Medical X-ray Market is anticipated to accrue notable gains through 2032, owing to the availability of numerous reimbursement policies for medical X-rays. Many governments across the world are rolling out favorable reimbursement schemes to make medical imaging accessible to strengthen healthcare infrastructure. In fact, in the U.S., a government-backed insurance program, Medicare, bears 80% of the price of an X-ray device, while the rest 20% is kept as an out-of-pocket expenditure.
Overall, the medical X-ray industry is segmented in terms of type, technology, portability, application, end-use, and region.
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Based on technology, the medical X-ray market from the direct radiography segment is slated to grow at over 6% CAGR from 2023 to 2032 on account of increasing demand for portable and mobile devices in digital X-ray space. Moreover, superior image acquisition capabilities and lower cost of mobile X-ray devices compared to their conventional counterparts would favor their adoption.
Segment growth can also be attributed to the growing focus of market players in developing advanced mobile X-ray devices. For instance, in April 2022, Boston Imaging, the U.S.-based supplier of Samsung digital radiography products, launched GM85 Fit, a mobile radiography device, which recently received 510(k) clearance from the U.S. FDA.
With respect to application, medical X-ray market from orthopedics segment is expected to record a valuation of over USD 4 billion by 2032. Rising occurrence of orthopedic disorders such as osteoporosis has propelled the need for bone X-rays. In fact, osteoporosis is more common in females than in males due to weaker bones. As per the U.S. Department of Health and Human Services, over 8 million (80%) of the estimated 10 million Americans with osteoporosis are women.
In terms of end-use, the medical X-ray industry from the hospitals segment is poised to garner substantial revenue gains through 2032. High availability of trained healthcare professionals has increased patient footfall in hospitals. Additionally, these facilities offer precise and accurate imaging due to the availability of advanced X-ray machines, and other medical imaging modalities which makes them a preferred healthcare provider. Moreover, growing number of surgical procedures in hospitals is further creating a notable impetus for segment expansion.
On the regional front, Asia Pacific medical X-ray market is slated to garner over USD 5.5 billion in revenue by 2032. Increasing prevalence of chronic conditions in populous economies such as China and India have bolstered the need for medical X-ray procedures. As per WHO, nearly 77 million people above 18 years have type 2 diabetes and 25 million people are prediabetic in India. The mounting disease burden will therefore transform the regional market dynamics over the next ten years.
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Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Industry coverage
1.2 Market scope & definitions
1.3 Base estimates & working
1.3.1 Data collection
1.4 Forecast parameters
1.5 COVID-19 impact analysis at global level
1.6 Data validation
1.7 Data sources
1.7.1 Primary
1.7.2 Secondary
1.7.2.1 Paid sources
1.7.2.2 Unpaid sources
Chapter 2 Executive Summary
2.1 Medical x-ray industry 360° synopsis, 2018 - 2032
2.1.1 Business trends
2.1.2 Type trends
2.1.3 Technology trends
2.1.4 Portability trends
2.1.5 Application trends
2.1.6 End-use trends
2.1.7 Regional trends
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