Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global X-ray market was valued at US$ 8,807.5 million in 2018 and is projected to exhibit a CAGR of 7.8% over the forecast period (2020– 2027).
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Growing incidence of fractures, orthopedic disorders, and cancer, along with technological advancements in X-ray systems for image quality improvement, is predicted to significantly propel the growth of the global X-ray market in the foreseeable future. The introduction of innovative X-ray systems is another vital growth driver for the global market. For instance, in October 2017, Siemens Healthineers launched new Cios Spin, a mobile C-arm in the U.S.
Moreover, with high generative power, the X-ray systems are capable of scanning the solid parts of the body, such as the hip, as well as the more dense tissue in obese patients. Such advancements have enabled easy and immediate viewing of images on the screen, which in turn has shifted the trend from conventional X-ray techniques to digital X-ray technique, as it does not a require processing before it can be viewed. Computed tomography (CT) scans are highly valuable during emergency cases, as they provide quick information while assessing strokes, heart diseases, and brain injuries.
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In April 2017, Toshiba Medical introduced the new Aquilion Lightning computed tomography (CT), which provides high-quality images and aids in faster diagnosis. However, continuous exposure to the ionizing radiation, causes cell mutations, which results in an augmented risk of cancer. Therefore, this is factor that poses a major threat to the global market development.
Key Takeaways of the Global X-ray Market:
- Asia Pacific, Latin America, and North America are foreseen to lead the global X-ray market, on account of the escalating prevalence of osteoporosis and introduction of novel technologies in these regions.
- Based on modality, the portable segment is expected to gain traction over the forecast period, as portable devices are time-saving and reduce the chances of contracting hospital-acquired infections (HAIs).
- The digital radiography segment is expected to exhibit rapid growth, as digital radiography reduces radiation exposure and improves the ability to detect diseases.
- The hospital’s end-user segment would potentially lead the global X-ray market in the forthcoming years, with the burgeoning prevalence of cancer, fractures, and orthopedic disorders across the globe.
- The well-known players operating in the global X- ray market include Siemens AG, Toshiba Medical Systems, Hitachi Medical Corporation, Shimadzu Corporation, Carestream Healthcare, Philips Healthcare, Canon, Inc., GE Healthcare, Bracco Imaging S.p.A, and Hologic, Inc.
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