Global Industrial X-ray Market, By Product Type (Instruments, Consumables), Technology (Micro Focus, Minifocus, Nanofocus), End User Application (Material Handling, Academia and Research and Development, Others) – Industry Trends and Forecast to 2029.
Global Industrial X-ray Market Analysis and Size
X-ray inspection technology is not a very new concept. The radiations used in this technology are set to low range for inspection purposes. A wide number of end user industries are increasingly making use of this technology and healthcare industry is one among all of them. Industrial x-rays are used for a wide range of applications by the healthcare industry.
- Data Bridge Market Research analyses that the industrial x-ray market is expected to undergo a CAGR of 7.50% during the forecast period. This indicates that the market value, which was USD 649.63 million in 2021, would rocket up to USD 1,158.58 million by 2029. “Instruments” dominates the application segment of the industrial x-ray market owing to rising number of end user industries especially in the developing economies. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Global Industrial X-ray Market Definition
From the name itself, it is clear that industrial x-ray refers to radiographic technology which is used for the inspection of materials without having to move or damage the material itself. Industrial x-rays are on-destructive methods of inspecting the materials.
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Million, Volumes in Units, Pricing in USD
Product Type (Instruments, Consumables), Technology (Micro Focus, Minifocus, Nanofocus), End User (Automotive, Aerospace, Semiconductors, Electronics, Li-Battery, Academia and Research and Development, Others)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Market Players Covered
Koninklijke Philips N.V (Netherlands), North Star Imaging, Inc. (US), Nikon Metrology NV (Belgium), Nordson DAGE (UK), YXLON International GmbH (Germany), VJ Group, Inc. (US), 3DX-RAY Ltd. (UK), VisiConsult X-ray Systems & Solutions GmbH (Germany), Smiths Detection, Inc. (UK), Mettler-Toledo International Inc. (Switzerland), GENERAL ELECTRIC COMPANY (US), FUJIFILM Holdings Corporation (Japan), Hitachi, Ltd. (Japan), Shimadzu Corporation (Japan), Samsung Medison Co., Ltd. (South Korea), Carestream Health (US), Hologic, Inc. (US), Agfa-Gevaert Group (Beligium), OSI Systems Inc. (US), Smiths Group plc. (Germany)
Industrial X-ray Market Dynamics
- Rising number of surgical procedures
Surging number of surgical procedures calls for the increasing application of medical and surgical devices. This results in the utilization of sterilizing equipment which if otherwise not done, can lead to transmission of bacterial infections. This is therefore, one of the major factors fostering the growth of the market.
- Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the development x-ray systems is also bolstering the market growth rate.
- Growing expenditure for healthcare infrastructure
Increased funding for the development of healthcare infrastructure especially in the developing economies is further carving the way for the growth of the market. Increased number of strategic collaborations and partnerships between the public and private players is propelling growth in the market value.
Furthermore, upsurge in the public-private funding for target research activities, rise in focus on safety standards, rising use of digital x-ray imaging which is environment-friendly and lightens the use of chemicals and proper disposal of film paper and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, rapid growth in the number of older individuals seeking or needing medical support, rising internet penetration rate, and increasing per capita expenditure on health care will further expand the market's growth rate in the future.
Restraints/Challenges Global Industrial X-ray Market
On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities and dearth of awareness in the backward economies are expected to obstruct market growth. Also, lack of favourable reimbursement scenario and technology penetration in the developing economies, high expense of the x-ray machines, presence of poor x-ray quality leading to flawed diagnosis, weak machinery and bad printing quality of X-ray machines and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2022-2029.
This industrial x-ray market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the industrial x-ray market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Industrial X-ray Market
COVID-19 has significantly stimulated the market. This is because of the significant and unprecedented rise in the health issue across the globe arising out of the pandemic. This pandemic fuelled up the demand for medical imaging services from all around the globe. Home care companies and manufacturers all around the globe increased their focus towards the availability of emergency and non-medical support facilities. However, a low revenues were generated by the manufacturers owing to the restrictions on supply chain.
Global Industrial X-ray Market Scope
The industrial x-ray market is segmented on the basis of product type, technology and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
On the basis of product type, the industrial x-ray market is segmented into instruments and consumables. Instruments have further been segmented into manual x-ray devices and fully automated x-ray devices. Consumables have further been segmented into x-ray detectors and x-ray tubes.
- Micro Focus
The industrial x-ray market can is segmented on the basis of technology into microfocus, minifocus and nanofocus.
- Material Handling
- Academia and Research and Development
The end user segment of the industrial x-ray market is segmented into material handling, academia and research and development and others.
Industrial X-ray Market Regional Analysis/Insights
The industrial x-ray market is analysed and market size insights and trends are provided by country, product type, technology and end user as referenced above.
The countries covered in the industrial x-ray market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the industrial x-ray market because of the strong base of healthcare facilities, stringent regulation and implementation of standards mandated by various associations and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, availability of the well-established infrastructure, rapid rise in focus of the manufacturing industry towards industrial radiography in developing economies such as China and India and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The industrial x-ray market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for industrial x-ray market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the industrial x-ray market. The data is available for historic period 2010-2020.
Competitive Landscape and Industrial X-ray Market Share Analysis
The industrial x-ray market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to industrial x-ray market.
Some of the major players operating in the industrial x-ray market are Koninklijke Philips N.V (Netherlands), North Star Imaging, Inc. (US), Nikon Metrology NV (Belgium), Nordson DAGE (UK), YXLON International GmbH (Germany), VJ Group, Inc. (US), 3DX-RAY Ltd. (UK), VisiConsult X-ray Systems & Solutions GmbH (Germany), Smiths Detection, Inc. (UK), Mettler-Toledo International Inc. (Switzerland), GENERAL ELECTRIC COMPANY (US), FUJIFILM Holdings Corporation (Japan), Hitachi, Ltd. (Japan), Shimadzu Corporation (Japan), Samsung Medison Co., Ltd. (South Korea), Carestream Health (US), Hologic, Inc. (US), Agfa-Gevaert Group (Beligium), OSI Systems Inc. (US), Smiths Group plc. (Germany) among others.
Research Methodology : Global Industrial X-ray Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-industrial-x-ray-market
Customization Available : Global Industrial X-ray Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.