X-Ray Equipment Market to grow by USD 14.97 billion by 2027 with a CAGR of 6.2% between 2022 to 2027; Market Size, Share & Trends Analysis Report -Technavio
NEW YORK , Jan. 11, 2024 /PRNewswire/ -- The X-ray equipment market is expected to grow by USD 3.88 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 6.2% during the forecast period, according to Technavio Research. The market has been segmented by technology (digital and analog), end-user (hospitals and diagnostic imaging centers), and geography (North America, Europe, Asia, and the Rest of the World (ROW)). The growing demand for non-invasive diagnostic devices is a key factor driving market growth. This rise compels advanced technologies like digital radiography equipment, Computed tomography (CT) scanners, and fluoroscopy equipment. The demand for portable X-ray machines and mobile X-ray units rises, aligning with medical imaging devices. With innovative X-ray detectors and interventional radiology equipment in focus, mammography machines also contribute significantly. This driver highlights the market's response to the imperative healthcare need.
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Company Profile:
Finapoline SAS, Agfa Gevaert NV, Canon Inc., Carestream Health Inc., Clermont Radiology LLC, DURR NDT GmbH and Co. KG, FUJIFILM Holdings Corp., GE Healthcare Technologies Inc., Hitachi Ltd., Hologic Inc., Konica Minolta Inc., Koninklijke Philips NV, MinXray Inc., New Medical Imaging Co ltd, Samsung Electronics Co. Ltd., Mindray Biomedical Electronics Co. Ltd, Shimadzu Corp., Siemens Healthineers AG, Toshiba Corp., and Varex Imaging Corp.
Agfa Gevaert NV - The company offers x-ray equipment such as Ultimax I, kalare, and Mobirex i9.
Regional Analysis
North America is estimated to contribute 38% to the growth of the global market during the forecast period. The US significantly influences the regional market, driven by escalating healthcare capital expenditure, a surge in chronic diseases like cancer and diabetes, and an increasing demand for digital X-ray equipment.
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X-Ray Equipment Market: Segmentation Analysis
The market share growth by the digital segment will be significant during the forecast period. To compete with the evolution of technologies like 3D detector technology, companies such as DanaherCorp. invest in state-of-the-art digital X-ray equipment.
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X-Ray Equipment Market: Market Dynamics
Leading trend - The X-Ray Equipment Market is propelled by a significant trend of technological advancements. Innovations in radiation protection devices, X-ray tubes, and image processing software reshape the landscape. The integration of Picture Archiving and Communication System (PACS) and digital mammography elevates diagnostic precision, while bone densitometry equipment and angiography systems further accentuate this evolution. Notably, the market surges with enhancements in C-arm machines, X-ray generators, and radiographic film and radiographic accessories, solidifying the importance of technological strides in driving market dynamics.
Significant Challenge - The X-ray equipment Market encounters a significant challenge due to the substantial costs associated with essential components like X-ray collimators, radiographic grids, and radiation shielding materials. The expense of X-ray lead aprons, dental X-ray equipment, and veterinary X-ray machines, along with industrial X-ray equipment, hinders market growth. Moreover, the high costs related to X-ray room accessories and X-ray quality assurance tools further impede accessibility and expansion, posing a notable challenge in market scalability.
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What are the key data covered in this X-ray equipment market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the X-ray equipment market between 2022 and 2027.
- Precise estimation of the x-ray equipment market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the X-ray equipment market across North America, Europe, Asia, and ROW
- A thorough analysis of the market's competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of X-ray equipment market companies.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Technology
Market Segmentation by End-user
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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