According to Future Market Insights’ X-Ray Systems Market analysis report, global X-Ray Systems Market sales will reach US$ 6.9 billion in 2021. The projected market growth of 2.2% between 2022 and 2032 is significantly higher than historical growth. With a CAGR of more than 2.2% between 2022 and 2032, computed radiography is expected to be the most profitable segment.
Medical imaging has changed dramatically in recent years as a result of the rising popularity of digital radiology systems. Diagnostic accuracy is at the heart of the healthcare sector, and digital X-ray imaging is a large part of it. Furthermore, the inclusion of AI in these systems has aided market expansion. A primary driver of the segment is the quest for early-stage identification of chronic disorders. Furthermore, market expansion is projected to be aided by future technological advances, greater product development, improved funding, and government efforts, particularly in emerging countries like as India and China.
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Market growth is likely to be fueled by rising awareness and acceptance of preventive healthcare and sickness screening programs. Diagnostic accuracy in the early stages of many illnesses is predicted to improve as image quality enhances. This can aid towards the faster diagnosis and treatment of a range of life-threatening conditions, such as cancer and a variety of cardiovascular issues. As a consequence, market growth is expected to be aided by growing use of X-ray equipment for detecting different illnesses.
In addition, as a result of the COVID-19 outbreak, demand for portable X-ray devices has increased dramatically. As healthcare professionals become more aware of the benefits of mobile X-ray systems, they may consider switching to mobile diagnostic equipment owing to its faster image processing, workflow optimization, integrated AI, and other features.
Key Takeaways from the Market Study
- Global X-ray Systems Market is expected to cross a market size of US$ 7 Billion by 2022.
- Computed Radiography technology, is expected to grow at the highest CAGR of 2.2% during the forecast period.
- In terms of Mobility, Mobile X-ray Systems accounts for the highest CAGR of 2.1% during the historic period (2017to 2021).
- United States is projected to remain the dominant market with absolute dollar opportunity of US$ 649 Million during 2022 to 2032.
- The market in Japan is set to experience the highest CAGR of 2.9% during the 2022 to 2032 forecast period.
“Artificial intelligence and diagnostic accuracy are projected to boost the X-Ray industry at a rapid rate, due to the increasing number of patients suffering from various diseases, and the increasing number of surgeries performed to remove tumors and other diseases.” comments a Future Market Insights analyst.
Competitive Landscape
The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the X-ray Systems Market are focused on R&D to produce innovative technological solutions.
- In October 2021, Siemens Healthineers announced the launch of Luminos Impulse, a 2-in-1 remote-controlled imaging system that combines fluoroscopy and radiography for better clinical productivity and efficiency.
- In August 2021, GE Healthcare and Amazon Web Services entered into partnership wherein they will offer artificial intelligence and cloud-based imaging solutions to hospitals and healthcare providers.
- In June 2021, the Indian government released X-Ray Setu, a free AI-based technology to assist clinicians with early Covid therapy.
- In August 2020, Canon Inc. introduced a Mobile Digital X-ray system that simplifies detector charging and storage capacity while increasing detector wireless range and productivity. The SOLTUS 500 has received FDA 510(k) clearance.
- In January 2020, Thales and NEHS Digital partnered together to deploy innovative technology to speed up the hospital admissions process during a crisis. This project brings together Thales’ radiography and AI expertise, as well as NEHS’ digital footprint in the French healthcare system.
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Market Segments Covered in X-Ray Systems Market Analysis
By Technology:
- Digital Radiography
- Computed Radiography
By Mobility :
- Stationary
- Mobile
By End Uses:
- Hospitals
- Diagnostic Imaging Centres
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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