Global Medical X-ray Market

Medical X-ray Market Size, Share, Growth Analysis, By Type(Standard Computed Tomography, Kidney, Ureter, Bladder X-rays), By Application(Medical Applications, General Radiography, Chest Imaging Applications, Orthopedic Applications), By End User(Hospitals, Diagnostic centers, Research Laboratories, Others), By Technology(Digital and CR/analog) - Industry Forecast 2024-2031

Report ID: SQMIG35A2599 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 126 | Figures: 77

Medical X-ray Market Dynamics

Medical X-ray Market Driver

  • Technical advancement in diagnostic imaging in developed countries

The radiography systems are more positively associated with technological breakthroughs. The development of new radiation sources and technologies using neutrons and X-rays is the result of advancements in radiographic systems in routine examinations (chest, neck/spine, and limbs), specialty services (dental and mammography), and emergency services (ICU, neonatal ICU, and hospital wards). The performance of X-ray exams has grown quickly as a result of such developments in diagnostic imaging, particularly in computed tomography (CT).

Medical X-ray Market Restraint

  • There are several adverse dangers associated with x-ray radiation. The body's cells could sustain damage from the x-ray radiations. The dangers associated with brief exposure to x-rays, such as a chest x-ray, are minimal. However, prolonged exposure to x-rays could turn the cells malignant. For instance, a National Center of Biotechnology Information (NCBI) article states that the cumulative risk of cancer from diagnostic x-rays for individuals 75 years and older is estimated to be 0.6 percent in the United Kingdom or roughly 700 instances. During the projected term, this is expected to hinder the growth of the market.
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Medical X-ray Market size was valued at USD 12.28 billion in 2019 and is poised to grow from USD 13 billion in 2023 to USD 21.79 billion by 2031, growing at a CAGR of 5.9% in the forecast period (2024-2031).

Medical X-ray Market is nearly consolidated and moderately competitive with some of the prominent players which are operating in the medical X-ray market including Siemens Healthcare, GE Healthcare, Hitachi Medical, Hologic, and Canon Medical Systems, strategic initiatives have helped them to maintain their financial stability in the market. 'Siemens Healthcare Private Limited (Germany)', 'GENERAL ELECTRIC COMPANY (US)', 'Koninklijke Philips N.V.', 'Canon Medical Systems Corporation', 'Carestream Health, Inc.', 'Shimadzu Corporation', 'Fujifilm Holdings Corporation', 'Hitachi, Ltd.', 'Hologic, Inc.', 'Samsung Medison Co., Ltd.', 'Agfa-Gevaert N.V.', 'Ziehm Imaging GmbH', 'Analogic Corporation', 'Allengers Medical Systems Limited', 'Eurocolumbus s.r.l.', 'BMI Biomedical International s.r.l.', 'Control-X Medical GmbH', 'Poskom Co., Ltd.', 'Varian Medical Systems, Inc.', 'Vieworks Co., Ltd.'

Technical advancement in diagnostic imaging in developed countries

Deep learning has received a lot of attention recently and has made remarkable progress in a number of areas. Deep learning integration in X-ray CT has established itself as an irreversible trend.

In 2021, North America dominated the market as a whole and generated the majority of worldwide revenue. The presence of numerous industry players and the frequent introduction of new products in the region are the main drivers of regional market expansion. Furthermore, many market players are now contributing to technologically advanced medical x-ray systems which are increasing the market growth in that region.

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Global Medical X-ray Market

Product ID: SQMIG35A2599