Asia Pacific medical X-ray market is estimated to grow at nearly 7% CAGR through 2027. The regional industry progression is predominantly driven by the rising number of patients suffering from various chronic diseases in the region. A high volume of patients will create tremendous demand for X-ray diagnostics in APAC.
Growing utilization of medical X-ray machine to detect numerous health conditions such as bone fractures, infections, calcifications, tumors, arthritis, and others will augment industry growth in the upcoming years. Increasing expenditure on healthcare infrastructure specifically in developed countries will provide lucrative growth opportunities to the medical X-ray equipment providers.
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The portable medical x-ray devices segment registered a revenue of over USD 5.4 billion in 2020 and will witness a substantial rise in demand through the forecasted timeframe. The growth is attributed to the increased necessity for point-of-care diagnostics. Moreover, soaring research & development activities for developing portable devices will propel the segment growth. Growing geriatric population has also contributed to the increased usage of medical x-rays for radiological tests in nursing homes, further boosting the industry growth.
In case of applications, the orthopedic segment is likely to showcase a CAGR of over 5.5% over the forecast period. Incidences of osteoporosis are on a rise amongst females as their bones weaken with age. According to the International Osteoporosis Foundation, Asia is one of the places where osteoporosis is undertreated and underdiagnosed. With changing lifestyles, there is a rising prevalence of orthopedic disorders, thus creating lucrative growth opportunities for the medical x-ray market in Asia.
The portable X-ray devices industry witnessed over US$5.4 billion in terms of annual valuation in 2020. The demand for point of care diagnostics is primarily driven by the elderly population base. There is a substantial rise in the geriatric population base suffering from mobility issues. Extensive investments towards R&D programs to introduce advanced portable systems to provide a point of care solutions to elderly people will augment the product use.
GE Healthcare, Canon Medical Systems, Neusoft Medical Systems, Hitachi Medical, Carestream Health, Siemens Healthcare, Konica Minolta, and Hologic, among others, are some of the leading firms in the global medical X-ray market. These companies are drawing strategies of mergers, partnerships, and collaborations in a bid to consolidate their foothold in the global market. For example, Philips in May 2019, joined hands with Medtronic to upgrade the existing imaging procedures for atrial fibrillation.
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Partial Chapter of the Table of Content
Chapter 4. Medical X-ray Market, By Type
4.1. Key segment trends
4.2.1. Market size, by region, 2016 - 2027 (USD Million)
4.3.1. Market size, by region, 2016 - 2027 (USD Million)
Chapter 5. Medical X-ray Market, By Technology
5.1. Key segment trends
5.2. Film-based radiography
5.2.1. Market size, by region, 2016-2027 (USD Million)
5.3. Computed radiography (CR)
5.3.1. Market size, by region, 2016-2027 (USD Million)
5.4. Direct radiography (DR)
5.4.1. Market size, by region, 2016-2027 (USD Million)
Chapter 6. Medical X-ray Market, By Portability
6.1. Key segment trends
6.2.1. Market size, by region, 2016-2027 (USD Million)
6.3.1. Market size, by region, 2016-2027 (USD Million)
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