Global X-ray Market: Snapshot

An X-ray is a type of electromagnetic ionizing radiation, which is applied to a wide variety of industries. This technologically advanced and smaller version of detectors has enabled the integration of analytical procedures and portability. Further, the advancements in medical analytical procedures, such as indirect excitation of x-ray spectra bulk samples and combinations of instruments in a smaller space are expected to boost the market during the forecast period. With the advancements in technology, x-ray detection has evolved to become more safe, effective and easy to use.

The presence of X-ray machines in hospitals enables physicians in detection of somatic issues, as well as trauma. X-ray is very useful for detection and treatment of neurological problems, cancer, cardiac diseases and bone related problems. The existing pervasiveness of these issues will increase demand for the product over the forecast period.  

According to the analysts at TMR, the global X-ray market is expected to rise at a CAGR of 4.5% between 2014 and 2022. In 2013, the market was at a valuation of US$7.89 bn, and is expected to reach US$11.79 bn by 2022.

Digital X-Ray Systems Pick Up Traction Over Forecast Period

Based on the type of the product, the global X-ray market is segmented into portable and stationary X-rays. Stationary X-ray systems held a significant share (60.1%) of the global X-ray market by product type in 2013 as they have been in use since several decades in both mature and developing markets. Over the forecast period of the report, analysts expect that portable X-rays will register enhanced growth, with portable X-rays finding application in the segment of home health care.

In terms of technology, the report divides the market into digital and analog x-ray. Of these, digital X-ray systems emerged as the dominant segment with a market share of 69.1% in 2013, and were trailed by analog systems in the same year. By type of X-ray, the market segments studied are: photostimulable storage phosphor detectors, flat panel detectors, and others. Similarly, the X-ray market by application is composed of dental X-ray, cardiovascular X-ray, mammography (X-ray), respiratory X-ray, and other applications.

Asia Pacific Shows Promising Growth Prospects with Improving Healthcare Sector

North America held a prominent share of the global X-ray market in 2013, closely trailed by Asia Pacific and Europe. North America consists of a number of developed economies such as the U.S. and Canada which house a large number of geriatric population suffering from various cardiovascular, orthopedic, genitourinary, and abdominal diseases and disorders. Hence, surge I the rate of incidence of various disorders coupled with high awareness and affordability among people and well established health care infrastructure in the region increases demand for advanced X-ray systems.

At the same time, the exponentially developing Asia Pacific region is forecasted to register brisk development in this market during the forecast period due to rapid growth expectation of this market in countries such as China and India. The leading factor responsible for the region’s growth in the region is a large pool patients suffering from a range of respiratory, cardiovascular, gastrointestinal, and genitourinary disorders requiring urgent diagnosis and effective treatment. Other determinants include rising government support, increasing awareness and affordability, and corresponding demand for advanced X-ray systems across major economies in the region.

Key players in the global x-ray market are witnessed to be engaged in mergers and acquisitions to gain an impactful share in the market and diversify their product portfolio.

Prominent players profiled by the report include Hitachi Medical Corporation, Toshiba Corporation, Canon, Inc., GE Healthcare, Shimadzu Corporation, Agfa-Gevaert N.V., and Philips Healthcare, among others.

This report on X-ray market studies the current and future prospects of the market globally. The stakeholders of this report include companies engaged in manufacturing and commercialization of X-ray devices, and entrants, planning to invest in the X-ray market. This report comprises an elaborate executive summary, which includes a market snapshot that provides overall information of various segments and sub-segments included in the study scope. This section also provides the overall information and data analysis of the global X-ray market with respect to the leading market segments based on types of products, technology, applications and different geographic regions.
The global X-ray market has been segmented on the basis of product type, technology, application, and geography. On the basis of product type, the market for X-ray is categorized into two major segments, namely, stationary/fixed and portable X-ray systems. The portable X-ray products have been further categorized into two sub-segments, namely, mobile and handheld X-ray systems. Based on technology, the X-ray market is segmented into two major segments, namely, analog and digital X-ray systems. The digital X-ray systems market is further categorized into two major technological systems, namely, computed radiography (CR) and direct digital radiography systems. The market for these segments has been extensively analyzed on the basis of the effectiveness, usefulness, sales revenue, and geographic presence of the X-ray devices. Market revenue in terms of USD million for the period between 2012 and 2022 along with the compound annual growth rate (CAGR %) from 2014 to 2022 are provided for all the segments, considering 2013 as the base year.
On the basis of major types of X-ray detectors that are available in the global market, the X-ray detectors market is categorized into three segments, namely, photostimulable storage phosphor (PSP) detectors, flat panel detectors (FPDs) and other (CCDs, CMOS detectors, etc). Flat panel detectors are further segmented into two categories: Indirect flat panel detectors and direct flat panel detectors. Based upon major application areas, the market is segmented into five categories such as cardiovascular, respiratory, dental, mammography and others (abdominal, orthopedics, general surgery, etc). Market revenue in terms of USD million for the period between 2012 and 2022 along with the compound annual growth rate (CAGR %) from 2014 to 2022 are provided for all the segments, considering 2013 as the base year.
The market overview section of this report explores market dynamics such as drivers, restraints, and opportunities that have strong impact on the X-ray market currently and could influence the market in future as well. The market attractiveness analysis has been provided in the market overview section in order to explain the intensity of competition in the market in different geographies. Porter’s five forces analysis is also explained in this section to understand the X-ray market considering different parameters that have an impact on the sustainability of the companies operating in the X-ray market. The competitive scenario between different market players is evaluated through market share analysis in the competitive landscape section of the report. All these factors would help the market players to take strategic decisions in order to strengthen their positions and expand their shares in the global market.
Geographically, the X-ray market has been categorized into six regions namely North America, Europe, Asia Pacific, Latin America, Africa, and the Rest of the World (RoW). Market revenue in terms of USD million for the period between 2012 and 2022 along with the CAGR % from 2014 to 2022 are provided for all the regions, considering 2013 as the base year. The recommendations section included in the report would assist existing market players in expanding their market share and new companies in establishing their presence in the X-ray market.
The report also profiles major players in the X-ray market on the basis of various attributes such as company overview, financial overview, business strategies, product portfolio, and recent developments. Some of the major players profiled in this report include Agfa-Gevaert N.V., Bracco Imaging S.p.A, Canon, Inc., Carestream Health, Inc., Fujifilm Holdings Corporation, GE Healthcare, Hologic, Inc., Hitachi Medical Corporation, Konica Minolta, Inc., Shimadzu Corporation, PerkinElmer, Inc., Philips Healthcare, Siemens Healthcare, Thales group, Toshiba Corporation, Varian Medical Systems, Inc., and Ziehm Imaging, Inc.
The global X-ray market is segmented as follows:
Global X-ray Market, by Product Type
  • Stationary X-ray
  • Portable X-ray
    • Mobile X-ray
    • Handheld X-ray
Global X-ray Market, by Technology
  • Analog X-ray
  • Digital X-ray
    • Computed Radiography
    • Direct Digital Radiography
Global X-ray Detectors Market, by Type
  • Photostimulable Storage Phosphor (PSP) Detectors
  • Flat Panel Detectors
    • Indirect FPDs
    • Direct FPDs
  • Other X-ray Detectors (CCD, CMOS, X-ray Films, etc.)
Global X-ray Market, by Applications
  • Cardiovascular
  • Respiratory
  • Dental
  • Mammography
  • Others (Abdominal, Orthopedic, etc.)
Global X-ray Market, by Geography
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Africa
  • Rest of the World (RoW)

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