The global “medical x-ray market” size is expected to reach USD 16.86 billion by 2028. This information is published by Fortune Business Insights in its latest report, titled, “Medical X-ray Market, 2021-2028.” The report further observes that the market stood at USD 12.14 billion in 2020 and is projected to exhibit a CAGR of 4.4% between 2021 and 2028. The increasing demand for digital medical x-rays and the supportive government initiatives to create awareness among people are the factors attributed to the growth of the market in the forthcoming years.
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Major Medical X-ray Market Key players covered in the report include:
- Siemens Healthcare Private Limited (Erlangen, Germany)
- GENERAL ELECTRIC COMPANY (Illinois, United States)
- Carestream Health (New York, United States)
- Koninklijke Philips N.V. (Amsterdam, Netherlands)
- Shimadzu Corporation (Kyoto, Japan)
- CANON MEDICAL SYSTEMS CORPORATION (Tokyo, Japan)
- FUJIFILM Corporation (Stamford, Connecticut, United States)
- Varian Medical Systems, Inc. (California, United States)
- Other Prominent Players
Medical X-ray Market Analysis 2021:
Market Segmentation:
We have categorized the market on the basis of product type, technology type, application, end-user, and region. On the basis of type, the market is bifurcated into static and dynamic. Based on technology, the market is divided into analog and digital. Furthermore, based on application, the market is segregated into dental, veterinary, cardiovascular, oncology, others. Lastly, on the basis of region, the market is segmented into North America, Latin America. Europe, The Middle East and Africa, and Asia-Pacific.
DRIVING FACTORS:
Increasing Demand for Digital Medical X-rays to Augment Growth
In January 2021, European photonics scientists announced the development of a new autocorrect algorithm for image processing that reduces x-ray scatter to provide safe and low dose x-rays for children. In recent years, the healthcare sector has seen a gradual shift from analog to digital x-rays globally. The increasing adoption of digital x-rays owing to their faster and safer image processing response is expected to bode well for the global medical x-ray market growth in the forthcoming years. Additionally, supportive government initiatives to create awareness regarding early diagnosis of chronic diseases to reduce its fatality is expected to contribute to the growth of the market between 2021 and 2028.
Market to Exhibit a Year-on-Year Growth of 2.8% in 2021 amid COVID-19
According to an article published by the ScienceDirect, overall medical imaging volume in 2020 declined by about 12.2% compared to 2019 in the United States. The declining numbers are due to the either cancelled or postponed non-COVID procedures as per the guidelines of the government agencies in 2020. However, once the situation returns to normalcy and the resumption of medical procedures across several healthcare institutions, the global market will exhibit a positive growth during the forecast period.
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Further Report Findings:
- North America stood at USD 4.52 billion in 2020 and is expected to hold the highest position in the global market during the forecast period. This is attributable to the presence of several players in the region that are investing in the development of technologically advanced medical x-ray systems. For instance, in September 2020, Carestream Health, the U.S.-based company, announced the launch of an advanced DRX-Compass x-ray System to provide accurate and efficient x-rays for medical imaging centers and mid-tier hospitals globally.
- The market in Europe is expected to showcase considerable growth backed by the increasing incidence of chronic ailments such as cardiovascular diseases, cancer, and respiratory disorders in the region between 2021 and 2028.
- Based on the end-user, the diagnostic centers segment is expected to experience exponential growth and hold a significant medical x-ray market share during the forecast period. This is ascribable to factors such as increasing reliability on these types of centers that provide accurate and efficient results and the presence of skilled healthcare professionals globally.
COMPETITIVE LANDSCAPE
Market Players Focus on Merger and Acquisition to Intensify Industry Competition
The global market for medical x-ray is consolidated by the presence of major companies striving to maintain their presence. These companies are strategically acquiring other smaller companies to expand their product portfolio and gain a competitive edge over their rivals. Other key players in the market are striving to maintain a stronghold by adopting strategies such as partnerships and collaboration during the forecast period.
Industry Development:
June 2020 – Siemens Healthineers unveiled the world’s first-ever intelligent x-ray system with integrated AI. According to the company, the system can be adopted for efficiently optimizing the daily routine of image acquisition in radiography.
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Table of Content:
1 Medical X-ray Market Overview
1.1 Medical X-ray Product Overview
1.2 Medical X-ray Market Segment by Type
1.3 Global Medical X-ray Market Size by Type (2015-2027)
1.3.1 Global Medical X-ray Market Size Overview by Type (2015-2027)
1.3.2 Global Medical X-ray Historic Market Size Review by Type (2015-2021)
1.3.2.1 Global Medical X-ray Sales Market Share Breakdown by Type (2015-2027)
1.3.2.2 Global Medical X-ray Market Share Breakdown by Type (2015-2027)
1.3.2.3 Global Medical X-ray Average Selling Price (ASP) by Type (2015-2027)
1.3.3 Global Medical X-ray Market Size Forecast by Type (2021-2027)
1.3.3.1 Global Medical X-ray Sales Market Share Breakdown by Application (2021-2027)
1.3.3.2 Global Medical X-ray Revenue Market Share Breakdown by Application (2021-2027)
1.3.3.3 Global Medical X-ray Average Selling Price (ASP) by Application (2021-2027)
1.4 Key Regions Market Size Segment by Type (2015-2021)
1.4.1 North America Medical X-ray Sales Breakdown by Type (2015-2027)
1.4.2 Europe Medical X-ray Sales Breakdown by Type (2015-2027)
1.4.3 Asia-Pacific Medical X-ray Sales Breakdown by Type (2015-2027)
1.4.4 Latin America Medical X-ray Sales Breakdown by Type (2015-2027)
1.4.5 Middle East and Africa Medical X-ray Sales Breakdown by Type (2015-2027)
2 Global Medical X-ray Market Competition by Company
2.1 Global Top Players by Medical X-ray Sales (2015-2021)
2.2 Global Top Players by Medical X-ray Revenue (2015-2021)
2.3 Global Top Players Medical X-ray Average Selling Price (ASP) (2015-2021)
2.4 Global Top Company Medical X-ray Manufacturing Base Distribution, Sales Area, Product Type
2.5 Medical X-ray Market Competitive Situation and Trends
2.5.1 Medical X-ray Market Growth Rate (2015-2021)
2.5.2 Global 5 and 10 Largest Company by Medical X-ray Sales and Revenue in 2019
2.6 Global Top Company by Company Type (Tier 1, Tier 2 and Tier 3) (based on the Revenue in Medical X-ray as of 2019)
2.7 Date of Key Company Enter into Medical X-ray Market
2.8 Key Company Medical X-ray Product Offered
2.9 Mergers and Acquisitions, Expansion
3 Global Medical X-ray Status and Outlook by Region (2015-2027)
3.1 Global Medical X-ray Market Size and CAGR by Region: 2015 VS 2021 VS 2027
3.2 Global Medical X-ray Market Size Market Share by Region (2015-2021)
3.2.1 Global Medical X-ray Sales Market Share by Region (2015-2021)
3.2.2 Global Medical X-ray Revenue Market Share by Region (2015-2021)
3.2.3 Global Medical X-ray Sales, Revenue, Price and Gross Margin (2015-2021)
3.3 Global Medical X-ray Market Size Market Share by Region (2021-2027)
3.3.1 Global Medical X-ray Sales Market Share by Region (2021-2027)
3.3.2 Global Medical X-ray Revenue Market Share by Region (2021-2027)
3.3.3 Global Medical X-ray Sales, Revenue, Price and Gross Margin (2021-2027)
3.4 North America Medical X-ray Market Size By Growth (2015-2027)
3.4.1 North America Medical X-ray Revenue By Growth (2015-2027)
3.4.2 North America Medical X-ray Sales By Growth (2015-2027)
3.5 Asia-Pacific Medical X-ray Market Size By Growth (2015-2027)
3.5.1 Asia-Pacific Medical X-ray Revenue By Growth (2015-2027)
3.5.2 Asia-Pacific Medical X-ray Sales By Growth (2015-2027)
3.6 Europe Medical X-ray Market Size By Growth (2015-2027)
3.6.1 Europe Medical X-ray Revenue By Growth (2015-2027)
3.6.2 Europe Medical X-ray Sales By Growth (2015-2027)
3.7 Latin America Medical X-ray Market Size By Growth (2015-2027)
3.7.1 Latin America Medical X-ray Revenue By Growth (2015-2027)
3.7.2 Latin America Medical X-ray Sales By Growth (2015-2027)
3.8 Middle East and Africa Medical X-ray Market Size By Growth (2015-2027)
3.8.1 Middle East and Africa Medical X-ray Revenue By Growth (2015-2027)
3.8.2 Middle East and Africa Medical X-ray Sales By Growth (2015-2027)
4 Global Medical X-ray by Application
4.1 Medical X-ray Segment by Application
4.1.1 Residential
4.1.2 Commercial
4.2 Global Medical X-ray Sales by Application: 2015 VS 2021 VS 2027
4.3 Global Medical X-ray Historic Sales by Application (2015-2021)
4.4 Global Medical X-ray Forecasted Sales by Application (2021-2027)
4.5 Key Regions Medical X-ray Market Size by Application
4.5.1 North America Medical X-ray by Application
4.5.2 Europe Medical X-ray by Application
4.5.3 Asia-Pacific Medical X-ray by Application
4.5.4 Latin America Medical X-ray by Application
4.5.5 Middle East and Africa Medical X-ray by Application
5 North America Medical X-ray Market Size by Country (2015-2027)
5.1 North America Market Size Market Share by Country (2015-2021)
5.1.1 North America Medical X-ray Sales Market Share by Country (2015-2021)
5.1.2 North America Medical X-ray Revenue Market Share by Country (2015-2021)
5.2 North America Market Size Market Share by Country (2021-2027)
5.2.1 North America Medical X-ray Sales Market Share by Country (2021-2027)
5.2.2 North America Medical X-ray Revenue Market Share by Country (2021-2027)
5.3 North America Market Size By Growth by Country
5.3.1 U.S. Medical X-ray Market Size By Growth (2015-2027)
5.3.2 Canada Medical X-ray Market Size By Growth (2015-2027)
6 Europe Medical X-ray Market Size by Country (2015-2027)
6.1 Europe Market Size Market Share by Country (2015-2021)
6.1.1 Europe Medical X-ray Sales Market Share by Country (2015-2021)
6.1.2 Europe Medical X-ray Revenue Market Share by Country (2015-2021)
6.2 Europe Market Size Market Share by Country (2021-2027)
6.2.1 Europe Medical X-ray Sales Market Share by Country (2021-2027)
6.2.2 Europe Medical X-ray Revenue Market Share by Country (2021-2027)
6.3 Europe Market Size By Growth by Country
6.3.1 Germany Medical X-ray Market Size By Growth (2015-2027)
6.3.2 France Medical X-ray Market Size By Growth (2015-2027)
6.3.3 U.K. Medical X-ray Market Size By Growth (2015-2027)
6.3.4 Italy Medical X-ray Market Size By Growth (2015-2027)
6.3.5 Russia Medical X-ray Market Size By Growth (2015-2027)
7 Asia-Pacific Medical X-ray Market Size by Country (2015-2027)
7.1 Asia-Pacific Market Size Market Share by Country (2015-2021)
7.1.1 Asia-Pacific Medical X-ray Sales Market Share by Country (2015-2021)
7.1.2 Asia-Pacific Medical X-ray Revenue Market Share by Country (2015-2021)
7.2 Asia-Pacific Market Size Market Share by Country (2021-2027)
7.2.1 Asia-Pacific Medical X-ray Sales Market Share by Country (2021-2027)
7.2.2 Asia-Pacific Medical X-ray Revenue Market Share by Country (2021-2027)
7.3 Asia-Pacific Market Size By Growth by Country
7.3.1 China Medical X-ray Market Size By Growth (2015-2027)
7.3.2 Japan Medical X-ray Market Size By Growth (2015-2027)
7.3.3 South Korea Medical X-ray Market Size By Growth (2015-2027)
7.3.4 India Medical X-ray Market Size By Growth (2015-2027)
7.3.5 Australia Medical X-ray Market Size By Growth (2015-2027)
7.3.6 Taiwan Medical X-ray Market Size By Growth (2015-2027)
7.3.7 Indonesia Medical X-ray Market Size By Growth (2015-2027)
7.3.8 Thailand Medical X-ray Market Size By Growth (2015-2027)
7.3.9 Malaysia Medical X-ray Market Size By Growth (2015-2027)
7.3.10 Philippines Medical X-ray Market Size By Growth (2015-2027)
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