Paris, March 14, 2023 (GLOBE NEWSWIRE) — A 10-year projection from 2023 to 2033 is provided in Fact.MR’s recent study on the X-ray tubes market. Other details include significant market-shaping aspects including drivers, constraints, and opportunities. The market is segmented into product type, modality, application, end user, and region to make the information for clear understanding of key trends.
Fact.MR – A Market Research and Competitive Intelligence Provider: As of 2022, the global X-ray tubes industry accounts for a value of US$ 2.8 billion and is projected to progress at a CAGR of 4.5% over the next five years.
Increasing scope of application of X-ray systems in various industry verticals such as food, manufacturing, security, aerospace & defense, and healthcare is expected to drive market growth over the coming years. Growing use of X-ray-based systems in the healthcare industry and rapid advancements in X-ray technology are also projected to bolster market potential through 2027.
X-ray tube manufacturers are focusing on launching new and innovative products to maximize their sales potential across various industry verticals.
- In January 2022, Fortress Technology, a leading name in the metal detection systems industry, announced the launch of its new X-ray tubes for the food industry. The Raptor X-ray is capable of inspecting food packs for the presence of metal, glass, and other unwanted materials.
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Key Takeaways from Market Study
- Currently, the global X-ray tubes market enjoys a US$ 2.8 billion value.
- By the end of 2027, the X-ray tubes market is estimated to reach US$ 3.5 billion.
- X-ray tubes market is slated to exhibit expansion at a CAGR of 4.5% by 2027.
- Growing geriatric population, rising demand for early diagnostics, rapid technological advancements, increasing demand for non-destructive testing, and prevalence of chronic diseases are factors positively impacting X-ray tube sales.
- Increasing popularity of alternative imaging techniques and stringent regulatory mandates are expected to have a hindering effect on market potential.
- At present, the U.S. X-ray tubes market stands at a value of US$ 800 million.
- The China X-ray tubes market is anticipated to evolve at a CAGR of 4.9% and account for a market value of US$ 650 million by 2027.
Competitive Landscape
X-ray tube manufacturers are anticipated to focus on expanding their business scope by increasing their sales potential.
- In December 2021, Agfa, a leading name in the imaging industry, announced the launch of its new digital radiography room at RSNA 2021. The VALORY digital radiography (DR) room comes with a ceiling-suspended X-ray tube, choice of generator power, and Iodide detectors to form a reliable and cost-effective imaging solution.
Mergers, acquisitions, collaborations, and partnerships are also expected to be highly popular among X-ray tube suppliers over the years to come.
- In January 2022, Malvern Panalytical, a leading name in the X-ray tubes marketplace, announced the acquisition of Creoptix AG, a bioanalysis sensor organization. This acquisition will help Malvern Panalytical strengthen its business potential and expand its drug discovery capabilities.
- In March 2022, Nordisk Røntgen Teknik A/S, a leading X-ray system manufacturer, was acquired by Canon Medical Systems Corporation. Canon Medical is expected to bolster its position in the European imaging market through this acquisition.
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Key Prominent Players
- Comet Group
- Varex Imaging Corporation
- Shimazdu Corporation
- YXLON International
- Hitachi Ltd.
- Lafco India Scientific Industries
- Malvern Panalytical Ltd.
- Proto Manufacturing
- Toshiba Electron Tubes & Devices Co. Ltd.
- Oxford Instruments PLC
- General Electric Company
- Siemens AG
- Koninklijke Philips NV
- Canon Electron Tubes & Devices Co. Ltd (CANON Inc.)
Winning Strategy
X-ray tube manufacturing companies are anticipated to eye mergers, acquisitions, and collaborations to strengthen their market stance and expand their product portfolios, which will help them gain a competitive edge over other competitors.
A comprehensive assessment of all the key strategies adopted by established market players and start-ups has been profiled in this latest X-ray tubes market survey by Fact.MR, a market research and competitive intelligence provider.
Key Segments Covered in X-ray Tubes Industry Research
- By Product Type :
- Rotating Anode Tubes
- Stationary X-ray Tubes
- By End-user Industry :
- Manufacturing
- Food
- Healthcare
- Aerospace & Defense
- Other End-user Industries
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global X-ray tubes market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.
The study divulges essential insights on the market on the basis of product type (rotating anode tubes, stationary X-ray tubes) and end-user industry (manufacturing, healthcare, food, aerospace & defense, other end-user industries), across five major regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
Key Questions Covered in the Muscle Stimulators Market Report
- What is the projected value of the X-ray tube Industry In 2023?
- At what rate will the global X-ray tube market size grow until 2032?
- Which are the factors hampering the growth in the X-ray tube ?
- Which region is expected to lead in the global X-ray tube market By 2032?
- Which are the factors driving the X-ray tube Industry during the forecast period?
- What is the expected market value of the X-ray tube market during the forecast period?
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