Sunday, March 26th, 2023

Medical Radiography Market 2022-2030 Business Updates

A latest report from Absolute Markets Insights covers insights into the global Medical Radiography market. This comprehensive report offers insights into the market, models and drivers of business growth. Also includes Medical Radiography market share, sales volume and education charts. Research analysts have combined important and additional information, such as commitments from market leaders, into a well-crafted report. This report is an essential insight into strategies and information and is primarily aimed at business leaders. The main objective of this Medical Radiography report is to provide industry knowledge and help our clients achieve natural growth in their respective fields. The Medical Radiography report also shows a new uptrend that includes market conditions and market forecast 2022-2030.

Some of the major players operating in the global Medical Radiography market include: ADANI, Agfa-Gevaert Group, Allengers, Canon Medical Systems, Carestream Health, FUJIFILM Corporation, GENERAL ELECTRIC COMPANY, Hitachi Healthcare Americas, Hologic, Inc., ITALRAY, Konica Minolta, Inc., Koninklijke Philips N.V., Neusoft Corporation, NP JSC Amico, SAMSUNGHEALTHCARE.COM, Shenzhen BASDA Medical Apparatus Co., Ltd., Shimadzu Corporation, Siemens Healthcare Private Limited, Skanray Technologies Pvt. Ltd and Trivitron Healthcare amongst others.

In terms of revenue, global medical radiography market was valued at US$ 1692.07 Mn in 2022 and is anticipated to grow at a CAGR of 10.9% over the forecast period.

The competitive landscape of the market study contains a broader analysis of the regions including North America, Europe, Asia-Pacific, Middle East and Africa, Latin America, which are expected to capture the essence of the market in its broadest category. The list encompasses significant players who manage the sector based on the system’s overall production capabilities, environmental contributions, appropriate channels, and territorial proximity through a system of primary and secondary research methodologies followed by an in-house analytical model. Furthermore, the generated income and a generalized market share for the market is presented with the help of graphs, charts and tables.

Furthermore, the report also contains important collaborations, mergers and acquisitions, key market trends and business policies are evaluated. The study contains primary and secondary information pertaining to the Medical Radiography Market in terms of its global status, market size, growth forecasts, trends, segments, and a detailed forecast.

Key insights from the report:

  • The report provides key statistics on the market status of Medical Radiography Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
  • The report provides a basic overview of the industry, including its definition, applications and manufacturing technology.
  • The report features the company profile, product specifications, capacity, production value and market share 2022-2030 for the top vendors.
  • The total market is further divided by company, by country and by application/type for the analysis of the competitive landscape.
  • The report then estimates the 2022-2030 market development trends of the P2P Loans industry.
  • Analysis of upstream raw materials, downstream demand and current market dynamics is also performed.
  • The report makes some important proposals for a new project of Medical Radiography Market before evaluating its feasibility.

Covid-19 cumulative impact:

This study presents insights into COVID-19 on consumer behavior and changes in demand, purchasing patterns, supply chain reorganization, dynamics of market forces, and substantial government involvement. The new research provides insights, analysis, estimates and predictions in light of the effect of COVID-19 on markets. The Medical Radiography Market report provides a solid observation on the prominent players in terms of strategic analysis, micro and macro market trends and opportunities, pricing trends, and a generalized overview of the market. The Medical Radiography Market is a detailed study packed with primary and secondary market factors, market share, leading segments and a proper geographic analysis.

Key questions answered in this report:

  • What will the market size and growth rate be in 2030?
  • What are the key drivers of the global market?
  • What are the key market trends impacting the growth of the global market?
  • What are the market growth challenges?
  • Who are the key vendors in the global market?
  • What are the global market opportunities and challenges for sellers?
  • What are the key findings of the global five-point analysis of the Medical Radiography market?

Increasing demand for real-time imaging capabilities from high number of orthopaedic surgeries performed worldwide are propelling the global medical radiography market.

Medical imaging encompasses different techniques to image the human body for diagnostic and treatment purposes and therefore plays a vital role in initiatives to improve public health for all population groups. The use of diagnostic imaging technologies assists in confirming, correctly assessing and documenting courses of many diseases as well as in assessing responses to treatment. Radiography is one such medical imaging technique, crucial in a variety of medical setting, used to diagnose or treat patients by recording images of the internal structure of the body to assess the presence or absence of disease, foreign objects, and structural damage or anomaly.  In this technique, X-ray beam is passed through the human body. A portion of these x-rays are either absorbed or scattered by the internal structure and the remaining x-ray beams are transmitted to a detector to generate an image for later evaluation. The recoding of the human body occurs on a film or in electronic medium. Radiography is used in many types of examinations and procedures such as dental examination, verification of correct placement of surgical markers prior to invasive procedures, mammography, orthopaedic evaluations, chiropractic examinations and others, where a record of a static image is desired.

This technique has proven its efficacies in orthopaedic applications as the bones are more dense than body tissues, hence, absorb more radiations and generate clear images in real-time. The increasing number of orthopaedic surgeries in recent years has inflated the demand for radiography. For instance, a report published by Blue Cross Blue Shield Association in January 2019 highlighted that orthopaedic surgery spending witnessed a growth of 44% in past few years. Similarly, according to Agency for Healthcare Research and Quality, more than 790,000 knee replacements are performed each year in the U.S. In order to keep pace with these growing number of orthopaedic surgeries, hospitals and clinics are expanding their facilities. For instance, in September 2018 ST. Francis Hospital and Medical Center of Hartford announced an investment of US$ 26.2 million to expand their orthopaedic and pain ambulatory surgery center. Thus, the rise in number of orthopaedic surgeries are propelling the demand across global medical radiography market. 

Despite of the of the multitude benefits offered by the medical radiography systems, the cancer associated risks in radiography are hindering the growth of global radiography market. Exposure to improper dosage of X-rays during radiography diagnosis leads to radiation-induced cancer or cataracts and is even known to cause  disturbance in the growth and development of an embryo or fetus in a pregnant patient or one of childbearing age. This is causing concerns amongst healthcare professionals and patients. Technical developments in X-ray imaging aimed at improving diagnostic certainty and reduce the radiation dose are anticipated to overcome these challenges. Also, governments are introducing guidelines to assure safety of patient during radiography. For instance, the Radiation Protection Recommendations regulation of the U.S Food and Drug Administration agency prescribes quality assurance programs in diagnostic radiology. Thus, technological advancements to control the dosage of X-rays coupled with the government regulations are anticipated to overcome the safety concerns in global medical radiography market.

The traditional radiography equipment are witnessing rapid transformations due to incorporation of digital capabilities. The emergence of digital radiography equipment with improved operability, clearer images and ease of data sharing is replacing the conventional film based radiography systems. However, the high equipment cost of these systems is restraining their adoption by small hospitals and clinics. On realizing this growth restrains, medical equipment manufacturers have introduced retrofit kits to transform the conventional radiography equipment to latest digital machines. Kiran (Trivitron Healthcare), Allengers, Carestream Health and many other companies provide digital radiography retrofit kits, which render advanced digital capabilities to analog X-ray diagnostic machines at minimal costs. Thus, the introduction of cost-effective solutions to improve the capabilities of conventional radiography systems are expected to propel the growth of global medical radiography market in future years.

The recent outbreak of COVID-19 pandemic has infected more than 5.74 million people across continents. This has increased the importance of diagnostics to identify, treat and contain the spread of virus. X-ray imaging is used by many medical professionals to predict the severity of COVID-19 infection and to distinguish between COVID-19 and other respiratory infections. It captures the changes in the lungs of COVID-19 patients and provides results in real-time. Thus, the recent outbreak of coronavirus pandemic is anticipated to positively impact the growth of global medical radiography market.

Global Medical Radiography Market Segmentation:

Global Medical Radiography Market By Component (Equipment (Digital Radiography (DR Detectors, Image Processing & Console, Others), Computed Radiography), Services (Training & Education, Project And Remote Management Services, Maintenance & Support Services, Others)); By Functionality (Portable/Mobile Radiography Systems, Stationery/Fixed Radiography Systems (Ceiling Mounted, Floor-Mounted)); By Application (Dental Examination, Verification Of Placement Of Surgical Markers, Mammography, Orthopedic Evaluations, Spot Film Or Static Recording During Fluoroscopy, Planning Of Radiation Therapy Treatment, Chiropractic Examinations, Others); By Facility Size (Small And Medium Size Facility, Large Size Facility); By Specialty Type (Pediatrics, Veterinary, Chiropractic, Otolaryngology, Orthopedic, Others); By End Users (Hospitals, Clinics, Diagnostic Imaging Centers, Mobile Medical Facilities, Urgent Care Centers, Others); By Region (U.S., Canada, Mexico, Rest Of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest Of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest Of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest Of Middle East & Africa, Brazil, Argentina, Rest Of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2022 – 2030

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