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GE Healthcare Technologies, Inc., Philips Healthcare Inc., Siemens Healthcare AG, Canon Medical Systems Corporation, Fujifilm Holdings Corporation, and Hologic, Inc. are some of the leading companies in the market.
The global medical X-ray market was valued at USD 12.17 billion in 2023, driven by the increasing prevalence of chronic diseases, rising healthcare expenditure, increasing standards of diagnosis and treatment across healthcare units, and surging hospitalisation rates across the globe. The market is anticipated to grow at a CAGR of 5.8% during the forecast period 2024-2032 to reach a value of USD 20.21 billion by 2032.
Medical X-rays are used in imaging systems to capture pictures of human bones, organs, and tissues from the outside of the patient’s body without any incisions. It is a non-invasive medical imaging process that provides a precise picture of a targeted body part which enables the diagnosis and treatment of various medical conditions. Medical X-rays are safe, non-invasive, and can be used on patients of all ages as well as various animals.
The market for medical X-rays is significantly driven by the growing geriatric population as elderly individuals are more susceptible to musculoskeletal injuries due to weakened skeletal systems. The market is propelled by the increasing prevalence of cardiovascular, musculoskeletal, and oncological conditions, among other health complications. The rising prevalence of accidents is further increasing the need for medical X-rays to diagnose bone injuries.
The market is substantially driven by the increasing technological advancements in medical imaging technologies including X-ray. The increasing research and development activities by scientists and researchers across the globe are leading to cutting-edge innovations, shaping the overall landscape of the medical X-ray market. For instance, in August 2024, researchers at the University of Houston discovered a groundbreaking advancement in X-ray imaging technology with capabilities to potentially foster significant improvements in medical diagnostics, materials and industrial imaging, transportation security, and other applications. The researchers discovered a novel light transport model for a single-mask phase imaging system that fosters capabilities of enhancing non-destructive deep imaging for visibility of light-element materials, including soft tissues such as cancers and background tissues like plastics and explosives. The innovation is expected to improve the visualisation of soft tissues while undergoing X-ray medical imaging along with early-stage cancers, leading to increased early detection diagnoses and adoption among healthcare providers to provide effective diagnoses and consultations to their patients.
The market is witnessing strategic moves by the market players aimed at bringing innovation to the medical X-ray market. For instance, in September 2024, ProSpection Solutions, an inspection machinery manufacturer announced an exclusive partnership with System Square to bring their innovative X-ray and high-resolution dual-energy technology to the United States market. The SXM2 Series X-Ray Inspection Systems allegedly offers top-notch clarity and detail for a wide range of applications and artificial intelligence to process two overlapping images at once. The system has the capability to detect foreign material. This innovative technology is expected to revolutionise the landscape of inspection and medical imaging with unparalleled precision and performance, bolstering market development.
New product launches are further driving the market by bringing technologically advanced innovation into the market. For instance, in January 2024, Carestream Health, a worldwide provider of medical imaging systems launched a new and improved DRX-Excel Plus X-ray System supporting the enhanced performance of the powerful, two-in-one solution to enable more productivity and efficiency, higher image quality, and an improved experience for users and patients. The system is a flexible solution for both fluoroscopy and general radiology providing real-time, high-quality images for a wide range of exams while providing important features that help create an enhanced experience for users, patients, and administrators. The innovative system consists of some new features including automatic grid parking, automatic filter control, touch screen interface, automatic positioning, and flexibility to control table movements with foot pedals.
Headquarters: | New York, United States |
Establishment: | 2023 |
Website: | www.gehealthcare.com |
GE Healthcare Technologies is a leading global provider of advanced medical imaging technologies, including X-ray systems. Its portfolio in the medical X-ray market includes digital radiography systems, mobile X-ray machines, and fluoroscopy solutions, all designed to enhance diagnostic accuracy and patient care efficiency across healthcare settings.
Headquarters: | Eindhoven, Netherlands |
Establishment: | 1891 |
Website: | www.philips.com |
Philips Healthcare is a major player in the medical X-ray market, offering a comprehensive range of digital radiography and mobile X-ray systems. The company’s innovative portfolio includes solutions that optimise workflow, improve image quality, and provide real-time diagnostic capabilities, particularly for specialised imaging in areas like cardiology and oncology.
Headquarters: | Berlin, Germany |
Establishment: | 1847 |
Website: | www.siemens.com |
Siemens Healthcare, also known as Siemens Healthineers, provides advanced X-ray imaging systems for diagnostics and clinical applications. Their portfolio includes state-of-the-art digital radiography, mobile X-ray units, and fluoroscopy systems, offering high-resolution imaging, workflow automation, and AI-powered diagnostic tools that enhance patient outcomes.
Headquarters: | Tochigi, Japan |
Establishment: | 1948 |
Website: | https://global.medical.canon |
Canon Medical Systems Corporation is a leading company that provides expertise in angiography, healthcare IT, computed tomography, magnetic resonance, ultrasound, x-ray, nuclear medicine, and RF amplifier components, among others. The company provides a full range of medical imaging solutions.
Headquarters: | Tokyo, Japan |
Establishment: | 1934 |
Website: | https://holdings.fujifilm.com/en |
Fujifilm Holdings is a prominent player in medical imaging, providing innovative X-ray solutions, including digital radiography systems and mobile X-ray devices. Their portfolio is designed to deliver high-quality imaging with low radiation exposure, enabling accurate diagnostics across various clinical applications like pediatrics, orthopedics, and chest imaging.
Headquarters: | Massachusetts, USA |
Establishment: | 1985 |
Website: | www.hologic.com |
Hologic, Inc. specialises in medical imaging with a focus on women’s health, offering advanced X-ray systems such as digital mammography and bone densitometry. Hologic’s portfolio includes high-resolution imaging solutions that are critical for early detection of breast cancer and osteoporosis, enhancing diagnostic precision and patient care.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124