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Medical X-ray Films Market Size Forecast to Reach $1.0 Billion by 2026

(Publishing-NewsWire.com, January 09, 2022 ) Medical X-ray Films Market Size is forecast to reach $1.0 billion by 2026, at a CAGR of 1.1% during 2021-2026. The increasing occurrences of chronic diseases, coupled with the rising number of diagnostic imaging procedures and significant spending on healthcare across the world, have been instrumental in driving the medical X-ray films market. An increase in number of radiography tests performed in hospitals is one of the major factors pushing the demand for Medical X-ray Film. Moreover X-ray techniques have been useful in the detection treatment of neurological problems, cancer, cardiac diseases, and bone-related problems. This has buoyed the adoption of X-ray equipment, and consequently the use of X-ray films. Further growing development activities by companies are analyzed to drive the Medical X-ray Films industry growth. In 2019, Eastman Kodak Company introduced of the KODAK Industrial X-Ray Films and chemicals for non-destructive testing (NDT). The reintroduction of non-destructive testing X-ray film products highlights Kodak’s ongoing commitment and investment in film. Further increasing adoption of digital X-ray Systems and digital diagnostic imaging will hamper the Medical X-ray Films industry outlook in the forecast period 2021-2026.



Medical X-ray Films Market Segment Analysis - By Type



Double Emulsion segment is growing at a CAGR of 1.4% in the forecast period 2021-2026. Most of these film used in radiography has an emulsion layer on each side of the base so that it can be used with two intensifying screens simultaneously. In addition double emulsion film requires less exposure as compared to single emulsion film. Most of the films, used in the radiography, are the double emulsion films. For the reason of decreasing the patient exposure in the extra-oral radiographies and to optimize the speed, the film-screens that usually have two emulsions are widely used. Further, the double emulsion can amplify the speed twice of that could be attain by the single emulsion film and results in decreasing the exposure and patient dose. Double emulsion film usually used for taking tomograms requires less exposure than single emulsion film; on the other hand, the latter provides more sharpness and spatial resolution. Hence these benefits are analysed to drive the growth rate of the Medical X-ray Films market in the forecast period 2021-2026.



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Medical X-ray Films Market Segment Analysis - By End User



Diagnostic Centers in Medical X-ray Films market is expected to witness a highest CAGR of 1.5% the forecast period. An aging population across the world that is more prone to chronic diseases and ailments is expected to further drive industry growth. The increasing importance of diagnosis well in advance, coupled with a rise in government spending in healthcare that has reflected in the increasing shipments of medical diagnostic equipment, is expected to positively affect the market growth. The X-ray equipment market has held the largest share of the overall medical diagnostics, which has been a significant driver for the X-ray film market and has been buoyed by its usage in mammography, veterinary, and dental applications. Major players are investing in emerging countries to gain a strong foothold on the market. For instance, in 2019, Dalian Wanda Group Co. Ltd announced to invest $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. Similarly, in 2019, Neuberg Diagnostics, an alliance of diagnostic companies, has firmed up plans to expand in West Asia and across states within India. Hence these developments and expansions are further estimated to affect the Medical X-ray Films market share positively.



Medical X-ray Films Market Segment Analysis - By Geography



Medical X-ray Films market in Asia-Pacific region held significant market share of 36.5% in 2020, the move toward digital radiography is slow in the region when compared to other regions. This is because of the reliance on x-ray radiography to diagnose the ailment and diseases of the internal body parts. The emerging economies of Brazil, Turkey, India, and China have been among the largest adopters of analog X-ray equipment. While, these countries have been well informed of the newest digital equipment, yet a majority of the hospitals have been reluctant to update their existing equipment, owing to the capital investment already made. Furthermore, the lack of skilled personnel to use and manage digital X-ray equipment has also hindered their adoption in these regions. Thus, owing to the slower adoption of digital radiography, the Medical X-ray Films industry in APAC is expected to witness the fastest CAGR, over the forecast period.



Medical X-ray Films Market Drivers



Continued Adoption of Analogue System



The continued adoption of traditional X-ray equipment in developing economies will drive the Medical X-ray Films Market in the forecast period. A new digital X-ray machine costs between $0.2-0.25 million. However, high-cost associated with the installation of medical imaging systems and increased risk of exposure to high radiation among patients are expected to hinder the market for X-ray medical diagnosis. Further the emerging economies of Brazil, Turkey, India, and China have been among the largest adopters of analog X-ray equipment. While, these countries have been well informed of the newest digital equipment, yet a majority of the hospitals have been reluctant to update their existing equipment, owing to the capital investment already made. Furthermore, the lack of skilled personnel to use and manage digital X-ray equipment has also hindered their adoption in these regions.



Slow adoption of Digital X-Ray in Dental Industry drive the market growth



Increasing adoption of cosmetic dentistry, the introduction of innovative products, and the rising prevalence of dental disorders are driving the market. Due to the increasing prevalence of dental caries and periodontal diseases, severe dental impairment has been reported in developed and developing countries. According to 2019 Centres for Disease Control and Prevention (CDC) statistics, 92% of the U.S. population aged 20-64 years reported dental caries. In addition, periodontal diseases are considered a public health concern with a rise in their prevalence among adolescents as well as adults. The various risk factors associated with this disorder include poor oral hygiene, diabetes, stress, and smoking. Hence rise in dental attacks and the high cost involved in switching to digital X-ray systems, digital radiography systems are some of the major factor driving this segment.



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Medical X-ray Films Market Challenges



Emergence of Digital Radiography



From the past two decades, digital radiography systems has supplanted screen-film radiography in many radiology departments. Manufacturers are providing a variety of digital imaging solutions based on various detector and readout technologies. In addition, image distribution in hospitals can be achieved electronically by means of web-based technology with no risk of losing images. Other advantages of digital radiography include higher patient throughput, increased dose efficiency, and the greater dynamic range of digital detectors with possible reduction of radiation exposure to the patient. Further increased dose efficiency, and the greater dynamic range of digital detectors with possible reduction of radiation exposure to the patient is analyzed to drive the adoption of digital radiography. With regular discoveries and developments in dentistry, dentists are adopting the new technology to ensure that they provide the most effective and fast treatments and procedures. The evolution and adoption of digital X-ray systems and flat panel detectors instead of films that deliver a user-friendly, smart workflow for imaging centers have posed a major threat to the X-ray films market.



Medical X-ray Films Market Landscape



Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Medical X-ray Films market. Medical X-ray Films top 10 companies include Fujifilm, Konica Minolta, AGFA, Carestream Health, Codonics, SONY, Colenta, FOMA BOHEMIA Ltd, Luckyfilm, and Tianjin Media among others.



Acquisitions/Product Launches



In 2019, Eastman Kodak Company introduced of the KODAK Industrial X-Ray Films and chemicals for non-destructive testing (NDT). The reintroduction of non-destructive testing X-ray film products highlights Kodak’s ongoing commitment and investment in film.



Key Takeaways



Medical X-ray Films market in Asia-Pacific region held significant market share of 36.5% in 2020, the move toward digital radiography is slow in the region when compared to other regions.



Increasing adoption of cosmetic dentistry, the introduction of innovative products, and the rising prevalence of dental disorders are driving the market.



Further the emerging economies of Brazil, Turkey, India, and China have been among the largest adopters of analogue X-ray equipment. While, these countries have been well informed of the newest digital equipment, yet a majority of the hospitals have been reluctant to update their existing equipment, owing to the capital investment already made.



The evolution and adoption of digital X-ray systems and flat panel detectors instead of films that deliver a user-friendly, smart workflow for imaging centres have posed a major threat to the X-ray films market.



Related Reports:



A. X-ray Inspection System Market

https://www.industryarc.com/Research/X-ray-Inspection-System-Market-Research-505365



For more Electronics Market related reports, please click here



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