X-Ray Equipment Market by Technology and Geography - Forecast and Analysis 2020-2024
Global X-Ray Equipment Market: About this market
Technavio’s X-ray equipment market analysis considers sales from both digital and analog technology. Our study also finds the sales of X-ray equipment in Asia, Europe, North America, and ROW. In 2019, the digital segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as reduced space requirement for device installation, high image quality, and improved medicare reimbursement rates will play a significant role in the digital segment to maintain its market position. Also, our global X-ray equipment market report looks at factors such increasing incidence of chronic diseases, growing demand for non-invasive diagnostic devices, and growth in the adoption of portable devices. However, high cost of X-ray equipment, stringent regulations, and product recall, and cybersecurity vulnerabilities associated with X-ray equipment may hamper the growth of the X-ray equipment industry over the forecast period.
Global X-Ray Equipment Market: Overview
Adoption of portable devices
The demand for portable X-ray machines is increasing significantly as they are a convenient, lightweight, and cost-effective solution for low-resource settings in developing economies. Some of the portable X-ray machines available in the market are MOBILETT Elara Max by Siemens and CARESTREAM DRX-Revolution by Carestream Health. Moreover, the increasing demand for patient-centric medical care with bedside imaging will lead to the expansion of the global X-ray equipment market at a CAGR of almost 6% during the forecast period.
Technological innovations in medical equipment have enabled physicians to provide quality care to patients, with better access to information and medical telecommunications. Technological advances in X-ray equipment include automation and upgrade of analog X-ray equipment with a digital detector to improve workflow and provide safe, cost-effective, and faster disease diagnosis for patients. Researchers are also advancing X-ray technology to improve clinical and workflow efficiency. For instance, the European Organization for Nuclear Research (CERN) developed a scanner using particle-tracking technology that uses 3D color X-rays to capture high-resolution images of human anatomy, including soft tissues, for the diagnosis of cancer, bone and joint diseases, and vascular diseases. The color X-ray imaging technology produces more clear and accurate pictures, which enables radiologists to diagnose the diseases more accurately. Thus. technological advances support the growth of the global X-ray equipment market. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global X-ray equipment market during the forecast period 2020-2024, click here.
With the presence of several major players, the global X-ray equipment market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading X-ray equipment manufacturers, that include Agfa-Gevaert NV, Canon Inc., Carestream Health Inc., FUJIFILM Holdings Corp., General Electric Co., Hitachi Ltd., Hologic Inc., Koninklijke Philips NV, Shimadzu Corp., and Siemens AG.
Also, the X-ray equipment market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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