X-ray Systems Market is projected to grow at a CAGR of over 2.2% during 2022 to 2032 | Exclusive Report by FMI
The X-ray Systems Market revenues were estimated at US$ 6.9 Bn in 2021 and is anticipated to grow at a CAGR of 2.2% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 8.7 Bn. Revenue through the computed radiography segment is set to reach a valuation of US$ 4.6 Bn during the forecast period.
Medical imaging has changed dramatically in recent years as a result of the rising popularity of digital radiology systems. Diagnostic accuracy is at the heart of the healthcare sector, and digital X-ray imaging is a large part of it. Furthermore, the inclusion of AI in these systems has aided market expansion. A primary driver of the segment is the quest for early-stage identification of chronic disorders. Furthermore, market expansion is projected to be aided by future technological advances, greater product development, improved funding, and government efforts, particularly in emerging countries like as India and China.
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Market growth is likely to be fueled by rising awareness and acceptance of preventive healthcare and sickness screening programs. Diagnostic accuracy in the early stages of many illnesses is predicted to improve as image quality enhances. This can aid towards the faster diagnosis and treatment of a range of life-threatening conditions, such as cancer and a variety of cardiovascular issues. As a consequence, market growth is expected to be aided by growing use of X-ray equipment for detecting different illnesses.
In addition, as a result of the COVID-19 outbreak, demand for portable X-ray devices has increased dramatically. As healthcare professionals become more aware of the benefits of mobile X-ray systems, they may consider switching to mobile diagnostic equipment owing to its faster image processing, workflow optimization, integrated AI, and other features.
Key Takeaways from the Market Study
- Global X-ray Systems Market is expected to cross a market size of US$ 7 Bn by 2022.
- Computed Radiography technology, is expected to grow at the highest CAGR of 2.2% during the forecast period.
- In terms of Mobility, Mobile X-ray Systems accounts for the highest CAGR of 2.1% during the historic period (2017-21).
- United States is projected to remain the dominant market with absolute dollar opportunity of US$ 649 Mn during 2022 – 2032.
- The market in Japan is set to experience the highest CAGR of 2.9% during the 2022-2032 forecast period.
“Artificial intelligence and diagnostic accuracy are projected to boost the X-Ray industry at a rapid rate, due to the increasing number of patients suffering from various diseases, and the increasing number of surgeries performed to remove tumors and other diseases.” comments a Future Market Insights analyst.
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The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the X-ray Systems Market are focused on R&D to produce innovative technological solutions.
- In October 2021, Siemens Healthineers announced the launch of Luminos Impulse, a 2-in-1 remote-controlled imaging system that combines fluoroscopy and radiography for better clinical productivity and efficiency.
- In August 2021, GE Healthcare and Amazon Web Services entered into partnership wherein they will offer artificial intelligence and cloud-based imaging solutions to hospitals and healthcare providers.
- In June 2021, the Indian government released X-Ray Setu, a free AI-based technology to assist clinicians with early Covid therapy.
- In August 2020, Canon Inc. introduced a Mobile Digital X-ray system that simplifies detector charging and storage capacity while increasing detector wireless range and productivity. The SOLTUS 500 has received FDA 510(k) clearance.
- In January 2020, Thales and NEHS Digital partnered together to deploy innovative technology to speed up the hospital admissions process during a crisis. This project brings together Thales’ radiography and AI expertise, as well as NEHS’ digital footprint in the French healthcare system.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the X-ray Systems Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in X-ray Systems Market Global X-Ray Systems Market by Technology (Digital Radiography, Computed Radiography), Mobility (Stationary, Mobile), End-use (Hospitals, Diagnostic Imaging Centres) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Future Market Insights’ Domain Knowledge in Healthcare Division
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Healthcare domain team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed the Healthcare industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
For more information, refer to our market research report or contact the PR author.
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Market Segments Covered in X-Ray Systems Market Analysis
- Digital Radiography
- Computed Radiography
By Mobility :
By End Uses:
- Diagnostic Imaging Centres
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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