Authored By: Sarah
11 Jul 2024

 X-Ray Equipment Market Size to grow by USD 3799.9 million between 2024-2028

According to a research report “ X-Ray Equipment Market” by Technology (Digital, Analog) End-user (Hospitals, Diagnostic imaging centers) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 3799.9 million, at a CAGR of almost 5.8% during the forecast period. The global X-ray equipment market is experiencing significant growth due to the increasing prevalence of chronic diseases, such as cancer, cardiovascular diseases, and respiratory diseases. These conditions necessitate frequent diagnostic imaging, including X-rays. With the rising incidence of chronic diseases worldwide, there is a corresponding increase in demand for X-ray equipment. Factors contributing to this trend include sedentary lifestyles, environmental issues, lack of physical activity, overconsumption of alcohol, tobacco smoking, obesity, and unhealthy eating habits. Among older populations, the most common chronic diseases are hypertension, spinal abnormalities, cardiovascular diseases, gastrointestinal diseases, urological diseases, diabetes, cancer, and orthopedic deformities.

Browse market data tables, figures, and in-depth TOC on “X-Ray Equipment Market” by Technology (Digital, Analog) End-user (Hospitals, Diagnostic imaging centers) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample

 

By Technology, the Digital segment is projected to dominate the market size in 2024

The hospital segment of the global X-ray equipment market encompasses the sale of specialized X-ray devices and systems intended for use within healthcare facilities. This category includes stationary and portable X-ray machines, CT scanners, and digital radiography systems. The primary driver of demand in this market is the necessity for precise and prompt diagnostic imaging in the diagnosis and treatment of various medical conditions. Notable market participants in the hospital sector include GE Healthcare. With hospitals continually investing in advanced medical technology to enhance patient care, the X-ray equipment market is projected to witness continuous expansion.

By End-user, Hospitals  segment is expected to hold the largest market size for the year 2024

Digital X-ray equipment employs advanced solid-state detectors, including charge-coupled devices and flat panel detectors, to capture diagnostic images through interaction with human tissues using digital electric sensors. This technology significantly decreases the cost per image due to its high processing speed, enabling radiologists to view and capture real-time images directly on the receptor for accurate diagnosis of various clinical conditions. The market offers two primary types of digital X-ray systems: fixed and portable. Portable equipment, which is highly sought-after due to its convenience, allows radiologists to bring the diagnostic tool to patients' bedsides, making it an essential solution for home care patients.

North America is forecasted to hold the largest market size by region in 2024

The X-Ray Equipment Market represents a significant business opportunity, driven by the increasing demand for diagnostic imaging solutions in healthcare facilities worldwide. Advanced technologies, such as Digital Radiography (DR) and Computed Tomography (CT), continue to revolutionize the industry, offering improved image quality, faster diagnosis, and enhanced patient care. Market growth is further fueled by population aging and rising healthcare expenditures, making it a lucrative investment for industry participants.

The X-Ray Equipment Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • 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.
  • Varex Imaging Corp.
.

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Research Analysis Overview

The X-ray equipment market encompasses a wide range of imaging technologies used for diagnosing various health conditions, including bone density scans for osteoporosis, orthopedic imaging for sports-related injuries, and diagnostic capabilities for chronic illnesses such as dementia, arthritis, cancer, and age-associated diseases. The geriatric population, in particular, benefits significantly from these advanced imaging techniques, which help in early detection and treatment of diseases. Digital imaging technology, including flat panel detectors and computed radiography, has revolutionized medical imaging services by enhancing image quality and reducing radiation exposure. Contrast agents and image brightness adjustments are essential tools in achieving clearer images, especially in neurological and cardiac diseases. Bone density scans play a crucial role in diagnosing osteoporosis, a condition that affects millions of people, particularly the elderly. Digital imaging technology enables the detection of even minor bone density changes, allowing for early intervention and prevention of fractures. Similarly, X-ray equipment is essential in diagnosing and monitoring chronic illnesses such as cancer, arthritis, and neurological diseases. Patient knowledge about these imaging techniques and their diagnostic capabilities is vital in ensuring timely and effective treatment. Overall, the X-ray equipment market continues to evolve, driven by advancements in technology and the growing need for accurate and efficient diagnostic tools.

Market Research Overview

The X-ray equipment market is witnessing significant growth due to the increasing demand for early diagnosis and preventative healthcare, especially among the geriatric population and those with age-associated diseases such as breast cancer, metastatic tumors, osteoporosis, arthritis, dementia, and cardiovascular diseases. Radiologists are increasingly turning to AI integration in medical imaging technologies for more accurate diagnosis and treatment planning, particularly in the detection of breast cancer and bone density scans. AI-enabled digital radiographic systems offer adaptable diagnostic options, early disease identification, and improved diagnostic precision. The healthcare system's adoption of these advanced imaging technologies is driven by the need for digital images with high resolution and faster processing times. The patient population, including those with sports-related injuries and musculoskeletal disorders, also benefits from these advancements. Medical tourism and healthcare services are also fueling the demand for X-ray equipment, particularly in countries with advanced medical imaging technologies and skilled healthcare workers. The initial investment in digital imaging technology may be high, but the long-term benefits, including radiation protection and reduced radiation exposure, make it a worthwhile investment for healthcare organizations. The imaging process adoption is further driven by government programs aimed at improving patient care and diagnostic services, particularly in hospitals and healthcare facilities. The market for X-ray equipment is expected to grow further as medical issues such as neurological diseases, orthopedic disorders, and chronic ailments continue to rise. The use of contrast, image brightness, and computed radiography are also key factors contributing to the market's growth.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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