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X-Ray Equipment Market by Technology and Geography - Forecast and Analysis 2022-2026

  • Published: Oct 2022
  • Pages: 133
  • SKU: IRTNTR40085
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The X-ray equipment market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth of 5.55% and a CAGR of 5.65%, with the market growing by USD 3.34 billion during the forecast period 2021 to 2026.

The X-ray equipment market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the x-ray equipment market segmentation by technology (digital and analog) and geography (North America, Europe, Asia, and the Rest of the World (ROW)).

The x-ray equipment market report also offers information on several market vendors, including ACTEON Group, Agfa Gevaert NV, Canon Inc., Carestream Health Inc., Clermont Radiology LLC, DURR NDT GmbH & Co. KG, FUJIFILM Holdings Corp, GE Healthcare Inc., Hitachi Ltd., Hologic Inc., Konica Minolta Inc, MinXray Inc., New Medical Imaging Co Ltd, Philips International BV, Shimadzu Corp., Siemens Healthineers AG, TOSHIBA CORP, Varex Imaging Corp., Samsung Electronics Co. Ltd., and Shenzhen Mindray BioMedical Electronics Co. Ltd. among others.

Canon Inc. - Canon Inc. is a public company headquartered in Japan. It is a global company generating USD 31,971.55 million in revenues and has around 184,034 employees. Its revenue from the global X-ray equipment market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. The company offers X-ray equipment such as Ultimax i.

What will the X-Ray Equipment Market Size be During the Forecast Period?

X-Ray Equipment Market Size

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Parent Market Analysis

Technavio categorizes the global X-ray equipment market as a part of the global healthcare equipment market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the X-ray equipment market during the forecast period. 

X-Ray Equipment Market: Key Drivers, Trends, and Challenges

Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage. 

Key X-Ray Equipment Market Driver

  • Growing demand for non-invasive diagnostic devices is notably driving the X-ray equipment market growth. 
  • End-users such as clinics, hospitals, and diagnostic centers in developed and developing countries usually prefer non-invasive tests for the rapid and accurate diagnosis of chronic diseases at an early stage without incisions.
  • Some non-invasive diagnostic tests are X-ray, MRI, plethysmograph, and electrocardiogram (ECG). Non-invasive diagnostic tests are painless techniques that provide detailed and accurate images of the organs with benefits such as less pain, scarring, and infection risks. Thus, these tests are preferred over invasive diagnostic procedures.
  • Manufacturers and researchers are focusing on advancing X-ray technology with improved features such as 3D image detection capabilities. Such advances in non-invasive imaging tests will drive the growth of the global X-ray equipment market during the forecast period.

Key X-Ray Equipment Market Trend

  • Technological advances are a primary trend driving the X-ray equipment market growth. 
  • The launch of new products that feature advanced technology will substantially drive the growth of the global x-ray equipment market.
  • Advancements in the technology of radiographic systems used in routine examinations (chest, neck/spine, and limbs), specialty services (dental and mammography), and emergency services (ICU, neonatal ICU, and hospital wards) have resulted in 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.
  • Vendors in the market are also launching new software that is compatible with existing digital X-ray systems. Such new product launches and technological advances support the growth of the global X-ray equipment market during the forecast period.

Key X-Ray Equipment Market Challenge

  • The high cost of X-ray equipment is the major challenge impeding the  X-ray equipment market growth. 
  • The high cost of X-ray equipment, including support services, makes diagnostic tests quite expensive, which discourages most patients from opting for such tests that are beyond their affordability.
  • Diagnostic costs include radiologists' fees, equipment fees, hospital fees, and inpatient imaging fees. Moreover, the cost of a coil varies depending on the configuration of the X-ray equipment. With advancements in technology, the cost of X-ray equipment is also increasing.
  • The high cost of X-ray equipment makes it inaccessible and unaffordable for many small hospitals and primary healthcare centres, especially in low-income countries, which is expected to limit the growth of the global X-ray equipment market during the forecast period.

This x-ray equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

X-Ray Equipment Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the X-ray equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report. 

Which are the Key Regions for X-Ray Equipment Market?

X-Ray Equipment Market Share by Geography

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41% of the market’s growth will originate from North America during the forecast period. The US is the key market for x-ray equipment market in North America. Market growth in this region will be faster than the growth of the market in other regions.

The rising capital expenditure on healthcare and the increasing prevalence of chronic diseases such as cancer and diabetes will facilitate the x-ray equipment market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

In 2020, North America was severely impacted by the COVID-19 pandemic. The rise in the number of COVID-19 cases in countries across North America influenced governments to introduce emergency legislation, which included restrictions on several business activities. This led to the shutdown of several manufacturing units, including those manufacturing medical equipment, including X-ray equipment, during the first few months of 2020. In addition, disruptions in the supply chain for raw materials required for the manufacturing of ultrasound equipment and the limited availability of the workforce resulted in lower production volumes of X-ray equipment. However, there was a rise in demand because of the increased need to diagnose patients with COVID-19. The demand for portable X-ray equipment increased as numerous patients were restricted to their homes, owing to the restrictions imposed by governments to curb the spread of COVID-19. The outbreak of COVID-19 in the US in early 2020 encouraged market vendors to increase their portable digital X-ray systems' capacity for the early detection of the disease. Owing to the above-mentioned factors, the X-ray equipment market in North America is expected to grow during the forecast period.

What are the Revenue-generating Technology Segments in the X-Ray Equipment Market?

X-Ray Equipment Market Share

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The X-ray equipment market share growth by the digital segment will be significant during the forecast period. Digital X-ray equipment uses several 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 through interaction with human tissues using digital electric sensors. It reduces the cost per X-ray image substantially with its high processing speed that allows radiologists for the real-time visualization and capturing of images on the receptor for the diagnosis of various clinical conditions. These benefits will facilitate segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the X-ray equipment market size and actionable market insights on the post-COVID-19 impact on each segment.

 

X-Ray Equipment Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.65%

Market growth 2022-2026

USD 3.34 billion

Market structure

Concentrated

YoY growth (%)

5.55

Regional analysis

North America, Europe, Asia, and the Rest of the World (ROW)

Performing market contribution

North America at 41%

Key consumer countries

US, Germany, France, Japan, and China

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

ACTEON Group, Agfa Gevaert NV, Canon Inc., Carestream Health Inc., Clermont Radiology LLC, DURR NDT GmbH & Co. KG, FUJIFILM Holdings Corp, GE Healthcare Inc., Hitachi Ltd., Hologic Inc., Konica Minolta Inc, MinXray Inc., New Medical Imaging Co ltd, Philips International BV, Shimadzu Corp., Siemens Healthineers AG, TOSHIBA CORP, Varex Imaging Corp., Samsung Electronics Co. Ltd., and Shenzhen Mindray BioMedical Electronics Co. Ltd.

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

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What are the Key Data Covered in this X-Ray Equipment Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive x-ray equipment market growth during the next five years
  • Precise estimation of the x-ray equipment market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the x-ray equipment industry across North America, Europe, Asia, and the Rest of the World (ROW)
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of x-ray equipment market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Technology
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Technology

    • 5.1 Market segments
      • Exhibit 24: Chart on Technology - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Technology - Market share 2021-2026 (%)
    • 5.2 Comparison by Technology
      • Exhibit 26: Chart on Comparison by Technology
      • Exhibit 27: Data Table on Comparison by Technology
    • 5.3 Digital - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Digital - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Digital - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Digital - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Digital - Year-over-year growth 2021-2026 (%)
    • 5.4 Analog - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Analog - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Analog - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Analog - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Analog - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Technology
      • Exhibit 36: Market opportunity by Technology ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 Asia - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Asia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Asia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Asia - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Asia - Year-over-year growth 2021-2026 (%)
    • 7.6 Rest of World (ROW) - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
    • 7.7 US - Market size and forecast 2021-2026
      • Exhibit 58: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.8 Germany - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.9 Japan - Market size and forecast 2021-2026
      • Exhibit 66: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.10 China - Market size and forecast 2021-2026
      • Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.11 France - Market size and forecast 2021-2026
      • Exhibit 74: Chart on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on France - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on France - Year-over-year growth 2021-2026 (%)
    • 7.12 Market opportunity by geography
      • Exhibit 78: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 79: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 80: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 81: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 82: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 83: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 84: Matrix on vendor position and classification
            • 10.3 Canon Inc.
              • Exhibit 85: Canon Inc. - Overview
              • Exhibit 86: Canon Inc. - Business segments
              • Exhibit 87: Canon Inc. - Key offerings
              • Exhibit 88: Canon Inc. - Segment focus
            • 10.4 Carestream Health Inc.
              • Exhibit 89: Carestream Health Inc. - Overview
              • Exhibit 90: Carestream Health Inc. - Product / Service
              • Exhibit 91: Carestream Health Inc. - Key offerings
            • 10.5 FUJIFILM Holdings Corp
              • Exhibit 92: FUJIFILM Holdings Corp - Overview
              • Exhibit 93: FUJIFILM Holdings Corp - Business segments
              • Exhibit 94: FUJIFILM Holdings Corp - Key offerings
              • Exhibit 95: FUJIFILM Holdings Corp - Segment focus
            • 10.6 GE Healthcare Inc.
              • Exhibit 96: GE Healthcare Inc. - Overview
              • Exhibit 97: GE Healthcare Inc. - Product / Service
              • Exhibit 98: GE Healthcare Inc. - Key offerings
            • 10.7 Hologic Inc.
              • Exhibit 99: Hologic Inc. - Overview
              • Exhibit 100: Hologic Inc. - Business segments
              • Exhibit 101: Hologic Inc. - Key news
              • Exhibit 102: Hologic Inc. - Key offerings
              • Exhibit 103: Hologic Inc. - Segment focus
            • 10.8 New Medical Imaging Co ltd
              • Exhibit 104: New Medical Imaging Co ltd - Overview
              • Exhibit 105: New Medical Imaging Co ltd - Product / Service
              • Exhibit 106: New Medical Imaging Co ltd - Key offerings
            • 10.9 Philips International BV
              • Exhibit 107: Philips International BV - Overview
              • Exhibit 108: Philips International BV - Product / Service
              • Exhibit 109: Philips International BV - Key offerings
            • 10.10 Shenzhen Mindray BioMedical Electronics Co. Ltd.
              • Exhibit 110: Shenzhen Mindray BioMedical Electronics Co. Ltd. - Overview
              • Exhibit 111: Shenzhen Mindray BioMedical Electronics Co. Ltd. - Product / Service
              • Exhibit 112: Shenzhen Mindray BioMedical Electronics Co. Ltd. - Key offerings
            • 10.11 Shimadzu Corp.
              • Exhibit 113: Shimadzu Corp. - Overview
              • Exhibit 114: Shimadzu Corp. - Business segments
              • Exhibit 115: Shimadzu Corp. - Key news
              • Exhibit 116: Shimadzu Corp. - Key offerings
              • Exhibit 117: Shimadzu Corp. - Segment focus
            • 10.12 Siemens Healthineers AG
              • Exhibit 118: Siemens Healthineers AG - Overview
              • Exhibit 119: Siemens Healthineers AG - Business segments
              • Exhibit 120: Siemens Healthineers AG - Key news
              • Exhibit 121: Siemens Healthineers AG - Key offerings
              • Exhibit 122: Siemens Healthineers AG - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 123: Inclusions checklist
                • Exhibit 124: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 125: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 126: Research methodology
                • Exhibit 127: Validation techniques employed for market sizing
                • Exhibit 128: Information sources
              • 11.5 List of abbreviations
                • Exhibit 129: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              market growth will increase by $ during .
              The market is expected to grow at a CAGR of % during .
              Technavio has segmented the market by
              are a few of the key vendors in the market.
              will register the highest growth rate of % among the other regions. Therefore, the market in is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the market growth are:
              The market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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