X-ray Generator Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The X-ray Generator Market is segmented by Type (Stationary Generators, Portable Generators), by End User (Medical and Industrial), and by Geography.

Market Snapshot

CAGR
Study Period:

2018 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

4.06 %

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Market Overview

The X-Ray generators market was valued at USD 450.99 million in 2020, and it is expected to reach USD 570.28 million by 2026, registering a CAGR of 4.06%, during the forecast period (2021 - 2026).

  • X-Ray technology has been commonly associated with the healthcare and research and development sector for several years. However, in recent times, the technology has expanded into the manufacturing environments, which is helping several end-user industries improve the quality of production. Technological advancement is one of the primary factors driving the growth of the market.
  • Aerospace and Defense are some of the primary industries that pioneered the use of X-ray inspection for quality control. Radiographic testing has been used successfully at Marshall Space Flight Center (MSFC) research center of the US government's civilian rocketry and spacecraft propulsion, for years to identify and characterize cracks, voids, inclusions, porosity, lack of weld penetration, lack of fusion in welds, and many other types of defects.
  • Advances in medical imaging, primarily in computed tomography (CT) technology, have resulted in the rapid growth of X-ray examinations. Besides, the global geriatric population base at high risk of developing these chronic diseases is expected to stimulate the demand for high-resolution imaging systems.
  • A pandemic like Covid-19 will only fuel the manufacturing of advanced medical devices and equipments to tackle such crisis in future. The increased production of healthcare devices will drive the X-Ray Generator market. For instance, GE Healthcare has recently announced to increase its manufacturing capacity for medical equipment including, CTs, ultrasound devices, mobile X-ray systems, patient monitors, and ventilators, to cater to the ongoing global challenge of treatments of COVID-19 patients.

Scope of the Report

An X-ray generator is a device used to produce a high voltage to be applied between the anode and cathode. High voltage can be produced from a low-voltage, alternating current (AC) supply (the mains) using a transformer to give the waveform. The study analyses the penetration of x-ray generators across medical and industrial are considered under the scope of the market. Other types of end users such as law enforcement etc., are considered jointly analyzed under the industrial type of end user.

Type
Stationary Generators
Portable Generators
End User
Medical
Indusrtial
Geography
North America
United States
Canada
Europe
United Kingdom​
Germany
France
Rest of Europe
Asia Pacific
China
India
Japan
Rest of Asia-Pacific
Rest of the World

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Key Market Trends

Medical X-ray Generator to hold Highest Share

  • Advances in medical imaging, primarily in computed tomography (CT) technology, have resulted in the rapid growth of X-ray examinations. Besides, the global geriatric population base at high risk of developing these chronic diseases is expected to stimulate the demand for high-resolution imaging systems.
  • The use of X-ray generators for medical purposes is an effective response to this high demand, providing the industry with high growth potential throughout the forecast period. In terms of types, the global industry is classified as stationary and portable.
  • Advances in technology, such as changing the design of the computer-controlled X-ray generator interface with the imaging system, allow for better synchronization of the imaging system, usually with X-ray generators.
  • The increasing number of road accidents has increased the need for X-ray equipment, thereby offering growth to the market studied. According to the Indian Government, a total of 4,64,910 road accidents were reported in 2017, which caused injuries to 4,70,975 persons. The diagnosing of these persons demands the need for medical imaging equipment, which in turn reflects the demand for X-ray generators.
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North America to Hold Significant Share

  • The United States houses different stakeholders in the x-ray technology space, including x-ray component providers, x-ray system providers, etc. Prominent X-ray Generator companies in the region include, GE, Siemens Healthineers, Spellman High Voltage Electronics Corporation, Comet group, among others.
  • According to the National Cancer Institute in 2018, an estimated 1,735,350 new cases of cancer have been diagnosed in the United States. Further, the institute predicts that the number of new cases of cancer is 439.2 per 100,000 men and women per year. Also, it predicts that the number of new cancer cases per year is expected to rise to 23.6 million by 2030 in the United States.
  • The multinational companies in the region are integrating X-ray devices with artificial intelligence technology to reduce the detection time. For instance, GE has developed AI-powered X-ray systems for patients suffering from a collapsed lung.
  • The major driver for x-ray generators for the industrial applications in the country is regulations and standards mandated by the concerned associations. For instance, rules set by agencies, like American Society for Testing and Materials (ASTM), American Society of Mechanical Engineers (ASME), National Aerospace and Defense Contractors Accreditation Program (NADCAP), CGSB, etc., mandate the testing as an integral part of manufacturing and construction projects.
X-ray geo.png

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Competitive Landscape

The X-ray generator market is highly competitive and in terms of market share, few of the major players currently dominate the market. These major players with prominent shares in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and profitability.

  • March 2020 - Philips Medical Systems has introduced its dual-purpose digital radiography-fluoroscopy (DRF) system - ProxiDiagnost N90 for routine X-ray and nearby fluoroscopy examinations of patients. The X-Ray generator in the system is configured within the radiography device, which contains X-Ray tubes and high-resolution displays. Hence, this can be used as a digital X-Ray system.
  • March 2020 - Siemens introduced its latest biplane angiography system - ARTIS icono for biplane diagnostic imaging and interventional treatment of patients including obese and paediatric patients. The display attaches on a movable display suspension system at the ceiling, revealing the X-ray images, while the X-ray generator is at a separate location. In September 2019, the company received a clearance on the system from US Food and Drug Administration (FDA) and it has installed its first system in UW Health’s University Hospital in Madison, Wisconsin, in February 2020.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Value Chain

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitutes

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Increasing Demand for Healthcare Diagnostics

      2. 5.1.2 Technological Advancements (such as enhanced power etc.)

    2. 5.2 Market Challenges

      1. 5.2.1 Stringent Regulations and Validatory Guidelines

    3. 5.3 Assessment of Impact of Covid-19 on the Industry

  6. 6. MARKET SEGMENTATION

    1. 6.1 Type

      1. 6.1.1 Stationary Generators

      2. 6.1.2 Portable Generators

    2. 6.2 End User

      1. 6.2.1 Medical

      2. 6.2.2 Indusrtial

    3. 6.3 Geography

      1. 6.3.1 North America

        1. 6.3.1.1 United States

        2. 6.3.1.2 Canada

      2. 6.3.2 Europe

        1. 6.3.2.1 United Kingdom​

        2. 6.3.2.2 Germany

        3. 6.3.2.3 France

        4. 6.3.2.4 Rest of Europe

      3. 6.3.3 Asia Pacific

        1. 6.3.3.1 China

        2. 6.3.3.2 India

        3. 6.3.3.3 Japan

        4. 6.3.3.4 Rest of Asia-Pacific

      4. 6.3.4 Rest of the World

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 Spellman High Voltage Electronics Corporation

      2. 7.1.2 Siemens Healthcare Private Limited

      3. 7.1.3 GE Healthcare Inc.

      4. 7.1.4 Teledyne ICM

      5. 7.1.5 Philips Healthcare Informatics Inc.

      6. 7.1.6 Communications & Power Industries LLC

      7. 7.1.7 COMET Group

      8. 7.1.8 Proximus Medical Equipment and Service

      9. 7.1.9 Medical Econet GmbH

      10. 7.1.10 Gulmay Ltd.

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OF THE MARKET

**Subject to Availability

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Frequently Asked Questions

The X-ray Generator Market market is studied from 2018 - 2026.

The X-ray Generator Market is growing at a CAGR of 4.06% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

  • Spellman High Voltage Electronics Corporation
  • Siemens Healthcare Private Limited
  • GE Healthcare Inc.
  • Teledyne ICM
  • Philips Healthcare Informatics Inc.

Are the major companies operating in X-ray Generator Market.

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