The global medical x-ray generator market is slated to reach $2.07 billion by 2024, according to a new report by Grand View Research. The unprecedented shift in lifestyle-associated habits, coupled with the increasing prevalence of chronic diseases, is responsible for the rise in demand for accurate diagnostic tools, which is presumed to bolster the market growth.
In addition, the global geriatric population base that is highly susceptible toward developing these chronic diseases is anticipated to impel the demand for high-resolution imaging systems. This requirement is effectively addressed by use of the medical x-ray generators, thus presenting the market with high growth potential throughout the forecast period.
Furthermore, technological advancements, such as modification of the design of computer-controlled x-ray generator interfaces with imaging systems, results in better synchronization of the overall imaging system with x-ray generators. This has led to the deployment of medical x-ray generators in fluoroscopy, radiography, and angiography, thus widening the potential for growth during the forecast period.
What’s more, stationary medical x-ray generators accounted for more than 68% of the product segment in 2015. The dominant share can be attributed to low costs, high stability, and durability associated with the device, which is responsible for the high adoption rate in hospital settings.
According to Grand View Research’s report, North America held more than 30% of the overall medical x-ray generator market in 2015—a fact largely attributable to the presence of patient-safety-conscious regulatory authorities throughout the continent. Furthermore, frequent product launch by US companies, such as NY-based Spellman High Voltage Electronics Corp., are buoying North America’s share of the global medical x-ray generator market.
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