Medical X-ray Market Size, Share & Industry Analysis, By Product Type (Static, and Dynamic), By Technology (Digital, and CR/Analog), By Application (Dental, Veterinary, Cardiovascular, Oncology, and Others), By End-user (Hospitals & Clinics, and Diagnostic Centers & Others), and Regional Forecast, 2024-2032

The global medical x-ray market size was valued at USD 14.24 billion in 2023, and is projected to grow from USD 14.99 billion in 2024 to USD 23.93 billion by 2032, exhibiting a CAGR of 6.0% during the forecast period. North America dominated the global market with a share of 37.08% in 2023. Moreover, the U.S. medical x-ray market size is projected to grow significantly, reaching an estimated value of USD 6.09 billion by 2032, driven by increasing launches of technologically advanced medical x-ray systems by key players.

In medical x-ray, the image is formed with a screen-film system, CR cassette, and digital detectors. Analog x-ray systems were widely used in the past as these systems were more cost-effective than others. Nowadays, the existing installed analog x-ray systems at hospital facilities are upgraded to the digital x-ray systems via retrofit solutions. The demand of digital x-ray systems is due to the latest advancements in x-ray systems. These include the quick transfer of images, low radiation frequency than analog systems, safety, and high image quality than analog systems.

There are various applications where x-ray systems are used such as oncology, dental, cardiovascular, musculoskeletal, and others. The development of advanced systems by smart technologies, such as Artificial Intelligence (AI) and machine learning, by leading medical device manufacturers has also emerged as a vital growth factor in the market. 

• For instance, in March 2021, Philips Inc. partnered with Lunit to incorporate its chest detection suite into Philips’ diagnostic X-ray suite. The partnership is the latest extension of Philips’ AI-enabled portfolio of solutions in precision diagnosis.

The global medical x-ray market growth was negatively impacted during the COVID-19 pandemic. Factors responsible for the decline in the market include delay in the diagnosis and treatment of various chronic diseases such as cardiovascular diseases, oncology, and others, which impacted the diagnosis rate during the forecast period.

Additionally, restrictions imposed by the governments of different countries led to a disruption in the supply of these x-ray systems during the COVID-19 pandemic. Thus, the number of radiology practices across the globe decreased in 2020. Also, healthcare systems implemented restrictions limiting the number of patients they serve to decrease exposure risk. These restrictions, coupled with stay-at-home orders, resulted in a sharp decline in the demand for imaging services. However, in 2021, the market observed a post-pandemic shift due to factors such as increased number of elective procedures. Additionally, the increasing penetration of x-ray systems during the period is a key factor responsible for the post-pandemic growth of the market.

Medical X-ray Market Trends

Is the Adoption of Digital X-ray Systems Transforming the Market?

• Increasing Penetration of Digital X-ray Systems to Drive Market Growth

The healthcare sector has witnessed a gradual shift of preference to digital x-ray systems from analog x-ray systems. The shift of preference is attributed to high potential advantages of digital systems. Some of the benefits of digital radiography include lesser dose of radiation, improved outcome in lesser time, highly detailed & more accurate images, easy & quick image sharing, and others. Thus, hospitals and other healthcare systems are now focusing on the installation of digital x-ray systems rather than analog or CR systems owing to its benefits over others. Moreover, the federal reimbursement changes have supported the shift of analog x-ray systems toward digital x-ray systems across the globe.

• According to research study published by Bioinformatics Inc., in 2021, the IMV’s 2021 survey concluded that about 88.0% of mobile X-ray units installed in the U.S. hospital radiology departments use digital technology and 12.0% use CR cassettes/analog technology.

Additionally, changing reimbursement policies for x-ray systems is a major factor responsible for the shift of analog x-ray systems to digital x-ray systems. For instance, the Medicare system had started reducing payments for the exams performed on analog x-ray systems for the adoption of digital radiography (DR) in the U.S. Also, the payment reduction was done for the Computed Radiography (CR) equipment examinations in the country.

• According to an article published by Cassling in February 2023, the providers of outpatient Medicare eligible X-ray examinations conducted on a computed radiography system experienced a payment reduction of 7.0% on each exam for the past years in the U.S. But the penalty actually jumped up higher up to 10.0% since January 2023.

Thus, the above-mentioned advantages have enabled a rapid shift and the growing preference for digital x-ray equipment. This is expected to boost the market growth during the forecast period.

Medical X-ray Market Growth Factors

Did Increase in Number of Examinations have an Impact on the Demand for X-ray Systems?

• Increasing Awareness of Early Diagnosis is Leading to a Rise in the Number of X-ray Examinations

The growing burden of chronic diseases is one of the major factors responsible for the increasing diagnostic imaging tests performed globally. For instance, according to the World Health Organization (WHO), about 65.0 million people globally suffer from Chronic Obstructive Pulmonary Disease (COPD). Additionally, according to the CDC, in 2021, about 18.2 million adults aged 20 and older are suffering from coronary artery disease in the U.S. For the diagnosis of heart diseases, many physicians primarily require chest x-rays of the patients. Thus, the increasing prevalence of these conditions is leading to the demand for cost-effective and efficient diagnostic tools such as x-ray systems.

Additionally, the growing prevalence of age-related disorders such as osteoporosis due to rising number of geriatric population is supporting the demand for diagnostic imaging tests such as x-rays.

• According to the International Osteoporosis Foundation (IOF), more than 200.0 million people are suffering from osteoporosis globally. Additionally, 1 in 3 women and 1 in 5 men over the age of 50 years will experience osteoporosis fractures in their lifetime.


• According to the World Bank, Italy (23%), the U.K. (19%), Japan (28%), the U.S. (17%), and Germany (22%) are among the leading countries with significantly higher proportion of elderly population (as a percentage of the total population of the country), in 2021.

This combined with the rising incidences of neurological conditions as well as musculoskeletal conditions is responsible for the increasing number of medical x-ray procedures globally. According to an article published by NHS England, in March 2022, about 1.82 million medical X-ray tests were performed in the U.K. from April 2021 to March 2022.

In addition, factors such as technological advancements in x-ray equipment and the use of innovative methods for imaging have supplemented the market growth. Increasing applications of x-ray systems in detecting coronary syndrome, abnormal blood flow to the heart muscles, blockages in arteries, and other crucial cardiac conditions are expected to drive the x-ray systems market. For instance, according to a study published by Elsevier Ltd. in November 2021, researchers demonstrated the use of grating-based x-ray dark-field imaging as an early diagnostic tool in emphysema in chronic obstructive pulmonary disease.

• Strong R&D Focus by Market Players for Innovative Product Launches in the Market 

Since its discovery, the x-ray technology has revolutionized the field of medical diagnostics and imaging. The future of this technology holds a promising path with continuous technological advancements in the products and methods. This is one of the prominent factors that is anticipated to drive the market growth throughout the forecast period. Technological developments in the market disrupted the demand for analog x-ray systems and helped to digitize and mobilize the x-ray systems globally. Transition from film-based to digital radiography is one of the significant advancements. Digitalization in x-ray systems, mobile x-ray systems, and smaller sizes of the devices are some of the factors leading to the innovation in x-ray systems. These developments have enabled precise and even more accurate x-ray imaging coupled with increasing range of applications and greater patient comforts.

Moreover, incorporation of artificial intelligence and machine learning in x-ray systems has further improvised the capabilities of the x-ray systems. AI-enabled x-ray systems allow users to automate and standardize complex diagnostic procedures, improve patient experience outcomes, and reduce costs. The companies are focusing on the development of AI platforms for end-users to manage medical imaging data, which help clinicians in making quick diagnosis decisions.

• For instance, in May 2021, FUJIFILM Corporation introduced x-ray solution enabled with qXR, Qure.ai’s computed aided radiology software application, which was designed with deep-learning AI technology.

Additionally, 5D ultrasounds and digital x-rays with wireless DR detectors are the advancements which facilitate improved image quality and diagnosis. This along with the development of software integrated imaging modalities and other technological advancements in the x-ray technology is supporting new product launches by key players.

• For instance, in March 2021, Canon Inc., launched the CXDI-RF Wireless B1, a wireless digital radiography device. The device is ideal for imaging using various techniques and the imaging of various parts of patients’ bodies.

Thus, technological advancements in medical x-ray systems and new product launches by the key players are supporting the adoption of these devices in the market.

RESTRANING FACTORS

What are the Factors Limiting the Adoption of X-ray Systems?

• Increasing Concerns of Radiation Exposure Poised to Hamper Market Growth 

In recent years, the frequency of x-ray examinations in clinical medicine is increasing. It is also surging the public concerns regarding risks and harm caused by exposure to X-ray radiation. However, even physicians are not completely aware of the risks related to this. Despite various advantages of x-ray diagnostic imaging, x-ray radiations have some harmful risks. The radiation produced by the x-ray may damages the cells of the body. The small-timed exposure to x-rays such as chest x-ray may cause minuscule risks. However, the prolonged period of x-ray exposure may cause the cells to become cancerous.

• According to an article published by the U.S. Environment Protection Agency in February 2023, an average 1.0% in one million populations can develop a cancer risk by X-ray radiation.

This is anticipated to hamper the x-ray market during the forecast period.

Medical X-ray Market Segmentation Analysis

By Product Type Analysis

Dynamic Segment to Grow with Highest CAGR during the Forecast Period Owing to High Demand

Based on product type, the market is segmented into static and dynamic.

Owing to technological advancements in the x-ray system, market players are investing significantly in dynamic or portable medical x-ray systems. This segment dominated the market in 2023. One significant benefit of using dynamic systems is their ability to avoid extra movements and transport of patients. Another attractive feature of a dynamic medical x-ray system is its ability to give results in less time as compared to others.

• According to an article published by Wainscot Media in August 2022, dynamic systems are an enhanced version of a standard radiography system that acquires up to 15 frames per second for as long as 20 seconds, resulting in a maximum of 300 X-ray images with a dose equivalent to about two standard X-rays.

The static segment is expected to grow with a considerable growth rate during the forecast period. Increasing demand for medical x-ray systems by hospitals for imaging and diagnosis procedures along with increased partnerships of the key players is driving the segment growth. Additionally, increasing adoption of static x-rays in busy imaging centers, orthopedic offices, urgent care facilities, and ED workflow due to rising emergency conditions is supporting the growth of this segment.

By Technology Analysis

Better Image Quality and Lower Radiation Dose by Digital X-ray Systems to Lead to Market Dominance

On the basis of technology, the market is segmented into digital and CR/analog.

The digital segment dominated the market in 2023 due to the growing awareness about digital x-ray imaging benefits among healthcare professionals, which is the major factor for its rising preference and dominance. Additionally, increasing product launches of digital x-ray systems is supporting the segment dominance during the forecast period. For instance, in July 2022, Siemens Healthcare GmbH launched Mobilett Impact, its newest mobile X-ray system, at the European Congress of Radiology (ECR) 2022.

The CR/analog segment share is expected to decline throughout the forecast period due to the increasing adoption of digital x-ray systems. However, the factors such as faster procedure time by 60% and improved image quality at reduced radiation dose offered by Computed Radiography (CR) are supporting the revenue generation for the segment.

By Application Analysis

Growing Prevalence of Various Disorders to Boost Others Segmental Growth

On the basis of application, the market is segmented into dental, veterinary, cardiovascular, oncology, and others.

The others segment dominated the market in 2023 with a significant share owing to the growing prevalence of asthma, spinal, and orthopedic injuries, which is increasing the demand for chest x-rays and orthopedic x-rays. Thus, major companies are launching new products in the market to foster the market growth.

• For instance, in May 2023, Carestream Health introduced a new device DRX-Rise Mobile X-ray System that combines optimal image quality with enhanced maneuverability and ease of use for radiologists.

The growth of the dental segment is due to the growing prevalence of dental disorders among the geriatric and adult population, rising awareness regarding these disorders, and increased spending capacity for diagnosis purposes. For instance, according to a research article published in May 2021, the prevalence of periodontal disease was reported to range from 20.0% to 50.0% worldwide.

By End-user Analysis

Increasing Adoption of X-ray Equipment in Diagnostic Centers to Support the Market Growth

Based on end-user, the market is categorized into hospitals & clinics and diagnostic centers & others.

The diagnostic centers & others segment captured the largest market share in 2023. Increasing reliability of these centers for accurate results, wide availability of advanced x-ray equipment, and skilled professionals are the factors primarily responsible for the segment's dominance during the forecast period.

Improving facilities coupled with the presence of technologically advanced and novel X-ray machines in hospitals & clinics contribute to the rapid growth of the segment. Additionally, the increasing demand for the x-ray systems in hospitals and clinics due to its extensive use in diagnostic applications is supporting the market growth.

• For instance, in April 2022, Agfa-Gevaert Group installed its VALORY digital radiography room in the 40 hospitals of Aleris Group in Europe. Also, the hospitals have replaced the existing x-ray systems with Agfa-Gevaert Group’s digital x-ray system to enhance radiology services.

Regional Analysis

What are the Prime Factors for the Dominance of Asia Pacific in the Global Market?

The Asia Pacific market stood at USD 5.28 billion in 2023. The growth is attributed to increasing government initiatives to develop digitally advanced and portable medical x-ray systems. Additionally, there are increased mergers and acquisitions of the leading players to provide AI-powered x-ray systems to cater to the increasing demand for the early diagnosis of diseases.

• In February 2021, FUJIFILM Holdings Corporation acquired Hitachi Ltd., imaging diagnostic related business to expand its product portfolio by combining CT, MRI, X-ray, PACS, endoscopy, and ultrasound systems.

This combined with rising healthcare expenditure and higher emphasis on development of healthcare and hospital infrastructure in emerging countries, such as China, and India, is projected to lead to Asia Pacific gain a significant medical x-ray market share during the forecast period.

The North America market is projected to grow with a significant CAGR due to rising emergency patient visits across U.S. healthcare centers requiring diagnostic x-rays and favorable reimbursement environment by government healthcare programs in the U.S. for digital x-ray systems. According to an article published by GE Healthcare in 2022, around 35.0% of emergency department patient visits require diagnostic x-ray imaging in the U.S.

In Europe, the market is set to be primarily driven by the rising prevalence of chronic diseases such as cancer, cardiovascular diseases, and others. Therefore, the adoption of x-rays is beneficial for the accurate diagnosis and treatment of such disorders. This is anticipated to drive the market growth in the region. For instance, according to the Macmillan Cancer Report in 2022, around 3.0 million of the population was suffering from cancer in the U.K., which will rise to 3.5 million by 2025.

The market in Latin America is growing due to increasing awareness regarding the treatment & diagnosis options of various diseases and increasing penetration of digital x-ray systems. The Middle East and Africa market will continue to expand with a considerable market share during the forecast period attributable to the lifestyle changes of the people leading to the increasing prevalence of chronic diseases and developing healthcare infrastructure and new hospital developments as hospitals are expanding their radiology departments to offer better diagnostic services to patients.

How are the Emerging Players Positioning Themselves in this Consolidated Market?

The market for medical x-rays is consolidated with a few key players holding a major share. These players include GE Healthcare, Koninklijke Philips N.V., and CANON MEDICAL SYSTEMS CORPORATION marking a strong global presence. Increasing product approvals for x-ray systems and strategic decisions taken by these players are supporting the growth of these companies.

• In November 2021, GE Healthcare received a FDA clearance for the first x-ray AI to help clinicians assess Endotracheal Tube (ETT) placements.

Some other prominent players in the market include Siemens Healthcare GmbH, Carestream Health, Shimadzu Corporation, FUJIFILM Holdings Corporation, and others. These players are also focusing on strengthening their market presence through various initiatives such as new product launches, collaborations, partnerships, and others.

• In July 2022, Siemens Healthcare GmbH launched its Multix Impact E X-ray system at European Congress of Radiology (ECR) in Vienna. The launch of the system broadened access to healthcare care at an affordable cost.

LIST OF KEY COMPANIES PROFILED:

• Carestream Health (U.S.)


• GE Healthcare (U.S.)


• Koninklijke Philips N.V. (Netherlands)


• CANON MEDICAL SYSTEMS CORPORATION (Japan)


• FUJIFILM Holdings Corporation (Japan)


• Siemens Healthcare GmbH (Germany)


• Shimadzu Corporation (Japan)


• SAMSUNG ELECTRONICS CO., LTD. (South Korea)

KEY INDUSTRY DEVELOPMENTS:

What are the Key Industry Developments in this Market?

• February 2024 - DeepTek.ai introduced Augmento X-Ray, a chest x-ray based on artificial intelligence, at the Radiology Society of North America’s (RSNA) 109th Annual Meeting.


• May 2022- Siemens Healthcare GmbH partnered with Penta Hospitals International to provide its services to private project- Next Generation Hospital Bory in Bratislava. The move was aimed to improve the quality of healthcare through precision medicine and digital health solutions. The services include computed tomography, advanced therapies, MRI, X-ray, molecular imaging, and nuclear medicine devices.


• March 2022- NeuroLogica Corp., the U.S. subsidiary of SAMSUNG ELECTRONICS CO., LTD., announced that the company’s digital radiography and ultrasound business would operate under a new brand called Boston Imaging to provide innovative medical devices to the market.


• March 2022- CANON MEDICAL SYSTEMS CORPORATION acquired NRT X-RAY A/S to expand and strengthen its x-ray business across Europe.


• September 2021- Shimadzu Corporation launched mobile X-ray system MobileArt Evolution MX8 Version in Japan and the global market except the U.S. and China. The mobile x-ray system is used where the movement of patients is limited.


• March 2021- FUJIFILM Holdings Corporation launched the first portable x-ray device called FDR Xair XD2000 to provide quick and easy access to diagnostic imaging where space and resources are limited.

REPORT COVERAGE

The research report provides a detailed market analysis. It focuses on key aspects such as leading companies, technology type, applications, and distribution channels. Besides this, it offers insights into the market trends, and the prevalence of chronic diseases, among other key insights. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market in recent years.

Report Scope & Segmentation

ATTRIBUTE	DETAILS
Study Period	2019-2032
Base Year	2023
Estimated Year	2024
Forecast Period	2024-2032
Historical Period	2019-2022
Growth Rate	CAGR of 6.0% from 2024-2032
Unit	Value (USD Billion)
Segmentation	By Product Type Static Dynamic
By Technology Digital CR/Analog
By Application Dental Veterinary Cardiovascular Oncology Others
By End-user Hospitals & Clinics Diagnostic Centers & Others
By Geography North America (By Product Type, By Technology, By Application, By End-user, and By Country) U.S. (By Technology) Canada (By Technology) Europe (By Product Type, By Technology, By Application, By End-user, and By Country) U.K. (By Technology) Germany (By Technology) France (By Technology) Italy (By Technology) Spain (By Technology) Scandinavia (By Technology) Rest of Europe (By Technology) Asia Pacific (By Product Type, By Technology, By Application, By End-user, and By Country) China (By Technology) Japan (By Technology) India (By Technology) Australia (By Technology) Southeast Asia (By Technology) Rest of Asia Pacific (By Technology) Latin America (By Product Type, By Technology, By Application, By End-user, and By Country) Brazil (By Technology) Mexico (By Technology) Rest of Latin America (By Technology) Middle East & Africa (By Product Type, By Technology, By Application, By End-user, and By Country) GCC (By Technology) South Africa (By Technology) Rest of MEA (By Technology)