The medical X-ray market equipment and imaging software was estimated at USD 17.17 billion in 2020, and is predicted to grow at a CAGR of 3.92 percent to USD 21.68 billion by 2026. (2020-2027). Over the projected period, the growing ageing population, combined with rising investments in the healthcare ecosystem, is expected to have a beneficial impact on overall market growth. Developed countries have been confronted with this demographic dilemma and have invested to provide inexpensive healthcare systems to these individuals, giving the market a boost.
According to the World Health Organization, around 70% of cancer fatalities occur in middle- and low-income nations. This is likely to generate an opportunity for companies to invest in R&D and sell equipment and imaging software at a competitive price rather than the typical market price.