Global X-ray Tube Market to Advance at a CAGR of 4.57%

Triton Market Research presents the Global X-ray Tube Market segmented by Industry Vertical (Food, Aerospace & Defense, Manufacturing, Healthcare, Other Industry Verticals), Type (Stationary X-Ray Tube, Rotating Anode Tube), and Regional Outlook (Asia-Pacific, Latin America, North America, Europe, Middle East & Africa).

The report also includes the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter’s Five Forces Analysis, Market Strategies, Drivers, Challenges, Opportunities, Market Attractiveness Index, Vendor Scorecard, Competitive Landscape, Research Methodology & Scope, Global Market Size, and Forecasts & Analysis (2022-2028).

As per Triton’s report, the global X-ray tube market is set to progress with a CAGR of 4.57% during the forecasted period from 2022 to 2028.

An X-ray tube is an instrument that produces X-rays. These tubes include components such as protective housing, anode, glass envelope, and cathode.

The manufacturing sector is among the major industries contributing to the economic growth in emerging economies. X-ray tubes help manufacturers monitor and control their production facility by reducing waste. Other than this, the rise in chronic conditions has elevated the demand for X-ray machines in the healthcare sector. Therefore, the expanding manufacturing sector and high demand from the healthcare industry are fueling the adoption of X-ray tubes globally.

However, several countries have imposed regulations due to the harmful nature of X-ray tubes. These guidelines have surged costs for manufacturers as they are confined to producing equipment to a set standard, which impedes the global market’s progression.

The Asia-Pacific is expected to witness the fastest growth rate over the forecast period. The factors contributing to the region’s growth include the large population base requiring healthcare services. Moreover, the growing industrial operations have increased the demand for systems integrated with X-ray tubes. In this regard, X-ray tubes have found application across industries such as manufacturing, healthcare, F&B, and defense. Therefore, these factors are widening the market’s scope in the region to a large extent.

The renowned companies in the X-ray tube market are Superior X-Ray Tube, Lafco India Scientific Industries, General Electric Healthcare, Canon Electron Tubes & Devices Co Ltd (Canon Inc), Dunlee (Philips Company Group), Comet Group, Siemens Healthineers AG, Malvern Panalytical Ltd, Yxlon International, Oxford Instruments Plc, Gulmay, and Varex Imaging Corporation.

The entry of players into the market is restricted mainly by stringent government policies. Moreover, players need expertise and a level of agreement with the suppliers to operate efficiently in the market. Furthermore, several existing players are innovating their offerings due to the high demand for differentiated products. Therefore, the threat of new entrants is low, while the competitive rivalry is moderately high.