What Is the Size of Global Radiography System Industry?
Global Radiography System market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.
The Radiography System Market is largely driven by increasing use of AI-enabled diagnostic equipment for rapid diagnosis and predictive analysis, notably in developed countries.
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.
Furthermore, 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.
Global Radiography System Market by Type
The Global Radiography System market is segmented by Type X-Ray Devices, Ultrasound Systems, Computed Tomography (CT) Scanners, Magnetic Resonance Imaging (MRI) Equipment and Nuclear Imaging Equipment.
The X-Ray Devices segment held the largest market share of the Global Radiography Systems Market in 2022, 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.
Global Radiography System Market by Application
The Global Radiography System Market is segmented by Application into Cardiology, Neurology, Orthopedics, Gynecology and Oncology.
The Cardiology segment held the largest market share of the Global Radiography Systems Market in 2022, primarily due to the surge in the prevalence of cardiovascular disease.
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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.
Global Radiography System Market by End-User
The Global Radiography System market is segmented by End-User into Hospitals and Clinics, Specialty Clinics and Diagnostic Imaging Centers.
The Hospitals and Clinics segment accounted for the majority share of the Global Radiography systems Market in 2022.
The continuous development in the healthcare industry across countries has raised the requirement for hospitals with advanced techniques and facilities.
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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.
Global Radiography System Market by Geography
The Global Radiography System Market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
North America accounted for the largest market share in the global radiography systems market in 2022.
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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Global Radiography Systems Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research