History of X-ray industry can be traced back in the late 1890s with the discovery of X-rays by Wilhelm Conrad Roentgen. There have been numerous twist and turns along the way, as medical imaging technologies evolved over the period. Advance X-ray Technology have now become an important diagnostic tool for disease detection as well as preventive care. With the advent of technology, there has been a considerable shift in imaging technology, from using conventional film-based to digital technology that does not require films, chemical or dark rooms. Digital sharing and saving of images enable efficient diagnosis and ensure timely treatment. Awareness regarding early disease detection and treatment along with focus of industry players on development of innovative products will augment the Advance X-ray Technology industry growth during the forecast timeframe.
Growing burden of chronic disease such as cancer, cardiac diseases, neurological diseases, dental problems and musculoskeletal disorders should drive the Advance X-ray Technology market growth during the forecast period. Advance X-ray Technology has led to advances in diagnosis and treatment of several medical conditions. Increasing patient preference towards x-rays for non-invasive and painless disease diagnosis will favor business growth. Moreover, favorable reimbursement scenario for x-ray diagnosis leading to surge in the number of people opting for x-ray will spur industry revenue over the analysis timeframe.
Furthermore, digital solutions have revolutionized medical imaging by offering better image quality, faster processing time and dose reduction advantages over the conventional systems. Focus of industry players on offering high-tech and affordable systems will further accelerate industry growth.
Digital systems segment held more than XX% revenue share in 2018 and will show lucrative growth by 2025. Segment growth is attributed to advantages offered by digital systems including enhanced images, time efficiency and digital transfer of images. Furthermore, these digital x-rays provide real time imagery and allow accurate diagnosis that should foster segment growth over the coming years.
Orthopedic segment held more than 19% revenue share in 2018 and will witness similar trend during the forecast period. Osteoporosis prevalence is increasing among females owing to weaker bones and low bone density in comparison to males. As per the International Osteoporosis Foundation (IOF), around 5 million people aged 50 years and above had osteoporosis in 2015 and women accounted for 22.5%. Increasing prevalence of orthopedic disorders will surge the demand for effective appropriate and effective diagnosis thus, will spur the segment size.
North America Advance X-ray Technology market held over 33% revenue share in 2018 owing to high demand for preventive care and early disease diagnosis. Technological advancement in X-ray systems coupled with rising incidence of gynecological and orthopedic disorders will surge its adoption in the region. Strong foothold of major industry players in North America focusing on various strategies including innovative product launch will positively impact industry expansion.
Asia Pacific Advance X-ray Technology market will witness lucrative CAGR of more than 7.5% over the forecast period. Presence of large patient pool in densely populated nations such as India and China, susceptible to several chronic diseases will act as primary driver in the regional business growth. Furthermore, government support coupled with growing awareness pertaining to disease detection and treatment will increase regional business growth over the coming years.
The countries covered in the research scope across regions include:
* North America- U.S. and Canada
* Europe- Russia, U.K., France, Germany, Italy, Spain, and Rest of Europe
* Asia-Pacific- China, Japan, India, South Korea, Australia & New Zealand and Rest of Asia Pacific
* Latin America- Brazil, Mexico and Rest of Latin America
* Middle East & Africa- South Africa, Turkey, GCC Countries and Rest of Middle East & Africa
Key Market Players:
The key players profiled in the market include are Carestream Health, Shimadzu, Dentsply Sirona, Fujifilm Medical Systems, Canon, GE Healthcare, Hitachi Medical, Midmark, Konica Minolta, PerkinElmer, Hologic, Varian Medical Systems, Siemens and Philips Healthcare
Key Benefits of the Report:
* Global, regional, country Product Type, and Technology, market size and their forecast from 2015-2026
* Identification and detailed analysis on key market dynamics, such as, drivers, restraints, opportunities, and challenges influencing growth of the market
* Detailed analysis on industry outlook with market specific Porter’s Five Forces analysis, PESTLE analysis, and Value Chain, to better understand the market and build expansion strategies
* Identification of key market players and comprehensively analyze their market share and core competencies, detailed financial positions, key products, and unique selling points
* Analysis on Key players’ strategic initiatives and competitive developments, such as joint ventures, mergers, sales contracts, and new product launches in the market
* Expert interviews and their insights on market shift, current and future outlook, and factors impacting vendors’ short term and long term strategies
* Detailed insights on emerging regions, Product Type and Technology, with qualitative and quantitative information and facts
* Identification of the key patents filed in the field of Advance X-ray Technology
* Owing to the volatility seen in the market due to the Global COVID-19 pandemic, businesses around the globe wish to know the impact on their market and how this changes the projections for 2020 and the forthcoming years. Orian Research is in talks with seasoned market analysts and key note speakers to understand the impact of COVID-19 on markets and factors that will bring in stability in the foreseeable future
* Advance X-ray Technology Manufacturer & Supplier
* Traders, Importers, and Exporters
* Raw Material Suppliers and Distributors
* Research and Consulting Firms
* Government and Research Organizations
* Associations and Industry Bodies
The market is derived through extensive use of secondary, primary, in-house research followed by expert validation and third party perspective, such as, analyst reports of investment banks. The secondary research is the primary base of our study wherein we conducted extensive data mining, referring to verified data sources, such as, white papers, government and regulatory published articles, technical journals, trade magazines, and paid data sources.
For forecasting, regional demand & supply factors, recent investments, market dynamics including technical growth scenario, consumer behavior, and Technology trends and dynamics, and production capacity were taken into consideration. Different weightages have been assigned to these parameters and quantified their market impacts using the weighted average analysis to derive the market growth rate.
The market estimates and forecasts have been verified through exhaustive primary research with the Key Industry Participants (KIPs), which typically include:
* Raw Material Providers
* Government Body & Associations
* Research Institutes
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