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Global X-ray Tube Market to Grow at a CAGR of 4.7% During 2022-2027, Aided by Advancements in the X-ray Technologies

According to a new report by EMR titled, ‘Global X-ray Tube Market Report and Forecast 2022-2027’, the market attained a value of more than USD 1.64 billion in 2021. The industry is further expected to grow at a CAGR of 4.7% in the forecast period of 2022-2027 to reach a value of nearly USD 3.76 billion by 2027.

North America is expected to hold a significant share in the overall market growth of X-ray tubes in the coming years. This can be associated with the increasing demand for x-ray imaging owing to rising geriatric population and the prevalence of several diseases requiring body imaging. In addition to this, the market growth can further be associated with rising medical infrastructural developments such as the establishment of low-dose full body scanners in hospitals. Moreover, the deployment of X-ray machines in high security areas such as airports and hotels to maximise security and minimise the risk of terror are additional factors influencing the market growth positively. In addition to this, trends surrounding helicopters and aircraft production in the region has been augmenting the demand for X-ray tubes in non-destructive applications. Hence, these are some of the factors propelling the growth of the market in the region.

GE Healthcare (NYSE: GE), a leader in the global market for X-ray tube, recently announced in November 2021, that the company has received Food and Drug Administration (FDA) clearance for an artificial intelligence (AI) algorithm to help clinicians assess Endotracheal Tube (ETT) placements. The AI algorithm designed by the company is industry’s first collection of AI algorithms embedded on a mobile x-ray device for automated measurements, case prioritisation and quality control. Such developments by leading market players are invigorating the market growth of x-ray machines and correspondingly augmenting the growth of X-ray tubes.

Market Analysis by Type, End Use, and Region:

  • The market, based on type, can be divided into rotating anode tube and stationary X-ray tube. 
  • On the basis of end use, the market can be classified into manufacturing, healthcare, food, and aerospace and defence, among others.
  • The major regional markets for the product include North America, Latin America, Europe, the Asia Pacific, and the Middle East and Africa.

Key Findings of the Report:

  • The market is being driven by the rising medical applications of X-ray machines for effective diagnosis of fatal diseases such as cancer or bone injuries.
  • The rise in demand for X-ray machines and CT scanners for body imaging to check the severity of COVID-19 causing virus has been propelling the market growth.
  • The use of x-ray machines for promoting security in airports, railway stations, and hotels, among others, is driving the market growth of X-ray tubes globally.
  • Technological advancements in X-ray tube designs and reduced sizes of X-ray machines are providing impetus, thereby furthering the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global X-ray tube industry for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) markets for types, end uses, and major regions.
  • It assesses the regional price trends for the (2017-2021) and (2022-2027) periods.
  • The market report also analyses the trade data by covering the major importing and exporting countries. 
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global X-ray tube market are Varex Imaging Corporation, Malvern Panalytical Ltd, Oxford Instruments plc, Siemens Healthineer AG, and Canon Electron Tubes and Devices Co. Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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