X-ray Machine Manufacturing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The X-ray Machine Manufacturing Market is segmented by Product Type (Stationary and Portable), Technology (Digital and Analog), End-user (Healthcare, Transportation and Logistics, and Government), and Geography.

Market Snapshot

X-ray Machine Manufacturing Market Overview
Study Period: 2018 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 6.8 %

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Market Overview

The X-ray machine manufacturing market is expected to register a CAGR of 6.8% over the forecast period (2021 - 2026). 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.

  • Further, the increasing incidence of cardiovascular, respiratory, gastrointestinal, genitourinary, and several other disorders, is one of the major driving factors. Additionally, the global aging population and commercialization of new, improved, and technologically-advanced x-ray machines are expected to fuel the demand.
  • For instance, in July 2018, the scientists from New Zealand performed the first 3-D color x-ray on a human to improve the field of medical diagnostics. This color x-ray imaging technique can produce clearer and more accurate pictures and help the doctors to provide their patients more accurate diagnoses. The innovations mentoned above are going to supplement the market growth.
  • In addition to the above factors, the rising security concerns related to consecutive threats and activities, such as illegal arms shipping and drug trafficking, are the other key factors driving the demand for x-ray security screening systems. The aforementioned factor is, thereby, contributing to the higher adoption rate of X-ray machines.
  • However, on the other hand, high equipment cost along with the risk of radiation exposure from the x-ray machines might hinder the medical x-ray segment's growth to some extent in the foreseeable future.

Scope of the Report

X-rays are a form of electromagnetic radiation with higher energy that can pass through most of the objects.  As x-ray is the most effective and conventional diagnostic tool, digitization in the x-ray has observed a strong position in the diagnostic laboratories worldwide. The demand for x-ray machines is increasing in various verticals, like healthcare, security, etc. Compliance with security measures and the increasing government regulations to develop better security infrastructure are the factors expected to have a positive impact on the industry. The awareness of early disease detection and treatment is expected to augment the medical x-ray industry's growth.

By Product Type
By Technology
By End-user
Transportation and Logistics
Other End-users
North America
United States
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Rest of the World

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Key Market Trends

Healthcare Sector to Witness a Significant Growth

  • The healthcare industry is expected to witness growth in future, owing to the advancements in technology (x-ray detection has evolved to become more safe, effective, and easy to use). In the recent times, the world is moving toward automation. With the developments in Artificial Intelligence in the scenario, the future of x-ray machines is expected to be promising.
  • Further, in the developing countries like India, increasing incomes, easier access to high-quality healthcare facilities, and greater awareness of personal health and hygiene are the factors supporting the growth of the healthcare industry.
  • Along with that, the greater penetration of health insurance aided the rise in healthcare expenditure. Along with that, with the increasing demand for affordable and quality healthcare, the penetration of health insurance is poised to grow exponentially in the future. The increasing healthcare costs and the burden of new diseases, coupled with low government funding, are helping in increasing the demand for health insurance coverage.
  • In addition, the Government of India is planning to increase the public healthcare expenditure by 2.5% of the country's GDP by 2025. This move would also encourage the other emerging economies to increase their expenditures.    
  • Hence, all the above mentioned factors are expected to help in the growth of the healthcare sector. This factor, in turn, is expected to create an opportunity for the x-ray machine manufacturing market.
X-ray Machine Manufacturing Market Trends

Asia-Pacific to Execute the Fastest Growth Rate

  • The Asia-Pacific x-ray machine market is expected to witness lucrative growth during the forecast period. 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.
  • According to the India Brand Equity Foundation, the hospital industry in India is forecasted to increase to INR 8.6 trillion (USD 132.84 billion) by FY 2022, from INR 4 trillion (USD 61.79 billion) in FY 2017, recording a CAGR of 16-17 %.
  • It is also observed that the cost of surgery in India is about one-tenth of that in the United States or Western Europe. The country has also become one of the leading destinations for high-end diagnostic services. With huge capital investments for advanced diagnostic facilities, it is possible to cater to a greater proportion of the population.
  • In September 2018, the world’s largest government-funded healthcare scheme ("Ayushman Bharat") was launched by the Prime Minister of India. Ayushman Bharat is funded partially by the central government (60%). The remaining (40%) is funded by the state governments.         
  • All the above factors are expected to help in increasing the healthcare sector in India. This factor is expected to supplement the growth of x-ray machines in the health industry, which in turn, is expected to boost the market for the manufacturers in these regions.
X-ray Machine Manufacturing Market Growth

Competitive Landscape

The x-ray machine manufacturing market is fragmented because of the presence of some major global players dominating the major market. 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 the 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.

  • March 2019 - Philips bought Carestream Health's healthcare information systems. This Philips' acquisition of Carestream Health's HCIS business will provide the company more imaging technologies, while boosting its position in the health IT market.
  • February 2019 - Philips launched Zenition mobile C-arm platform for enhanced operating room performance and workflow efficiency. Zenition mobile C-arms are easy to move between operating rooms, simple to position around the patient, and intuitive to operate. These arms are able to treat more patients at a lower cost, and can easily adapt to the needs of different types of surgeries and different operators.


Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Rise in Adoption of Digital X-ray Systems

      2. 4.3.2 Government Regulations and Investments to Improve Infrastructure

    4. 4.4 Market Restraints

      1. 4.4.1 High Equipment Cost

    5. 4.5 Value Chain / Supply Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry



    1. 6.1 By Product Type

      1. 6.1.1 Stationary

      2. 6.1.2 Portable

    2. 6.2 By Technology

      1. 6.2.1 Analog

      2. 6.2.2 Digital

    3. 6.3 By End-user

      1. 6.3.1 Healthcare

      2. 6.3.2 Transportation and Logistics

      3. 6.3.3 Government

      4. 6.3.4 Other End-users

    4. 6.4 Geography

      1. 6.4.1 North America

        1. United States

        2. Canada

      2. 6.4.2 Europe

        1. United Kingdom

        2. Germany

        3. France

        4. Rest of Europe

      3. 6.4.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. South Korea

        5. Rest of Asia-Pacific

      4. 6.4.4 Rest of the World


    1. 7.1 Company Profiles

      1. 7.1.1 Canon Inc.

      2. 7.1.2 Fujifilm Holdings Corporation

      3. 7.1.3 GE Healthcare

      4. 7.1.4 Hitachi Medical Corporation

      5. 7.1.5 Hologic Inc.

      6. 7.1.6 Philips Healthcare

      7. 7.1.7 Shimadzu Corporation

      8. 7.1.8 Siemens AG

    2. *List Not Exhaustive


**Subject to Availability

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Frequently Asked Questions

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

The X-ray Machine Manufacturing Market is growing at a CAGR of 6.8% over the next 5 years.

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

North America holds highest share in 2021.

Canon Inc, GE Healthcare, Hitachi Medical Corporation, Philips Healthcare, Siemens AG are the major companies operating in X-ray Machine Manufacturing Market.

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