The US diagnostic X-ray systems market value will grow from $694 million in 2012 to approximately $1.1 billion 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 computerised 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.
