X-RAY MACHINE MANUFACTURING MARKET ANALYSIS

The global X-ray machine manufacturing market was valued at US$ 15.23 Bn in 2022 and is forecast to reach a value of US$ 23.82 Bn by 2030 at a CAGR of 5.8% between 2023 and 2030. The global X-ray machine manufacturing market is experiencing strong growth due to the increasing prevalence of chronic and orthopedic diseases and increasing adoption of digital X-ray systems around the globe. Moreover, rise in deployment of highly efficient security solutions and increasing demand for portable X-ray devices is expected to propel the market growth. However, factors such as high cost of equipment and installation and rise in use of refurbished X-ray devices are expected to hamper the growth of the market.

Global X-ray Machine Manufacturing Market: Regional Insights

Based on geography, the global X-ray machine manufacturing market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Among regions, North America is expected to gain highest share in the market during the forecast period owing to the increasing prevalence of chronic diseases, rise in focus on early diagnosis, rise in adoption of digital X-ray devices, and well-established healthcare infrastructure in this region. For instance, a chest X-ray can diagnose various health conditions, and thus, there is an increasing demand for X-ray devices in the United States. According to the U.S. Centers for Disease Control and Prevention (CDC), chronic diseases such as heart disease, cancer, and diabetes are the leading causes of death and disability in the United States.  

Asia Pacific is also expected to witness robust growth in the global X-ray machine manufacturing market due to the rise in burden of chronic diseases, increasing number of diagnostic centres, rise in adoption of digital X-ray systems, and well-established healthcare infrastructure in this region. For instance, X-rays and other radiographic tests help doctors look for cancer in different parts of the body. According to the cancer report by Indian Council of Medical Research (ICMR), India’s cancer cases could increase by 12% in the next five years, with around 1.5 million people expected to suffer from the non-communicable disease by 2025, up from 1.39 million in 2020,

Figure 1. Global X-ray Machine Manufacturing Market Share (%), by Region, 2023

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Global X-ray Machine Manufacturing Market Drivers:

Rise in burden of orthopedic diseases to propel market growth

One of the key factors expected to augment the growth of the global X-ray machine manufacturing market during the forecast period is the increase in prevalence of orthopedic diseases worldwide. Digital radiography is very helpful for examining the musculoskeletal system of trauma victims. For instance, according to the World Health Organization (WHO), musculoskeletal conditions are the leading contributor to disability worldwide, with low back pain being the single leading cause of disability in 160 countries; 1.71 billion people have musculoskeletal conditions worldwide. This in turn is driving the growth of the market.

Growing adoption of digital X-ray devices to drive market growth

Another factor which is driving the growth of the global X-ray machine manufacturing market is the increasing adoption of digital X-ray systems owing to their advantages. For instance, the major advantages of digital x-ray are easy accessibility and cost-effectiveness. Digital X-rays produce 80% less radiation as compared to traditional one, and this is beneficial for the long-term health of patients, especially for those suffering from a disease and pregnant women, thus ensuring safety. Moreover, digital X-ray systems provide better and clearer images with high resolution that can be enlarged or manipulated as needed, minimizing the need for repeating the procedure.

Global X-ray Machine Manufacturing Market Opportunities:

Rise in deployment of highly efficient security solutions owing to increase in number of terrorist attacks and smuggling activities worldwide is expected to provide significant growth opportunities for players in the global X-ray machine manufacturing market. For instance, according to the U.S. Drug Enforcement Administration (DEA), most of fentanyl, heroin, and/or methamphetamine are trafficked into the United States across the Southwest border. According to the Washington Office on Latin America (WOLA), over 90% of heroin consumed in the U.S. comes from Mexico. Thus, all the private passenger vehicles and commercial vehicles are scanned at the border.​

Increasing demand for portable X-ray devices around the world is expected to provide significant growth opportunities for players in the global X-ray machine manufacturing market. For instance, portable X-ray machine is an X-ray unit that's smaller than a fixed one and can be moved. It allows professionals to take X-ray images of patients without having to call them into a special lead-lined room. In July 2022, Fujifilm Europe announced the launch of the new hybrid C-arm and portable X-ray device, named FDR CROSS. It is designed to offer high quality fluoroscopic and static x-ray images during surgery and other medical procedures.

Global X-ray Machine Manufacturing Market Trends:

Deployment of handheld devices is a recent trend

The trend of miniaturization of devices and ease to use have led to the development of handheld variants. The customs and border protection organizations are prominent end users of handheld X-ray devices. The occurrences of illicit trading of explosives, drugs, arms, currency, ammunition, and other materials, are increasing worldwide. Handheld devices play important role in identifying these materials to prevent these trades and improve the national security. This trend is expected to continue during the forecast period, driving the market growth.

Technological advancements is another trend

Over the past few years, digital x-ray devices have undergone significant advances focused on core and ancillary technologies to provide high-quality, high-resolution images without corresponding increase in radiation dose. These solutions integrate new technologies and algorithms along with, other improvements to take advantage of the optimization potential of digital image enhancement. Artificial intelligence (AI) is running rampant in radiology and imaging equipment, and is already being used in many ways in radiology and is the future.

Global X-ray Machine Manufacturing Market Restraints:

High cost of equipment to hinder market growth

One of the key factors expected to hamper the growth of the global X-ray machine manufacturing market is the high cost of equipment and high cost of installation. For instance, one of the largest deciding factors in the upgradation to digital X-ray systems is the cost of initial installation as well as cost of equipment. However, players in the market are now offering high-quality digital X-ray devices with long life, low maintenance, and everywhere service center availability. Moreover, the portable X-ray device offers several advantages compared to traditional X-ray systems.

Use of refurbished devices to hamper market growth

Another factor which is hampering the growth of the global X-ray machine manufacturing market is the rise in use of refurbished X-ray devices worldwide. For instance, the increasing demand for refurbished medical devices, such as X-ray devices, affect the sales of the new devices and restrict the entry of new devices into the market. Refurbished medical imaging equipment and parts are available at 40 to 60% down the Dominium prices of new devices. Several Original manufacturers also sells refurbished equipment due to their better acceptance in the market.

Figure 2. Global X-ray Machine Manufacturing Market Share (%), by Product Type, 2023

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Global X-ray Machine Manufacturing Market Segmentation:

The X-ray machine manufacturing market report is segmented into Product Type, Technology, End-User, and Geography.

Based on Product Type, the market is segmented into Stationary and Portable. Out of which, Stationary Segment is expected to dominate the X-ray machine manufacturing market over the forecast period and this is attributed to the increasing demand for X-ray devices worldwide.

Portable Segment is also expected to witness significant growth in the near future and this is owing to the increasing adoption of portable X-ray devices/systems.

Based on Technology, the market is segmented into Analog and Digital. Out of which, Digital Segment is expected to dominate the market over the forecast period and this is attributed to the increasing adoption of digital X-ray devices/systems.

Based on End-User, the market is segmented into Healthcare, Transportation and Logistics, Government, and Other End Users. Out of which, Healthcare Segment is expected to dominate the market over the forecast period and this is attributed to the increasing prevalence of chronic or orthopedic diseases and rise in focus on disease diagnosis.

Government Segment is also expected to witness significant growth in the near future and this is owing to rise in deployment of highly efficient security solutions.

Global X-ray Machine Manufacturing Market: Key Developments

In August 2022, GE Healthcare launched the digital AI-enabled x-ray system. The Definium 656 HD platform includes artificial intelligence (AI) to provide enhanced anatomic detail and clarity through the use of Helix 2.2 advanced image processing and 100 um FlashPad HD detectors.

In September 2021, GE Healthcare introduced the AMX Navigate, a new portable, digital X-ray system designed with a first-of-its-kind power-assisted Free Motion telescoping coluBn that aims to reduce lift force by up to 70 percent and decrease technologist injury.

In September 2021, Basavatarakam Indo American Cancer Hospital & Research Institute launched a digital radiography machine ‘FDR SMART F’, Fujifilm’s latest high-quality and cost-effective x-ray system for its cancer patients.

In April 2021, Nobel Biocare and KaVo Imaging entered a partnership for the latest software development for imaging, diagnostics, treatment planning, treatment delivery, and follow-up.

In March 2021, Canon Inc. developed a new Built-in AEC1 assist technology (DR). Using this technology, the device's X-ray image sensor can perform either picture production or real-time detection of the pixel value corresponding to emitted X-rays.

In May 2020, Royal Philips expanded its manufacturing factory near Pune by 7,200 sq. feet to start manufacturing magnetic resonance imaging (MRI) and x-ray equipment.

Global X-ray Machine Manufacturing Market: Key Companies Insights

The X-ray machine manufacturing market is highly competitive. This is attributed to the increasing demand for X-ray devices/systems across the globe, as a result, players in the market are focusing on developing and launching novel products in the market.

Some of the key players in the global X-ray machine manufacturing market are Siemens AG, Canon Inc., Hologic Inc., Philips Healthcare, GE Healthcare, Shimadzu Corporation, Hitachi Medical Corporation, and Fujifilm Holdings Corporation, among others.

*Definition: X-rays are a form of an electromagnetic radiation with higher energy that can pass through most of the objects. X-ray machines pass x-ray beams through the body to produce images of the tissue, organs, bones, or teeth inside. These images allow healthcare providers and dentists to diagnose various health-related problems/conditions.