The global “medical x-ray“ market size is expected to reach USD 16.86 billion by 2028. This information is published by Fortune Business Insights in its latest report, titled, “Medical X-ray Market, 2021-2028.” The report further observes that the market stood at USD 12.14 billion in 2020 and is projected to exhibit a CAGR of 4.4% between 2021 and 2028. The increasing demand for digital medical x-rays and the supportive government initiatives to create awareness among people are the factors attributed to the growth of the market in the forthcoming years.
Major Medical X-ray Market Key players covered in the report include:
- Siemens Healthcare Private Limited (Erlangen, Germany)
- GENERAL ELECTRIC COMPANY (Illinois, United States)
- Carestream Health (New York, United States)
- Koninklijke Philips N.V. (Amsterdam, Netherlands)
- Shimadzu Corporation (Kyoto, Japan)
- CANON MEDICAL SYSTEMS CORPORATION (Tokyo, Japan)
- FUJIFILM Corporation (Stamford, Connecticut, United States)
- Varian Medical Systems, Inc. (California, United States)
- Other Prominent Players
Get Request a Sample Copy of the Medical X-ray Report:
Global Medical X-ray Market report covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
Medical X-ray Market Analysis 2021:
We have categorized the market on the basis of product type, technology type, application, end-user, and region. On the basis of type, the market is bifurcated into static and dynamic. Based on technology, the market is divided into analog and digital. Furthermore, based on application, the market is segregated into dental, veterinary, cardiovascular, oncology, others. Lastly, on the basis of region, the market is segmented into North America, Latin America. Europe, The Middle East and Africa, and Asia-Pacific.
Increasing Demand for Digital Medical X-rays to Augment Growth
In January 2021, European photonics scientists announced the development of a new autocorrect algorithm for image processing that reduces x-ray scatter to provide safe and low dose x-rays for children. In recent years, the healthcare sector has seen a gradual shift from analog to digital x-rays globally. The increasing adoption of digital x-rays owing to their faster and safer image processing response is expected to bode well for the global medical x-ray market growth in the forthcoming years. Additionally, supportive government initiatives to create awareness regarding early diagnosis of chronic diseases to reduce its fatality is expected to contribute to the growth of the market between 2021 and 2028.
Market to Exhibit a Year-on-Year Growth of 2.8% in 2021 amid COVID-19
According to an article published by the ScienceDirect, overall medical imaging volume in 2020 declined by about 12.2% compared to 2019 in the United States. The declining numbers are due to the either cancelled or postponed non-COVID procedures as per the guidelines of the government agencies in 2020. However, once the situation returns to normalcy and the resumption of medical procedures across several healthcare institutions, the global market will exhibit a positive growth during the forecast period.
Click here to get the short-term and long-term impact of COVID-19 on this market.
Further Report Findings:
- North America stood at USD 4.52 billion in 2020 and is expected to hold the highest position in the global market during the forecast period. This is attributable to the presence of several players in the region that are investing in the development of technologically advanced medical x-ray systems. For instance, in September 2020, Carestream Health, the U.S.-based company, announced the launch of an advanced DRX-Compass x-ray System to provide accurate and efficient x-rays for medical imaging centers and mid-tier hospitals globally.
- The market in Europe is expected to showcase considerable growth backed by the increasing incidence of chronic ailments such as cardiovascular diseases, cancer, and respiratory disorders in the region between 2021 and 2028.
- Based on the end-user, the diagnostic centers segment is expected to experience exponential growth and hold a significant medical x-ray market share during the forecast period. This is ascribable to factors such as increasing reliability on these types of centers that provide accurate and efficient results and the presence of skilled healthcare professionals globally.
Market Players Focus on Merger and Acquisition to Intensify Industry Competition
The global market for medical x-ray is consolidated by the presence of major companies striving to maintain their presence. These companies are strategically acquiring other smaller companies to expand their product portfolio and gain a competitive edge over their rivals. Other key players in the market are striving to maintain a stronghold by adopting strategies such as partnerships and collaboration during the forecast period.
June 2020 – Siemens Healthineers unveiled the world’s first-ever intelligent x-ray system with integrated AI. According to the company, the system can be adopted for efficiently optimizing the daily routine of image acquisition in radiography.
Key questions answered in the report:
- What will the market growth rate of Medical X-ray market in 2027?
- What are the key factors driving the global Medical X-ray market?
- Who are the key manufacturers in Medical X-ray market space?
- What are the market opportunities, market risk and market overview of the Medical X-ray market?
- What are sales, revenue, and price analysis of top manufacturers of Medical X-ray market?
- Who are the distributors, traders and dealers of Medical X-ray market?
- What are the Medical X-ray market opportunities and threats faced by the vendors in the global Medical X-ray industry?
- What are sales, revenue, and price analysis by types and applications of Medical X-ray market?
- What are sales, revenue, and price analysis by regions of Medical X-ray industry?
Have Any Query? Ask Our Experts: