The global X-ray system market has been forecast to increase at a compound annual growth rate (CAGR) of 5.1% over the next five years.
Driven in large part by procedure growth from an aging and increasingly unhealthy population along with the ongoing shift toward digitisation and newer technologies, the global X-ray system market continues to evolve and be very competitive, offering many opportunities for company growth and success. However, intense competition among vendors could pose a challenge to the growth of this market.
X-ray is a type of electromagnetic ionizing radiation with applications in a diversified range of industries. In the medical industry, X-ray devices constitute the largest share of the diagnostic imaging market. The demand for portable and mobile X-ray equipment, like other diagnostic imaging devices, has increased tremendously in the last few years and will continue to show an upper trend due to its convenience in use.
Advanced imaging techniques continue to evolve with improvements in image quality, dose reduction techniques, and efficiencies in workflow. X-ray devices technology has moved from analog imaging to digital.
Since the medical devices market in Europe presents several growth opportunities, different vendors in the market are increasingly forming strategic alliances and engaging in mergers and acquisitions to increase their market share. For instance, Philips Healthcare acquired the digital mammography business of Sectra AB in 2011. This is likely to strengthen the company's women's health portfolio.
Key players currently dominating the global X-ray system market include Philips Healthcare, GE Healthcare Ltd., Siemens Healthcare, Shimadzu Corp., and Carestream Health Inc.
For more information on the global X-ray system market, see the latest research: Global X-Ray System Market
Follow us on Twitter @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.