X-ray Machine Manufacturing Market Size

X Ray Machine Manufacturing Market Analysis

The X-ray Machine Manufacturing Market size is estimated at USD 17.70 billion in 2024, and is expected to reach USD 23.35 billion by 2029, growing at a CAGR of 5.69% during the forecast period (2024-2029).

• The global aging population and commercialization of new, improved, and technologically advanced x-ray machines are expected to fuel the demand.
• The x-ray machine manufacturing market is analyzed to witness substantial growth in the coming years owing to the increasing investments in R&D of advanced diagnostic machines coupled with growing demand from various healthcare organizations across the world. Moreover, the rising incidence of cardiovascular, respiratory, gastrointestinal, genitourinary, and several other disorders is one of the major driving factors.
• 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 factor above is, thereby, contributing to the higher adoption rate of X-ray machines.
• The healthcare industry is gradually shifting from analog x-ray equipment to digital x-ray systems. The change from analog to digital x-ray equipment is attributed to digital systems' reduced radiation dosage, increased picture quality, and better outcomes with less downtime. Due to the advantages of digital x-ray systems over analog or CR systems, hospitals and other healthcare institutions are emphasizing their installation. Because government payment reforms have aided the transition of analog x-ray systems to digital x-ray systems, healthcare facilities prioritize installing digital x-ray systems, among others.
• However, on the other hand, high equipment costs and 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.
• COVID-19 significantly increased market activity. This was due to the pandemic's large and unprecedented surge in global health issues. The pandemic raised the demand for medical imaging services from all around the globe. Home care organizations and manufacturers worldwide shifted their attention to the availability of emergency and non-medical support services. On the other hand, manufacturers experienced minimal sales due to supply chain constraints.