PUBLISHER: DataM Intelligence | PRODUCT CODE: 1336689
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1336689
Global X-Ray Inspection Systems Market - 2023-2030
Market Overview
Global X-Ray Inspection Systems Market reached US$ 765.3 million in 2022 and is expected to reach US$ 1001.5 million by 2030, growing with a CAGR of 6.7% during the forecast period 2023-2030. The key reasons driving the growth of the X-Ray Inspection Systems market are the growing focus of various companies to manage a greater number and variety of transactions as a result of the ongoing trend of digitization and mobility.
In 2022, North America x-ray inspection systems market is estimated to account for more than 1/3rd of the global market. Factors such as increased use of contemporary technology and enhanced healthcare infrastructure, strong purchasing power and a fair reimbursement framework all have an impact on the market. For instance, in August 2021, Shimadzu Medical Systems USA, announced the first North American installation of their RADspeed Pro style version with GLIDE Technology, DR system at Benefis Orthopedic.
Market Dynamics
The Rising Adoption in Healthcare Sector
The increasing use of x-ray systems for medical diagnosis is likely to drive market expansion. Siemens Healthineers, for example, will unveil Luminos Impulse in October 2021, a 2-in-1 remote-controlled imaging system that merges fluoroscopy and radiography for increased clinical productivity and efficiency. Furthermore, growing collaborations between hospitals and market actors are expected to drive demand for new installations in the future years.
Increased awareness and implementation of preventive healthcare and illness screening programs will drive market growth. Improvements in image output quality are expected to improve diagnostic accuracy in the initial phases of different diseases. It can aid in the earlier detection and treatment of a wide range of life-threatening diseases, including cancer and a number of cardiovascular diseases.
The Growing Application in Military Equipment
One of the most successful testing procedures for confirming product completeness and quality is industrial X-ray and computed tomography inspection. According to the Stockholm International Peace Research Institute (SIPRI) Reports 2021, the increase in total military spending in 2020 was mostly affected by U.S. and Chinese spending patterns.
U.S. increased its military spending for the third year in a row, to US$ 778 billion in 2020. The increasing expenditure in military equipment is expected to fuel the expansion of the x-ray inspection system market. Furthermore, rising consumer awareness and tight government regulations have fueled its market expansion by providing certification under x-ray inspection standards for many consumer products.
Regulatory Concerns and Complexity
Stringent laws and standards in different industries, like food and pharmaceuticals, necessitate compliance with X-Ray Inspection Systems. Meeting these criteria might complicate and increase the cost of system development and implementation. The operation and maintenance of X-Ray Inspection Systems can necessitate specialized knowledge and training.
Businesses may need to spend in staff training or outsource expertise, raising the overall cost of ownership. X-Ray Inspection Systems have limitations in terms of providing detailed resolution for specific materials or components, which may not meet the unique requirements of some industries or applications.
COVID-19 Impact Analysis
The COVID-19 epidemic has caused obstacles and impacted healthcare systems around the world. Radiology has significantly enhanced patient care during this crisis as a result of rapid advances. Chest radiography was the first imaging procedure used in the treatment of COVID-19 since it is used in the diagnosis of the disease. The epidemic in China caused disruptions in the market's supply chain; nevertheless, according to the most recent market conditions, many enterprises have recovered or will restart their manufacturing activities.
Furthermore, the COVID-19 epidemic has increased demand for mobile x-ray systems. For example, Europe-based Detection Technology PLC confirmed the official production launch of its new manufacturing and service site in the Greater Shanghai area in April 2020. However, given the COVID conditions, oil and gas corporations are reducing investments in reaction to low oil prices, revenue and output declines.
Russia- Ukraine War Impact
The Russia-Ukraine war has a more direct impact on the Eastern European x-ray inspection systems market. Due to the region's economic insecurity and geopolitical concerns, demand for the systems fell down. Geopolitical conflicts impact international commerce dynamics, with sanctions and trade restrictions influencing cross-border transactions.
Trade shifts affect the flow of x-ray inspection systems globally and thus market dynamics. The conflict forced nations to reconsider their trade policies and impose stronger limits on technology exports and imports. Changes like this have an impact on x-ray inspection system makers and distributors.
Segment Analysis
The global x-ray inspection systems market is segmented based on modality, product, scanning technology, imaging technology, end-user and region.
The High Efficiency of X-ray Inspection Systems in Oil & Gas
Oil & gas is expected to hold about 1/3rd of the global X-ray inspection systems market during the forecast period 2023-2030. The market for X-ray inspection systems is dominated by the oil & gas segment. X-ray inspection systems are extensively utilized in both the downstream and upstream regions of oil and gas fields.
X-ray inspection systems are very efficient in offering solutions for pressure vessel, pipe, boiler and valve inspection, which supports market expansion. The growing production of oil & gas is likely to impact the market growth. The Canadian Oil Producers Association (CAPP) predicts that the country's oil production will reach 5.4 billion barrels per day by 2030, with oil sands accounting for 70.7% of total output.
Geographical Analysis
The Growing Demand for Better Imaging Devices in Asia-Pacific
Asia-Pacific is anticipated to have a significant growth holding around 1/4th of the global x-ray inspection systems market during the forecast period 2023-2030. The region has grown as a result of rising demand for improved imaging technologies and supported government attempts to improve the region's healthcare infrastructure.
Southeast Asian countries, China, Japan and India are likely to drive growth due to their rapidly rising economies and improved healthcare offering. According to Sam Radwan of ENHANCE International, China's expected healthcare spending in 2050 may be more than Germany's whole GDP in 2020. Furthermore, the rising frequency of chronic diseases and the aging population are likely to drive market expansion in Asia-Pacific.
Due to the country's low domestic production, the Japanese government is encouraging its energy corporations to expand exploration and development projects around the world in order to assure a consistent supply of oil and natural gas. Furthermore, the Japanese inspection market is highly competitive and growing rapidly as a result of the regulations.
Competitive Landscape
The major global players include: North Star Imaging Inc., Nikon Metrology NV, Nordson DAGE, YXLON International GmbH, VJ Group Inc., 3DX-RAY Ltd., VisiConsult X-ray Systems And Solutions GmbH, Smiths Detection Inc., Mettler-Toledo International Inc. and General Electric Co.
Why Purchase the Report?
- To visualize the global x-ray inspection systems market segmentation based on modality product, scanning technology, imaging technology, end-user and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of x-ray inspection systems market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global x-ray inspection systems market report would provide approximately 77 tables, 81 figures and 206 pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
Table of Contents
1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
- 3.1. Snippet by Modality
- 3.2. Snippet by Product
- 3.3. Snippet by Scanning Technology
- 3.4. Snippet by Imaging Technology
- 3.5. Snippet by End-User
- 3.6. Snippet by Region
4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. The Rising Adoption in Healthcare Sector
- 4.1.1.2. The Increasing Application in Food and Beverage Sector
- 4.1.1.3. The Growing Application in Military Equipment
- 4.1.2. Restraints
- 4.1.2.1. High Installation Costs and Threat of Radiation Exposure
- 4.1.2.2. Regulatory Concerns and Complexity
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
- 4.1.1. Drivers
5. Industry Analysis
- 5.1. Porter's Five Force Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID
- 6.1.2. Scenario During COVID
- 6.1.3. Scenario Post COVID
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
7. By Modality
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Modality
- 7.1.2. Market Attractiveness Index, By Modality
- 7.2. Radiography*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Fluoroscopy
- 7.4. Mammography
8. By Product
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 8.1.2. Market Attractiveness Index, By Product
- 8.2. Packaged Products*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Non-packaged Products
- 8.4. Pumped
- 8.5. Others
9. By Scanning Technology
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Scanning Technology
- 9.1.2. Market Attractiveness Index, By Scanning Technology
- 9.2. HD*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Ultra-HD
- 9.4. Others
10. By Imaging Technology
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Imaging Technology
- 10.1.2. Market Attractiveness Index, By Imaging Technology
- 10.2. Digital*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Film-based
11. By End-User
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.1.2. Market Attractiveness Index, By End-User
- 11.2. Food & Beverage*
- 11.2.1. Introduction
- 11.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 11.3. Semiconductor
- 11.4. Oil & Gas
- 11.5. Aerospace
- 11.6. Automotive
- 11.7. Pharmaceuticals
- 11.8. Others
12. By Region
- 12.1. Introduction
- 12.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 12.1.2. Market Attractiveness Index, By Region
- 12.2. North America
- 12.2.1. Introduction
- 12.2.2. Key Region-Specific Dynamics
- 12.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Modality
- 12.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 12.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Scanning Technology
- 12.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Imaging Technology
- 12.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12.2.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.2.8.1. U.S.
- 12.2.8.2. Canada
- 12.2.8.3. Mexico
- 12.3. Europe
- 12.3.1. Introduction
- 12.3.2. Key Region-Specific Dynamics
- 12.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Modality
- 12.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 12.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Scanning Technology
- 12.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Imaging Technology
- 12.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12.3.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.3.8.1. Germany
- 12.3.8.2. UK
- 12.3.8.3. France
- 12.3.8.4. Italy
- 12.3.8.5. Russia
- 12.3.8.6. Rest of Europe
- 12.4. South America
- 12.4.1. Introduction
- 12.4.2. Key Region-Specific Dynamics
- 12.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Modality
- 12.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 12.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Scanning Technology
- 12.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Imaging Technology
- 12.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12.4.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.4.8.1. Brazil
- 12.4.8.2. Argentina
- 12.4.8.3. Rest of South America
- 12.5. Asia-Pacific
- 12.5.1. Introduction
- 12.5.2. Key Region-Specific Dynamics
- 12.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Modality
- 12.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 12.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Scanning Technology
- 12.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Imaging Technology
- 12.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12.5.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.5.8.1. China
- 12.5.8.2. India
- 12.5.8.3. Japan
- 12.5.8.4. Australia
- 12.5.8.5. Rest of Asia-Pacific
- 12.6. Middle East and Africa
- 12.6.1. Introduction
- 12.6.2. Key Region-Specific Dynamics
- 12.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Modality
- 12.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 12.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Scanning Technology
- 12.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Imaging Technology
- 12.6.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
13. Competitive Landscape
- 13.1. Competitive Scenario
- 13.2. Market Positioning/Share Analysis
- 13.3. Mergers and Acquisitions Analysis
14. Company Profiles
- 14.1. North Star Imaging Inc.*
- 14.1.1. Company Overview
- 14.1.2. Product Portfolio and Description
- 14.1.3. Financial Overview
- 14.1.4. Recent Developments
- 14.2. Nikon Metrology NV
- 14.3. Nordson DAGE
- 14.4. YXLON International GmbH
- 14.5. VJ Group Inc.
- 14.6. 3DX-RAY Ltd.
- 14.7. VisiConsult X-ray Systems And Solutions GmbH
- 14.8. Smiths Detection Inc.
- 14.9. Mettler-Toledo International Inc.
- 14.10. General Electric Co.
LIST NOT EXHAUSTIVE
15. Appendix
- 15.1. About Us and Services
- 15.2. Contact Us
