Pune, India, July 27, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global Medical X-ray Market Size was valued at USD 13.54 billion in 2022 and is projected to grow from USD 14.24 billion in 2023 to USD 21.10 billion by 2030, exhibiting a CAGR of 5.8% during the forecast period.
The expansion is being propelled by the soaring product adoption impelled by the latest advancements such as safety, low radiation frequency compared to analog systems, and the quick transfer of images.
This information is provided by Fortune Business Insights™ in its research report titled Medical X-ray Market, 2023-2030.
Key Industry Development-
April 2022 – Gati Diagnostic Center Pvt. Ltd., Sikar, added the Carestream DRX-Compass to its diagnostics repertoire. The investment allowed Gati Diagnostic to become a fully-fitted diagnostic center.
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Key Takeaways –
- Medical X-ray Market size in Asia Pacific was USD 4.97 billion in 2022
- The market growth is driven by the significant role of technological advancements in medical x-ray systems.
- Digitalization, mobile systems, and smaller devices are driving x-ray system innovation.
- The digital segment is expected to hold a major market share during the projected period.
Discover the Leading Players Featured in the Report-
- Carestream Health (U.S.)
- GE Healthcare (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- CANON MEDICAL SYSTEMS CORPORATION (Japan)
- FUJIFILM Holdings Corporation (Japan)
- Siemens Healthcare GmbH (Germany)
- Shimadzu Corporation (Japan)
- SAMSUNG ELECTRONICS CO., LTD. (South Korea)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 5.8% |
| 2030 Value Projection | USD 21.10 Billion |
| Base Year | 2022 |
| Medical X-ray Market Size in 2022 | USD 13.54 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 181 |
| Segments covered | Product, Technology, Application and Geography |
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Drivers & Restraints:
Rise in the Number of X-ray Examinations to Propel Industry Growth
The medical x-ray market growth is being impelled by the rising burden of chronic diseases. The surging prevalence of these conditions is leading to the escalating demand for efficient and cost-effective diagnostic tools.
However, the industry expansion may be hampered by growing concerns associated with radiation exposure.
Segmentation:
By Product Type
- Static
- Dynamic
By Technology
- Digital
- CR/Analog
By Application
- Dental
- Veterinary
- Cardiovascular
- Oncology
- Others
By End-user
- Hospitals & Clinics
- Diagnostic Centers & Others
Regional Insights:
Asia Pacific to Hold Prominent Share Impelled by Surging Development of Digitally Advanced Systems
Asia Pacific medical x-ray market share is estimated to register notable growth throughout the forecast period. The expansion is driven by the escalating government initiatives for the development of digitally advanced systems.
The North America market is poised to expand at a notable CAGR over the study period. The surge is propelled by the increasing number of emergency patient visits across healthcare centers in the U.S.
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Competitive Landscape:
Major Players Roll out New Products to Strengthen Industry Footing
Leading industry players are centered on adopting a range of strategic initiatives for strengthening their market positions. These comprise acquisitions, partnership deals, and the rollout of new solutions. Many companies are also undertaking research activities and participating in medical and trade conferences for enhancing their business prospects.
FAQs
How big is the Medical X-ray Market?
Medical X-ray Market size was USD 13.54 billion in 2022. It is expected to reach USD 21.10 billion in 2030.
How fast is the Medical X-ray Market growing?
The Medical X-ray Market will exhibit a CAGR of 5.8% during the forecast period, 2023-2030.
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