Report projects strong growth for radiography market

The global radiography market generated $16.59 billion U.S. (15.73 billion euros) in sales in 2016 and is expected to grow to reach $21.8 billion U.S. (20.67 billion euros) in sales by 2021, according to a new report by market research firm Technavio.

Growth is being driven by the rising demand for portable radiography equipment, customization of radiography equipment, and the increase in number of strategic acquisitions in the digital x-ray market, Technavio said. The healthcare sector accounted for 97.4% of the radiography market in 2016, dwarfing revenues from the industrial sector.

In other report findings, Technavio said the average cost of a new digital radiography system is approximately $180,000 U.S. (179,200 euros). Also, the radiography market in the Americas is projected to grow at a compound annual growth rate of 1.6% to reach $6.74 billion U.S. (6.39 billion euros) by 2021, according to the company.

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