered, which can help to provide better treatment. Additionally, the increasing growth in breast cancer incidence is also driving the demand for advanced X-ray visualization systems to perform mammography. Moreover, the increasing number of product approvals with software updates for advanced X-ray visualization systems is also supporting the regional market growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 17 market companies, including:
Agfa Gevaert NV: The company offers advance X Ray visualization systems namely DX D 100 wireless mobile system with a fully integrated touch screen.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth analysis. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
The existence of reimbursements in developed countries is the key factor driving market growth. The existence of favorable reimbursements helps in the adoption of imaging services. This will also lead the population to opt for the screening of surgical procedures such as angioplasty and surgeries related to spine, neck, and dental procedures. Offering reimbursements by the respective governments in the countries will also increase the screening for breast cancer. Therefore, the demand for these systems will grow rapidly among the people.
Furthermore, in developed countries such as the UK, the NHS offers reimbursements for all imaging procedures, which includes procedures done by advanced X-ray visualization systems as well. EOS imaging system with conventional X-ray (CR and DR) offers reimbursements for patients who are covered under the NHS. Further, in the US, patients who are covered under Medicare and Medicaid are eligible for reimbursements. Thus, the existence of reimbursements in developed countries will drive market growth during the forecast period.
Increased focus on cloud computing is the primary trend shaping market growth. The availability of cloud-based models provides a cost-effective and simple process of diagnosis and treatment. With the help of cloud-based systems, images can be transferred from an outpatient facility to an emergency or hybrid operating room to aid the physician in conducting an image-guided surgery. Thus, these advances in technology can be attained by the presence of advanced X-ray visualization systems.
Additionally, companies focus on cloud computing to connect an advanced X-ray visualization system to the server. For example, GE Healthcare developed AW Server, which connects the systems and delivers 2D and 3D visualization using RIS/PACS into high-end 3D post-processing of images. Thus, aligned with market trends and analysis, the Focus on cloud computing will drive market growth during the forecast period.
Stringent safety and the evolving regulatory landscape in advanced X-ray visualization systems is a challenge that affects market growth. Stringent safety requirements and a continually evolving regulatory landscape challenges stem from the need to ensure patient safety, minimize radiation exposure, and comply with ever-changing regulatory standards. An example of this challenge can be seen in the recent implementation of the European Union's new Medical Device Regulation (MDR), which came into effect in May 2021. The MDR imposes stricter safety and performance requirements for medical devices, including advanced X-ray visualization systems.
Moreover, companies operating in the market must adapt their products and processes to comply with these new regulations, which often require costly and time-consuming efforts. Furthermore, regulatory bodies such as the US Food and Drug Administration (FDA) continually update and revise their guidelines and standards to ensure patient safety. Companies failure to do so can result in delays in product approvals, recalls, or even legal consequences. Therefore, the Stringent safety and evolving regulatory landscape in advanced X-ray visualization systems may impede market growth during the forecast period.
The market research and growth report includes the adoption lifecycle of the market growth and forecasting, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market analysis and report also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends opportunities from 2018 to 2028.
Advanced X-Ray Visualization Systems Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.56% |
Market Growth 2024-2028 |
USD 434.48 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.42 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 40% |
Key countries |
US, Canada, Germany, UK, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agfa Gevaert NV, Align Technology Inc., Canon Medical Systems Corp., Carestream Health Inc., Cefla SC, Dentsply Sirona Inc., FUJIFILM Corp., General Electric Co., Hologic Inc., Koninklijke Philips N.V., Olympus Corp., PerkinElmer Inc, Planmeca Oy, Siemens Healthineers AG, Terarecon Inc, Thermo Fisher Scientific Inc., and Toshiba Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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