U.S. To Remain World's Leading Diagnostic X-Ray Systems Market By 2020, Says GlobalData

The US diagnostic X-ray systems market value will grow from $694M in 2012 to approximately $1.1B by 2020, at a moderate Compound Annual Growth Rate (CAGR) of 6.1%, according to research and consulting firm GlobalData.

The company’s 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.

Niharika Midha, MSc, GlobalData’s 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 US 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.

Midha 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.”

*MediPoint: Diagnostic X-ray Imaging - Global Analysis and Market Forecasts
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. This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.

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