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Medical X-ray market to reach CAGR of 6.8 percent by 2024

The global X-ray machine market is expected to increase at a CAGR of 6.8 percent over 2019 to 2024. Advanced digital solutions have revolutionized medical imaging by offering better image quality, faster processing time, and dose-reduction advantages, over the conventional systems. Thus, the increasing patients’ preferences toward X-rays for non-invasive and painless disease diagnosis are expected to favor business growth. Advancements in medical imaging, with respect to CT technology, have increased the rapid growth in X-ray examinations in medical field. Most imaging departments in hospitals are required to computerize information systems wherein reports and images of patients are stored. Well, there is the increase in the age distribution of patients receiving X-ray examinations among the elderly population. The geriatric population, which is more susceptible to chronic diseases, tends to have a greater number of imaging procedures. A fast-aging population will thus foster industry growth over the upcoming years. However, the high risk associated with radiation exposure may challenge medical X-ray business to a certain extent.

The Asia-Pacific X-ray machine market is expected to witness lucrative growth during 2019 to 2024. The presence of a large patient pool in the densely populated nations, such as India and China, is expected to act as the primary driver in the regional business’ growth.

Some of the key players in this market are GE Healthcare, Philips Healthcare, Canon Inc., Hitachi Medical, among others. The market is not only influenced by price, but also by product performance. The leading companies own the advantages on better performance, more abundant product types, better technical and impeccable after-sales service.