The global X-ray Systems market size is expected to be worth around US$ 12.43 billion by 2030, according to a new report by Vision Research Reports.
The global X-ray Systems market size was valued at US$ 10.27 billion in 2020 and is anticipated to grow at a CAGR of 4.9% during forecast period 2021 to 2030.
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Rising investments in medical technology, increasing R&D activities, and a surge in product launches are key factors driving market growth.
Prominent modalities include radiography, fluoroscopy, and computed radiography. Computed radiography systems are the most preferred systems, as they provide sharp images in a shorter time. Moreover, the imaging plates can be reused. Fluoroscopy is also gaining prominence in developed countries such as the U.S. and Canada.
X-ray systems can be stationary or portable. Even the stationary systems dominated the market in 2017 in terms of revenue, the portable kind are poised to witness faster growth. Stationary radiography systems have significant demand in developing countries where adaption to new technology is slow. Portable systems are preferred over stationary variants due to their mobility, which makes them more convenient and flexible for use.
Based on modality, the market is segmented into radiography, fluoroscopy, and computed radiography. Computed radiography systems are the most preferred ones, as they provide sharp images in a shorter time and the imaging plates are reusable. Fluoroscopy is also gaining prominence in developed countries in North America and Europe and this segment is poised to register the highest growth over the coming years.
Radiography captured the largest market share of just under 45.0% in 2020. The adoption of computed radiography is growing in developing countries as it helps cut down the costs of medical imaging.
Based on mobility, the market is bifurcated into stationary and portable systems. Stationary systems dominated the market in 2020, with the segment accounting for a share of close to 56.0%. Stationary radiography solutions have shown significant demand in developing countries where the adaption of new technologies is comparatively slower.
Portable systems are advanced and preferred over stationary due to their mobility, which renders them more convenient and flexible for use. This segment is expected to exhibit the fastest CAGR of 4.15% during the forecast period.
Based on type, the x-ray systems market is divided into digital and analog. The digital segment is not just the larger of the two types of systems, it is also anticipated to witness fastest the growth rate over the forecast period. Digital radiology devices are preferred over their traditional counterparts owing to advantages such as better image quality and clarity, cost-effectiveness, and low maintenance.
Analog systems are expected to be phased out by digital ones as the latter presents several challenges such as high radiation exposure, image noise, and inaccurate results. However, demand for such x-ray units is high in countries with weak economies, where hospitals have limited funds.
Based on end use, the market can be segmented into hospitals, diagnostic centers, and mobile imaging centers. Hospitals held the largest market share in 2020. The mid-to-large sized hospitals install medical imaging equipment within the premises as medical imaging can be a major source of outpatient profits.
Majority of large hospitals have their own medical imaging facilities. However, these facilities require large investments, space, skilled professionals, and can result in high maintenance charges. This increases the financial burden on hospitals. Hence, hospitals prefer partnering with diagnostic centers for medical imaging services. This helps in cost saving in small and mid-sized hospitals.
On the basis of geography, the market has been segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. North America dominated the market in 2020 in terms of revenue owing to the high adoption of advanced technologies and improved infrastructure in healthcare facilities. Asia Pacific is expected to exhibit the fastest growth rate over the forecast period mainly due to the rise in supportive government incentives and the increasing prevalence of chronic diseases.
Koninklijke Philips N.V.; GE Healthcare; Hitachi, Ltd.; Shimadzu Corporation, Fujifilm Medical Systems; Siemens Healthineers; Canon Medical Systems Corporation; Carestream Health; Hologic, Inc.; and Biosign.
- Modality Outlook
- Computed Radiography
- Mobility Outlook
- End-Use Outlook
- Diagnostic Centers
- Mobile Imaging Centers
- Type Outlook
- Regional Outlook
- North America
- The U.S.
- The U.K.
- Asia Pacific
- Sri Lanka
- South Korea
- Latin America
- The Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- North America
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The X-ray Systems market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of X-ray Systems market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global X-ray Systems market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the X-ray Systems market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted X-ray Systems market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the X-ray Systems capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of X-ray Systems by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global X-ray Systems market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major X-ray Systems market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of X-ray Systems market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the X-ray Systems industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The X-ray Systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to X-ray Systems market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of X-ray Systems market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new X-ray Systems market. These factors have benefited the growth of the global market for X-ray Systems. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for X-ray Systems. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of X-ray Systems are as follows:
- Historic Year: 2017-2020
- Base Year: 2021
- Forecast Year 2021 to 2030
Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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