Medical X-ray Market Size By Product (Flat Panel Detectors, Line Scan Detectors, Computed Radiography Detectors, Charge Coupled Device Detectors [CCD]), By Technology (Computed Radiography [CR], Direct Radiography [DR], Others), By Portability (Fixed Systems, Portable Systems), By Application (Dental, Veterinary, Mammography, Chest, Cardiovascular, Orthopaedics, Others), By End-use (Diagnostic Centers, Hospitals, Others) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, China, India, Japan, Brazil, Mexico, South Africa, UAE), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Published Date: Dec 2017 | 200 Pages | Report ID: GMI2294 | Authors: Sumant Ugalmugale, Shradha Mupid Report Format: PDF
Medical X-ray Market size was valued at USD 9.9 billion in 2016 and it is projected to witness more than 6.0% CAGR from 2017 to 2024.
U.S. Medical X-ray Market, By Product, 2016 (USD Million)
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Growing incidence of chronic diseases coupled with rising number of diagnostic imaging procedures and technological advancements in imaging systems should drive medical x-ray market growth over the forecast period. X-ray is very useful for detection and treatment of neurological problems, cancer, cardiac diseases and bone related problems. These problems will increase demand for the product over the forecast period.
Rising geriatric population base across the world undertaking x-ray examination has increased significantly. As aging population is more prone to chronic diseases will further drive industry growth. However, high cost associated with installation for medical imaging systems and increased risk of exposure to high radiation among patients may restrain business growth.
Technological advancement in detector-based digital radiography and mammography should provide growth opportunities for medical x-ray in the coming years. Benefits associated with digital radiology includes quick access to images and identify various types and shape of tumor in living tissue. Medical Imaging Technology report include aspects of image formation in modern imaging and address the instruments, techniques and innovative materials used in such rapid changing technology.
Medical X-ray Market, By Product
Flat panel detectors held major revenue share in 2016 and will continue to dominate the medical x-ray market during the forecast period. Flat panel detectors are widely used in the field of cardiologic angiography, mammography and radiography should increase demand for the product. Advancement in R&D efforts that contributes to make the product affordable will drive industry growth.
Computed radiography detectors should witness significant growth over the forecast period. The growth is attributed due to its use for bedside radiographic study. Its image quality is much better on large body parts, that includes abdomen and chest.
Medical X-ray Market, By Technology
Computed radiography accounted for highest revenue share in 2016. Rising geriatric population, continuous advancement in digital imaging modalities and introduction of new equipment by industry players are the key factors which will drive segment growth. Direct (digital) radiography will growth at highest CAGR of 6.7% due to increased application in chest imaging, dental, mammography, and orthopaedic. Moreover, ease of operating with mobile systems should increase demand for the technology in the coming years.
Medical X-ray Market, By Portability
Medical x-ray market, by portability is categorized into portable and fixed systems. The fixed segment held major revenue share in 2016, due to increasing government investments for installation of advanced diagnostic equipment. Moreover, it is mostly used to address imaging demand in all clinical settings.
Portable systems should contribute should witness lucrative growth over the forecast period. Rising geriatric population with mobility problems and increasing R&D funding by companies and government for portable systems should drive business growth.
Medical X-ray Market, By Application
Chest application contributed for major revenue share in 2016, due to wide-range of applications. Chest x-ray is performed to diagnose symptoms such as, fever, persistent cough, breathing difficulties, and chest injury. Moreover, chest x-ray is also used to diagnose and monitor treatment such as, lung cancer, pneumonia, emphysema and heart problems. It is also used in the placement of medical devices that includes catheter, pacemaker or defibrillator.
Cardiovascular segment should experience significant growth. The growth is attributed due to growing incidence rates of cardiac diseases owing to unhealthy eating habits and lack of physical exercise. Moreover, technological advancements and rising awareness levels of cardiac diseases will further propel industry growth.
Medical X-ray Market, By End-Use
Diagnostic centers accounted for major revenue share in 2016 and will continue to dominate its position over the forecast timeframe. Diagnostic centers provide treatment at low cost as compared to hospitals due to high operational efficiency which will propel industry growth. Moreover, rate of hospital acquired infections in diagnostic centers are far less than hospitals.
Medical X-ray Market, By Region
U.S. accounted for highest revenue share in medical x-ray market in the coming years owing to presence of sophisticated healthcare facilities, growing number of medical imaging procedures coupled with development and increased use of computer technology. Moreover, implementation of digital radiography, reduction in payments for examination performed on analog x-ray systems in 2017 should further drive business growth over the forecast period.
UK medical x-ray market size should contribute for significant growth over the forecast period. Growth is attributed due increasing research and development activities, rising demand for early diagnosis coupled with low waiting times for test results should drive industry growth.
Asia Pacific should witness lucrative growth over the forecast timeframe. Rising prevalence of chronic diseases such as, cardiovascular diseases (CVDs), asthma, lung and breast cancers that needs diagnosis and treatment should fuel demand for medical x-ray. Moreover, growing incidence of bone injuries will further drive industry growth.
Competitive Market Share
Some of the major players in medical x-ray market includes GE Healthcare, Philips Healthcare, Hitachi Medical, Siemens Healthcare, Canon and Shimadzu. Companies mainly focus on new product launch, research and development activities, acquisition and collaborations strategy. New product launch will help companies to introduce innovative solutions and stay ahead in the competition.
Medical X-ray Industry Background
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Technological advancement in detector-based digital radiography in x-ray use various types of flat panel detectors. Advancement in detector technology for digital radiography systems, offer improved image quality, ease of handling equipment and enhance image throughput. Radiation Emitting Devices (RED) Act manage sale, lease and import of certain radiation emitting devices used for medical and industrial purpose. The Radiation Emitting Devices Regulation recommend safety performance. In 2017, Medicare payments is predicted to reduce by 20% for providers who submit claim for examination with analog x-ray under the provision Consolidated Appropriations Act.
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