The global X-ray device market is poised for significant growth, with a projected value of US$ 24.4 billion by 2032, according to a recent industry analysis by Future Market Insights (FMI). This translates to a robust compound annual growth rate (CAGR) of 7.5%, building upon a solid foundation of US$ 11.4 billion in 2022.
The market’s expansion is driven by several key factors, including:
- Rising Prevalence of Chronic Diseases: The increasing incidence of chronic illnesses worldwide is fueling the demand for advanced diagnostic imaging technologies, such as X-ray devices.
- Technological Advancements: Continuous innovation in the diagnostic imaging sector is leading to improved imaging capabilities, enhanced diagnostic accuracy, and reduced radiation exposure. This fosters wider adoption of X-ray devices across various medical facilities.
- Improved Diagnostic Efficiency: The need for faster and more accurate diagnoses, especially for complex medical conditions, is propelling the market forward. X-ray devices play a vital role in this regard due to their portability and versatility.
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“The projected growth of the X-ray device market reflects the evolving landscape of healthcare and diagnostic tools,” says FMI. “This trajectory signifies not only technological advancements but also the response to the rising global healthcare demands.”
X-Ray Devices: Indispensable for Modern Healthcare:
The increasing demand for efficient diagnostic tools, particularly in emergency rooms, clinics, and hospitals, underscores the critical role X-ray devices play in modern healthcare. As highlighted by FMI, “The sustained expansion of the X-ray device market underscores the pivotal role these technologies play in modern healthcare.”
With the prevalence of diseases expected to rise further, X-ray devices are likely to remain indispensable for accurate diagnoses and timely interventions. The market’s future appears promising, driven by continued innovation and advancements in diagnostic imaging technologies.
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Digital X-Ray Devices to remain Most Popular in the Coming Decade:
The digital segment is anticipated to rule the worldwide x-ray device market in terms of product type. The report projects that the segment will grow between 2022 and 2032 at a CAGR of 7.5%.
The market’s ongoing technical progress is responsible for the segment’s growth. The demand for modern digital x-ray systems has also grown as a result of the many advantages they provide, including the convenience with which patients may be examined and the processing of enormous amounts of data.
Orthopedic Applications to account for Maximum X-Ray Device Market Growth:
Regarding application, it is anticipated that the orthopaedic sector will rule the market. The report predicts that throughout the forecast period, the segment will grow at a CAGR of 7.1%.
Additionally, it is predicted that continuous technological advancement in the industry will further aid market expansion during the assessment year. The segment is anticipated to grow during the evaluation period because of the aforementioned considerations.
Key players:
- Bracco Imaging SPA
- Hologic Inc.
- Fujifilm Holdings Corp
- KUB Technologies Inc
- GE Healthcare
Recent developments in the industry are:
- In March 2021, Fujifilm India unveiled a mobile digital radiology system called FDR Nano. It offers high-resolution imaging with low X-ray doses in healthcare settings, enables noise reduction circuits in turn, and obtains high image quality.
- In September 2021, GE Healthcare launched a fixed X-ray system for radiologists. The device is called Definium Tempo. It reduces workflow burden and enhances productivity for radiology departments.
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Key Segments Profiled In the X-Ray Device Market Report:
X-Ray Device Market by Portability:
- Fixed X-Ray Devices
- Portable X-Ray Devices
X-Ray Device Market by Application:
- X-Ray Device for Orthopedic Applications
- X-Ray Device for Dental Applications
- X-Ray Device for Cardiovascular Diseases (CVD) Applications
- X-Ray Device for Oncology Applications
- X-Ray Device for Other Applications
X-Ray Device Market by Product Type:
- Analog X-Ray Device
- Digital X-Ray Device
X-Ray Device Market by Technology:
- Direct Radiography X-Ray Device
- Computed Radiography X-Ray Device
X-Ray Device Market by End User:
- X-Ray Device for Hospitals
- X-Ray Device for Diagnostics Centers
- X-Ray Device for Other End Users
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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