X-ray Systems Market Size, Trend and Forecast 2022


 

The global x-ray systems market size is expected to reach USD 9.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 2.3% from 2022 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.

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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.

X-ray Systems Market Report Highlights

  • The radiography segment dominated the market and is further expected to continue its dominance over the forecast period, as it is the initial diagnostic imaging step recommended by doctors on their way to a definitive diagnosis
  • The digital radiography segment is expected to grow at the fastest rate during the forecast period, as it produces high contrast resolution images at a lower ionizing radiation
  • Based on mobility, the stationary segment held the largest revenue share in 2021
  • The mobile x-ray systems segment is expected to grow at a lucrative rate during the forecast period, owing to its portability, image quality, speed, and safety
  • The diagnostic imaging center segment is expected to grow at a fastest rate during the forecast period
  • North America dominated the market and accounted for the largest revenue share in 2020
  • Asia Pacific is anticipated to be growing at the fastest CAGR over the forecast period owing to the increased demand for better imaging devices

Key Companies & Market Share Insights

The key players are developing high-end mobile x-ray systems, which gained popularity since the Covid 19 pandemic, as well as integrating Artificial Intelligence (Al) into these imaging systems, which have demonstrated impressive accuracy and sensitivity in the detection of imaging abnormalities. As a result, it is being more widely adopted and used in the field of medical imaging. For instance, In November 2021, GE Healthcare received FDA clearance for its artificial intelligence (AI) algorithm to help healthcare professionals evaluate Endotracheal Tube (ETT) placements. The AI algorithms are installed in a mobile x-ray device for automated measurements, case prioritization, and quality control. Furthermore, these players are developing strategic collaborations in order to adopt and develop advanced software that can boost the output of medical imaging. Some of the prominent players in the X-ray systems market include: Koninklijke Philips N.V., Siemens Healthineers AG, GE Healthcare, Canon Medical Systems, Shimadzu Corporation, FUJIFILM SonoSite, Carestream, Mindray Medical International Limited, Hologic, New Medical Imaging, AGFA

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