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The global medical x-ray market size was valued at USD 12.89 billion in 2021. The market is projected to grow from USD 13.55 billion in 2022 to USD 20.12 billion by 2029, exhibiting a CAGR of 5.8% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with medical x-ray experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of -4.8% in 2020 as compared to 2019.
In medical x-ray, the image is formed with a screen-film system, CR cassette, and digital detectors. Analog x-ray systems were widely used in the past as these systems were more cost-effective than others. Nowadays, the existing installed analog x-ray systems at hospital facilities are upgraded to the digital x-ray systems via retrofit solutions. The adoption of digital x-ray systems is due to the latest advancements in x-ray systems, which includes quick transfer of images, low radiation frequency than analog systems, safety, and high image quality than analog systems.
There are various applications where x-ray systems are used such as oncology, dental, cardiovascular, musculoskeletal, and others. The development of advanced systems by smart technologies, such as Artificial Intelligence (AI) and machine learning, by leading medical device manufacturers has also emerged as a vital growth factor in the market.
The global medical x-ray market growth was negatively impacted during COVID-19. Factors responsible for the decline in the market include delay in the diagnosis and treatment of various chronic diseases such as cardiovascular diseases, oncology, and others, which impacted on the diagnosis rate during the period.
Additionally, restrictions imposed by the governments of the different countries led to the disruption in the supply of these x-ray systems during the COVID-19 pandemic. Thus, the number of radiology practices around the world decreased in 2020. For instance, according to the study published by Springer, there was about 5.1% decline in the total interventional radiology procedures performed during the COVID-19 pandemic in the U.S. Also, according to the NCBI, in the U.S., there was a 53.4% decrease in x-ray procedures during March to April 2020. Since the World Health Organization (WHO) announcement regarding the extreme nature of the global pandemic, various countries ordered lockdown measures to curtail the spread of the infection. Also, healthcare systems implemented restrictions limiting the number of patients they serve to decrease exposure risk. These restrictions, coupled with stay-at-home orders, resulted in a sharp decline in demand for imaging services
The market players witnessed a significant decline in revenue generated during 2020. For instance, Koninklijke Philips N.V. registered a decline of -3.7% in revenues generated from its diagnostic imaging segment in 2020. In 2021, the company registered a growth of 5.6% in revenue generated from its diagnostic imaging segment.
However, in 2021, the market observed a pre-pandemic shift due to factors such as increased number of elective procedures. Additionally, the increasing penetration of x-ray systems during the period is a key factor responsible for the pre-pandemic growth of the market
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The healthcare sector is witnessing a gradual shift of preference from analog x-ray systems to digital x-ray systems. The shift of analog to digital x-ray systems is attributed to the lower radiation dose of digital systems, better image quality, and better results in less downtime. Hospitals and other healthcare facilities are focusing on the installation of digital x-ray systems rather than analog or CR systems due to its benefits over others. The federal reimbursement changes have supported the shift of analog x-ray systems toward digital x-ray systems, and thus the healthcare facilities are focusing on the installation of digital x-ray systems over others.
Additionally, changing reimbursement policies for x-ray systems is a major factor responsible for the shift of analog x-ray systems to digital x-ray systems. In November 2016, the Medicare system started reducing payments for the exams performed on analog x-ray systems for the adoption of Digital Radiography (DR) in the U.S. by 2017. Also, the payment reduction was also done for the Computed Radiography (CR) equipment from 2018. Medicare payments were reduced by 20.0% for the providers submitting claims for analog x-ray studies from 2017 under a provision in the Consolidated Appropriations Act of 2016, which was enacted into law in December 2015. By 2018, the payments for imaging studies performed on CR equipment will be reduced by 7.0% till 2022 and after that it will be 10.0%.
All the above-mentioned advantages have enabled a rapid shift and the growing preference for digital x-ray equipment. This is expected to boost the market growth during the forecast period.
The growing burden of chronic diseases is one of the major factors responsible for the increasing diagnostic imaging tests performed globally. For instance, according to the World Health Organization (WHO), about 65 million people globally suffer from Chronic Obstructive Pulmonary Disease (COPD). Additionally, according to the CDC, in 2021, about 18.2 million adults aged 20 and older are suffering from coronary artery disease in the U.S. For the diagnosis of heart diseases, many physicians primarily require chest x-rays of the patients. Thus, increasing prevalence of these conditions is leading to the demand for cost-effective and efficient diagnostic tools such as x-ray systems.
Additionally, the growing prevalence of age-related disorders such as osteoporosis due to rising geriatric population is supporting the demand for diagnostic imaging tests such as x-rays.
This combined with the rising incidences of neurological conditions as well as musculoskeletal conditions is responsible for the increasing number of medical x-ray procedures globally. According to the NCBI, in 2020, around 96.9 per 1,000 x-ray procedures per 1,000 patients were performed in Poland. Technological advancements in x-ray systems and its increasing applications in detecting coronary syndrome, abnormal blood flow to the heart muscles, blockages in arteries, and other crucial cardiac conditions are expected to drive the x-ray systems market.
Technological advancements in medical x-ray systems is one of the important driving factors of the market. Technological developments in the market disrupted the demand for analog x-ray systems and helped to digitize and mobilize the x-ray systems globally.
Digitalization in x-ray systems, mobile x-ray systems, and smaller sizes of the devices are some of the factors leading to the innovation in x-ray systems. These developments have enabled precise and even more accurate x-ray imaging coupled with increasing range of applications and greater patient comforts.
Moreover, incorporation of artificial intelligence and machine learning in x-ray systems has further improvised the capabilities of the x-ray systems. AI-enabled x-ray systems allow users to automate and standardize complex diagnostic procedures, improve patient experience outcomes, and reduce costs. The companies are focusing on the development of AI platforms for end-users to manage medical imaging data, which help clinicians in making quick diagnosis decisions.
Additionally, 5D ultrasounds and digital x-rays with wireless DR detectors are the advancements which facilitate improved image quality and diagnosis. This along with the development of software integrated imaging modalities and other technological advancements in the x-ray technology is supporting new product launches by the key players.
Thus, technological advancements in medical x-ray systems and new product launches by the key players are supporting the adoption of these devices in the market.
Despite various advantages of x-ray diagnostic imaging, x-ray radiations have some harmful risks. The radiation produced by the x-ray may damages the cells of the body. The small-timed exposure to x-rays such as chest x-ray may cause minuscule risks. However, the prolonged period of x-ray exposure may cause the cells to become cancerous.
Dynamic Segment to Grow with Highest CAGR during the Forecast Period Owing to High Demand
Owing to technological advancements in the x-ray system, market players are investing significantly in dynamic or portable medical x-ray systems. One significant benefit of using dynamic systems is their ability to avoid extra movements and transport of patients. Another attractive feature of a dynamic medical x-ray system is its ability to give results in less time as compared to others.
The static segment is expected to grow with a considerable growth rate during the forecast period. Increasing demand for medical x-ray systems by hospitals for imaging and diagnosis procedures along with increased partnerships of the key players is driving the segment growth. Additionally, increasing adoption of static x-rays in busy imaging centers, orthopedic offices, urgent care facilities, and ED workflow due to rising emergency conditions is supporting the growth of this segment.
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Better Image Quality and Lower Radiation Dose by Digital X-ray Systems to Lead to Market Dominance
On the basis of technology type, the market is segmented into digital and CR/analog.
The digital segment dominated the market in 2021 due to the growing awareness about digital x-ray imaging benefits among healthcare professionals, which is the major factor for its rising preference and dominance. Additionally, increasing product launches of digital x-ray systems is supporting the segment dominance during the forecast period. For instance, in June 2020, Siemens Healthcare GmbH launched Ysio X.pree, the first x-ray system integrated AI to acquire an image containing all the necessary information with the lowest possible radiation exposure. In July 2020, Siemens Healthcare GmbH launched a CE-labeled AI-Rad Companion Chest X-ray to detect the abnormalities in the image and deliver right information in short time.
The CR/analog segment’s share is expected to decline throughout the forecast period due to the increasing adoption of digital x-ray systems. Additionally, the adoption of Computed Radiography (CR) due to its benefits over analog x-ray system, such as improved image quality at reduced radiation dose and faster procedure time by 60%, is driving the segment growth.
Growing Prevalence of Dental Disorders to Boost Segmental Growth
On the basis of application, the market is segmented into dental, veterinary, cardiovascular, oncology, and others.
The others segment dominated the market with a significant share owing to the growing prevalence of asthma, spinal, and orthopedic injuries, which is increasing the demand for chest x-rays and orthopedic x-rays. Thus, major companies are launching new products in the market to foster the market growth.
The growth of the dental segment is due to the growing prevalence of dental disorders among the geriatric and adult population, rising awareness regarding these disorders, and increased spending capacity for diagnosis purposes. For instance, according to a research article published in May 2020, the prevalence of periodontal disease was reported to range from 20% to 50% worldwide.
Increasing Adoption of X-ray Equipment in Diagnostic Centers to Support the Market Growth
The diagnostic centers segment held a major market share in 2021. Increasing reliability of these centers for accurate results, wide availability of advanced x-ray equipment, and skilled professionals are the factors primarily responsible for the segment's dominance during the forecast period.
Improving facilities coupled with the presence of technologically advanced and novel X-ray machines in hospitals & clinics contribute to the rapid growth of the segment. Additionally, the increasing demand for the x-ray systems in hospitals and clinics due to its extensive use in diagnostic applications is supporting the market growth.
Asia Pacific Medical X-ray Market Size, 2021 (USD Billion)
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The Asia Pacific market stood at USD 4.68 billion in 2021. The growth is attributed to increasing government initiatives to develop digitally advanced and portable medical x-ray systems. Additionally, there are increased mergers and acquisitions of the leading players to provide AI-powered x-ray systems to cater to the increasing demand for the early diagnosis of diseases.
This combined with rising healthcare expenditure and higher emphasis on development of healthcare and hospital infrastructure in emerging countries, such as China, and India, is projected to lead to Asia Pacific gain a significant medical x-ray market share during the forecast period.
The North America market is projected to grow with a significant CAGR due to the favorable reimbursement environment in the U.S. for digital x-ray systems along with the rising prevalence of age-related disorders. For instance, in November 2016, the Medicare system started reducing payments for the exams performed on analog x-ray systems for the adoption of Digital Radiography (DR) in the U.S. by 2017. Also, the payment reduction was also done for the Computed Radiography (CR) equipment from 2018.
In Europe, the market will be primarily driven by the rising prevalence of chronic diseases such as cancer, cardiovascular diseases, and others. Therefore, the adoption of x-rays is beneficial for the accurate diagnosis and treatment of such disorders. This is anticipated to drive the market growth in the region. For instance, according to WHO statistics, in 2020, the prevalent cases of breast cancer in females of all ages in Germany was 67,546 and in France (53,673), U.K. (51,378), and Italy (50,404), respectively
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The market in Latin America is growing due to increasing awareness regarding the treatment & diagnosis options of various diseases and increasing penetration of digital x-ray systems. The Middle East and Africa market will continue to expand with a considerable market share during the forecast period attributable to the lifestyle changes of the people leading to the increasing prevalence of chronic diseases and developing healthcare infrastructure and new hospital developments as hospitals are expanding their radiology departments to offer better diagnostic services to patients.
The market is consolidated with a few key players holding a major share of the market. Industry leader Siemens Healthcare Private Limited holds a dominating place with a strong portfolio of digital x-ray systems. Additionally, increasing product approvals by the regulatory authorities support the company's growth. In November 2020, Siemens Healthcare GmbH launched ceiling-mounted X-ray device using AI-based user-assisting software myExam Companion to obtain high-quality images.
The other market players such as GE Healthcare, Koninklijke Philips N.V., and CANON MEDICAL SYSTEMS CORPORATION mark a strong global presence. Increasing product approvals for x-ray systems and strategic decisions taken by these players are supporting the growth of these companies. In November 2021, GE Healthcare received a FDA clearance for the first x-ray AI to help clinicians assess Endotracheal Tube (ETT) placements.
An Infographic Representation of Medical X-ray Market
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The global medical X-ray market research report provides a detailed market analysis. It focuses on key aspects such as leading companies, technology type, applications, and distribution channels. Besides this, it offers insights into the market trends, impact of COVID-19, and prevalence of chronic diseases, among other key insights. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market in recent years.
Value (USD billion)
By Product Type, Technology Type, Application, End-user, and Region
By Product Type
By Technology Type
Fortune Business Insights says that the global market stood at USD 12.89 billion in 2021 and is projected to reach USD 20.12 billion by 2029.
In 2021, the market value stood at USD 12.89 billion.
The market will exhibit steady growth at a CAGR of 5.8% during the forecast period (2022-2029).
By technology type, the digital segment will lead the market.
The increasing prevalence of chronic diseases to support the demand for x-ray systems, rapidly developing healthcare infrastructure in developing countries to boost the demand for new systems, and growing adoption of digital x-ray systems owing to increasing reimbursement especially in developed countries are the key drivers of the market.
Siemens Healthcare Private Limited, GE Healthcare, Carestream Health, and Koninklijke Philips N.V. are the major players in the market.
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