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X-ray Market To Value US$11.79 bn By 2022

Presently, the global market for X-ray systems and technologies is witnessing steady growth due to high prevalence and increasing incidence of cardiovascular, respiratory, gastrointestinal, and genitourinary, and several other disorders. Additional
With the prevalence of dental, respiratory, and cardiovascular diseases rising, so is the use of Xrays. This will augur well for the growth of the global X-ray market, states Transparency Market
Research in its study, titled ‘X-ray Market - Global Industry Analysis, Size, Share, Growth, Trends
and Forecast 2014 - 2022’. TMR states that the global X-ray market will log a CAGR of 4.5%
between 2014 and 2022 as it rises from its valuation of US$7.89 bn in 2013 to US$11.79 bn by
The recent commercialization of highly sophisticated X-ray systems and techniques has helped
companies enrich their product portfolio and given buyers the ability to invest in more effective
products. Moreover, a rapidly aging population, which has caused an increase in the demand for
healthcare products and services, will help the X-ray market expand.
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Among the key market restraints identified by TMR analysts are: High costs that could hinder
widespread adoption and the enforcement of legal provisions that promote healthcare facilities to
cut service costs. Market players can benefit from emerging opportunities in countries in Latin
America, Africa, and Asia Pacific. The report also conducts a Porter’s five forces analysis to
provide clarity on the bargaining power of suppliers and buyers as well as threats posed by
substitutes and new market entrants.
The global X-ray market is segmented on the basis of product type, technology, type, applications,
and geography. Based on product type, the global X-ray market is segmented into portable and
stationary X-rays. Stationary X-ray systems held a sizeable 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 report’s forecast period, it is expected that portable X-rays will show
better growth, more so as portable X-rays find application in home health care.
Likewise, by technology, the report divides the market into digital and analog x-ray. Of these,
digital X-ray systems made up the dominant segment with a 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. In 2013, North America was the largest X-ray market in
the world, with an impressive share of 34.6% in the global market. Asia Pacific and Europe trailed
North America. The presence of developed economies such as Canada and the United States in
North America has helped the region consolidate its leading position in the global X-ray market.
The high geriatric population and rising prevalence of diseases requiring X-rays as part of the
diagnostic process have created growth opportunities for market players in this region.
In terms of growth rate, however, Asia Pacific will take the lead and emerge as the fastest-growing
region in the global X-ray market. Much of this growth will be made possible by the enormous
demand for healthcare from China and India, where people increasingly suffer from numerous
The report’s Company Profiles section assesses market players such as: Carestream Health, Inc.,
Shimadzu Corporation, Fujifilm Holdings Corporation, Canon, Inc., Philips Healthcare, AgfaGevaert N.V., Konica Minolta, Inc., GE Healthcare, and Hitachi Medical Corporation.
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Transparency Market Research (TMR) is a global market intelligence company providing business
information reports and services. The company’s exclusive blend of quantitative forecasting and
trend analysis provides forward-looking insight for thousands of decision makers. TMR’s
experienced team of analysts, researchers, and consultants use proprietary data sources and various
tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it
always reflects the latest trends and information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary research techniques to
develop distinctive data sets and research material for business reports.
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