The global X-ray Tube market was valued at 1243.51 million US$ in 2018 and will reach 1724.77 million US$ by the end of 2025, growing at a CAGR of 4.73% during 2019-2025.
— The global x-ray tube market is anticipated to register a moderate CAGR of 4.73% over the forecast period of 2019-2025. Innovations in electronics that have led to reduction in the size of the x-ray tubes have significantly contributed the adoption of x-rays in diagnostics. X-ray machines are now used in various fields such as airport security, metallurgical applications, and baggage scanning due to the availability of compact systems. Besides, growing medical emergencies and admissions across the world have also spiked the demand for x-ray tubes.
The latest report published by QY Research, titled, “Global X-ray Tube Sales Market Report 2019”, states that the market was valued at US$1243.51 mn in 2018 and is likely to grow at US$1724.77 mn by 2025. The report includes current, historical, and estimated market size of the market from the standpoint of both volume and value. The report also includes an in-depth analysis of market shares and the strategies adopted by the leading manufacturers in the global x-ray tube market.
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Growing Adoption of Technology in the Healthcare Sector Will Drive Market Growth
The global x-ray tube market will witness a remarkable growth due to rising occurrences of chronic diseases related to cardiovascular ailments and cancer. This has increased the emphasis on early diagnosis of diseases, which is driving the demand for diagnostic tests. The market is also expected to benefit with introduction of advanced and innovative products and technologies in the market such as computed tomography (CT) imaging. The growth of dental radiography is also expected to boost the demand for x-ray tubes
Medical Segment Will Be the Leading Segment By 2025
The global x-ray tube market is segmented into product type and applications. The product type segment is segmented into a rotating anode x-ray tube and a stationary anode x-ray tube. The application segment includes industrial and medical. The medical segment will drive the market growth of x-ray tubes owing to various technological advancements to diagnose diseases.
North America to Dominate the Global X-Ray Tube Market
North America will dominate the global market for x-ray tubes due to growing technological advancements and increasing awareness and implementation of early diagnosis and preventive care methods in this region. Asia Pacific is also estimated to drive the x-ray tubes market due to accelerating healthcare industry and rising research and development activities.
Some of the key operating players in the global x-ray tube market are Keyway Electron, Varex Imaging (Varian), Kailong Medical, Canon Electron (Toshiba), Gulmay, Dunlee, Sandt, Siemens, Oxford Instruments, Comet Technologies, Hangzhou Wandong, and IAE. The players with prominent shares in the global x-ray tubes market are focusing on expanding their consumer base across the globe. The manufacturers are adopting strategic collaborative initiatives to increase their profitability and market share. The companies are also adopting acquisition strategies to attain a leadership position in the market.
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