Global Radiography Systems Market is segmented by Type, Application, and End-User: Ken Research

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Competition Scenario in Global Radiography System Market

The Global Radiography Systems market is highly competitive with ~100 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche diagnostic imaging techniques, such as AI-enabled x-ray interpretation, digital mobile radiography, automatic image stitching, dual-energy imaging, and others, for end-users. The radiology market's growth is heavily reliant on detection technologies and advancements in testing equipment and instruments.

Country-Niche players control about ~40% of the market, while regional players hold a share of ~35%. Some of the major players in the market include General Electric Company, Hitachi Medical Corporation, Siemens Healthcare GmbH, Koninklijke Philips N.V., Samsung Medison Co. Ltd, Fujifilm Holdings Corporation, Hologic, Inc., Shimadzu Corporation, Canon Medical Systems Corporation, Agfa-Gevaert Group, Carestream Health, Esaote and among others.

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What is the Expected Future Outlook for the Overall Global Radiography System Market Across the globe?

The Global Radiography System market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Radiography System Market is driven by increasing use of AI-enabled diagnostic equipment for rapid diagnosis and predictive analysis, notably in developed countries. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

With the increasing innovation and emergence of new products, the Global Radiography System market is changing rapidly. For instance, In July 2022, Fujifilm, a Japanese photography company, launched a hybrid c-arm and portable x-ray solution in Europe, with the intention of providing high-quality fluoroscopic and static x-ray images during surgery and other medical procedures.

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In April 2022, Unilabs, a European company that provides diagnostic services, collaborated with GE Healthcare, a U.S.-based company that offers medical technology and digital solutions, to provide advanced radiography systems and imaging services, including MRI and CT scanning technology, ultrasound devices, mammography, and X-ray machines, and innovative imaging fleet services in Portugal.

The Global Radiography Systems Market is forecasted to continue an exponential growth that is witnessed since 2017. The major driving factor contributing to the expansion of radiography systems is a rise in the prevalence of chronic diseases such as cancer, diabetes, cardiovascular disease, neurology disorders, and others, combined with advancements in healthcare systems. Though the market is highly competitive with ~100 participants, few global players control the dominant share and regional players also hold a significant share.

By Type

• X-Ray Devices

• Ultrasound Systems

• Computed Tomography (CT) Scanners

• Magnetic Resonance Imaging (MRI) Equipment

• Nuclear Imaging Equipment

By Application

• Cardiology

• Neurology

• Orthopedics

• Gynecology

• Oncology

By End User

• Hospitals and Clinics

• Specialty Clinics

• Diagnostic Imaging Centers

 By Geography 

• North America (USA, Canada, Mexico)

• Europe (Germany, UK, Italy, France, Spain, Rest of Europe)

• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of Asia Pacific)

• LAMEA (Latin America, Middle East, Africa)

Key Players

• General Electric Company

• Hitachi Medical Corporation

• Siemens Healthcare GmbH

• Koninklijke Philips N.V.

• Samsung Medison Co. Ltd

• Fujifilm Holdings Corporation

• Hologic, Inc.

• Shimadzu Corporation

• Canon Medical Systems Corporation

• Agfa-Gevaert Group

• Carestream Health

• Esaote

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Global Radiography Systems Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

Global Radiography Systems Market and is expected to grow at a ~5% CAGR during 2022 to 2028: Ken Research

 Radiography System is outlined as an exposure device/equipment that is primarily used for radiography activities such as X-ray, computed tomography (CT) scan, ultrasound, magnetic resonance imaging (MRI), and others. Radiography is used in a variety of examinations and procedures that necessitate a record of a static image, including dental examinations, mammography, orthopedic evaluations, chiropractic examinations, and static recording during fluoroscopy.

According to Ken Research Analysis, the Global Radiography Systems Market was valued at ~US$ 25 billion in 2017, it is estimated to be ~US$ 30 billion in 2022 and is expected to grow at a ~5% CAGR during 2022 to 2028, with market size of ~US$ 40 billion in 2028. The rise in the prevalence of chronic diseases such as cancer, diabetes, cardiovascular disease, neurology disorders, and others, combined with advancements in healthcare systems, has resulted in an increased emphasis on early detection.

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• Increasing use of AI-enabled diagnostic equipment for rapid diagnosis and predictive analysis, notably in developed countries is one of the major contributing factors to the rising demand for radiography systems.
• The increasing prevalence of osteoarthritis worldwide, combined with the growing need to diagnose, monitor, and treat health conditions, such as pregnancy, swelling or infection in internal organs, spinal injuries, dental issues, and tendon/ligament tears, is likely to drive market growth in the forthcoming years.
• High prices for medical imaging tests and limited access to critical infrastructure, particularly in developing countries, are expected to stifle market growth.
• The ongoing COVID-19 pandemic has adversely affected the global radiography systems market in 2020, primarily due to a decline in patient visits to hospitals and clinics. However, Computed Tomography (CT) scanners witnessed a higher demand in 2020, owing to the need for High-Resolution CT (HRCT) scans for the diagnosis of COVID-19 patients through chest scans.

Key Trends by Market Segment

By Type: The X-Ray Devices segment held the largest market share of the Global Radiography systems Market in 2021, owing to the increase in the demand for early-stage diagnosis of chronic diseases, such as lung infection, breast cancer, enlarged heart, and blocked blood vessels.

• The ongoing COVID-19 pandemic has also propelled the demand for x-ray systems across countries due to an increase in the number of COVID patients undergoing chest testing.
• Increasing the use of interventional x-ray systems, including C-arms for image-guided surgeries, is also expected to boost x-ray system market growth.

By Application: The Cardiology segment held the largest market share of the Global Radiography systems Market in 2021, primarily due to the surge in the prevalence of cardiovascular disease.

• The growing geriatric population exacerbates the need for healthcare products and services as such population is more vulnerable to diseases, such as respiratory (tuberculosis and pneumonia), oral, orthopedic (osteoporosis), and cardiovascular diseases.
• The ubiquity of high blood pressure among individuals across countries is also contributing to the demand for cardiac radiography systems, as high blood pressure constitutes one of the most important risk factors for cardiovascular disease.

By End User: The Hospitals and Clinics segment accounted for the majority share of the Global Radiography systems Market in 2021.

• The continuous development in the healthcare industry across countries has raised the requirement for hospitals with advanced techniques and facilities.
• The growing number of chronic diseases tested during the assessments and processing of body fluids, particularly following the worldwide explosion of the COVID-19 pandemic, are another major factor influencing the demand for radiography systems in hospitals and clinics.

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By Geography: North America accounted for the largest market share in the global radiography systems market in 2021.

• The growth is mainly attributed to increased technological adoption in diagnostic techniques, extensive research initiatives, and regulatory science activities across the healthcare industry, especially in countries such as USA, and Canada.
• The region's developed healthcare and hospital infrastructure is also a major factor behind the expansion of radiography systems.

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Competitive Landscape

The Global Radiography Systems market is highly competitive with ~100 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche diagnostic imaging techniques, such as AI-enabled x-ray interpretation, digital mobile radiography, automatic image stitching, dual-energy imaging, and others, for end-users. The radiology market's growth is heavily reliant on detection technologies and advancements in testing equipment and instruments.

Country-Niche players control about ~40% of the market, while regional players hold a share of ~35%. Some of the major players in the market include General Electric Company, Hitachi Medical Corporation, Siemens Healthcare GmbH, Koninklijke Philips N.V., Samsung Medison Co. Ltd, Fujifilm Holdings Corporation, Hologic, Inc., Shimadzu Corporation, Canon Medical Systems Corporation, Agfa-Gevaert Group, Carestream Health, Esaote and among others.

Recent Developments Related to Major Players and Organizations

• In July 2022, Fujifilm, a Japanese photography company, launched a hybrid c-arm and portable x-ray solution in Europe, with the intention of providing high-quality fluoroscopic and static x-ray images during surgery and other medical procedures.

• In April 2022, Unilabs, a European company that provides diagnostic services, collaborated with GE Healthcare, a U.S.-based company that offers medical technology and digital solutions, to provide advanced radiography systems and imaging services, including MRI and CT scanning technology, ultrasound devices, mammography, and X-ray machines, and innovative imaging fleet services in Portugal.

CONCLUSION

The Global Radiography Systems Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 is forecasted to continue an exponential growth that is witnessed since 2017. The major driving factor contributing to the expansion of radiography systems is a rise in the prevalence of chronic diseases such as cancer, diabetes, cardiovascular disease, neurology disorders, and others, combined with advancements in healthcare systems. Though the market is highly competitive with ~100 participants, few global players control the dominant share and regional players also hold a significant share.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and report delivered within maximum 2 working weeks.

Market Taxonomy

By Type         

• X-Ray Devices
• Ultrasound Systems
• Computed Tomography (CT) Scanners
• Magnetic Resonance Imaging (MRI) Equipment
• Nuclear Imaging Equipment

By Application

• Cardiology
• Neurology
• Orthopedics
• Gynecology
• Oncology

By End User

• Hospitals and Clinics
• Specialty Clinics
• Diagnostic Imaging Centers
• By Geography • North America (USA, Canada, Mexico)
• Europe (Germany, UK, Italy, France, Spain, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of Asia Pacific)
• LAMEA (Latin America, Middle East, Africa)

Key Players  

• General Electric Company
• Hitachi Medical Corporation
• Siemens Healthcare GmbH
• Koninklijke Philips N.V.
• Samsung Medison Co. Ltd
• Fujifilm Holdings Corporation
• Hologic, Inc.
• Shimadzu Corporation
• Canon Medical Systems Corporation
• Agfa-Gevaert Group
• Carestream Health
• Esaote

3 Key Insights on US$ 40 Bn Opportunity in Global Radiography Systems Market: Ken Research

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Driven by the increasing prevalence of chronic diseases, such as cancer, cardiovascular diseases, and neurology disorders, the Global Radiography Systems Market is forecasted to Cross US$ 40 Bn by 2028 says Ken Research Study.

Radiography systems are medical devices that use imaging technologies such as X-rays, ultrasound systems, computed tomography (CT) scanners, and others to treat and diagnose patients. Such imaging technologies aid in capturing images of the patient's inner structure to determine the presence or absence of any disease, structural damage, or abnormality. Furthermore, radiography is also used in a variety of examinations and diagnostic tests, such as dental examinations, chiropractic examinations, and orthopedic evaluations where a digital image record is intended.

“Ken Research shares 3 key insights on this ~US$ 40 billion market from its latest research study”

1.   Radiography Systems Market has Seen Steady Growth after a Rise in Demand for Computed Tomography (CT) scans in 2020.

The Global Radiography Systems Market is expected to witness stable growth during the forecast period, owing to the increased need for High-Resolution CT (HRCT) scans in 2020 for the diagnosis of COVID-19 patients through chest scans. The global radiography system market was valued at ~US$ 25 billion in 2017, it is estimated to be ~US$ 30 billion in 2022 and is expected to reach a market size of ~US$ 40 billion by 2028 growing with a CAGR of ~5%. North America is the dominating region in the Global Radiography Systems Market, owing to the increased technological adoption of diagnostic techniques, extensive research initiatives, and regulatory science activities across the healthcare industry, especially in countries such as USA, and Canada.

2.   The Increasing Prevalence of Chronic Diseases, such as cancer, cardiovascular diseases, and Neurological Disorders is Major Growth Driver for the Global Radiographic Systems Market.

The growing geriatric population worldwide, who are more exposed to chronic and infectious diseases, including arthritis is propelling the demand for radiography systems. In addition, the increasing prevalence of cancer, cardiovascular diseases, and autoimmune diseases, such as type 1 diabetes, and nephrological diseases is increasing the use of imaging techniques in diagnostic testing. For instance, according to World Health Organization (WHO), a government agency of the United Nations, nearly 18 million people died from cardiovascular diseases (CVDs) worldwide in 2019, accounting for 32% of all global deaths, with more than three-quarters occurring in low-resource countries.

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3.   Higher Prices of Medical Imaging Tests and Limited Access to Critical Infrastructure are expected to Stifle Market Growth.

Radiology tests are relatively expensive due to the expense of film, as well as the need for expensive protective enclosures. The semiconductor detector, which measures both the intensity and the energy of incident radiation, has the highest energy resolution and the clearest image tendency. Hence, an X-ray machine with a semiconductor detector is likely to be more expensive.

For more information on the research report, refer to the below link:

Global Radiography Systems Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

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