Medical X-Ray Market Forecasts to 2030 - Global Analysis By Type, Portability, Technology, Application, End User and By Geography

According to Stratistics MRC, the Global Medical X-Ray Market is accounted for $14.5 billion in 2023 and is expected to reach $24.6 billion by 2030 growing at a CAGR of 7.8% during the forecast period. Medical X-ray refers to a form of electromagnetic radiation used in diagnostic imaging to create detailed images of the inside of the body. X-rays are produced by directing a controlled amount of radiation through the body onto a specialized detector. Dense tissues, such as bones, absorb more radiation and appear white on the resulting X-ray images, while softer tissues allow more radiation to pass through, appearing as varying shades of gray. X-rays are commonly used to diagnose fractures, infections, tumors, and other conditions by providing detailed images of internal structures like bones, organs, and tissues. They are valuable tools for healthcare professionals in determining and treating various medical conditions.

According to research study published by Bioinformatics Inc., in 2021, the IMV's 2021 survey concluded that about 88.0% of mobile X-ray units installed in the U.S. hospital radiology departments use digital technology and 12.0% use CR cassettes/analog technology.

Market Dynamics:

Driver:

Growing healthcare expenditure

As healthcare spending continues to rise in many regions, there's a parallel increase in investments in advanced medical equipment, including X-ray machines and imaging technologies. Higher healthcare spending enables the implementation of advanced imaging techniques, such as computed tomography (CT) and magnetic resonance imaging (MRI), which provide detailed anatomical information. Ultimately, these advancements contribute to a more efficient and effective healthcare system.

Restraint:

Increasing risks of high radiation

The declining patient preference for X-rays considering their risks of harming the body cells may pose as a constraint for the industry progress. X-rays have high energy as compared to light waves, and thus offer high-energy radiation, subsequently increasing the burden of cancer. Hence the rising number of performed x-ray tests may hinder the market share. X-rays also lead to ionizing radiations resulting in pre-and postnatal irradiation, bringing adverse health impacts for children.

Opportunity:

Focus on early diagnosis

Increased funding allows for the development and deployment of advanced X-ray technologies, such as digital radiography and fluoroscopy, which offer higher image quality and lower radiation doses. These advancements facilitate the early detection of diseases and conditions, enabling prompt intervention and improved patient outcomes. Early detection and diagnosis of diseases are becoming a healthcare priority. X-rays play a crucial role in enabling early identification and treatment of various medical conditions, contributing to market growth.

Threat:

Lack of real-time imaging

Traditional X-ray imaging produces static images, which means it cannot capture real-time movements or dynamic processes within the body. This limitation makes it less suitable for assessing certain conditions that require real-time monitoring, such as blood flow or joint mobility. However, X-rays may not provide sufficient information for diagnosing certain conditions, such as early-stage cancers or subtle fractures. These are the factors hampering the growth of the market.

Covid-19 Impact:

The pandemic has led to a higher demand for chest X-rays as they are commonly used to assess lung involvement in COVID-19 patients. Hospitals and healthcare facilities have experienced an increased workload in conducting X-rays for suspected or confirmed cases. The pandemic has prompted research and development efforts to improve X-ray technology and techniques related to COVID-19 diagnosis and monitoring. Innovations such as portable X-ray devices and AI-based image analysis have been explored to enhance efficiency and accuracy.

The chest x-rays segment is expected to be the largest during the forecast period

The chest x-rays segment is expected to be the largest during the forecast period. Chest X-rays are relatively quick to perform and non-invasive, making them a readily available diagnostic tool. The procedure is generally well-tolerated by patients and does not require any injections or contrast agents. X-rays are more cost-effective compared to other imaging modalities such as computed tomography scans or magnetic resonance imaging.

The fixed portability segment is expected to have the highest CAGR during the forecast period

The fixed portability segment is expected to have the highest CAGR during the forecast period. The rising number of government investments for installing modern diagnostic equipment has spurred the adoption of fixed x-ray systems as they can be accessed in a wide variety of sizes and types in several high-end scientific applications. The rising popularity of mammograms and dental x-rays for facilitating the imaging of skull, chest, extremities, spine, and abdomen will also add to the market outlook.

Region with largest share:

North America is projected to hold the largest market share during the forecast period due to rising emergency patient visits across U.S. healthcare centers requiring diagnostic x-rays and favorable reimbursement environment by government healthcare programs in the U.S. for digital x-ray systems. The growing number of private and public investments has propelled the rising awareness regarding the advantages of early diagnosis. The presence of favorable demographic trends in the region will also compliment the industry landscape.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period due to the rising prevalence of chronic diseases such as cancer, cardiovascular diseases, and others. The increase in adoption of digital X-ray system over traditional systems by hospitals and private clinics is expected to boost the growth of the market. Therefore, the adoption of x-rays is beneficial for the accurate diagnosis and treatment of such disorders. This is anticipated to drive the market growth in the region.

Key players in the market

Some of the key players in Medical X-Ray market include Hitachi, Ltd., Hologic, Inc., Allengers Medical Systems Limited, Eurocolumbus s.r.l., Varian Medical Systems, Inc., Vieworks Co., Ltd., Koninklijke Philips N.V., Canon Medical Systems Corporation, Carestream Health, Inc., Shimadzu Corporation, Fujifilm Holdings Corporation, Ziehm Imaging GmbH, Analogic Corporation, Samsung Medison Co., Ltd., Agfa-Gevaert N.V., BMI Biomedical International s.r.l., Control-X Medical GmbH, Siemens Healthcare Private Limited and Poskom Co., Ltd.

Key Developments:

In April 2023, Shimadzu Corporation, a biotechnology research company, released the EZy-Rad Pro radiography system for clinics. It improved to ensure the system can be easily operated by healthcare personnel. In addition, Shimadzu will also help reduce the burden on patients by shortening examination times.

In July 2022, Siemens Healthcare GmbH launched its Multix Impact E X-ray system at European Congress of Radiology (ECR) in Vienna. The launch of the system broadened access to healthcare care at an affordable cost.

In March 2022, NeuroLogica Corp., the U.S. subsidiary of SAMSUNG ELECTRONICS CO., LTD., announced that the company's digital radiography and ultrasound business would operate under a new brand called Boston Imaging to provide innovative medical devices to the market.

Types Covered:

• Chest X-rays
• Lungs X-rays
• Kidney, Ureter, and Bladder X-ray
• Teeth and bones X-rays
• Standard Computed Tomography
• Abdomen X-rays
• Other Types

Portability Covered:

• Portable Systems
• Fixed Systems

Technologies Covered:

• Computed Radiography
• Direct Radiography
• Film-based Radiography

Applications Covered:

• Veterinary
• Dental
• Mammography
• Chest
• Other Applications

End Users Covered:

• Diagnostic Centers
• Hospital
• Research Laboratories
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
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• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances