The global x-ray imaging market is growing at a rapid pace, mainly driven by the increasing aging population with rising incidences of chronic diseases such as cancer, lung disease and rheumatoid arthritis. Meanwhile, surging healthcare expenditure around the world is also facilitating the growth of the global x-ray imaging market. In addition, the continuous improvement of healthcare infrastructure in major developing counties such as China and India is expected to further drive the global x-ray imaging market.
According to the recent report from Research and Markets, the global x-ray imaging market was valued at nearly US$8.9 billion in 2015 and is projected to reach US$11.92 billion by the end of 2021, growing at a CAGR of 5.0% from 2016 to 2021. Based on portability, the portable x-ray segment is expected to witness the fastest growth of all three segments during the forecast period, at a CAGR of 7.2% in the global market.
What is the definition of x-ray imaging and how does it work? X-ray imaging utilizes the ability of high-frequency electromagnetic waves to pass through soft parts of the human body and form an image of computerized tomography (CT). For medical applications or diagnostic purposes, x-rays are usually generated in vacuum tubes by bombarding a metal target with high-speed electrons passing through the patient’s body to a photographic plate or digital recorder to produce a radiograph.
The market report suggests that the new products featuring advanced technologies will substantially drive market growth. Advances in radiographic systems used in routine examinations (chest, neck/spine, and limbs), specialty services (dental and mammography), and emergency services (ICU, neonatal ICU, and hospital wards) have resulted in the development of new radiation sources and technologies utilizing neutrons and x-rays.
Currently, North America is leading the global x-ray imaging market. This is mainly due to the increasing research activity that is being conducted for the advancement of imaging technology. Moreover, the x-ray imaging market in Asia-Pacific, especially China and India, is expected to witness the highest growth rate globally over the next few years, driven by the growing aging population and the surge in chronic disease rates.
At present, some of the world’s leading x-ray imaging system and diagnostic x-ray machine manufacturers include: Siemens Healthcare (Germany), Carestream (the US), Philips Healthcare (the Netherlands), Toshiba Medical Systems (Japan), GE Healthcare (the US), Hitachi Medical (Japan), Shimadzu (Japan), and Agfa Healthcare (Belgium).
Top x-ray imaging manufacturers