Emphasis on Mobility (Static and Dynamic); Application (Dental, Veterinary, Cardiovascular, Oncology, and Others); End-Use (Hospitals, Diagnostic Centers, and Ambulatory Surgical Centers) Region (North America, Europe, Asia-Pacific, Rest of the World); and Region/Country
The global medical X-ray market is expected to grow at a significant rate of around 4% during the forecast period. X-ray machines pass a form of ionizing radiation through a part of the body to produce images of the tissue, organs, bones, or teeth inside. The demand for x-ray imaging has increased mainly from the orthopedic industry owing to the rising number of bone and muscular deformities. Furthermore, the rising awareness among people about the severity of the diseases coupled with the technological advancements in X-ray techniques are the important factors catalyzing the growth of the medical X-ray market. For instance, in September 2022, Siemens Healthineers launched Mobilett Impact, its newest mobile X-ray system. With Mobilett Impact, not just the imaging itself but the entire imaging workflow can be performed right at the patient’s bedside.
Agfa-Gevaert Group, Allengers Medical Systems Ltd, Canon Medical Systems Corporation, Aro Carestream Health Pvt. Ltd., Dentsply Sirona Inc., Fujifilm Medical Corporation, General Electric Company, Hitachi Medical Corporation, Hologic Inc., and Varian Medical Systems Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Mobility, Dynamic category to witness higher CAGR during the forecast period”
Based on mobility, the market has been categorized into static and dynamic. Among them, the dynamic segment is expected to have significant growth in the market during the forecast period. The rising number of patients along with the increasing demand for mobile equipment in the emergency department is attributed to the segmental growth of the mobile X-rays. Furthermore, technological advancements also attributes to the growth of the dynamic segment. For instance, in September 2022, Hi-tech X-ray manufacturer Micro-X launched its next-generation Rover mobile DR X-ray, incorporating both an in-house designed and manufactured generator and an extended capability X-ray tube.
“Amongst Application, Dental category to witness higher CAGR during the forecast period”
Based on application, the market is categorized into dental, veterinary, cardiovascular, oncology, and others. Among them, the dental segment is expected to have significant growth in the market during the forecast period. The rising number of incidences of dental cavities along with the increasing geriatric population and higher prevalence of dental diseases among them is attributed to the growth of the segment in the medical X-ray market. As per the CDC, in the U.S, among adults aged 20 and older, about 90% have had at least one cavity and 4 adults aged 20 to 64 currently have at least one cavity.
“Amongst End-use, hospital segment to hold a significant share in the market in 2020”
Based on the end-use, the market has been categorized into hospitals, diagnostic centers, and ambulatory surgical centers. Among them, the hospital segment is expected to have significant growth in the market during the forecast period. The rising number of outpatients and increasing number of outpatients is attributed to the significant growth of the hospital segment. Furthermore, the increasing number of orthopedic disorders also attributes to the significant growth of the hospital segment. For instance, approximately 1.71 billion people have musculoskeletal conditions worldwide.
“APAC to hold a significant share in the market”
For a better understanding of the market adoption of the medical X-ray industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. The Asia Pacific witnessed the fastest growth during the forecast period. This is mainly due to the presence of emerging economies along with a continuously increasing geriatric population attributes to the growth of the market in the region. Furthermore, increasing investments in healthcare infrastructure along with rising personal income are the important reason for the growth of the market. For instance, the total disposable income of Indians accounted for USD 2.9 million in 2021 which increased by around 38% from 2017.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Medical X-ray Market
6. Medical X-ray Market Revenue (usd Bn), 2020-2028f
7. Market Insights By Mobility
8. Market Insights By Application
9. Market Insights By End-use
10. Market Insights By Region
11. Medical X-ray Market Dynamics
12. Medical X-ray Market Opportunities
13. Medical X-ray Market Trends
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Competitive Scenario
17. Company Profiled
18. Disclaimer
Research Methodology for the Medical X-ray Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global medical X-ray market were the three major steps undertaken to create and analyze the adoption of medical X-ray in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global medical X-ray market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the medical X-ray market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the medical X-ray market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as mobility, application, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the medical X-ray market. Further, we conducted factor analysis using dependent and independent variables such as the mobility, application, and end-user of medical X-ray. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the medical X-ray market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global medical X-ray market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global medical X-ray market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of mobility, application, and end-users in the global medical X-ray market.
The main objective of the Global Medical X-ray Market Study
The current & future market trends of the global medical X-ray market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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