Global X-ray market is anticipated to observe an exponential growth in the forecast period majorly owing to the increase in geriatric population and across the globe. By technology, the digital segment is estimated to grow at the highest rate in the global industry by the end of 2027. The Asia Pacific region is anticipated to dominate the global market in terms of share and offer lucrative growth opportunities for market vendors in the projected timeframe.
as per a research dive published report, the global x-ray market is expected to increase at a cagr of 9.3% and is predicted to generate a revenue of $18,238.3 million over the forecast period from 2020 to 2027.
The global market is segmented based on technology, applications, end-users, and region. The report offers in-depth insights on drivers, restraints, challenges, opportunities, and major players of the market. According to our analysts, the growing aging population across the globe couples with the rising cases of various diseases such as tuberculosis, lung diseases, cardiac failure, and others is the significant factor to boost the growth of the global x-ray market during the forecast period. Besides, the increasing number of R&D activities by x-ray firms to enhance the production of reliable & sustainable CT scanners is likely to create enormous growth opportunities in the global market in the upcoming years. However, high installation costs associated with X-rays coupled with the risk of radiation exposure are expected to major threats for the market growth in the near future.
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• Digital Segment to be Most Lucrative by 2027
On the basis of technology, the global X-ray market is bifurcated into digital and analog. The digital X-ray technology segment is expected to grow at the highest rate during the forecast period owing to the additional benefits offered, such as digital image transfer, time efficiency, and enhanced pictures.
• Orthopedic Segment to Lead the Market in the Forecast Period
On the basis of applications, the global market is classified into radiography, cardiovascular, orthopedic, chest, and fluoroscopy. The orthopedic segment is estimated to subjugate the global market by the end of 2027 majorly due to the growing prevalence of osteoporosis in women.
• Diagnostic Segment to Grow at Significant Rate by 2027
On the basis of end-users, the global X-ray market is categorized into research centers, ambulatory surgical centers (ASCs), diagnostic centers, and hospitals & clinics. The diagnostic segment is projected to witness the fastest growth during the forecast period mainly because X-ray is the most efficient & conventional diagnostic instrument.
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• Asia Pacific Region to Hold the Largest Market Share
Based on region, the global x-ray industry is divided into North America, LAMEA, Europe, and Asia Pacific. The Asia Pacific x-ray market is anticipated to dominate the industry in terms of revenue share throughout the forecast period due to the growing aging population and increasing disposable income in the region. On the other hand, the North America x-ray market is estimated to witness the fastest growth by 2027 owing to the rising need for early detection and preventive treatment of the disorder.
• Prominent Players of the Industry
The key players operating in the global x-ray market are Varian Medical Systems, Koninklijke Philips N.V., Fujifilm Holdings, Agfa-Gevaert N.V., Toshiba Corp., Carestream Health, Konica Minolta Medical Imaging, GE Healthcare, Shimadzu Corp., and PerkinElmer Inc. The report summarizes numerous aspects of all the prominent players operating in the industry such as financial performance, product portfolio, recent strategic moves & developments, and SWOT analysis.
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