The global market for digital X-ray is projected to grow at a CAGR of more than 7% from around USD 9 billion in 2020 to over USD 14 billion by 2026, amidst all the opportunities and challenges in a significantly transformed post COVID-19 marketplace.
These are the latest findings of a new market study published by Global Industry Analysts Inc. (San Jose, CA, USA), a market research company.
Based on application, the Orthopedic segment is projected to grow at a CAGR of 8.3% to reach USD 3.3 billion in 2026 while the Cardiovascular segment is expected to register a CAGR of 7.5% for the next seven-year period. The Fluoroscopy segment is estimated to register a CAGR of 6.2% to reach USD 1.4 billion by the year 2026, led mainly by the regional markets of the US, Canada, Japan, China and Europe. These regional markets which accounted for a combined market size of USD 0.68 billion in the year 2020 are projected to reach USD 1 billion by the close of the analysis period.
China, the world`s second largest economy, will remain among the fastest growing in this cluster of regional markets with a CAGR of 11.1% over the analysis period to reach USD 3 billion by 2026. The US digital X-ray market is estimated to be worth USD 2.7 billion in 2021. Among the other noteworthy geographical markets for digital X-ray are Japan and Canada which are forecasted to register a CAGR of 3.9% and 6.5%, respectively over the analysis period. Within Europe, Germany is projected to grow at a CAGR of approximately 4.7% for the next seven-year period.
Global Industry Analysts Inc.