The X-ray Tube market was valued at USD 3020. 1 million in 2021 and is expected to reach USD 3,8992. 2 million by 2027, growing at a CAGR of 4. 19% over the forecast period 2022 - 2027. Key Highlights
New York, July 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "X-ray Tube Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06290939/?utm_source=GNW Currently, X-rays have found applications in security, metallurgy, non-destructive testing, and other industrial applications. Technological advancement is one of the primary factors driving the growth of the market studied. The application of X-rays has drastically expanded beyond the field of medicine over the past few decades. With electronic innovations, these systems’ sizes have significantly decreased. With the availability of compact systems, X-ray machines are now used in various fields, such as airport security, baggage scanning, and metallurgical applications. In addition, increasing medical cases and accidental injuries worldwide are influencing the growth of the market studied. For instance, in December 2021, Excillum launched its latest development – a new generation of high-resolution X-ray tubes. The Excillum NanoTube N3, initially available in 3 different versions, enables the world’s best resolution up to 160 kV. The NanoTube N3 targets advanced industries’ metrology and non-destructive testing (NDT) components, e.g., automotive, aerospace, medical, electronics, and semiconductor back end. Medical and healthcare applications are highly benefitting from the current pandemic scenario. Several associations and governing bodies globally have established CT and X-ray imaging as a primary mode of examination to check a patient for the presence of COVID-19-related symptoms. According to Siemens Healthineers, the studies conducted by multiple researchers found that the X-ray examinations have lower sensitivity for COVID-19-related lung shadowing of 25% to 69%. In the near future, the high-demand regions, such as Asia-Pacific and North America, are expected to revise their safety regulations, leading to stringent rules and industrial standards. This scenario also makes it hard for new players to enter the market studied. Therefore, stringent regulations and validatory guidelines restrain the market’s growth. Key Market Trends Healthcare Sector Holds the Largest Market Share In the medical sector, dental applications that require smaller and shorter scans are found to be using stationary x-ray tubes for imaging. According to the Listerine Professional, oral conditions are the most faced health issues affecting 3.9 billion people on an average globally. Therefore, in the dental sector, the primary demand for x-ray imaging, which does not require rotating anode x-ray tubes, is due to stationary tubes that are suitable for imaging purposes. With the technological advancements and the increasing adoption of technology in the healthcare industry, many advances were seen in the medical radiation in the equipment and techniques. One of the significant advancements for interventional x-ray over the past few years has been an increased focus on core and supporting technologies to provide high-quality, high-resolution images without a corresponding increase in radiation dose. This has been a key driver behind technology advancements, such as Siemens’ Artis Q, Philips’ ClarityIQ technology, and Q.zen technology, GE Healthcare’s Image Guided Systems (IGS), and Toshiba’s Infinix Elite product line. The medical devices industry is witnessing a growth in the number of imaging and diagnostic tests performed every year owing to various factors, such as increasing focus on radiological diagnostic tests, rising chronic disease burden, and introduction of efficient X-ray devices through consolidation and mergers in the medical devices market. According to the UN data of World Population Prospects, the number of people of age above 65 years is steadily increasing. By 2050, the world’s population aged 60 years and above is predicted to reach 2 billion, of which 80% may live in low- and middle-income countries. Hence, the rising geriatric population and the increasing number of orthopedic and cardiovascular procedures may further drive the adoption of X-ray tubes in medical applications. The x-rays are generated using the x-ray tubes, and in the pharmaceutical industry, these tubes are used with tungsten, especially when softer x-rays are required in mammography applications. The specialized x-ray sources used in the research are known as synchrotron radiation, generated by the radiation process, particle accelerators in which high magnitude x-ray tubes are used. North America Accounts for a Significant Share The United States is witnessing an increase in the geriatric population as well as a surge in the incidence of chronic diseases because of sedentary lifestyles and unhealthy eating habits. According to census data, as of July 2021, 16.5% of the US population of 328 million people, i.e., 54 million, were over the age of 65. It is estimated that by 2030, the number will increase to 74 million. The number of people over the age of 85 is growing even faster. Moreover, rising medical infrastructure developments with the increase in medical facilities are expected to propel the demand for the medical X-ray tube market in America. For instance, EOS imaging, a medical device company, has installed its fourth EOS system at the Hospital for Special Surgery (HSS) in New York City, United States, which offers low-dose full-body, stereo-radiographic images of a patient in a functional position. Additionally, in the United States alone, over 30% of emergency department visits by the chronically ill are preventable, resulting in avoidable costs of over USD 9 billion each year. The rise in chronic diseases is pushing up the importance of screening techniques for the right and timely treatment and care. X-ray continues to play a vital role in chronic disease diagnosis, like diseases of the exocrine pancreas, lungs, bones, and abdomen. Also, the X-ray tube is being deployed significantly in the region for inspection purposes. According to the Drug Enforcement Administration (DFA), most of the fentanyl, heroin, and methamphetamine are trafficked across the southwest border. It is primarily smuggled into the United States through legal ports of entry, i.e., it comes within feet of the Customs and Border Protection (CBP) officer. Additionally, CBP has acknowledged that it currently scans only 2% of all private passenger vehicles and 16% of commercial vehicles at land borders. Airport security is also a major user of X-ray systems. For instance, in September 2021, the TSA awarded an order worth USD 198 million to Analogic Corporation for the procurement of mid-sized computed tomography X-ray systems for TSA checkpoints. Competitive Landscape The presence of major players governs competitive rivalry in this industry. This market can attain a sustainable competitive advantage through innovation, owing to the growing need for differentiated products. For instance, in January 2022, Fortress Technology launched a new x-ray tube named raptor for food packs. The Raptor X-Ray inspects and rejects packaged meat, cheese, chilled, and confectionery products with metal, glass, wood, rubber, high-density plastic, stone, and calcified bones. May 2022 - Aidoc, a provider of healthcare AI solutions, announced an agreement with Gleamer, a French MedTech company focused on using AI technology in the practice of radiology, to integrate Gleamer’s BoneViewsolution for X-rays. The onboarding of Gleamer’s AI BoneViewX-ray solution aimed to expand Aidoc’s venture into the X-ray modality. March 2022 - Canon Medical Systems Corporation announced that it entered an agreement to acquire Nordisk Røntgen Teknik A/S, a Danish company, with advanced technology for the development and manufacture of diagnostic X-ray systems. Through this acquisition, Canon Medical opened upaccess to European-based technology, development, and manufacturing for advanced imaging solutions. January 2022 - Malvern acquired CreoptixAG in order to strengthen and expand its affinity offering. Creoptixis a kinetics measuring company that develops and manufactures analytical equipment, software, and consumables. By leveraging Malvern Panalytical’senormous client base, the partnership presents an exciting potential to quickly scale Creoptix’ssuperior technology in terms of speed and sensitivity. Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Read the full report: https://www.reportlinker.com/p06290939/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________
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