Market Trends of Medical X-Ray Films Industry
This section covers the major market trends shaping the Medical X-ray Films Market according to our research experts:
Diagnostic Centers Segment is Expected to Register a Significant Growth
While the market landscape for X-ray equipment market is defined by established players, such as GE and Fujifilm, the X-ray film market is fragmented with a large number of global and local players in each region. Major players are investing in emerging countries to gain a strong foothold on the market.
For instance, in 2018, Dalian Wanda Group Co. Ltd announced to invest USD 10 billion in a health park in China. This investment is expected to be done after the government eases the norms for FDI in the Chinese private healthcare sector. However, the growing collaboration between developing and developed economies in the diagnostic industry is expected to increase the number of diagnostic centers, which is further estimated to affect the market studied positively.
Asia-Pacific Region is Expected to Have Highest Growth
Asia-Pacific still relies on traditional X-ray solutions significantly. Due to the region’s increasing population and the number of patients suffering from ailments, who should be diagnosed or managed through the use of CT, the use of X-rays is on the rise. This growing pool of patients has led to the high demand for medical imaging. In the Asia-Pacific region, hospitals play a crucial role in medical diagnostics. In China, the number of hospitals is on the rise. The National Bureau of Statistics of China reported an increase in the number of hospitals in the country, from 23,170 hospitals in 2012 to 29,140 hospitals in 2016.
Moreover, in India, according to the World Bank, 77% of the healthcare industry was occupied by hospitals and 3% by the diagnostic centers in 2016. Thus, the region still has a high dependency on hospitals for diagnostics and medical imaging solutions. The American Cancer Society reported a huge rise in breast cancer cases in the country, from 192,370 breast cancer cases in 2008 to 266,120 cases in 2018. With this, death toll from breast cancer increased from 40,170 deaths in 2009 to 40,920 deaths by the end of 2018.
The country, however, is tackling this concern by initiating programs, such as the National Cancer Screening Programme of 2016, which made screening for oral, breast, and cervical cancers mandatory in people over the age of 30 in 100 districts of India before the program expands to other areas.
