Fact.MR has recently published a study on the X-ray tube market, which provides a 10-year projection from 2023 to 2033. The report covers key market-shaping aspects, including drivers, constraints, and opportunities, and segments the market by product type, application, modality, end user, and region. According to the report, the global X-ray tube industry was valued at US$ 2.8 billion in 2022 and is projected to grow at a CAGR of 4.5% over the next five years. The increasing scope of X-ray systems in various industry verticals such as security, food, manufacturing, aerospace & defense, and healthcare is expected to drive market growth. Manufacturers are launching new and innovative products to maximize their sales potential. For instance, Fortress Technology has launched a new X-ray tube for the food industry capable of inspecting food packs for the presence of glass, metal, and other unwanted materials.
Some key takeaways from the report include that the global X-ray tube market is estimated to reach US$ 3.5 billion by the end of 2027 and is slated to exhibit expansion at a CAGR of 4.5% by 2027. Factors positively impacting X-ray tube sales include:
- The growing geriatric population.
- Rising demand for early diagnostics.
- Rapid technological advancements.
- Increasing demand for non-destructive testing.
- The prevalence of chronic diseases.
However, the increasing popularity of alternative imaging techniques and stringent regulatory mandates are expected to hinder market potential. The report also provides information on the competitive landscape, with X-ray tube manufacturers focusing on expanding their business scope by increasing their sales potential. Mergers, collaborations, acquisitions, and partnerships are also expected to be highly popular among X-ray tube suppliers over the years to come.
