The global X-ray Machine Manufacturing Market is estimated to be valued at US$ 16.05 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
X-ray machines are used for medical imaging and industrial non-destructive testing applications. They help in diagnostic and therapeutic procedures by producing high-quality images of internal body structures. Mobile and miniaturized imaging solutions are enabling point-of-care diagnosis.
Market key trends:
The adoption of artificial intelligence (AI) and machine learning capabilities is one of the key trends witnessed in the x-ray machine manufacturing market. AI integration helps in automating the diagnostic process, reducing errors, and improving efficiency. AI-powered algorithms can analyze medical images and detect abnormalities much faster than humans. This is positively impacting the market growth.
X-ray Machine Manufacturing Market is segmented into stationary and portable machines. The stationary X-ray machine segment dominated the market in 2022 owing to its widespread usage for diagnosis across hospitals and diagnostic centers. Stationary X-ray machines offer high image quality as compared to portable machines and are preferred for applications requiring precision.
The Global X-Ray Machine Manufacturing Market Growth is expected to witness high, exhibiting CAGR of 5.8% over the forecast period, due to increasing prevalence of chronic diseases and rising number of joint replacements surgeries globally.
North America dominated the global X-ray Machine Manufacturing Market in 2022 accounting for the largest revenue share of over 35%, owing to the high availability of advanced healthcare facilities in countries like United States and Canada. Asia Pacific is expected to exhibit the fastest growth over the forecast period, owing to rapidly developing healthcare infrastructure and rising medical tourism in China and India.
Key players operating in the X-ray Machine Manufacturing market are Siemens AG, Canon Inc., Hologic Inc., Philips Healthcare, GE Healthcare, Shimadzu Corporation, Hitachi Medical Corporation, and Fujifilm Holdings Corporation, among others. Siemens AG held the leading market share in 2022 owing to its wide product portfolio and global sales network.