by The global X-ray Machine Manufacturing Market is estimated to be valued at US$ 16.05 Bn or Billion in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
X-ray machines are medical devices used for imaging techniques using electromagnetic radiation for the diagnosis and treatment of patients. X-ray machines produce images of internal body structures such as bones, muscles, and tumours using penetrating radiation. They are typically used for diagnostic procedures and in various medical specialties like orthopaedics, oncology, dentistry and cardiology.
Market key trends:
One of the key trends in the X-ray machine manufacturing market is the shift towards digitization from conventional radiography. Manufacturers are increasingly focusing on developing digital X-ray machines owing to advantages such as improved image resolution and sensitivity, dose reduction, remote diagnostic capabilities, simplified workflow and reduced pricing of digital instruments compared to conventional radiography systems. Digital systems facilitate storage and transfer of high-quality images over computer networks for consulting radiologists to remotely examine patients. This significantly improves diagnostic accuracy and reduces healthcare costs.
SWOT Analysis:
- Strength: X-ray machines have well established usage in various end use industries like healthcare, aerospace, automotive, etc. They offer non-destructive testing capabilities.
- Weakness: High maintenance costs of X-ray machines. Stringent regulations surrounding the use of X-ray equipment.
- Opportunity: Emerging applications of X-ray machines in 3D printing, security scanning will drive future opportunities. Growing healthcare sector in developing nations.
- Threats: Development of alternative technologies like CT scanners and Ultrasound pose threat to X-ray machines. Intense competition among existing players.
Key Takeaways:
The Global X-Ray Machine Manufacturing Market Demand is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing demand for advanced medical imaging solutions.
Market size: The global X-ray Machine Manufacturing Market size was valued at US$ 16.05 Bn in 2023 and is anticipated to reach US$ 25.73 Bn by 2030, expanding at a CAGR of 5.8%. Growing need for better healthcare infrastructure and increasing investments in new medical technologies are fueling the market growth.
Regional analysis: North America dominates the global X-ray machine manufacturing market owing to growing healthcare expenditure and rising demand for medical imaging in the region. Asia Pacific is expected to witness fastest growth due to increasing patient pool, developing healthcare infrastructure and growing medical tourism in the region.
Key players: Key players operating in the X-ray Machine Manufacturing market are Siemens AG, Canon Inc., Hologic Inc., Philips Healthcare, GE Healthcare, Shimadzu Corporation, Hitachi Medical Corporation, and Fujifilm Holdings Corporation, among others. Players are focusing on developing innovative X-ray solutions to consolidate their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
