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X-ray Market Research Report: Strategies Challenges and Forecast 2022

Press Release   •   Feb 23, 2017 02:38 EST

Presently, the global market for X-ray systems and technologies is witnessing steady growth due to high prevalence and increasing incidence of cardiovascular, respiratory, gastrointestinal, and genitourinary, and several other disorders. Additionally, the global aging population and commercialization of new, improved and technologically advanced X-ray systems would boost demand, which would in turn fuel the growth of the X-ray market. New and advanced X-ray systems increasingly find applications in breast cancer imaging, detection of tumor outgrowths, and several other chronic disorders and diseases. Demand for advanced systems is rapidly rising due to the need for early diagnosis to ensure effective treatment and/or management of the disease. Recent technological advancements in the diagnostics industry has led to the introduction of several advanced X-ray systems such as mobile and handheld digital systems, direct digital radiography systems, direct & indirect flat panel detection based systems, and CMOS and CCD based digital systems.

Get PDF containing the Forthcoming Market Trends of X-ray at: http://bit.ly/2mnE9SK

Stationary or fixed X-ray systems held the largest share of 60.1% of the global X-ray market in 2013. Stationary or fixed X-ray systems have been in use for a long time — since the discovery of first X-ray based imaging and diagnostic systems — in developed as well as less developed nations in the world. This is due to portable systems, especially handheld X-ray systems, were launched recently in the global market. However, portable systems are expected to witness high growth rate during the forecast period, and would outperform the stationary X-ray systems segment by 2022. Hospitals, diagnostic laboratories and health care professionals have started installing and using several portable especially mobile systems globally as these systems offer portability and ease of use over stationary systems particularly for bedside imaging or home health care. Based on X-ray technologies, the digital X-ray systems segment held the largest share of 69.1%, followed by the analog systems segment in the global X-ray market in 2013. The computed radiography systems sub-segment held the largest share of the digital X-ray systems segment in 2013. However, the direct digital radiography systems segment is expected to register fastest growth during the forecast period and outperform the CR systems segment by 2022. This is majorly due to introduction and increased acceptance of advanced direct digital X-ray systems that offer several advantages over traditional systems such as low exposure to harmful X-rays, better image quality, and less time consumption.

According to World Health Organization (WHO) estimates, cardiovascular diseases accounted for around 17.3 million deaths in 2008, and the number is likely to increase to 23.3 million deaths each year by 2030. The low to middle income countries are the largest affected regions, accounting for 80% of all the deaths due to cardiovascular diseases across the world. According to WHO estimates, over 9 million people were suffering from tuberculosis globally in 2013. The number of TB cases increased by 4.7% from 8.6 million in 2012 to 9 million in 2013. The total number of deaths due to TB also increased by 15% from 1.3 million in 2012 to 1.5 million in 2013. According to WHO estimates, around 60% to 90% school children and 80% to 90% adults (age group: 19 – 34) suffer from dental cavities. Moreover, the global incidence rate of oral cancer ranges between one to ten cases per 100,000 individuals. At present, several X-ray technologies are increasingly being used for early detection of several chronic diseases and disorders to ensure effective diagnosis and treatment. However, high cost of advanced digital systems and implementation of legal provisions (e.g. affordable care act) that promote cost containment/cost cutting strategies could have a negative impact on the growth of the market in the near future. Moreover, presence of large underserved population in most of the emerging economies of the world would continue to provide future opportunities for the growth of the market during the forecast period.

North America held the largest share of 34.6% of the global X-ray market in 2013, followed by Asia Pacific and Europe. North America comprises the developed economies of the U.S. and Canada that have a large number of elderly individuals suffering from various cardiovascular, orthopedic, genitourinary, and abdominal diseases and disorders. Hence, rising occurrence of various disorders along with high awareness and affordability among people and well established health care infrastructure in the region increases demand for advanced X-ray systems. However, Asia Pacific is expected to register the fastest growth during the forecast period from 2014 to 2022 due to rapid growth expectation of this market in countries such as China and India. The key factor attributed to the high growth of the market in the region is the presence of high geriatric population suffering from a range of respiratory, cardiovascular, gastrointestinal, and genitourinary disorders requiring urgent diagnosis and effective treatment. Other factors include rising government support, increasing awareness and affordability, and corresponding demand for advanced X-ray systems across major economies in the region.

Read the Current Market Status of X-Ray at: http://www.transparencymarketresearch.com/x-ray-market.html

Agfa-Gevaert N.V., Canon, Inc., Carestream Health, Inc., Fujifilm Holdings Corporation, GE Healthcare, Hologic, Inc., Hitachi Medical Corporation, Konica Minolta, Inc., Shimadzu Corporation, PerkinElmer, Inc., Philips Healthcare, Siemens Healthcare, Toshiba Corporation, and Varian Medical Systems, Inc. are the major players operating in the global X-ray market. Most of these players constantly innovate and develop technologically advanced and/or improved X-ray systems/technologies to maintain their position in the global market.

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