April 21, 2016 -- Escalating healthcare spending and a growing geriatric population will fuel growth in the global x-ray market over the next six years.
That analysis comes from a new report from P&S Market Research, which forecasts a 5% compound annual growth rate (CAGR) from now through 2022. In addition, the portable x-ray segment could see a CAGR of 7% during the same time period.
The report valued the worldwide x-ray market at $8.9 billion in 2015. Key drivers of the anticipated growth include the increasing prevalence of chronic diseases and improving healthcare infrastructure in developing countries.
Geographically, the Asia-Pacific market is expected to contribute a CAGR of 5.7% over the next six years.