The global X-ray device market is poised for remarkable growth, projecting an estimated value of US$ 24.4 billion by 2032, signifying a robust compound annual growth rate (CAGR) of 7.9%. The market, evaluated at US$ 11.4 billion in 2022, reflects a trajectory of sustained expansion. This upward surge is attributed to the escalating prevalence of chronic illnesses worldwide coupled with continuous advancements in the diagnostic imaging sector.
The comprehensive analysis, drawing insights from Future Market Insights, unveils a landscape where technological innovations are playing a pivotal role in reshaping diagnostic capabilities. These advancements not only enhance diagnostic accuracy but also contribute significantly to the efficacy of patient care.
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The advent of cutting-edge technologies continues to drive the market forward. Innovations in X-ray devices, ranging from enhanced imaging resolution to reduced radiation exposure, are at the forefront, ensuring safer and more effective diagnostic procedures.
“The evolution of the X-ray device market is a testament to the collaborative efforts of healthcare providers, innovators, and policymakers striving to advance medical diagnostics,” Future Market Insights continued.
As the global X-ray device market continues its rapid expansion, Future Market Insights reaffirms its dedication to pioneering innovations that empower healthcare professionals and improve patient outcomes worldwide.
The Factors Impeding the Global X-Ray Device Market:
X-ray radiation is harmful to human health even if X-ray equipment have a lot of benefits. Radiation damages the cells in the body. This is predicted to rank among the most significant factors constraining market growth during the projection period. Additional problems that will restrict industrial growth in the next years include inadequate reimbursements and a lack of infrastructure, particularly in developing or undeveloped areas.
The development of digital x-ray technology has allowed athletes to advance their careers. But it’s expected that the expensive price of the device will soon limit market growth. It is challenging for small and medium-sized hospitals to get expensive services, such digital x-rays, which slows down their adoption and limits the market’s growth.
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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 7.2%.
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
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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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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