Diagnostic X-ray Market Size & Share, by Product (Digital, Analog, Retrofit); Component (Detectors, Generators, Work Stations, Software); Technology (Film-based Radiography, Computed Radiography, Direct Radiography); Portability (Fixed and Portable); End-User (Hospitals, Diagnostic Centres, Mobile Imaging Centres) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 868
  • Published Date: Oct 07, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Diagnostic X-ray Market size was valued at USD 11.93 billion in 2023 and is set to exceed USD 26.08 billion by 2036, expanding at over 6.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of diagnostic x-ray is estimated at USD 12.52 billion.

Significant rise in R&D activities and various technological advancements in the healthcare sector, along with the rise in several approvals regarding healthcare diagnostic products are anticipated to boost the market growth. Additionally, rise in demand for better imaging techniques and the application of radiography imaging products has been observed, owing to the recent surge in the incidence of chronic diseases such as Alzheimer’s disease, arthritis, cancer, COPD, cystic fibrosis, and diabetes. This is an instance of the positive impact rendering factors driving the market growth during the forecast period.

Major end-users are adopting new and developed imaging techniques subsequently and key market players are moving towards the growth of the market. This integration is expected to introduce high-resolution imaging technologies along with advanced and effective X-rays devices that can substitute conventional ones and boost market growth during the forecast period. Improved quality of image output is expected to enhance the diagnosis accuracy in the early stages of several diseases. The accurate, efficient, and effective diagnosis can help in the treatment of various life-threatening diseases such as cancer, diabetes, and various cardiovascular diseases. This major advantage can be attributed to result in a significantly positive impact on market growth. Additionally, developing economies such as India and China are increasing are focusing on providing cost-effective and accurate medical imaging solutions and diagnostics by adapting various new imaging technologies. 

 


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Diagnostic X-ray Sector: Growth Drivers and Challenges

Growth Drivers

  • Technological advancements in diagnostic imaging in developed countries
    Technological advancements and substantial transformations in the medical industry are providing better and cost-effective solutions. The digital imaging process has transformed the medical field by offering better quality images, faster processing, and cost-effective advantages over conventional X-rays systems. High-tech, accurate, and more affordable diagnostic X-ray developed by key players will further boost the market growth. These are some key factors that are projected to raise the demand for diagnostic X-ray systems in the coming years.
  • Rising prevalence of injuries occurring worldwide
    In 2017, about 2.8 million nonfatal injuries were recorded according to the Survey of Occupational Injuries and Illnesses (SOII).

    Rising numbers of injuries, accidents, severe muscle damages, bone fractures, and other muscle damages worldwide are estimated to drive the diagnostic devices and equipment market, especially the X-rays systems devices market. With the increase in number of accidents and injuries globally, the number of medical diagnostic services such as blood tests, and X-rays has further increased. Such a factor is anticipated to drive the growth of the diagnostic x-ray market.
  • The growing number of diagnostic imaging procedures
    The growing cases of chronic diseases such as Alzheimer’s disease, cancer, cystic fibrosis, neurological diseases, and musculoskeletal disorders are predicted to drive the diagnostic X-ray system growth during the forecast period. Increasing patient preference towards X-rays for their non-invasive and painless diagnosis are factors further anticipated to increase the demand for diagnostic imaging procedures. Moreover, the effective diagnostic X-ray system for easy and accurate imaging outputs will boost the market growth in the coming future.

Challenges

  • Risk of high radiation exposure
    According to a worldwide survey in 2015 done by NCBI on radiation overexposure accidents, it was found that around 2390 people were overexposed to radiation, out of which 190 died.

    The risk of high radiation exposure and its hazardous effect is estimated to hinder the market growth. The use of electromagnetic waves in diagnostic X-ray imaging procedures releases particles called 'ionizing radiation'. This radiation coming from X-ray machines carry major health hazards issues. Even low doses of radiation, in the long run, can cause cancer. Such a factor is estimated to hinder the growth of the m market during the forecast period.
  • High cost associated with the installation of medical imaging modalities
    Sustainable advanced technologies come at a cost. Owing to the high price of both installation and products, the diagnostic x-ray market growth is anticipated to be restricted tremendously, thereby affecting the requirement for a diagnostic X-ray system.

 

Diagnostic X-ray Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

6.2%

Base Year Market Size (2023)

USD 11.93 billion

Forecast Year Market Size (2036)

USD 26.08 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
 
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Diagnostic X-ray Segmentation

Our in-depth analysis of the global market includes the following segments:

           Product

  • Digital
  • Analog
  • Retrofit

             By Component Type

  • Detectors
  • Generators
  • Work Stations
  • Software

 

 

           By Technology Type

  • Film-based Radiography
  • Computed Radiography
  • Direct Radiography

           By Portability Type

  • Fixed
  • Portable

           By End-User Type

 

  • Hospitals
  • Diagnostic Centres
  • Mobile Imaging Centres
 

 

 


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Diagnostic X-ray Industry - Regional Synopsis

On the basis of regional analysis, the diagnostic x-ray market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

Based on region segment, the market in North America industry is predicted to dominate majority revenue share by 2036, impelled by high adoption of technology and demand for improved infrastructure in healthcare facilities, along with increasing demand for diagnostic equipment in the region. Additionally, a strong foothold of major industry players in North America focusing on research & development and innovative product launch are anticipated to positively impact market growth. The market in Asia Pacific is anticipated to observe the highest growth rate over the forecast period mainly owing to the surge in numbers of chronic disease patients. The presence of large patient pools in densely populated nations such as India and China, along with the government support to the healthcare industry will act as the primary growth driver in the Asia-Pacific region.

 

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Companies Dominating the Diagnostic X-ray Landscape

    • GENERAL ELECTRIC COMPANY
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Siemens Healthcare Private Limited
    • Koninklijke Philips N.V
    • Shimadzu Corporation
    • FUJIFILM Corporation
    • GMM
    • Allengers
    • Hitachi, Ltd.
    • Carestream Health
    • CANON MEDICAL SYSTEMS CORPORATION

Author Credits:  Radhika Pawar


  • Report ID: 868
  • Published Date: Oct 07, 2024
  • Report Format: PDF, PPT
Diagnostic X-Ray System Market Report Scope
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