Market Research Report
Global X-ray Tube Market Forecast 2021-2028
|Published by||Inkwood Research||Product code||977414|
|Published||Content info||152 Pages
Delivery time: 2-3 business days
|Global X-ray Tube Market Forecast 2021-2028|
|Published: December 21, 2020||Content info: 152 Pages||
The global X-ray tube market is expected to register a CAGR of 4.05%, during the forecast period of 2021 to 2028. The market growth is primarily attributed to factors, such as, technological innovations and the increasing demand for diagnostic instruments across the healthcare sector.
The X-ray tube entails an instrument that produces X-rays using electricity. Every tube has a glass envelope, protective housing, cathode, and anode. The electrodes placed in a vacuum generate X-rays, through the application of electric charge. They are primarily used across applications, such as, security, medical diagnosis, metallurgy, and non-destructive testing.
The increasing number of medical illnesses is among the key factors, fueling the growth of X-ray machines. Moreover, an increased number of fatal accidents, globally, further propel the need for diagnostic terminals that use X-ray tubes and X-ray machines. In terms of cancer treatments, the growing expenditure is also projected to create an increased demand for X-ray tubes and devices. For instance, the World Health Organization (WHO) reported that cancer was the second-leading cause of death, worldwide. Besides, in 2018, the disease was also responsible for nearly 9.6 million deaths. As a result, the healthcare sector continues to remain the significant user of radiation-based solutions across treatment-associated and diagnostic applications.
The global X-ray tube market growth is assessed by evaluating Europe, the Asia Pacific, North America, and the rest of the world. The Asia Pacific is set to be the fastest-growing market over the forecast period, fundamentally owing to the promising trends depicted across the region's healthcare sector, and the large population base.
The intensity of industrial rivalry is projected to be moderately high across the global X-ray tube market. The presence of key players essentially governs the competition. Moreover, sustainable competitive market advantage can be achieved through innovation, mainly attributed to the increasing need for differentiated products.
Some of the distinguished companies operating in the market include, General Electric Healthcare, Siemens AG, Canon Electron Tubes & Devices Co Ltd, Oxford Instruments PLC, etc.