Medical X-Ray Market technology advancements, regional demand and growth dynamics to 2027

Growing utilization of medical X-ray machine to detect numerous health conditions such as bone fractures, infections, calcifications, tumors, arthritis, and others will augment medical X-ray market growth in the upcoming years. Increasing expenditure on healthcare infrastructure specifically in developed countries will provide lucrative growth opportunities to the medical X-ray equipment providers.

Developed countries like the U.S., UK, Sweden, and Germany spend extensively in order to enhance the capabilities of their healthcare sector. As per the Organization for Economic Co-operation and Development (OECD) estimations, in 2019, the U.S. ranked the highest in terms of healthcare expenditure of about US$11,072 per capita, among other developed countries across the globe.

The high growth of the healthcare sector owing to the substantial investments in the field will provide a strong market base for various medical equipment manufacturers in these regions. Global medical X-ray market size is projected to surpass US$19.5 billion by 2027, according to an analysis report issued by the Global Market Insights, Inc. Following are some trending factors encouraging the adoption of medical X-ray machines in the medical sector.

High integration of direct radiography in X-ray systems

The direct radiography (DR) segment was estimated to hold over 42% medical X-ray market share in 2020. Growing advantages of DR technology over other traditional imaging technologies will primarily enhance the equipment use. In the direct radiography technique, the images are store electronically without using films and chemicals, which will uplift its integration in X-ray machines to get quick results.

The added benefits of the DR technologies such as superior evaluation of the image, flexibility in image management, better contrast detectability, reduced radiation exposure, and effective dynamic range will positively influence its demand over other available imaging technologies.

Robust demand for portable X-ray devices

The portable X-ray devices industry witnessed over US$5.4 billion in terms of annual valuation in 2020. The demand for point of care diagnostics is primarily driven by the elderly population base. There is a substantial rise in the geriatric population base suffering from mobility issues. Extensive investments towards R&D programs to introduce advanced portable systems to provide a point of care solutions to elderly people will augment the product use.

Benefits associated with portable systems such as high specificity, improved diagnosis efficiency, and others will increase its demand for radiological analysis of patients in nursing homes.

To access sample pages of this report titled, “Medical X-ray Market Size By Type (Digital, Analog), By Technology (Film-based Radiography, Computed Radiography [CR], Direct Radiography [DR]), By Portability (Fixed, Portable), By Application (Dental {Intra-oral, Extra-oral}, Veterinary {Oncology, Orthopaedics, Cardiology, Neurology}, Mammography, Chest, Cardiovascular, Orthopaedics), By End-use (Hospitals, Diagnostic Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents, please click on the link below:   

Growing preferences for X-rays in hospitals

The medical X-ray market for hospital category held around US$5.6 billion in terms of revenue size in 2020. The availability of advanced treatment facilities in hospitals influences the surging deployment of medical X-ray machines at these healthcare centers. Owing to the accessibility of advanced medical infrastructures, patients highly prefer hospitals for X-ray examinations.

Also, the presence of skilled and professional medical staff in hospitals positively impacts the number of patients taking admissions in these healthcare centers.

High prevalence of osteoporosis among women

The orthopedic application segment in the medical X-ray market will grow at around 5.5% CAGR up to 2027. The high prevalence of osteoporosis among females owing to weaker bones and low bone density as compared to male will propel the demand for medical X-ray applications from the orthopedic division.

According to the International Osteoporosis Foundation, osteoporosis is considered as most underdiagnosed and undertreated disease in Asia. Such circumstances encourage prominent companies to fuel the penetration of medical X-ray systems in the APAC region.

Rising number of patients in APAC

Asia Pacific medical X-ray market is estimated to grow at nearly 7% CAGR through 2027. The regional industry progression is predominantly driven by the rising number of patients suffering from various chronic diseases in the region. A high volume of patients will create tremendous demand for X-ray diagnostics in APAC.

GE Healthcare, Canon Medical Systems, Neusoft Medical Systems, Hitachi Medical, Carestream Health, Siemens Healthcare, Konica Minolta, and Hologic, among others, are some of the leading firms in the global industry. These companies are drawing strategies of mergers, partnerships, and collaborations in a bid to consolidate their foothold in the global market. For example, Philips in May 2019, joined hands with Medtronic to upgrade the existing imaging procedures for atrial fibrillation.

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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