by Overview:
X-ray machine manufacturing involves the production of medical devices that use X-rays to create images of the inside of objects, mainly for diagnostic purposes in healthcare. The process typically involves several key steps. First, design and engineering teams create detailed specifications for the machine’s components and functionality. Then, specialized parts like X-ray tubes, detectors, and control systems are sourced or developed in-house. X-ray machine manufacturing requires a blend of electronics, mechanics, and medical knowledge, demanding skilled engineers, technicians, and quality assurance professionals. Advancements in technology have led to the development of digital X-ray systems, enhancing image quality and patient safety. Manufacturers must stay updated with the latest innovations and regulations to deliver reliable and high-quality medical equipment.
The global X-Ray Machine Manufacturing Market was valued at US$ 15.23 Billion in 2022 and is forecast to reach a value of US$ 23.82 Billion by 2030 at a CAGR of 5.8% between 2023 and 2030.
Market Dynamics:
Growing product approvals are estimated to augment the growth of the global market during the forecast period. For instance, GE Healthcare gained clearance from the US FDA, for its artificial intelligence (AI) algorithm, in November 2021. The AI algorithms will help healthcare professionals in evaluating Endotracheal Tube (ETT) placements. Moreover, increasing initial investment and operational costs and strict regulations and safety concerns are anticipated to restrain the growth of the global X-Ray Machine Manufacturing Market during the forecast period.
Impact of COVID-19:
The pandemic was first reported in 2019 in China. The pandemic affected the growth of several sectors globally. The pandemic had a significant impact on the growth of several sectors across the world. Manufacturing activities in sectors like automobiles, semiconductors, electronics, and many more were halted. This led to a decrease in demand for various products. The healthcare sector was also affected during the pandemic. There was a huge demand for various medical equipment, skilled professionals, and drugs. As the number of COVID-19 patients was increasing on a daily basis, the demand for X-ray machines also increased. This had a positive impact on the growth of the global X-Ray Machine Manufacturing Market.
Key Takeaways:
The global X-Ray Machine Manufacturing Market is expected to witness high growth, exhibiting a CAGR of 7.8 % over the forecast period, due to increasing business expansion by key players. For instance, the largest healthcare provider in the U.S., Intermountain Healthcare declared the launch of a stand-alone outpatient imaging center Tellica Imaging, in September 2021.
North America is anticipated to witness significant growth in the global X-Ray Machine Manufacturing Market during the forecast period, due to the growing adoption of modern technology and increasing healthcare infrastructure.
Key players operating in the global X-Ray Machine Manufacturing Market are AGFA, Koninklijke Philips N.V., New Medical Imaging, Siemens Healthineers AG, Hologic, Inc, GE Healthcare, Mindray Medical International Limited, Canon Medical Systems, Carestream, Shimadzu Corporation, and FUJIFILM SonoSite, Inc.
