The global radiography market generated $16.59 billion in sales in 2016 and is expected to reach $21.8 billion in sales by 2021, according to a report by market research firm Technavio.
Growth is being driven by the rising demand for portable radiography equipment, the customization of radiography equipment, and an increase in the 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. 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 by 2021, according to the company.
