Global Radiography Systems Market Report 2022: Increasing Use of Ai-Enabled Diagnostic Equipment for Rapid Diagnosis and Predictive Analysis Bolsters Growth

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Apr 05, 2023, 05:45 ET

DUBLIN, April 5, 2023 /PRNewswire/ -- The "Global Radiography Systems Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Type, Application, End User and Regions" report has been added to ResearchAndMarkets.com's offering.

According to this analysis, the Global Radiography Systems Market was valued at ~US$ 25 billion in 2017, it is estimated to be ~US$ 30 billion in 2022 and is expected to grow at a ~5% CAGR during 2022 to 2028, with market size of ~US$ 40 billion in 2028. The rise in the prevalence of chronic diseases such as cancer, diabetes, cardiovascular disease, neurology disorders, and others, combined with advancements in healthcare systems, has resulted in an increased emphasis on early detection.

Increasing use of AI-enabled diagnostic equipment for rapid diagnosis and predictive analysis, notably in developed countries is one of the major contributing factors to the rising demand for radiography systems.

The increasing prevalence of osteoarthritis worldwide, combined with the growing need to diagnose, monitor, and treat health conditions, such as pregnancy, swelling or infection in internal organs, spinal injuries, dental issues, and tendon/ligament tears, is likely to drive market growth in the forthcoming years.

High prices for medical imaging tests and limited access to critical infrastructure, particularly in developing countries, are expected to stifle market growth.

The ongoing COVID-19 pandemic has adversely affected the global radiography systems market in 2020, primarily due to a decline in patient visits to hospitals and clinics. However, Computed Tomography (CT) scanners witnessed a higher demand in 2020, owing to the need for High-Resolution CT (HRCT) scans for the diagnosis of COVID-19 patients through chest scans.

Scope of the Report

The Radiography Systems Market is segmented by Type, Application, and End-User. In addition, the report also covers the market size for each of the four regions' Radiography systems market. The revenue used to size and forecast the market for each segment is US$ billion.

By Type:

X-Ray Devices
Ultrasound Systems
Computed Tomography (CT) Scanners
Magnetic Resonance Imaging (MRI) Equipment
Nuclear Imaging Equipment

By Application:

Cardiology
Neurology
Orthopedics
Gynecology
Oncology

By End User:

Hospitals and Clinics
Specialty Clinics
Diagnostic Imaging Centers

By Geography:

North America (USA, Canada, Mexico)
Europe (Germany, UK, Italy, France, Spain, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, Rest of Asia Pacific)
LAMEA (Latin America, Middle East, Africa)
Key Players:
General Electric Company
Hitachi Medical Corporation
Siemens Healthcare GmbH
Koninklijke Philips N.V
Samsung Medison Co. Ltd
Fujifilm Holdings Corporation
Hologic, Inc
Shimadzu Corporation
Canon Medical Systems Corporation
Agfa-Gevaert Group
Carestream Health
Esaote

Key Trends by Market Segment

By Type: TheX-Ray Devices segment held the largest market share of the Global Radiography systems Market in 2021, owing to the increase in the demand for early-stage diagnosis of chronic diseases, such as lung infection, breast cancer, enlarged heart, and blocked blood vessels

The ongoing COVID-19 pandemic has also propelled the demand for x-ray systems across countries due to an increase in the number of COVID patients undergoing chest testing

Increasing the use of interventional x-ray systems, including C-arms for image-guided surgeries, is also expected to boost x-ray system market growth.

By Application: The Cardiology segment held the largest market share of the Global Radiography systems Market in 2021, primarily due to the surge in the prevalence of cardiovascular disease.

The growing geriatric population exacerbates the need for healthcare products and services as such population is more vulnerable to diseases, such as respiratory (tuberculosis and pneumonia), oral, orthopedic (osteoporosis), and cardiovascular diseases.

The ubiquity of high blood pressure among individuals across countries is also contributing to the demand for cardiac radiography systems, as high blood pressure constitutes one of the most important risk factors for cardiovascular disease.

By End User: The Hospitals and Clinics segment accounted for the majority share of the Global Radiography systems Market in 2021.

The continuous development in the healthcare industry across countries has raised the requirement for hospitals with advanced techniques and facilities.

The growing number of chronic diseases tested during the assessments and processing of body fluids, particularly following the worldwide explosion of the COVID-19 pandemic, are another major factor influencing the demand for radiography systems in hospitals and clinics.

By Geography: North America accounted for the largest market share in the global radiography systems market in 2021.

The growth is mainly attributed to increased technological adoption in diagnostic techniques, extensive research initiatives, and regulatory science activities across the healthcare industry, especially in countries such as USA, and Canada.

The region's developed healthcare and hospital infrastructure is also a major factor behind the expansion of radiography systems.

Recent Developments Related to Major Players and Organizations

In July 2022, Fujifilm, a Japanese photography company, launched a hybrid c-arm and portable x-ray solution in Europe, with the intention of providing high-quality fluoroscopic and static x-ray images during surgery and other medical procedures
In April 2022, Unilabs, a European company that provides diagnostic services, collaborated with GE Healthcare, a U.S.-based company that offers medical technology and digital solutions, to provide advanced radiography systems and imaging services, including MRI and CT scanning technology, ultrasound devices, mammography, and X-ray machines, and innovative imaging fleet services in Portugal

Conclusion

The global Radiography systems market is forecasted to continue an exponential growth that is witnessed since 2017. The major driving factor contributing to the expansion of radiography systems is a rise in the prevalence of chronic diseases such as cancer, diabetes, cardiovascular disease, neurology disorders, and others, combined with advancements in healthcare systems. Though the market is highly competitive with ~100 participants, few global players control the dominant share and regional players also hold a significant share.

Key Topics Covered in the Report

Snapshot of the Global Radiography Systems Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Radiography Systems Market
Historic Growth of the Overall Global Radiography Systems Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of the Global Radiography Systems Industry
Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
Covid-19 Impact on the Overall Global Radiography Systems Market
Future Market Forecast and Growth Rates of the Total Global Radiography Systems Market and by Segments
Market Size of Product Type, Application, and End User Segments with Historical CAGR and Future Forecasts
Analysis of the Global Radiography Systems Market
Major Production/Supply and Consumption/Demand Hubs within Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Region
Axis-Shield Diagnostics Ltd
CMR Naviscan
Analogic Corporation
Cerner Corporation
Mindray
Oracle Cerner
F. Hoffmann-La Roche Ltd
Medtronic PLC

Frequently Asked Questions

What is the Study Period of this Market Report?
The Global Radiography systems Market is covered from 2017-2028 in this report, including a forecast for 2022-2028

What is the Future Growth Rate of the Global Radiography Systems Market?

The Global Radiography Systems Market is expected to witness a CAGR of about ~5% over the next 6 years

What are the Key Factors Driving the Global Radiography Systems Market?

The increasing use of AI-enabled diagnostic equipment for rapid diagnosis and predictive analysis, notably in developed countries

Which is the Largest Application Segment within the Global Radiography Systems Market?

The cardiology segment held the largest share of the Global Radiography systems Market in 2021

A selection of companies mentioned in this report includes

Key Players
General Electric Company
Hitachi Medical Corporation
Siemens Healthcare GmbH
Koninklijke Philips N.V.
Samsung Medison Co. Ltd
Fujifilm Holdings Corporation
Hologic, Inc.
Shimadzu Corporation
Canon Medical Systems Corporation
Agfa-Gevaert Group
Carestream Health
Esaote
Axis-Shield Diagnostics Ltd.
CMR Naviscan
Analogic Corporation
Cerner Corporation
Mindray
Oracle Cerner
F. Hoffmann-La Roche Ltd.,
Medtronic PLC

For more information about this report visit https://www.researchandmarkets.com/r/hzdn1n

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