08.11.14
The U.S. 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 percent, according to research and consulting firm GlobalData.
The United States is the world’s largest market for diagnostic X-ray systems, according to the London, United Kingdom-based firm. The United States accounted for 29.4 percentof global revenues in 2013. Despite the emergence of China as a growing powerhouse healthcare technology consumer, the United States will continue to hold the leading share, with 27.9 percent by 2020, analyst predict.
“As reimbursement for X-ray examinations currently incurs lower physician fees than computerized tomography and magnetic resonance imaging scans in the U.S., there is less financial incentive for physicians to perform X-ray exams,” said Niharika Midha, GlobalData’s analyst covering diagnostic imaging. “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 U.S. market will witness a trend of declining analog system sales and increasing revenue from digital X-ray equipment, which GlobalData analyst attribute to high healthcare spending combined with the willingness to pay for more advanced machines.
“Unit sales of analog X-ray systems in the United States will experience a noteworthy decline at a negative CAGR of 9 percent, while the market value of direct radiography systems will increase at a CAGR of 7 percent over the forecast period,” said Midha “As the majority of U.S. 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.”
The United States is the world’s largest market for diagnostic X-ray systems, according to the London, United Kingdom-based firm. The United States accounted for 29.4 percentof global revenues in 2013. Despite the emergence of China as a growing powerhouse healthcare technology consumer, the United States will continue to hold the leading share, with 27.9 percent by 2020, analyst predict.
“As reimbursement for X-ray examinations currently incurs lower physician fees than computerized tomography and magnetic resonance imaging scans in the U.S., there is less financial incentive for physicians to perform X-ray exams,” said Niharika Midha, GlobalData’s analyst covering diagnostic imaging. “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 U.S. market will witness a trend of declining analog system sales and increasing revenue from digital X-ray equipment, which GlobalData analyst attribute to high healthcare spending combined with the willingness to pay for more advanced machines.
“Unit sales of analog X-ray systems in the United States will experience a noteworthy decline at a negative CAGR of 9 percent, while the market value of direct radiography systems will increase at a CAGR of 7 percent over the forecast period,” said Midha “As the majority of U.S. 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.”