X-Ray Systems Industry Growth, Development and Forecast Report 2030

Posted by Aryan on November 3rd, 2023

The X-ray systems industry has garnered ,866.64 million revenue in 2021, and it is projected to capture ,504.33 million revenue in 2030, advancing at a rate of 3.68% from 2021 to 2030. It is led by the rising prevalence of chronic diseases and growing early-stage diagnosis demand. In addition, technological advancements and government investments in countries such as Japan, China, and India drive the industry.

The stationary category holds a substantial share of the industry. These are widely used X-ray systems, due to their cost-effectiveness, and high-quality images. They provide support in generating images of organs and tissues inside the body and thus help in early diagnoses of pneumonia, bone fractures, several tumors, calcifications, foreign objects, several injuries, dental problems, and other abnormal masses.

Usually, the elderly population is at higher risk of developing musculoskeletal disorders, led by a loss of minerals in the bones. It results in the bone becoming fragile and less dense to help stationary systems to detect abnormalities.

The requirement for mobile machines is projected to rise faster in the coming years. The mobile equipment demand has been fuelled during the COVID-19 pandemic, as they provide ease of transportation across the hospital, and patients’ houses, thus reducing the risk of viral transmission.

The advancement in image quality and precise diagnosis is also expected to fuel the demand for mobile machines. It enables faster detection and helps in treating various life-threatening ailments, such as cardiovascular and cancer diseases.

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The companies are focusing on investing in the adoption of new technologies, more specifically mobile scanners. For instance, Dynamic Digital Radiography technology is developed by Konica Minolta Healthcare Americas Inc. which enables real-time visualization of anatomy and supports in improving diagnosis and management of orthopedic and pulmonary conditions.

In addition, the rising incidences of illnesses among youth, are led by increasing consumption of junk food, sedentary lifestyle with the absence of physical activity, excessive drinking, and smoking. Therefore, the major key players are focusing on increasing their expenditure on AI-integrated radiography platforms.

For example, GE Healthcare announced to collaboration with AWS to offer AI and cloud technology-driven imaging solutions. The integration of AI-enabled data with the cloud provides easy access to operational and clinical insights to healthcare providers and hospitals.

The hospital sector captures a significant share of the industry, accounting for 68%. It is ascribed to the growing footfalls of patients in hospitals for the detection and treatment of chronic diseases. Radiography machines are essential machines at hospitals, that result in a large number of the footfall of patients.

Various types of X-ray systems, including portable, stationary, analog, and digital are utilized in various places for diagnosis and treatment purposes.

Digital X-rays enable 70% to 80% less radiation exposure compare to conventional systems. Such radiology advancements in the last two decades have transformed imaging. As it involves no processing time in the digital format, it provides them in real-time for viewing. It thus helps in the early detection and treatment of diseases.

North America captures a significant industry share, accounting for over 30%, led by increasing healthcare costs, a rising elderly population, and growing incidences of chronic diseases. Therefore, the U.S. and Canada are heavily investing to strengthen their healthcare infrastructure.

Therefore, the growing incidences of chronic diseases propel the demand for x-ray systems.