The growing geriatric population and increasing prevalence of chronic diseases is expected to drive the market for x-ray imaging.
The global X-Ray Imaging market is forecast to reach USD 16.05 Billion by 2028, according to a new report by Reports and Data. X-ray imaging systems are important tools that improve healthcare by diagnosing several injuries, diseases, and fractures.
Technological advancement has led to the development of novel processes and devices. Digitalization of x-ray imaging has made data storage possible in digital signals. Large area detection, low dose imaging, and high energy resolution are transforming X-ray imaging technologies. The X-ray imaging market is expected to have cheaper hardware, high resolutions, and less harmful smaller doses of ionizing agent in the coming years.
The healthcare expenditure is expected to increase in the global platform, owing to the rising government and non-government initiatives and the growing prevalence of diseases. The increase in the market is due to a rise in accessibility and affordability of the x-ray imaging procedure for various medical conditions. Moreover, growing tie-ups between government bodies and research institutes, along with the presence of numerous manufacturers, are considered to be a high rendering factor of this industry. The growing prevalence of dental and cardiovascular diseases increases the need for x-ray imaging. This helps in increasing the demand for the global demand of the x-ray imaging market.
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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches, brand promotions, and corporate deals, among others.
Key companies operating in the market and profiled in the report include:
Siemens AG, Hitachi Ltd., Carestream Health, Inc., Koninklijke Philips N.V., General Electric Company, Hologic Inc., Canon, Inc., FUJIFILM Holdings Corporation, Shimadzu Corporation, and Esaote S.P.A, among others.
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The X-Ray Imaging market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.
Segments Covered in the report
Portability Outlook (Revenue, USD Billion; 2018-2028)
- Stationary
- Portable
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Analog X-ray Imaging
- Digital X-ray Imaging
Application Outlook (Revenue, USD Billion; 2018-2028)
- Orthopedic X-ray Imaging
- Chest X-ray Imaging
- Dental X-ray Imaging
- Mammography X-ray Imaging
End Users Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Diagnostic Clinics
Key Regions Analyzed in the Report include:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
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Furthermore, it consists information about individual segment of the X-Ray Imaging market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
Further key findings from the report suggest
- The digital x-ray imaging segment accounted for more than half of revenues and is expected to show profitable growth during the forecast period. The growth of the segment is attributed to the advantages offered by digital systems, including image enhancement, speed of execution, and digital image transfer. Moreover, these digital X-rays provide real-time images and enable a more accurate diagnosis.
- Stationary x-ray systems held a larger market share in the year 2020, but its demand is expected to drop and be replaced with portable x-ray imaging systems. X-ray imaging machines are huge and heavy to move around. The constant movement of the system is not possible by the staff administering the procedure.
- Digital x-ray systems are less bulky, are wireless, takes up less space in the office, and with technological advancement, they are becoming portable and more versatile. Digital x-ray imaging is more efficient and effective systems that help provide a superior patient experience.
- North America dominated the market for x-ray imaging. Existing established healthcare infrastructure, state of the art equipment, highly skilled professionals, and investment in research and development is boosting market demand in the region. Moreover, rapidly growing geriatric population will also propel market demand. According to the 2020 U.S. Census Bureau report, 78 million people are expected to be above 65 years old by the year 2035 in the country.
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