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Industry Trends
Medical X-ray Market size valued at USD 13 billion in 2020 and is expected to witness 5.7% CAGR from 2021 to 2027. Surging burden of chronic diseases such as cancer, neurological diseases, dental problems, cardiac diseases, and musculoskeletal disorders will spur the market growth.
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Moreover, due to the increasing incidence of COVID-19, the need for effective diagnosis and treatment has also surged globally. Several market participants in the medical device manufacturing industry are working continuously to escalate the production of medical X-ray devices to meet the growing needs of healthcare providers for imaging solutions.
Report Coverage | Details |
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Base Year: | 2020 |
Market Size in 2020: | USD 13.1 Billion |
Forecast Period: | 2020 to 2021 |
Forecast Period 2020 to 2021 CAGR: | 5.7% |
2021 Value Projection: | USD 19.9 Billion |
Historical Data for: | 2016 to 2020 |
No. of Pages: | 250 |
Tables, Charts & Figures: | 351 |
Segments covered: | Type, Technology, Portability, Application, End-use and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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Technological advancements in diagnostic imaging modalities will escalate the medical X-ray market growth. Advancements in medical X-ray systems to provide high-quality, high-resolution images without a corresponding increase in radiation dose will positively influence the market progression. In addition, upgrades in video fluoroscopic X-ray systems, detector, or rather a detector chain will flourish the market expansion. Similarly, prominent industry players such as Hitachi, Canon, Philips, Siemens, GE Healthcare, and others are introducing novel medical X-ray systems for strengthening market position by introducing advanced quality devices.
The analog medical X-ray market value was more than USD 5.2 billion in 2020. Analog systems allow healthcare professionals to take multiple X-ray images from the same position. Numerous advantages of analog medical X-rays include better medical evaluation, effective dynamic range, reduced radiation exposure and better contrast detectability. In addition, other benefits such as accurate and superior image capture, flexibility in image management, superior evaluation of data and images as well as lower operational costs favour the segment growth.
The direct radiography (DR) segment held around 42% market share in 2020. DR technology helps in improving image resolution as well as contrast that further spreads the dynamic range of image by adjusting the window position along with width. DR provides better vision for clinical application for improved and advanced patient images. Furthermore, these X-ray films have been extensively utilized in orthopaedic and dental procedures for diagnosing the patients that secure the market expansion.
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The hospitals segment dominated more than 42% medical X-ray market share in 2020 due to increasing demand for medical X-ray for proper diagnosis and treatment at hospital settings. Rise in number of patient visits in hospitals coupled with surge in the amount of surgical procedures needing medical X-ray for appropriate diagnosis will boost the market growth. Moreover, availability of well-developed infrastructure and skilled healthcare professionals at hospitals proving better patient management and care will further enhance the market demand.
The portable medical X-ray market is estimated to showcase around 6% growth rate during the forecast timeframe. Portable medical X-ray systems increases the general patient care capabilities to treat patients who cannot be moved easily. This will ultimately benefit both the medical staff as well as the patients, surging its adoption rate in various healthcare facilities. Various benefits of portable x-rays include security and comfort, reduced wait-time and cost-efficient further proves advantageous for the market growth.
The mammography segment size was over USD 2 billion in 2020 owing to increasing number of breast cancer cases along with advents in technology. Mammography identifies early breast cancer among women experiencing minimal symptoms that augments its adoption rate. Dual modality mammographic fusion, contrast-enhanced mammography, and breast tomosynthesis are some of the major applications that secures the market demand.
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North America medical X-ray market is predicted to expand at a CAGR of 5% through 2027. Robust foothold of key industry players in North America region along with increasing adoption of new technologies will foster the market expansion. For instance, in January 2019, Shimadzu Medical Systems acquired Core Medical Imaging to expand its healthcare business in North America that strengthened its geographical expansion. Similarly, rising public and private investment, favorable demographic trends and increasing awareness related to the advantages of early diagnosis will propel the regional market growth.
Some of the prominent players operating in the medical X-ray market include Siemens Healthcare, GE Healthcare, Hitachi Medical, Hologic, Canon Medical Systems, Neusoft Medical Systems, Konica Minolta, and Carestream Health. The companies are undertaking various organic and inorganic growth strategies to garner higher market share.
Market, By Type
Market, By Technology
Market, By Portability
Market, By Application
Market, By End-use
The above information is provided for the following regions and countries: