X-ray Market Expected to Reach USD 11.79 Billion Globally in 2022: Transparency Market Research

According to a new market report published by Transparency Market Research X-ray Market [Product Type: Stationary & Portable (Mobile & Handheld); Technology: Analog & Digital (Computed Radiography & Direct Digital Radiography); Applications: Cardiovascular, Respiratory, Dental, Mammography & Others]: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2022”, the global X-ray market was valued at USD 7.89 billion in 2013 and is expected to expand at a CAGR of 4.5% from 2014 to 2022 to reach USD 11.79 billion in 2022.
Browse the full report, Table of Contents and Segmentations: http://www.transparencymarketresearch.com/x-ray-market.html
Geographically, the global market has been segmented into six major regions: North America, Europe, Asia Pacific, Latin America, Africa and Rest of the World (RoW). North America accounted for a majority share of the global X-ray market in 2013, followed by Asia Pacific and Europe. The X-ray market is growing steadily at a CAGR of 4.5% due to high prevalence of cardiovascular diseases, respiratory disorders, and breast cancer. According to the World Health Organization (WHO), an estimated 17.5 million people died due to cardiovascular diseases in 2012, accounting for approximately 31% of the global deaths. Moreover, 235 million people were diagnosed with asthma across the world in 2014. X-ray systems play an important role in the diagnosis of respiratory and cardiovascular diseases. High prevalence of these diseases is leading to increased demand for advanced X-rays systems for early diagnosis and effective treatment.
North America was the largest market for X-ray systems in terms of revenue in 2013. Dominance of North America has been majorly attributed to the high prevalence of cardiovascular and respiratory diseases, financial capability to purchase expensive devices, and high awareness about advanced radiology procedures. North America was followed by Asia Pacific. Higher awareness, improving health care infrastructure, rising prevalence of breast cancer, significant growth in medical tourism, and high acceptance of improved radiological procedures are contributing to the growth of the X-ray market in Asia Pacific and improving market share. The X-ray market in Asia Pacific offers large opportunities and is projected to expand at a high rate in the next few years. According to WHO statistics, India and China account for one third of the global breast cancer burden in 2012. Breast cancer accounted for 233,000 new cases and 44,000 deaths in the U.S., followed by China with 187,000 new cases and 48,000 deaths, and India with 145,000 and 70,000 deaths.
Europe was the third largest market for X-ray systems in 2013 due to high awareness about available radiology products, favorable reimbursement policies, high prevalence of cardiovascular and respiratory diseases, and economic stability to purchase expensive radiology equipment. Additionally, as per the WHO estimates, Europe was the highest smoking region in 2008 globally. High prevalence of smoking and significant exposure to particulate matter in countries in Europe has led to serious respiratory disorders in the region. High prevalence of respiratory diseases in various nations in Europe is leading to increased usage of X-ray devices for diagnosis and monitoring of respiratory diseases in the region. Significant growth in medical tourism from North America and Europe to countries across Asia Pacific would also lead to higher number of radiology procedures, driving demand for X-ray systems in these regions.
Latin America is a major market for X-ray systems due to increasing investments by market players in the region. The X-ray market in Latin America is projected to expand at a high rate during the forecast period from 2014 to 2022 and is expected to present huge growth opportunities. Improving health care scenario, rising prevalence of respiratory and cardiovascular diseases, and increasing investments by market players in this region are the major factors fueling the growth of the X-ray market in Latin America. According to the WHO, the prevalence rate of asthma symptoms in children ranged from 20% to 30% in Brazil, Panama, Costa Rica, Peru, and Uruguay in 2013.
Siemens Healthcare, Philips Healthcare, GE Healthcare, Carestream Health, Inc., FUJIFILM Holdings Corporation, Varian Medical Systems, Inc., Shimadzu Corporation, Agfa-Gevaert N.V., Hitachi Medical Corporation, Canon, Inc., Konica Minolta, Inc., and Toshiba Corporation are the major players operating in the global X-ray market. In terms of revenue, Siemens Healthcare, Philips Healthcare, GE Healthcare, Carestream Health, Inc. and FUJIFILM Holdings Corporation operate in most of the segments of the X-ray market, thereby intensifying competition at the global level.
The global X-ray market has been 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 
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Rohit Bhisey

An AVP at the Marketing department at Transparency Market Research, Rohit has his fingers firmly placed on the pulse of the business world. He has a keen eye for any new development that could rock our world. He is adept at strategizing to boost web traffic and generate new leads. He is also an expert in Google Analytics, something which he feels could go a long way in getting sites more traction by providing necessary insights. Rohit is a Bachelor in Computer Science from the Pandit Ravishankar Shukla University and takes keen interest in writing news articles on technology, business, and healthcare.

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