X-Ray Systems Devices And Equipment Global Market Report 2024

The x-ray systems devices and equipment market size has grown strongly in recent years. It will grow from $16.98 billion in 2023 to $18.38 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period was driven by various factors such as advancements in medical diagnostics, population growth, an aging population, and increased focus on preventive and routine healthcare. These factors collectively led to greater demand for X-ray devices and equipment, as they play a crucial role in diagnosing and monitoring a wide range of medical conditions.

The x-ray systems devices and equipment market size is expected to see strong growth in the next few years. It will grow to $24.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period is expected to be driven by factors such as digital transformation in the healthcare industry, specialized applications of X-ray devices and equipment, population health management efforts, and advancements in radiation safety. Additionally, major trends in the forecast period include the adoption of 3D and cone-beam CT imaging, the use of point-of-care X-ray devices, the integration of artificial intelligence (AI) for enhanced imaging, and the expansion of remote and mobile imaging solutions to improve patient care and diagnostic capabilities.

The growing incidence of injuries worldwide is serving as a driving force for the medical diagnostic X-ray systems, devices, and equipment market. The increasing frequency of accidents, sports-related injuries, severe muscle and bone damage, and other forms of trauma is fueling the demand for diagnostic equipment, particularly X-ray systems and related devices. For instance, in 2021, the National Safety Council reported an 11.9% increase in injury-related deaths in the United States compared to 2020, with 224,935 such deaths. Furthermore, there were 62 million nonfatal preventable injuries recorded in 2021. With the escalating rates of injuries and accidents globally, there has been a corresponding rise in the number of urgent care facilities offering services like blood tests, wound stitching, and X-ray diagnostics.

The main types of X-ray devices and equipment include portable and stationary systems. Portable X-ray devices are smaller and easily movable, allowing dental professionals to capture X-ray images with convenience. X-ray images can be in 2D, 3D, or 4D formats, and various product types include computed tomography, mobile X-ray devices, C-arm devices, dental X-ray, mammography, and more. X-ray technologies can be either analog or digital, and they find applications in cardiovascular, respiratory, mammography, dental, orthopedics, and other medical specialties. These devices are crucial for healthcare professionals to visualize and diagnose medical conditions accurately.

The X-ray devices and equipment market research report is one of a series of new reports that provides X-ray devices and equipment market statistics, including X-ray devices and equipment industry global market size, regional shares, competitors with a X-ray devices and equipment market share, detailed X-ray devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the X-ray devices and equipment industry. This X-ray devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing demand for diagnostic imaging procedures is expected to propel the growth of the X-ray systems, devices, and equipment market. Diagnostic imaging procedures involve medical tests that utilize various technologies to generate images of the body's interior for the purpose of diagnosing diseases, assessing injuries, monitoring treatment effectiveness, and planning surgical interventions. X-ray systems are integral components of these diagnostic imaging procedures, helping identify abnormalities and enabling healthcare professionals to accurately diagnose ailments or injuries. For example, in a 12-month period between September 2020 and August 2021, England's National Health Service reported a total of 40.3 million imaging procedures. This demonstrates the growing need for diagnostic imaging procedures, which, in turn, contributes to the expansion of the X-ray systems, devices, and equipment market.

The market for X-ray systems, devices, and equipment faces challenges due to concerns regarding the potential hazards associated with radiation exposure. These devices emit ionizing radiation, in the form of electromagnetic waves or particles, during diagnostic imaging procedures. Ionizing radiation, which includes X-rays and other sources like CT scans, nuclear medicine scans, and PET scans, carries significant health risks, including the potential for the development of cancer, even with low doses of radiation. According to statistics from the American Cancer Society for 2021, there were 1.9 million newly diagnosed cancer cases in the United States, resulting in an estimated 608,570 cancer-related deaths. Furthermore, when radiation exposure surpasses certain thresholds, it can lead to issues such as skin burns and acute radiation syndrome. A global survey conducted by the National Center for Biotechnology Information (NCBI) on radiation overexposure accidents documented around 2,390 cases of individuals being overexposed to radiation, resulting in 190 fatalities.

The X-ray systems, devices, and equipment market is currently witnessing a surge in mergers and acquisitions (M&A) activity. These M&A deals are primarily driven by companies looking to diversify their business interests into the field of medical diagnostic imaging and radiology. An example of this trend is Siemens Healthineers AG, a German company that manufactures X-ray devices and equipment. In April 2021, Siemens Healthineers acquired Varian, a UK-based manufacturer of X-ray equipment, for an undisclosed amount. This strategic acquisition positions the companies to address the need for precise cancer care and the early diagnosis of cancer, creating a unique portfolio that spans laboratory diagnostics, imaging, and artificial intelligence.

The National Council on Radiation Protection and Measurements (NCRP), in response to the FDA's efforts to reduce unnecessary radiation exposure from medical imaging devices, has recommended the adoption of a new radiation vital sign risk score. This score enhances patient care quality and safety by calculating the potential harm from additional medical radiation exposure. The incorporation of vital signs into electronic medical devices allows for the implementation of protective measures. In a similar vein, the Advisory Committee on X-ray and Radium Protection, part of the NCRP, has outlined approaches and modalities that utilize reduced or non-ionizing radiation for safe and medically appropriate patient care. An example of innovation in this area is ControlRad, a medical technology company operating in the X-ray devices and equipment market. ControlRad Select, which is commercially available through Boston Scientific and can be retrofitted to existing Siemens imaging systems, has been shown to reduce radiation exposure by 57% to the thyroid of the primary cardiologist and by 49% in the case of the secondary cardiologist.

In March 2022, Canon Medical Systems, a Japanese medical equipment manufacturer, acquired Nordisk Røntgen Teknik (NRT) for an undisclosed amount. This acquisition has provided Canon with access to European technology and advanced radiographic solutions. NRT, a Danish medical equipment manufacturer, specializes in diagnostic X-ray systems and technologies.

Major companies operating in the x-ray systems devices and equipment market include Siemens Healthcare, Carestream Health, Philips Healthcare, Hitachi Medical, GE Healthcare, Shimadzu Corporation, Fujifilm Holdings, Toshiba Medical Systems Corporation, Canon Inc., Agfa HealthCare N.V., Hologic Inc., Konica Minolta, Samsung, Analogic Corporation, Summit Industries, Rapiscan Systems, Swissray International Inc., Ziehm Imaging GmbH, RMS India, KUB Technologies Inc., Source Ray Inc., Allengers Medical Systems, Dentsply Sirona, Bennett, MinXray Inc., Varian Medical Systems, Angell Technology, Control-X Medical, DMS Imaging, Esaote, IAE SPA, Infimed Sp. z o.o., Medonica Healthcare Private Limited, PerkinElmer Inc., Planmed Oy

Western Europe was the largest region in the global X-ray devices and equipment market in 2023. North America was the second-largest region in global X-ray devices and equipment market share. The regions covered in the x-ray systems devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the x-ray systems devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The X-ray devices and equipment market consists of sales dental x-ray machine, mobile x-ray machine, veterinary x-ray machine, analog machine, digital machine, and fully digital machine. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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