The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global x-ray systems market size is expected to reach USD 10.43 billion by 2025, according to a new report by Grand View Research, Inc., registering a 2.9% CAGR during the forecast period. Rising investments in medical technology, increasing R&D activities, and surge in product launches are key factors driving market growth.
Prominent modalities include radiography, fluoroscopy, and computed radiography. Computed radiography systems are the most preferred systems, as they provide sharp images in a shorter time. Moreover, the imaging plates can be reused. Fluoroscopy is also gaining prominence in developed countries such as U.S. and Canada.
X-ray systems can be stationary or portable. Even the stationary systems dominated the market in 2017 in terms of revenue, the portable kind are poised to witness faster growth. Stationary radiography systems have significant demand in developing countries where adaption to new technology is slow. Portable systems are preferred over stationary variants due to their mobility, which makes them more convenient and flexible for use.
Some of the key players in this market are Koninklijke Philips N.V.; GE Healthcare; Hitachi, Ltd.; Shimadzu Corporation, Fujifilm Medical Systems; Siemens Healthineers; Canon Medical Systems Corporation; Carestream Health; Hologic, Inc.; and Biosign. Expansion of regional and service portfolio and merger and acquisitions are some of the leading strategic undertakings adopted by these players. For instance, in December 2016, Hitachi acquired Kurt & Kurt, a medical diagnostic system provider, to expand its businesses in Turkey.
Further key findings from the report suggest:
- The global X-ray systems market was valued at USD 8.3 billion in 2017 and is expected to at a modest pace over the forecast period
- Based on type, digital systems are anticipated to grow at the fastest rate as analog systems fade out
- By modality, the computed radiography segment was valued at USD 2.9 billion in 2017, emerging as the market leader. Fluoroscopy will register the fastest growth over the forecast period
- While hospitals enjoy the dominant share on the basis of end use, the diagnostic centers segment is anticipated to register a CAGR of 3.6% from 2018 to 2025