United States to Lead Diagnostic X-Ray Systems Market by 2020

Reportstack's latest report on Diagnostic X-ray Imaging forecasts that US to lead the market and China’s Diagnostic X-Ray Imaging Market Value to reach $1 Billion by 2020.

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United States (PRWEB) August 06, 2014

Diagnostic X-ray Imaging Market- Global Analysis and Market Forecasts is a new pharma market research report announced by Reportstack. This report provides an analysis of the diagnostic X-ray imaging market in the US, France, Germany, Italy, Spain and the UK, as well as some of the Asia-Pacific countries (Australia, China, India and Japan). It identifies the unmet needs in this market, and also discusses the future of diagnostic X-ray imaging in the face of rapid technological advancements and other advanced imaging modalities.

According to the report, the US diagnostic X-ray systems market value will grow from $694 million in 2012 to approximately $1.1 billion by 2020, at a moderate Compound Annual Growth Rate (CAGR) of 6.1%, according to research and consulting firm GlobalData. The report states that the US is the world’s largest market for diagnostic X-ray systems, accounting for 29.4% of global revenues in 2013. Despite the emergence of China, it will continue to hold the leading share, with 27.9% by 2020.

The Analyst covering Diagnostic Imaging, says: “As reimbursement for X-ray examinations currently incurs lower physician fees than computerized tomography and magnetic resonance imaging scans in the US, there is less financial incentive for physicians to perform X-ray exams. “On the other hand, the implementation of healthcare reform means that cuts in reimbursement for the advanced imaging modalities could potentially have a positive impact on the use of X-ray procedures, and therefore on the sale of systems.”

The United States market will witness a trend of declining analog system sales and increasing revenue from digital X-ray equipment, which GlobalData attributes to high healthcare spending combined with the willingness to pay for more advanced machines. The analyst explains: “Unit sales of analog X-ray systems in the US will experience a noteworthy decline at a negative CAGR of 9%, while the market value of direct radiography systems will increase at a CAGR of 7% over the forecast period.

“As the majority of US sales will be generated by timely replacements of X-ray systems, the improving economic climate will play a key role in accelerating market revenue growth.”

The key company and product profiles mentioned in this report are AeroDR X70 (Konica Minolta), FCR Profect One Plus/CS Plus (Fujifilm Holdings), ddRFormula (Swissray International), DigitalDiagnost (Philips Healthcare), Digix (Allengers Medical Systems), DirectView (Carestream Health), Discovery XR656 (GE Healthcare), DX-D 100 (Agfa Healthcare), Mobilett XP (Siemens Healthcare), Proteus XR/a (GE Healthcare), Radrex-i (Toshiba Medical Systems) and Ysio (Siemens Healthcare).

The pipeline assessment of the following companies is mentioned in this report: EssentialMed, Tribogenics, Radius Diagnostics, NextRay, MIT, University of Waterloo, Agfa Healthcare, Allengers Medical Systems, Canon, Carestream Health, China Resources Wandong Medical Equipment, Fujifilm Holdings, GE Healthcare, General Medical Merate, Hitachi Medical, Konica Minolta, Mindray Medical International, Neusoft Medical, Philips Healthcare , Samsung Electronics, Shimadzu Corporation, Swissray International, Siemens Healthcare and Toshiba Medical Systems. More details and table of contents can be found by visiting Diagnostic X-ray Imaging Market Forecasts report.

About Reportstack:

Reportstack is one of the leading distributors of market research reports in the world today. Reportstack provides access to over 50,000 company profiles and their strategic information like SWOT analysis, pipeline review reports, chemical industry reports, deals and partnerships analysis, merger & acquisition activity and new product launches. Reportstack is also a leader in the field of consumer retail research, pharma and healthcare market research reports.

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Reportstack Market Research
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