X-ray Systems Market Size, Share & Trends Analysis Report By Modality (Radiography, Fluoroscopy, Computed Radiography), By Mobility, By End Use, By Type (Digital, Analog), And Segment Forecasts, 2018 - 2025

Industry Insights

The global x-ray systems market size was valued at USD 8.27 billion in 2017 and is anticipated to register a CAGR of 2.9 % over the forecast period. Increase in R&D activities in the healthcare sector, along with a rise in the number of product approvals, are anticipated to boost the market growth. In addition, growing demand for effective diagnostic imaging techniques due to a surge in the incidence of chronic diseases such as arthritis, cancer, and appendicitis is one of the high impact rendering factors driving the market.

Major end users are adopting digital imaging technologies and market players are moving toward integrating various digital platforms with their radiography equipment. This integration is expected to introduce high-resolution x-ray devices that can replace conventional ones and boost the market over the forecast period. In January 2018, Hitachi expanded its clinical reporting and analytical services for diagnostic imaging with the acquisition of VidiStar LLC, a digital solution provider. In November 2017, Philips acquired Analytical Informatics Inc., an advanced workflow tools and applications providing company.

Improving the quality of image output is expected to enhance diagnostic accuracy in the early stages of various diseases. This can aid in speedier diagnosis and treatment of a number of life-threatening diseases such as cancer and many cardiovascular conditions. This major advantage has had a significant impact on the market.

Governments in developing economies such as India and China are increasing their focus on providing cost-effective medical imaging solutions by adapting various new imaging technologies such as teleradiology.

Modality Insights

Based on modality, the market is segmented into radiography, fluoroscopy, and computed radiography. Computed radiography systems are the most preferred ones, as they provide sharp images in a shorter time and the imaging plates are reusable. Fluoroscopy is also gaining prominence in developed countries in North America and Europe and this segment is poised to register the highest growth over the coming years.

Radiography captured the largest market share of just under 45.0% in 2017. The adoption of computed radiography is growing in developing countries as it helps cut down the costs of medical imaging.

Mobility Insights

Based on mobility, the market is bifurcated into stationary and portable systems. Stationary systems dominated the market in 2017, with the segment accounting for a share of close to 56.0%. Stationary radiography solutions have shown significant demand in developing countries where the adaption of new technologies is comparatively slower.

Portable systems are advanced and preferred over stationary due to their mobility, which renders them more convenient and flexible for use. This segment is expected to exhibit the fastest CAGR of 4.15% during the forecast period.

Type Insights

Based on type, the x-ray systems market is divided into digital and analog. The digital segment is not just the larger of the two types of systems, it is also anticipated to witness fastest the growth rate over the forecast period. Digital radiology devices are preferred over their traditional counterparts owing to advantages such as better image quality and clarity, cost-effectiveness, and low maintenance.

Analog systems are expected to be phased out by digital ones as the latter presents several challenges such as high radiation exposure, image noise, and inaccurate results. However, demand for such x-ray units is high in countries with weak economies, where hospitals have limited funds.

End-use Insights

Based on end use, the market can be segmented into hospitals, diagnostic centers, and mobile imaging centers. Hospitals held the largest market share in 2017. The mid-to-large sized hospitals install medical imaging equipment within the premises as medical imaging can be a major source of outpatient profits.

Majority of large hospitals have their own medical imaging facilities. However, these facilities require large investments, space, skilled professionals, and can result in high maintenance charges. This increases the financial burden on hospitals. Hence, hospitals prefer partnering with diagnostic centers for medical imaging services. This helps in cost saving in small and mid-sized hospitals.

Regional Insights

On the basis of geography, the market has been segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. North America dominated the market in 2017 in terms of revenue owing to the high adoption of advanced technologies and improved infrastructure in healthcare facilities. Asia Pacific is expected to exhibit the fastest growth rate over the forecast period mainly due to the rise in supportive government incentives and the increasing prevalence of chronic diseases.

X-ray Systems Market Share Insights

Some of the leading industry participants are Koninklijke Philips N.V.; GE Healthcare; Hitachi, Ltd.; Shimadzu Corporation, Fujifilm Medical Systems; Siemens Healthineers; Canon Medical Systems Corporation; Carestream Health; Hologic, Inc.; and Biosign.

Some of the go-to strategies undertaken by these players are the expansion of regional and service portfolios as well as mergers and acquisitions. For instance, Hitachi acquired medical diagnostic system provider Kurt & Kurt in December 2016 to expand its business operations in Turkey.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global x-ray systems market report on the basis of modality, mobility, end use, type, and region:

• Modality Outlook (Revenue, USD Million, 2014 - 2025)

  • Radiography

  • Fluoroscopy

  • Computed Radiography

• Mobility Outlook (Revenue, USD Million, 2014 - 2025)

  • Stationary

  • Mobile

• End-Use Outlook (Revenue, USD Million, 2014 - 2025)

  • Hospital

  • Diagnostic Centers

  • Mobile Imaging Centers

• Type Outlook (Revenue, USD Million, 2014 - 2025)

  • Digital

  • Analog

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

    • Greece

    • Spain

    • Austria

    • Denmark

    • Belgium

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Sri Lanka

    • Bangladesh

    • Singapore

    • South Korea

    • Thailand

    • Malaysia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • The Middle East and Africa (MEA)

    • South Africa

    • Kuwait

    • Qatar

    • UAE

    • Saudi Arabia