Dublin, Dec. 11, 2020 (GLOBE NEWSWIRE) — The “X-ray Tube Market – Growth, Trends, Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The X-ray Tube market was valued at USD 2,711 million in 2019 and is expected to reach USD 3,598.4 million by 2025, at a CAGR of 4.7% over the forecast period 2020 – 2025.
With innovations in electronics, the size of the systems has significantly decreased. With the availability of compact systems, X-ray machines are now used in various fields, such as airport security, baggage scanning, metallurgical applications, healthcare diagnostic devices, non-destructive testing, and other industrial applications.
With an increase in medical usage and investment in diagnostic equipment, the demand for X-ray tubes in medical imaging is increasing where further innovations are being done, which in turn drives the growth of the market studied.
Technological advancements in the X-ray tubes’ dimensions, along with new and enhanced imaging techniques based on X-rays, are being introduced in the market. These technological breakthroughs have assisted the development of new X-ray tubes that can make the overall processes more efficient and can significantly enhance accuracy in numerous applications.
In July 2019, Micro-X manufactured a new carbon nanotube X-ray tube for its platform of X-ray products. These CNT-based X-ray tubes are the first and only not to use heated-filament electron emission, reducing size, weight, heat, and power. The total project cost was approximately USD 3 million, including for the development work and new capital equipment.
In same year, it also signed an AUD 10 million deal with the defense company, Thales Group, to develop mobile X-ray products for security purposes. Thales and Micro-X will collaborate on the global sales and support of Micro-X’s counter-terrorism Mobile Backscatter Imager of Improvised Explosive Devices and an airport checkpoint security scanner.
However, the presence of stringent regulations around the world and strict regulations by the FDA for manufacturing and designing X-ray tubes has created additional costs for manufacturers while becoming a barrier for new entrants.
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%.
The X-ray tube market is concentrated due to higher initial investments. It is dominated by a few major players like Siemens AG, Canon Electron Tubes & Devices Co. Ltd (CANON Inc.), Comet Group, Koninklijke Philips NV, and General Electric Company.
These significant players, with a prominent share in the market, are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. However, with technological advancements and product innovations, mid-size to smaller companies are growing their market presence by securing new contracts and tapping new markets.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
4.4 Technology Snapshot
4.4.2 Major Components of X-ray Tube
184.108.40.206 Protective housing
4.5 Market Drivers
4.5.1 Technological Advancements
4.5.2 Increasing Demand for Healthcare Diagnostics
4.6 Market Restraints
4.6.1 Stringent Regulations and Validatory Guidelines
5 MARKET SEGMENTATION
5.1.1 Rotating Anode Tube
5.1.2 Stationary X-Ray Tube
5.2 End-user Industry
5.2.4 Aerospace and Defense
5.2.5 Other End-user Industries
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Varex Imaging Corporation
6.1.2 YXLON International
6.1.3 Lafco India Scientific Industries
6.1.4 Malvern Panalytical Ltd
6.1.5 Brand X-ray Tube Co. Inc.
6.1.6 Oxford Instruments PLC
6.1.7 General Electric Company
6.1.8 Koninklijke Philips NV
6.1.9 Comet Group
6.1.10 Canon Electron Tubes & Devices Co. Ltd (CANON Inc.)
6.1.11 Siemens AG
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/1x6rkm
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