Global Diagnostic X-ray Market Size, Forecast, and Trend Highlights Over 2025-2037
Diagnostic X-ray Market size was valued at USD 13.1 billion in 2024 and is projected to reach USD 24.6 billion by the end of 2037, rising at a CAGR of 6.1% during the forecast period 2025-2037. In 2025, the industry size of the diagnostic X-ray is poised to be evaluated at USD 13.8 billion.
The increasing cases of bone and heart-related chronic ailments across the world are propelling growth in the market. Testifying this, in 2023, the Statistical Office of the European Union recorded a 12.4% annual rise in demand for lung cancer screening in France. On the other hand, the World Health Organization (WHO) reported that more than 2.3 billion medical imaging procedures, including X-rays, were being conducted annually, till 2023. It also mentioned the proportion of musculoskeletal and cardiovascular conditions in this demography of scans to account for over 45.2%. Additionally, the rapidly aging populations in both developed and emerging economies continue to fuel adoption in this field.
The rising cost of manufacturing and service is creating economic pressure on both suppliers and consumers in the market. In this regard, the U.S. Bureau of Labor Statistics revealed that the producer price index (PPI) for diagnostic imaging equipment witnessed an annual 4.3% rise in 2024 since 2020 due to semiconductor shortages and escalating production expenses. Simultaneously, in the same year, the consumer price index (CPI) for radiology services grew at a 3.2% yearly rate, reflecting moderate healthcare inflation, as per the Federal Reserve Economic Data. To mitigate this issue, pioneers are cultivating innovative pathways, such as localized supply chains, for maintaining affordable payers' pricing.
