PUBLISHER: The Business Research Company | PRODUCT CODE: 1500035
PUBLISHER: The Business Research Company | PRODUCT CODE: 1500035
Diagnostic X-ray systems are a crucial category of medical imaging equipment employed to generate internal body images for diagnostic assessment. These systems utilize X-rays, a form of electromagnetic radiation, to create detailed visuals of bones, organs, and tissues.
The primary offerings within diagnostic X-ray systems encompass medical X-ray devices, X-ray diffraction (XRD), security X-ray devices, and X-ray fluorescence (XRF), including SAXS or WAXS. Medical X-ray devices specifically refer to those utilized in medical contexts to produce diagnostic images of internal bodily structures using X-rays. These systems find applications across medical, research and development, and security domains, serving diverse end users such as hospitals, diagnostic imaging centers, airports, malls, railway and metro stations, government facilities, and homeland security establishments.
The diagnostic X-ray system market research report is one of a series of new reports from The Business Research Company that provides diagnostic X-ray system market statistics, including the diagnostic X-ray system industry global market size, regional shares, competitors with diagnostic X-ray system market share, detailed diagnostic X-ray system market segments, market trends, and opportunities, and any further data you may need to thrive in the diagnostic X-ray system industry. This diagnostic X-ray system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The diagnostic X-ray system market size has grown strongly in recent years. It will grow from $12.64 billion in 2023 to $13.79 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth observed in the historical period can be credited to regulatory compliance, an aging population, advancements in healthcare infrastructure, rising prevalence of diseases, and the need for more sophisticated diagnostic technologies.
The diagnostic X-ray system market size is expected to see strong growth in the next few years. It will grow to $19.76 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The Anticipated growth in the forecast period is driven by the extension of healthcare infrastructure, escalating demand for point-of-care diagnostics, emphasis on preventive healthcare measures, and the expansion of emerging markets. Noteworthy trends expected in the forecast period comprise the emergence of portable and wireless systems, integration of artificial intelligence for improved diagnostics, adoption of low-dose radiation techniques, increased utilization of point-of-care diagnostics, and the rise of telemedicine and remote imaging services.
The anticipated increase in surgical procedures is poised to drive growth in the diagnostic X-ray system market. This surge can be attributed to advancements in medical technology, improved access to healthcare services, aging populations, and the rising incidence of chronic illnesses necessitating surgical intervention for diagnosis and treatment. Diagnostic X-ray systems play a crucial role in surgical procedures, aiding in pre-operative planning, intra-operative guidance, and postoperative evaluation by providing real-time imaging of anatomical structures. For example, data from 294 plastic surgery practices in the U.S., collected by the Aesthetic Society in April 2022, revealed a 54% increase in surgical procedures, with plastic surgeons performing an average of 320 procedures in 2021. Additionally, the average cost of surgical procedures rose by 6% in 2021, further fueling the growth of the diagnostic X-ray system market.
Key players in the diagnostic X-ray system market are developing innovative X-ray systems incorporating advanced technologies such as artificial intelligence (AI) to enhance diagnostic accuracy, streamline workflow efficiency, and optimize patient care. AI involves the use of machine learning algorithms and computer vision techniques to analyze and interpret X-ray images for medical purposes. For instance, in December 2023, DeepTek.ai, an Indian medical imaging AI startup, introduced Augmento X-Ray, an FDA-cleared CADe chest X-Ray solution powered by AI. This solution aims to reduce radiologist workload by 30-50%, enhance workflow efficiency, and improve patient care by providing comprehensive analysis for various lung, pleura, and cardiac conditions, as well as detecting foreign objects within the chest.
In February 2023, Molbio Diagnostics, an Indian diagnostics manufacturer, acquired a 70% stake in Prognosys Medical System for an undisclosed sum. This strategic acquisition is intended to offer comprehensive healthcare solutions, including mobile screening and e-clinics, to underserved communities. Prognosys Medical Systems specializes in portable digital X-ray units with AI-driven interpretation, thereby enhancing point-of-care diagnostics for various diseases.
Major companies operating in the diagnostic x-ray system market are Hitachi Ltd., General Electric Company, Thermo Fisher Scientific Inc., Siemens Healthineers, FUJIFILM Holdings Corporation, Koninklijke Philips N.V., Leidos Holdings Inc., B. Braun, Hologic Inc., Shimadzu Corporation, Canon Medical Systems Corporation, Bruker Corporation, Carestream Health Inc., OSI Systems Inc., Anton Paar GmbH, Malvern Panalytical Ltd., Smiths Detection Group Limited, Rigaku Corporation, NUCTECH COMPANY LIMITED, Astrophysics Inc., Proto Manufacturing Inc., Konica Minolta Healthcare Americas Inc., Toshiba Medical Systems Corporation, Medlink Imaging LLC, ODSecurity
North America was the largest region in the diagnostic X-ray system market in 2023. The regions covered in the diagnostic x-ray system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the diagnostic x-ray system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The diagnostic X-ray system market consists of sales of digital radiography systems, fluoroscopy systems, X-ray tubes, X-ray detectors, and X-ray films. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Diagnostic X-Ray System Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on diagnostic x-ray system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for diagnostic x-ray system ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The diagnostic x-ray system market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.