The global medical x-ray market is characterized by the presence of several market players including Koninklijke Philips NV, Varex Imaging Corp., Teledyne Technologies Inc., and others. The players operating in the global medical x-ray market industry are adopting various strategies to capitalize on market growth. For instance, in August 2019, Koninklijke Philips NV completed the acquisition of Carestream Health Inc.’s Healthcare Information Systems (HCIS) business in 26 of the 38 countries in which it operates. Carestream HCIS’s cloud-enabled enterprise imaging platform will expand Philips’ enterprise diagnostic informatics solutions, including productivity enhancement, imaging data management, and advanced visualization and analysis. Thereby, strengthening the revenue stream of the company.
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Furthermore, in March 2019, Varex Imaging Corp. has announced to acquire at least 90% of the shares of common stock of Direct Conversion AB, manufacturer and marketer of linear array digital detectors utilizing direct conversion and photon counting technology. The acquisition was aimed to expand product portfolio and to extend geographical outreach, particularly in the global medical x-ray market. In addition, in March 2018, Teledyne Technologies Inc. announced that the company’s subsidiary, Teledyne DALSA, Inc., is expanding its manufacturing facility due to the increasing demand for the company’s proprietary complementary metal-oxide-semiconductor-based x-ray detectors across the globe.
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Increasing Geriatric Population Susceptible to Orthopedic Disorders is Driving the Chinese Medical X-Ray Market Growth
United Nations stated that the number of aged people in China is projected to grow by 71% between 2015 and 2023. World Economic Forum stated that, in 2015, the number of aged people in China (136.9 million) surpassed Japan’s total population (126.9 million). Moreover, this number is projected to grow to 238.8 million, by 2030, which will be less than the combined total projected populations of Japan and Egypt (231.8 million). This number is further projected to grow up to 348.8 million which will be nearly equal to the combined populations of Japan, Egypt, Germany, and Australia.
The increasing number of aged people in the country may lead to a rise in the prevalence of orthopedic disorders such as osteoporosis, which surges the demand for medical x-ray devices across the country. Aging plays an important factor in developing the possibility of osteoporosis among different sex-groups. As per the International Osteoporosis Foundation, the prevalence rate of osteoporosis in women aged 50 years or above is nearly 50.1% in the country. Osteoporosis leads to fracture of bones, which surges the need for effective diagnosis for the disorder so that effective treatment can be carried out by the patient. This surges the growth of the global medical x-ray market.
Current Market Trends Covered in the Global Medical X-Ray Market Report
- On the basis of the type, the digital medical x-ray device segment is estimated to hold a dominating market share during the forecast period.
- Asia-Pacific is estimated to gain maximum traction in the global medical x-ray industry during the forecast period.
- Based on the end-use segment, the diagnostic centers segment is estimated to foresee an optimistic growth rate over the forecast period.
Global Medical X-Ray Market Segmentation
By Type
- Digital
- Analog
By Technology
- Film-based Radiography
- Computed Radiography (CR)
- Direct Radiography (DR)
By Application
- Tumor/Cancer
- Orthopedic
- Cardiovascular Diseases
- Dental
- Others
By End-Use
- Hospitals
- Diagnostic Centers
Global Medical X-Ray Market – Segment by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Analogic Corp.
- Canon Inc.
- Dentsply Sirona, Inc.
- Fujifilm Holdings Corp.
- General Electric Co.
- Hitachi Medical Systems Holding
- Hologic Inc.
- Idetec Medical Imaging
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