PUBLISHER: Grand View Research | PRODUCT CODE: 1529857
PUBLISHER: Grand View Research | PRODUCT CODE: 1529857
The global x-ray systems market size is expected to reach USD 10.16 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.26% from 2024 to 2030. Technological advancements in the healthcare sector and supportive investments by the government are driving the market. In addition, increase in the demand for early-stage diagnosis of chronic diseases and screening programs are expected to boost market growth.
Emerging innovations in the x-ray systems is expanding the market size, such as integration of Artificial Intelligence (AI) in medical imaging systems, robotic, and mobile x-ray systems have made the technology more accessible for use in limited-resource communities around the world. For instance, in March 2021, Philips healthcare announced partnership with Lunit, a leading medical AI startup, with this collaboration Lunit's INSIGHT CXR chest detection suite will be incorporated into Philips diagnostic x-ray suite, to achieve better patient outcomes, improve the experience of patients and staff, and lower the cost of care.
The rising prevalence and awareness of chronic diseases like cancer, neurological conditions, orthopedics and cardiovascular diseases, which demands the adoption of x-ray systems for diagnosis are expected to expand the market during forecast period. Furthermore, the growing adoption of Digital Radiography (DR) is expected to boost the market growth as DR systems produces, high contrast resolution images at a lower ionizing radiation.
The market's prominent competitors are taking different initiatives such as acquisition, funding, and product development in order to expand their product portfolio and enhance their manufacturing capacity. For instance, in November 2020, GE healthcare announced the first AI algorithms set in a mobile x-ray device for automated measurements, case prioritization and quality control.