Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSIntroduction to Diagnostic X-rays System
X-rays are a form of high energy light ray, they are a type of radiation correspondingly called electromagnetic waves. X-rays are invisible to naked human eyes and these are estimated to be harmful to humans when they are exposed to the high intensity of radiation. They are created when the negatively charged particles are suddenly decelerated upon collision with the metal target. X-rays were discovered by German physicist Wilhelm Roentgen in 1895, who was later awarded the Nobel Prize for his discovery.
Diagnostic X-ray, or radiography, is a special method to create images of the internal organs of your body. A machine focuses a required amount of radiating electromagnetic waves on the part of the body which is to be examined. The X-rays then pass through the body, creating shades of black and white of different intensities, as different tissues and bones absorb different amounts of radiation. Diagnostic X-Rays system is an effective, painless, non-invasive way to diagnose health problems such as fractures, pneumonia, cancer cells, and other abnormalities within the body.
Market Size and Forecast
The global diagnostic X-rays systems market is anticipated to register a robust CAGR over the forecast period, i.e. 2020-2028. Significant rise in R&D activities and various technological advancements in the healthcare sector, along with the rise in several approvals regarding healthcare diagnostic products are anticipated to boost the market growth. Additionally, rise in demand for better imaging techniques and the application of radiography imaging products has been observed, owing to the recent surge in the incidence of chronic diseases such as Alzheimer’s disease, arthritis, cancer, COPD, cystic fibrosis, and diabetes. This is an instance of the positive impact rendering factors driving the market growth during the forecast period.
Major end-users are adopting new and developed imaging techniques subsequently and key market players are moving towards the growth of the diagnostic X-rays system market. This integration is expected to introduce high-resolution imaging technologies along with advanced and effective X-rays devices that can substitute conventional ones and boost market growth during the forecast period. Improved quality of image output is expected to enhance the diagnosis accuracy in the early stages of several diseases. The accurate, efficient, and effective diagnosis can help in the treatment of various life-threatening diseases such as cancer, diabetes, and various cardiovascular diseases. This major advantage can be attributed to result in a significantly positive impact on market growth. Additionally, developing economies such as India and China are increasing are focusing on providing cost-effective and accurate medical imaging solutions and diagnostics by adapting various new imaging technologies. CLICK TO DOWNLOAD FREE SAMPLE REPORT
Growth Drivers
Technological advancements in diagnostic imaging in developed countries
Technological advancements and substantial transformations in the medical industry are providing better and cost-effective solutions. The digital imaging process has transformed the medical field by offering better quality images, faster processing, and cost-effective advantages over conventional X-rays systems. High-tech, accurate, and more affordable diagnostic X-rays systems developed by key players will further boost the market growth. These are some key factors that are projected to raise the demand for diagnostic X-rays systems in the coming years.
Rising prevalence of injuries occurring worldwide
In 2017, about 2.8 million nonfatal injuries were recorded according to the Survey of Occupational Injuries and Illnesses (SOII).
Rising numbers of injuries, accidents, severe muscle damages, bone fractures, and other muscle damages worldwide are estimated to drive the diagnostic devices and equipment market, especially the X-rays systems devices market. With the increase in number of accidents and injuries globally, the number of medical diagnostic services such as blood tests, and X-rays has further increased. Such a factor is anticipated to drive the growth of the diagnostic X-rays market.
The growing number of diagnostic imaging procedures
The growing cases of chronic diseases such as Alzheimer’s disease, cancer, cystic fibrosis, neurological diseases, and musculoskeletal disorders are predicted to drive the diagnostic X-rays system growth during the forecast period. Increasing patient preference towards X-rays for their non-invasive and painless diagnosis are factors further anticipated to increase the demand for diagnostic imaging procedures. Moreover, the effective diagnostic X-ray system for easy and accurate imaging outputs will boost the market growth in the coming future.
Restraints
Risk of high radiation exposure
According to a worldwide survey in 2015 done by NCBI on radiation overexposure accidents, it was found that around 2390 people were overexposed to radiation, out of which 190 died.
The risk of high radiation exposure and its hazardous effect is estimated to hinder the diagnostic X-rays systems' market growth. The use of electromagnetic waves in diagnostic X-ray imaging procedures releases particles called 'ionizing radiation'. This radiation coming from X-ray machines carry major health hazards issues. Even low doses of radiation, in the long run, can cause cancer. Such a factor is estimated to hinder the growth of the global diagnostic X-ray system market during the forecast period.
High cost associated with the installation of medical imaging modalities
Sustainable advanced technologies come at a cost. Owing to the high price of both installation and products, the market growth is anticipated to be restricted tremendously, thereby affecting the requirement for a diagnostic X-ray system.
Market Segmentation
In-depth analysis of the global diagnostic X-rays system market includes the following segments:
By Product Type:
By Component Type:
By Technology Type:
By Portability Type:
By End-User Type:
By Region Type:
On the basis of regional analysis, the diagnostic X-rays system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
Based on region segment, the market in North America is expected to hold the largest market share for the diagnostic X-ray system market owing to the high adoption of technology and demand for improved infrastructure in healthcare facilities along with increasing demand for diagnostic equipment in the region. Additionally, a strong foothold of major industry players in North America focusing on research & development and innovative product launch are anticipated to positively impact market growth. The market in Asia Pacific is anticipated to observe the highest growth rate over the forecast period mainly owing to the surge in numbers of chronic disease patients. The presence of large patient pools in densely populated nations such as India and China, along with the government support to the healthcare industry will act as the primary growth driver in the Asia-Pacific region.
The global diagnostic X-rays system market is further classified on the basis of region as follows:
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