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The X-ray equipment market size is forecast to increase by USD 3.79 billion at a CAGR of 5.8% between 2023 and 2028. The market's growth hinges on several factors, including the rising incidence of chronic diseases, the growing demand for non-invasive diagnostic devices, and the increasing adoption of portable devices. The prevalence of chronic diseases drives the need for effective and accessible diagnostic solutions. Non-invasive diagnostic devices are becoming more popular due to their ease of use, patient comfort, and reduced risk of complications. Additionally, the adoption of portable devices supports the trend toward personalized and remote healthcare, allowing for convenient monitoring and diagnosis.
It also includes an in-depth analysis of market trends and analysis, market growth analysis and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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The market is experiencing significant growth due to the rising prevalence of cardiac diseases, neurological diseases, and chronic illnesses such as arthritis and dementia. Advances in digital imaging technology have enhanced diagnostic capabilities in medical imaging services, particularly in orthopedic imaging for conditions like osteoporosis and bone density scans. Digital X-ray machines with direct digital radiography (DDR) and digital X-ray sensors such as charged couple devices (CCD) and flat panel detector offer improved image brightness and contrast. This market also addresses sports-related injuries and age-associated diseases, driving demand for innovative digital X-ray equipment in the market. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing incidence of chronic diseases is notably driving market growth. Chronic diseases such as cancer, cardiovascular diseases, and respiratory diseases need frequent diagnostic imaging, such as X-rays. The prevalence of these diseases is rising globally. Hence, the demand for the equipment is also increasing. The number of people with chronic diseases is rising constantly due to factors such as sedentary lifestyles, environmental issues, lack of physical activity, overconsumption of alcohol, tobacco smoking, obesity, and unhealthy eating habits.
Hypertension, spinal abnormalities, cardiovascular diseases, GI diseases, urological diseases, diabetes, cancer, and orthopedic deformities are some of the common diseases among the geriatric population. The increasing incidence of chronic diseases requires early diagnosis and regular monitoring of patients to identify, treat, control, and limit the prevalence of diseases. Thus, the demand for diagnostic equipment such as X-ray Diffractometers (XRD) is rising, which is expected to drive the growth of the global market during the forecast period. XRD plays a crucial role in medical imaging and analysis, aiding in accurate diagnosis and treatment planning for conditions affecting bone structure and composition, which are prevalent among elderly patients.
Technological advances are a key trend in the market. Advances in the technology of radiographic systems have led to the development of new radiation sources and technologies by using neutrons and X-rays. The shift from analog to digital X-rays has led to the development of several applications and radiation-based imaging techniques. The introduction of flat-panel CR in X-ray machines has increased efficiency and imaging quality. Therefore, digital imaging has replaced conventional film-based radiography.
companies are launching new software that is compatible with the existing digital X-ray systems. For instance, in March 2021, Fujifilm India Private Limited launched a new mobile digital radiology system called FDR nanosystems. Similarly, in August 2020, Canon Medical Systems USA Inc announced the Soltus 500 Mobile Digital X-ray, which has a distributed antenna system that optimizes wireless detector range and an 8.4-inch touchscreen display and dual collimator controls. Such product launches and technological advances will support the growth of the global market during the forecast period.
The high cost may impede market growth. The equipment, including support services, is expensive, which, in turn, increases the cost of diagnostic tests. This discourages most patients from opting for such tests. Diagnostic costs include radiologist fees, equipment fees, hospital fees, and inpatient imaging fees. The cost of a coil varies based on the configuration.
Advances in technology are also driving the cost. For instance, the average cost of analog portable X-ray units is USD 57,875. Digital portable X-ray units with flat-panel detectors cost USD 180,159.5. The high cost of the equipment makes it less accessible and unaffordable for hospitals and primary healthcare centers, especially in low-income countries. These factors will restrict the growth of the global market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
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.
DURR NDT GmbH and Co. KG - The company offers X-ray equipment such as X-Mind Unity and Sopix sensors.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
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.
The market share growth by the digital segment will be significant during the forecast period. Digital equipment uses various types of solid-state digital detectors, such as charge-coupled devices, flat panel detectors, and an X-ray source, to detect and generate diagnostic images by interacting with human tissues using digital electric sensors. It significantly reduces the cost per X-ray image owing to its high processing speed.
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The digital segment was valued at USD 7.17 billion in 2018. Digital X-ray equipment is of two types, namely fixed and portable. The demand for portable X-ray equipment is higher because of its advantages, such as 70%-80% less radiation exposure. Companies such as Danaher Corp. are investing in advanced digital X-ray equipment to match their offerings with current developments, such as 3D detector technology. These factors will drive the growth of the segment during the forecast period.
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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market growth and trends that shape the market during the forecast period.
The US is a major contributor to the X-ray equipment market in North America owing to the increasing capital expenditure on healthcare, the rising number of chronic diseases such as cancer and diabetes, and the growing demand for digital X-ray equipment. Canada is also a major contributor to the X-ray equipment market in the region owing to the increasing number of initiatives on campaign initiatives to raise funds for X-ray equipment and the availability of advanced medical imaging equipment. Mexico is another leading revenue contributor to the market in North America. The rising incidence of chronic diseases and the growing number of radiologists are driving the growth of the market in the country. These factors will drive the growth of the market in North America during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is rapidly evolving with advancements in digital X ray equipment and digital imaging technologies. The shift from analog systems to digital X-ray system has improved processing times, image resolution, and radiation protection for healthcare workers. This market addresses a wide range of diagnostic imaging therapeutic areas, including chronic ailments, orthopedic disorders, and cancer diagnosis. Enhanced patient care and accurate diagnosis are driven by AI integration and wireless and portable equipment. Healthcare facilities benefit from early disease identification, digital X ray machines and improved treatment planning. Government programs and increased patient knowledge are boosting the adoption of digital radiographic systems in both rural and urban settings, facilitating preventative healthcare and medical tourism.
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Market Scope |
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Report Coverage |
Details |
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Page number |
171 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.8% |
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Market growth 2024-2028 |
USD 3.79 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.4 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 38% |
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Key countries |
US, Germany, UK, Japan, and China |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Agfa Gevaert NV, Canon Inc., Carestream Health Inc., Clermont Radiology LLC, DURR NDT GmbH and Co. KG, Finapoline SAS, FUJIFILM Holdings Corp., GE Healthcare Technologies Inc., Hitachi Ltd., Hologic Inc., Konica Minolta Inc., Koninklijke Philips N.V., Shenzhen Mindray BioMedical Electronics Co. Ltd, MinXray Inc., New Medical Imaging Co ltd, Samsung Electronics Co. Ltd., Shimadzu Corp., Siemens Healthineers AG, Toshiba Corp., and Varex Imaging Corp. |
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Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
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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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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