Medical X-ray market set to grow to USD 24.50 billion by 2032 with increasing demand for advanced diagnostic tools
From GlobeNewswire: 2024-10-23 09:00:00
The Medical X-ray Market was valued at USD 14.25 billion in 2023, expected to reach USD 24.50 billion by 2032, with a CAGR of 6.22%. Demand for high-tech diagnostic instruments is rising, especially with the prevalence of chronic illnesses. Digital imaging and AI upgrades enhance diagnostic productivity and quality, driving market growth.
The Medical X-ray market boasts a stable demand-supply balance due to technical advancements and the need for accurate disease diagnosis. The market growth is fueled by the increasing incidence of chronic diseases like cardiovascular diseases and cancers, which require advanced imaging systems for accurate diagnostics and patient comfort. Rising healthcare costs and government efforts to upgrade health infrastructure in emerging markets will further drive demand.
Key players in the Medical X-ray market include GE Healthcare, Siemens Healthcare, and Canon Medical Systems. The market size is projected to reach USD 24.50 billion by 2032, growing at a CAGR of 6.22%. The static X-ray segment held a market share of 60.0% in 2023, while the dynamic segment is expected to grow by 10% in the coming years. Cardiovascular applications held a 35.0% market share in 2023, with oncology applications expected to grow at a CAGR of 12%.
Asia Pacific led the Medical X-ray market in 2023, driven by increased investments in healthcare and advanced imaging technologies. The region benefits from growing healthcare infrastructure in countries like China and India, as well as government initiatives to improve healthcare quality. North America is expected to remain the largest market for medical X-rays, with a high volume of emergency visits and favorable reimbursement environment. Major players in the region are launching new products to meet the increasing demand.
Recent developments include the release of AI-driven solutions and collaboration between industry leaders for better diagnosis tools. For more in-depth insights and analysis, customers can access the full research report on the Medical X-ray market from SNS Insider. Our expert analysts provide valuable information and advice to help clients navigate the changing market landscape and make informed decisions.
Read more at GlobeNewswire: Medical X-ray Market to Reach USD 24.50 Billion by 2032