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The X-ray equipment market is estimated to increase by USD 3,888.72 million between 2022 and 2027. The market size is forecasted to grow at a CAGR of 6.2%. The growth of the market depends on several factors, including the increasing incidence of chronic diseases, the growing demand for non-invasive diagnostic devices, and the growth in the adoption of portable devices.
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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 6,897.51 million in 2017 and continued to grow until 2021. 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.
The increasing incidence of chronic diseases is notably driving market growth, although factors such as the high cost may impede market growth. Our researchers analyzed the data with 2022 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 the equipment is rising, which is expected to drive the growth of the global market during the forecast period.
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 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 growth strategies.
Global 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. It manufactures digital radiographic testing systems and X-ray film processors for nondestructive testing. The company also offers industrial radiographic equipment, including wireless flat panel detectors, computed radiography systems, X-ray inspection software, automatic X-ray film processor, and green film processing chemicals.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 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.
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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 trends and drivers 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 report forecasts market growth by revenue at global, regional, & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The Market is witnessing significant growth, driven by continuous technological advancements and robust product development fueled by fundings and investments. Governments worldwide are actively promoting initiatives like X-Ray Setu, leveraging Artificial Intelligence (AI) algorithm and digital radiology solutions to enhance diagnostic accuracy and image output quality. With AI integration and partnerships with Amazon Web Services (AWS), the market is witnessing a rise in multimodal/hybrid imaging systems like Luminos Impulse, revolutionizing preventive healthcare and disease screening programs. Particularly crucial for detecting life-threatening disorders such as cardiovascular conditions and breast cancer, stationary X-ray systems, including mobile and stationary variants, offer high-quality diagnostic equipment across various modalities like computed radiography (CR) and digital radiography (DR). Strategic collaborations further drive innovation, including the development of AI algorithms for improved diagnostic accuracy, such as in Endotracheal Tube (ETT) placements.
X-Ray Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.2% |
Market growth 2023-2027 |
USD 3,888.72 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.22 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 38% |
Key countries |
US, Germany, UK, Japan, and China |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Finapoline SAS, Agfa Gevaert NV, Canon Inc., Carestream Health Inc., Clermont Radiology LLC, DURR NDT GmbH and Co. KG, FUJIFILM Holdings Corp., GE Healthcare Technologies Inc., Hitachi Ltd., Hologic Inc., Konica Minolta Inc., Koninklijke Philips NV, MinXray Inc., New Medical Imaging Co ltd, Samsung Electronics Co. Ltd., Mindray Bio medical Electronics Co. Ltd, Shimadzu Corp., Siemens Healthineers AG, Toshiba Corp., and Varex Imaging Corp. |
Market dynamics |
Parent market analysis, Market forecasting, market growth and trends 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 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. |
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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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