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 rise in number of product approvals, are anticipated to boost market growth. In addition, growing demand for effective diagnostic imaging techniques due to surge in 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 quality of image output is expected to enhance diagnostic accuracy in 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.
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 largest market share of just under 45.0% in 2017. Adoption of computed radiography is growing in developing countries as it helps cut down costs of medical imaging.
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 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.
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 present 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.
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. 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.
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 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 rise in supportive government incentives and increasing prevalence of chronic diseases.
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 expansion of regional and service portfolio as well as merger and acquisitions. For instance, Hitachi acquired medical diagnostic system provider Kurt & Kurt in December 2016 to expand its business operations in Turkey.
Base year for estimation
Actual estimates/Historical data
2014 - 2016
2018 - 2025
Revenue in USD Million & CAGR from 2018 to 2025
North America, Europe, Asia Pacific, Middle East and Africa, Latin America
Revenue forecast, company share, competitive landscape, growth factors and trends
U.S., Canada, Germany, U.K., Greece, Spain, Austria, Denmark, Belgium, Norway, India, China, Japan, Australia, Sri Lanka, Bangladesh, Singapore, South Korea, Thailand, Malaysia, Brazil, Argentina, Mexico, South Africa, Kuwait, UAE, Qatar, Saudi Arabia
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of 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)
Mobility Outlook (Revenue, USD Million, 2014 - 2025)
End Use Outlook (Revenue, USD Million, 2014 - 2025)
Mobile Imaging Centers
Type Outlook (Revenue, USD Million, 2014 - 2025)
Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East and Africa (MEA)
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