Key Market Overview:
X-ray Systems Market size was worth USD 6.80 Billion in 2021, accounting for a CAGR of 2.5% during the forecast period (2022-2030), and the market is projected to be worth USD 8.50 Billion by 2030.
X-ray systems are extensively used in medical imaging to produce images of the body’s internal structure. These systems use electromagnetic radiation in the X-ray part of the spectrum to create images of bones, tissues, and organs. The Radiological Society of North America (RSNA) defines X-ray systems as devices used to record and produce X-ray images for the diagnosis and treatment of multiple medical conditions. X-ray systems generally consist of an X-rays source, a means of leading the X-rays through the body, and an indicator that captures the X-rays that pass through the body and converts them into an image. The image is recorded on film or captured electronically and displayed on a computer screen.
For instance, in November 2022, researchers presented a new deep learning model at the annual meeting of the Radiological Society of North America (RSNA) with the ability to predict the 10-year risk of death from heart attack or stroke due to atherosclerotic cardiovascular disease using only one chest X-ray. Thus, deep learning, a sophisticated form of artificial intelligence (AI) has the capability to analyze X-ray images and identify patterns related to various diseases through training. Moreover, X-ray systems play a significant role in modern medicine, offering valuable diagnostic information for an extensive range of medical conditions and aiding healthcare professionals to make appropriate treatment decisions.
Market Dynamics
Driver
The rise in chronic diseases and the aging population are leading to an increased demand for medical imaging services such as X-rays. As the increasing geriatric population, they are more likely to suffer from conditions such as arthritis, osteoporosis, and other health issues that require regular monitoring and diagnosis through imaging techniques such as X-rays. Furthermore, the increasing awareness about the advantages of early diagnosis and treatment drives the market. As people are more conscious of their health and are seeking medical help at an initial stage, early detection of medical conditions through imaging techniques such as X-rays can lead to earlier treatment and better outcomes. Thus, making it an increasingly popular choice among patients and healthcare providers. Thereby the above-mentioned factors rise the growth of the X-ray systems market.
Restraint
The high cost of X-ray systems especially in developing nations hinders the market growth. Also, the potential health hazards related to radiation exposure from X-ray systems bound their usage. Furthermore, the competition from alternative imaging technologies, such as ultrasound and magnetic resonance imaging (MRI), hamper the growth of the X-ray systems market.
Opportunities
The integration of nanotechnology in X-ray systems can lead to improved image quality and enhanced diagnostic accuracy. Among various electron emission materials, carbon nanotubes stand out with their unparalleled potential due to their desirable morphological and electronic properties, making them a promising candidate for future electron source technologies thus, creating ample opportunities for the market over the forecast period.
X-ray Systems Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Billion) | 8.5 Billion |
| CAGR (2022-2030) | 2.5% |
| By Product Type | Fix Anode Source
(Low Energy Tube and High Energy Tube) and Rotating Anode Source (Low Energy Tube and High Energy Tube) |
| By Imaging Technique | Radiography (Digital radiography (Flat Panel Detectors and High-Density Line Scan Solid State Detectors), Computed radiography), Fluoroscopy, and Analog |
| By Mobility | Fixed X-ray and Mobile X-ray |
| By Application | Orthopaedics, Mammography, Cardiovascular, Respiratory, Dental, and Others (Abdominal, General Surgery)
|
| By End-use | Hospitals, Diagnostic Centre, Ambulatory Surgical Centers, and Others (Research Centers) |
| By Region | North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa |
| Key Players | Siemens Healthcare Private Limited, GE HealthCare Private Limited, Canon Medical Systems Corporation, Carestream Health, Hologic, Inc., Neusoft Corporation, Konica Minolta, Inc., Koninklijke Philips N.V., Shimadzu Corporation, and Agfa-Gevaert Group |
Market Segmentation:
By Product Type
Based on product type, the market is bifurcated into fixed anode sources and rotating anode sources. The fixed anode source had the largest market share in 2021. Such types of x-ray systems are extensively used in routine imaging procedures, such as general radiography and orthopedic radiography. Furthermore, the rotating anode source is expected to grow at the fastest CAGR over the forecast period. This is due to their extensive usage in more complex imaging procedures, such as angiography, interventional radiology, and mammography as they are more powerful and efficient.
By Imaging Technique
Based on imaging techniques, the market is categorized into radiography, fluoroscopy, and analog. The radiology segment hold the largest share of the market in 2021. This segment is further segmented into digital radiography and computed radiography. Digital radiography is the preferred method of medical imaging owing to its benefits such as improved image quality, and easier storage and retrieval of images. Furthermore, fluoroscopy is the fastest-growing segment over the forecast period. This is due to the increased usage of fluoroscopy in procedures such as catheterization, biopsies, and injections, making these procedures more accurate and less invasive. Thus, this segment is anticipated to grow with the fastest CAGR.
By Mobility
Based on mobility, the x-ray systems market is bifurcated into fixed X-ray and mobile X-ray. The fixed X-ray segment was the largest segment of the market in 2021. Fixed X-ray systems are extensively used due to their high accuracy and image quality, which makes them the most preferred choice for diagnostic applications in hospitals, clinics, and diagnostic centers. The immobile nature of these systems allows a more controlled and stable environment, which is crucial for procuring high-quality images. Furthermore, mobile X-ray systems are considered the fastest-growing segment over the forecast period owing to the increasing demand for flexible and portable imaging solutions, especially in remote areas and patient home care.
By Application
Based on the application the market is segmented into orthopedics, mammography, cardiovascular, respiratory, dental, and others (abdominal, general surgery). Orthopedics holds the largest share in the overall X-ray systems market, in terms of applications. These X-ray systems are extensively used for the treatment and diagnosis of bone-related conditions, such as joint dislocations, fractures, and osteoarthritis. The growing incidence of bone-related conditions, such as arthritis and osteoporosis, fuels the demand for orthopedic X-ray systems. Furthermore, the fastest-growing segment in the market over the forecast period, in terms of applications is mammography. This is owing to the rising awareness of breast cancer and the increasing emphasis on early detection and treatment are fueling the demand for mammography X-ray systems.
By End-use
The end-user segment is classified into hospitals, diagnostic centers, ambulatory surgical centers, and others (research centers). The hospital segment holds the largest share of the market. This is attributed to the rising number of patients being treated in hospitals and the increasing need for modern diagnostic tools in hospitals. Furthermore, the ambulatory surgical center segment is expected to grow with the fastest CAGR over the forecast period. The increasing demand for convenient and cost-effective medical services, with the rising number of outpatient procedures, is fueling the growth of the ambulatory surgical center’s segment.
By Region
The regional segment includes Asia Pacific, the Middle East and Africa, Europe, North America, and Latin America. North America is dominating with the largest market share in the X-ray systems market. This region has a well-established healthcare infrastructure and an enormous number of diagnostic imaging centers, which is fueling the demand for X-ray systems in the region. Moreover, rising emphasis on patient comfort, and an increasing base of major manufacturers in the North America region. Furthermore, Asia Pacific is anticipated to grow with the fastest CAGR over the forecast period due to the rising number of patients getting treatment in hospitals and the increasing demand for advanced diagnostic tools in developing economies such as China and India.
X-ray Systems Market Competitive Landscape:
The competitive landscape of the market has been evaluated in the report, with inclusive profiles of the key players operating in the industry. Furthermore, the surge in Research and Development (R&D), product innovation, and multiple business strategies have improved the growth of the x-ray systems market. Key players in the market include-
- Siemens Healthcare
- GE HealthCare
- Canon Medical Systems Corporation
- Carestream Health
- Hologic, Inc.
- Neusoft Corporation
- Konica Minolta, Inc.
- Koninklijke Philips N.V.
- Shimadzu Corporation
- Agfa-Gevaert Group
Recent developments
- In August 2020, Canon Inc. introduced the SOLTUS 500, a mobile digital x-ray system that has received FDA 510(k) clearance. It improves detector charging and storage capabilities and increases the wireless range and productivity of the detector.
- In October 2021, Siemens Healthcare Pvt Ltd unveiled the Luminous Impulse, a remote-controlled 2-in-1 imaging system that integrates radiography and fluoroscopy to improve clinical efficiency and productivity.
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