According to the report by Expert Market Research (EMR), the global medical x-ray market size reached a value of approximately USD 12.17 billion in 2023. Aided by the increasing prevalence of chronic diseases and rising healthcare expenditure, the market is projected to further grow at a CAGR of 8.1% between 2024 and 2032 to reach a value of USD 23.93 billion by 2032.
Medical X-ray machines produce images of the body’s internal structure using low doses of ionising radiation, serving as an invaluable diagnostic tool for myriad health conditions. These machines are used extensively in several medical specialties, including orthopaedics, cardiology, oncology, and gastroenterology, among others, thus propelling the medical x-ray market growth. The X-ray imaging technology’s ability to reveal hidden abnormalities, combined with its non-invasiveness and cost-effectiveness, has led to its widespread adoption in the healthcare sector globally.
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The global medical X-ray market growth is primarily driven by the rising prevalence of diseases, including cancer, heart disease, and various orthopaedic conditions. These diseases often necessitate the use of X-ray imaging for accurate diagnosis, which has led to an increased demand for medical X-ray machines. The ongoing global aging population phenomenon is also contributing significantly to the market’s expansion, as older individuals are more likely to require X-ray imaging due to their higher risk of developing various diseases.
Additionally, technological advancements in the field of X-ray imaging have played a pivotal role in propelling the medical x-ray market development. The advent of digital X-ray systems, offering benefits such as improved image quality, reduced radiation exposure, and quicker imaging processes, has revolutionised the medical X-ray market. Similarly, the introduction of portable X-ray systems has expanded the technology’s accessibility, particularly in rural areas and for bedside imaging in hospitals, thereby bolstering the market growth.
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In the healthcare industry, medical X-ray machines are indispensable for diagnostic imaging. In addition to hospitals and clinics, these machines are increasingly being utilised in home healthcare settings, thanks to portable X-ray systems’ availability. The rising trend of home healthcare, particularly in developed nations, is anticipated to spur the demand for portable X-ray machines, thus contributing to the medical x-ray market growth.
Furthermore, medical X-ray machines are also employed in veterinary medicine, where they are used to diagnose a variety of conditions in animals. The growing focus on animal health and the increasing expenditure on pet care are expected to boost the demand for veterinary X-ray machines, thereby facilitating the medical x-ray market expansion.
Medical X-Ray Market Segmentation
The market can be divided based on product, technology type, portability, application, end user, and region.
Market Breakup by Product
• Digital
• Analogue
Market Breakup by Technology Type
• Computed Radiography
• Film-Based Radiography
• Direct Radiography
• Others
Market Breakup by Portability
• Fixed
• Portable
• Others
Market Breakup by Application
• Dental
• Veterinary
• Mammography
• Chest
• Cardiovascular
• Orthopaedics
• Others
Market Breakup by End User
• Hospitals
• Speciality Clinics
• Diagnostic Centres
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global medical x-ray companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• Agfa-Gevaert Group
• Canon Medical Systems Corporation
• Carestream Health, Inc.
• Dentsply Sirona Inc.
• ConvaTec Inc.
• The General Electric Company
• Koninklijke Philips N.V.
• Canon Medical Systems Corporation
• Fujifilm Holdings Corporation
• Siemens Healthcare GmbH
• Shimadzu Corporation
• Samsung Electronics Co., Ltd.
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