Medical X-Ray Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030

The global Medical X-Ray Market size, valued at approximately US$ 13,472 Million in 2021, is poised for substantial growth, projected to reach around US$ 21,057 Million by 2030, with an impressive Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period from 2022 to 2030.

An x-ray procedure is a widely employed diagnostic imaging method that enables medical practitioners to visualize internal structures of the human body without the need for invasive procedures. This non-invasive technique plays a pivotal role in the diagnosis, monitoring, and treatment of various medical conditions. X-rays utilize electromagnetic radiation, resembling visible light, to generate images of bodily tissues and structures. They are commonly used for diagnosing diseases affecting the chest and bones, offering a painless and efficient diagnostic tool.

Medical X-Ray Market Highlights

• Global medical x-ray market revenue is poised to garner USD 21,057 million by 2030 with a CAGR of 5.2% from 2022 to 2030
• North America medical x-ray market value occupied around USD 4,176.2 million in 2021
• Asia-Pacific medical x-ray market growth will record a CAGR of more than 6% from 2022 to 2030
• Among technology, the directed radiotherapy sub-segment occupied over US$ 5,658 million revenue in 2021
• Based on end-use, the diagnostic centers sub-segment gathered around 41% share in 2021
• Integration of artificial intelligence for image analysis and diagnosis is a popular medical x-ray market trend that drives the industry demand

Market Growth Drivers

• Increasing Incidences of Chronic Disorders: The escalating prevalence of chronic illnesses, such as chronic obstructive pulmonary disease (COPD), which is a significant contributor to global mortality, is a key driver for the medical x-ray market. In 2019 alone, COPD was responsible for over 3.2 million deaths worldwide, with a majority occurring in low- and middle-income nations. Additionally, conditions like chronic bronchitis and emphysema have also contributed to the market's expansion.
• Growth in Diagnostic Imaging Procedures: The demand for diagnostic imaging procedures has been on the rise, further fuelling the medical x-ray market. Advanced diagnostic tools have become integral in modern healthcare, facilitating accurate diagnoses and treatment planning.
• Growing Cases of Bone Fractures and Breaks: The increasing incidence of bone fractures and injuries globally has added to the market's growth. Fractures pose a significant public health challenge, with millions of new cases reported annually.

Market Restraint

• Harmful Effects of X-ray Radiations: Despite their diagnostic benefits, the potential harmful effects of x-ray radiation remain a restraint on market growth. While the risk of radiation-induced cancer is considered minimal, long-term exposure to X-rays poses health concerns.

Market Opportunities

• Growing Implementation of Digital X-ray Systems: The adoption of digital x-ray systems presents a notable market opportunity. These systems offer enhanced imaging quality, reduced radiation exposure, and efficient data management, making them increasingly popular.
• Technological Improvements in Diagnostic Imaging: Ongoing technological advancements in diagnostic imaging techniques promise improved patient outcomes and efficiency, presenting a favorable outlook for the medical x-ray market.

Medical X-Ray Market Report Coverage

Covid-19 Impact on the Global Medical X-Ray Industry

The global medical x-ray industry experienced significant fluctuations due to the COVID-19 pandemic. Initially, there was increased demand for imaging examinations to detect COVID-19 in patients' chest X-rays and CT scans. However, many radiology practices were temporarily shut down, leading to a stabilization in demand. For instance, the American College of Radiology (ACR) discouraged the use of CTs and x-rays as the primary diagnostic tools for COVID-19, impacting the market negatively.

Market Dynamics

The growth of the global medical x-ray market is primarily driven by the increasing prevalence of chronic diseases, such as COPD, chronic bronchitis, and emphysema. Additionally, the rising incidence of bone fractures and injuries contributes to market expansion. However, concerns regarding the harmful effects of x-ray radiation remain a limiting factor.

Market Segmentation

The global medical x-ray market is segmented based on technology, type, portability, application, end-use, and geography.

Market By Technology

• Computed Radiography (CR)
• Direct Radiography (DR)
• Film-Based Radiography

In 2021, the direct radiography (DR) segment held a significant market share in the technology category. DR systems offer superior image quality, dynamic range, and reduced radiation exposure, making them favored for orthopedic and dental diagnostics.

Market By Type

• Digital
• Analog

Digital x-ray systems are experiencing robust demand and are expected to witness accelerated growth. Government policies favoring digital systems are driving this trend, although analog x-ray systems currently maintain a substantial market share due to lower costs.

Market By Portability

• Fixed
• Portable

Portable x-ray machines are poised to lead in the coming years due to their space efficiency, suitability for low-volume settings, cost-effectiveness, and rapid operation. In contrast, fixed x-ray rooms require dedicated space and specialized electrical equipment.

Market By Application

• Veterinary
• Oncology
• Cardiology
• Orthopedics
• Neurology
• Others

Among applications, mammography is expected to achieve substantial market growth due to its role in early breast disease detection. The rising prevalence of breast cancer is a key driver for the mammography segment.

Market By End-Use

• Diagnostic Centers
• Hospitals
• Others

Diagnostic centers dominate the end-use segment due to their accessibility to advanced equipment and the increasing preference for rapid x-ray examinations. Hospitals also contribute significantly to the market, driven by a growing number of hospital visits and the need for precise diagnostic tools.

Medical X-Ray Market Regional Overview

North America: The United States and Canada

Europe: The United Kingdom, Germany, France, Spain, and the rest of Europe

Latin America: Brazil, Mexico, and the rest of Latin America

Asia-Pacific: China, Japan, India, Australia, South Korea, and the rest of Asia-Pacific

North America is expected to maintain its market leadership, driven by a high prevalence of chronic diseases, an aging population, advanced healthcare facilities, and increased investment in advanced x-ray technology.

Competitive Landscape

Key players in the medical x-ray market include Canon Medical Systems, Carestream Health, Fujifilm Corporation, GE Healthcare, Hitachi Medical, Hologic, Konica Minolta, Koninklijke Philips N.V., Neusoft Medical Systems, and Siemens Healthcare.