Global X-ray Machine Manufacturing Market (2021 to 2026) - Growth, Trends, COVID-19 Impact, and Forecasts - ResearchAndMarkets.com

The "X-ray Machine Manufacturing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The X-ray machine manufacturing market is expected to register a CAGR of 6.8% over the forecast period (2021 - 2026).

Companies Mentioned

• Canon Inc.
• Fujifilm Holdings Corporation
• GE Healthcare
• Hitachi Medical Corporation
• Hologic Inc.
• Philips Healthcare
• Shimadzu Corporation
• Siemens AG

Key Market Trends

Healthcare Sector to Witness a Significant Growth

• The healthcare industry is expected to witness growth in future, owing to the advancements in technology (x-ray detection has evolved to become more safe, effective, and easy to use). In the recent times, the world is moving toward automation. With the developments in Artificial Intelligence in the scenario, the future of x-ray machines is expected to be promising.
• Further, in the developing countries like India, increasing incomes, easier access to high-quality healthcare facilities, and greater awareness of personal health and hygiene are the factors supporting the growth of the healthcare industry.
• Along with that, the greater penetration of health insurance aided the rise in healthcare expenditure. Along with that, with the increasing demand for affordable and quality healthcare, the penetration of health insurance is poised to grow exponentially in the future. The increasing healthcare costs and the burden of new diseases, coupled with low government funding, are helping in increasing the demand for health insurance coverage.
• In addition, the Government of India is planning to increase the public healthcare expenditure by 2.5% of the country's GDP by 2025. This move would also encourage the other emerging economies to increase their expenditures.
• Hence, all the above mentioned factors are expected to help in the growth of the healthcare sector. This factor, in turn, is expected to create an opportunity for the x-ray machine manufacturing market.

Asia-Pacific to Execute the Fastest Growth Rate

• The Asia-Pacific x-ray machine market is expected to witness lucrative growth during the forecast period. The presence of a large patient pool in the densely populated nations, such as India and China, is expected to act as the primary driver in the regional business' growth.
• According to the India Brand Equity Foundation, the hospital industry in India is forecasted to increase to INR 8.6 trillion (USD 132.84 billion) by FY 2022, from INR 4 trillion (USD 61.79 billion) in FY 2017, recording a CAGR of 16-17 %.
• It is also observed that the cost of surgery in India is about one-tenth of that in the United States or Western Europe. The country has also become one of the leading destinations for high-end diagnostic services. With huge capital investments for advanced diagnostic facilities, it is possible to cater to a greater proportion of the population.
• In September 2018, the world's largest government-funded healthcare scheme ("Ayushman Bharat") was launched by the Prime Minister of India. Ayushman Bharat is funded partially by the central government (60%). The remaining (40%) is funded by the state governments.
• All the above factors are expected to help in increasing the healthcare sector in India. This factor is expected to supplement the growth of x-ray machines in the health industry, which in turn, is expected to boost the market for the manufacturers in these regions.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Introduction to Market Drivers and Restraints

4.3 Market Drivers

4.3.1 Rise in Adoption of Digital X-ray Systems

4.3.2 Government Regulations and Investments to Improve Infrastructure

4.4 Market Restraints

4.4.1 High Equipment Cost

4.5 Value Chain / Supply Chain Analysis

4.6 Industry Attractiveness - Porter's Five Force Analysis

5 TECHNOLOGY SNAPSHOT

6 MARKET SEGMENTATION

6.1 By Product Type

6.2 By Technology

6.3 By End-user

6.4 Geography

7 COMPETITIVE LANDSCAPE

7.1 Company Profiles

8 INVESTMENT ANALYSIS

9 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/hcyp3s

View source version on businesswire.com: https://www.businesswire.com/news/home/20211027005886/en/