X-rays are a form of electromagnetic radiation, similar to visible light. Unlike light, however, x-rays have higher energy and can pass through most objects, including the body. Medical x-rays are used to generate images of tissues and structures inside the body. If x-rays travelling through the body also pass through an x-ray detector on the other side of the patient, an image will be formed that represents the “shadows” formed by the objects inside the body.
One type of x-ray detector is photographic film, but there are many other types of detectors that are used to produce digital images. The x-ray images that result from this process are called radiographs. The medical uses of X-rays are that it detects bone fractures, certain tumors and other abnormal masses, pneumonia, some types of injuries, calcifications, foreign objects, dental problems, etc.
Covid-19 Scenario analysis:
At the early phase of COVID-19 pandemic, there was no availability of specific diagnostic tests to detect the disease in patients. Alternative diagnostic tests were used initially but were not much effective. This unavailability of specific COVID-19 diagnostic tests presented lucrative opportunities for diagnostic manufacturers to introduce their COVID-19 diagnostic kits. Many leading players as well as some start-ups from various countries utilized this opportunity and introduced COVID-19 diagnostics kits into local as well as global market. These players achieved edge over other diagnostics players capitalizing the opportunity from demand for COVID-19 diagnostic tests, which, in turn, helps them in maintaining their revenues in such a crisis.
Owing to such factors, COVID 19 is expected to have a significant impact on the medical X-ray market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact analysis:
Increased medical complication:
Medical diagnostic X-ray devices can be used for various applications, including cardiovascular, respiratory, dental, and mammography. Rise in prevalence of chronic diseases across the world and rapidly aging global population with augmented healthcare needs boost market growth. Growing burden of chronic disease such as cancer, cardiac diseases, neurological diseases, dental problems and musculoskeletal disorders should drive the medical x-ray market growth during the forecast period. Medical x-ray has led to advances in diagnosis and treatment of several medical conditions. Increasing patient preference towards x-rays for non-invasive and painless disease diagnosis will favour business growth. Moreover, favourable reimbursement scenario for x-ray diagnosis leading to surge in the number of people opting for x-ray will spur industry revenue over the analysis timeframe.
Growth in the geriatric population:
There has been an increase in the geriatric population it has also been estimated that around 82% of the people who succumb to a coronary artery disease are aged 65 years and above. According to WHO estimates, the geriatric population would increase at a rapid pace in developed countries such as the U.S., the U.K., and Japan. Access to various diagnostic and treatment services has improved due to favourable health care policies and advancements in healthcare facilities in countries such as the U.S., Japan, the U.K. and other countries in Western Europe. This in turn has increased life expectancy of the population. Brazil, China, Thailand, and South Korea are expected to have a large geriatric population in the shortest span of time. Aged individuals are more prone to diseases and disorders; hence, have high healthcare requirements. Aged individuals would increase the patient pool in these countries, which in turn is likely to boost the growth of the X-ray market in Asia Pacific in the next few years.
Technological advancements have a more positive connotation of the radiographic systems. The advances in radiographic systems in routine examinations (chest, neck/spine, and limbs), specialty services (dental and mammography), and emergency services (ICU, neonatal ICU, and hospital wards) have resulted in the development of new radiation sources and technologies by using neutrons and X-rays. Such advancements in the diagnostic imaging, particularly in computed tomography (CT), have resulted in the rapid growth in performance of X-ray examinations.
A special substance is given in addition to throwing radiation waves, as the combination helps in viewing structures which a normal scan may not be able to reveal. At the same time, it is important to note, X-ray test is not recommended to pregnant women. This is because the rays of the radiation process are harmful for the developing baby. He/she, in the event of strong radiation may develop lifetime abnormalities. Also, high installation costs along with risk of radiation exposure may hinder medical X-ray business growth to certain extent in the foreseeable future.
North America held a major revenue share of the global medical x-ray market and the region is anticipated to continue with its regional supremacy over the forecast period. The growth of this regional market is attributed due to the high adoption rate of novel technology and presence of well-established healthcare infrastructure. Asia-Pacific is projected to grow at a significant rate, due to rising geriatric population, the high prevalence of chronic diseases that require diagnosis and treatment and increasing unmet medical needs.
Key benefits of the report:
- This study presents the analytical depiction of the global Medical X-ray industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global medical x-ray market share.
- The current market is quantitatively analyzed to highlight the global medical x-ray market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the medical x-ray market.
- The report provides a detailed global medical x-ray market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Medical X-Ray Market Research Report:
- What are the leading market players active in the medical x-ray market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the medical x-ray market?
- What are the projections for the future that would help in taking further strategic steps?
Medical X-Ray Market Report Highlights
By End Users
Key Market Players
Siemens Healthcare,, Philips Healthcare,, Shimadzu Corporation,, Agfa Healthcare,, Varian Medical Systems,, Toshiba Medical Systems,, Fujifilm Holdings,, GE Healthcare,, Planmed,, Hitachi,