Key Drivers and Opportunities in the X-Ray Systems Devices And Equipment Market: Insights into Trends and Growth
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What Long-Term Growth Rate is Expected for the X-Ray Systems Devices And Equipment Market Between 2025 and 2034?
The market size of X-ray systems devices and equipment has seen significant growth recently. The projected growth indicates an increase from $17.32 billion in 2024 to $18.51 billion in 2025, representing a compound annual growth rate (CAGR) of 6.8%. The observed growth in the past years is due to factors such as medical diagnostics, population growth, an increase in the aging population, and the tendency towards preventative and routine healthcare.
In the coming years, the market for X-ray systems, devices, and equipment is predicted to witness significant expansion. With an anticipated compound annual growth rate (CAGR) of 6.3%, the market is forecasted to hit $23.65 billion by 2029. Factors such as digitalization, specialized applications, population health management, and advancements in radiation safety have contributed to this projected growth for the forecast period. Major anticipated trends during this forecast period include 3D and cone-beam CT imaging, point-of-care X-ray, AI-enhanced imaging, and remote and mobile imaging.
How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the X-Ray Systems Devices And Equipment Market?
The escalating prevalence of global injuries is fuelling the growth of the medical diagnostic X-ray systems, devices, and equipment market. The surge in accidents, sports-related injuries, serious muscle trauma, bone damage, and others are escalating the market for diagnostic apparatus, particularly X-ray system equipment. For instance, figures from the UK-based government department, National Health Service, showed that there was a high demand for imaging tests in England in March 2022. A total of 44.0 million tests were carried out, indicating a significant 26% rise compared to 34.9 million the year before. In the breakdown, X-rays stood out with 21.8 million tests (which is a 30% rise), trailed by ultrasound with 10.1 million (23% rise), CT scans with 6.7 million (21% rise), and MRI scans with 3.8 million (28% rise). Furthermore, other imaging modalities also experienced growth: fluoroscopy by 23%, nuclear medicine by 22%, SPECT by 39%, PET-CT scans by 20%, and medical photography by 11%. Hence, the surging prevalence of injuries all around the globe is fuelling the growth of the medical diagnostic X-ray systems, devices, and equipment market.
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What Are the Key Firms That Are Driving Transformation in the X-Ray Systems Devices And Equipment Market?
Major companies operating in the X-ray systems devices and equipment market include Siemens Healthcare, Carestream Health, Philips Healthcare, Hitachi Medical, GE Healthcare, Shimadzu Corporation, Fujifilm Holdings, Toshiba Medical Systems Corporation, Canon Inc., Agfa HealthCare N.V., Hologic Inc., Konica Minolta, Samsung, Analogic Corporation, Summit Industries, Rapiscan Systems, Swissray International Inc., Ziehm Imaging GmbH, RMS India, KUB Technologies Inc., Source Ray Inc., Allengers Medical Systems, Dentsply Sirona, Bennett, MinXray Inc., Varian Medical Systems, Angell Technology, Control-X Medical, DMS Imaging, Esaote, IAE SPA, Infimed Sp. z o.o., Medonica Healthcare Private Limited, PerkinElmer Inc., Planmed Oy
What Are the Top Trends Shaping the Evolution of the X-Ray Systems Devices And Equipment Market?
The market for X-ray systems devices and equipment is experiencing an increase in mergers and acquisitions. This activity is predominantly fueled by companies aiming to expand their business into the areas of medical/diagnostic imaging and radiology. In April 2024, Shimadzua, a Japanese firm that produces precision instruments, measuring devices and medical equipment, procured X-ray Imaging Services, Inc for a sum that was not disclosed. Shimadzu Medical Systems USA’s purchase of California’s X-ray Imaging Services, Inc. (CIS) is geared towards broadening its direct sales and servicing reach in the U.S., particularly the West Coast. X-ray Imaging Services, Inc. is a leading provider of security equipment to government and business entities based in California.
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Which Key Market Segments Comprise the X-Ray Systems Devices And Equipment Market and Drive Its Revenue Growth?
The X-ray systems devices and equipment market covered in this report is segmented –
1) By Type: Portable Type, Stationary Type
2) By Product Type: Computed Tomography, Mobile X-Ray Devices, C-Arm Devices, Dental X-Ray, Mammography, Other Product Types
3) By image type: 2D images, 3D images, 4D images 4) By Technology: Analog X-Ray Machine , Digital X-Ray Machine
4) By Technology: Analog X-Ray Machine, Digital X-Ray Machine
5) By Application: Cardiovascular, Respiratory, Mammography, Dental, Orthopedics, Other Applications
Subsegments:
1) By Portable Type: Mobile X-Ray Systems, Handheld X-Ray Devices, Veterinary X-Ray Systems
2) By Stationary Type: Conventional X-Ray Systems, Computed Radiography (CR) Systems, Digital Radiography (DR) Systems, Fluoroscopy X-Ray Systems
What Regions Are Driving Expansion in the X-Ray Systems Devices And Equipment Market?
Western Europe was the largest region in the global X-ray devices and equipment market in 2023. North America was the second-largest region in global X-ray devices and equipment market share. The regions covered in the x-ray systems devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
How Is the X-Ray Systems Devices And Equipment Market Categorized and Defined in the Industry?
X-ray devices and equipment use a medical imaging method known as radiography or X-ray to produce photographs of the internal bodily structures using minute amounts of electromagnetic energy. Then, these pictures can be seen on film or digitally. X-ray systems are used for the diagnosis and imaging of patients suffering from various diseases.
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