US X-Ray Films Market - Focused Insights 2023-2028

The US X-ray films market was valued at a significant $640.72 million in 2022, it's poised to ascend to an impressive $727 million by 2028, with a steady growth of 2.13% CAGR. A key player on the global stage, the US market thrives on the back of approximately 2.5 billion x-ray procedures performed globally in 2021 - a number that's on a swift upward trajectory.

Tech Transitions & Trends: The healthcare landscape quickly adopts sophisticated imaging tech. The transition to digital imaging is witnessing a slow but inevitable sidelining of conventional X-ray films. Yet, industrial applications steadfastly rely on the age-old, tried-and-tested X-ray film method to detect product defects, ensuring market sustenance.

Market Stalwarts: With limited players in the game, brands like Agfa, Carestream, and Sony lead the market. While giants like Carestream faced challenges like bankruptcy, their innovations continue. For instance, Carestream's advanced film reduces radiation exposure, making diagnostics safer for patients. Agfa's STRUCTURIX radiographic film, sought-after across various industries, highlights X-ray films' versatility and evolving applications.

Demand Dynamics: The call for diagnostic processes is skyrocketing, propelled by the rising incidences of chronic illnesses and broader testing parameters, such as CT scans. Vendors are innovating to meet this demand. Brands like Agfa and Fujifilm are rolling out industrial X-ray films that dramatically reduce processing time and enhance efficiency.

Critical Timelines: In emergency situations, where every second counts, faster diagnostic processes become lifesavers. With over 45 million surgeries in the US annually and increasing reliance on X-rays for various sectors, the need for swift, effective X-ray films is more urgent than ever.

Industrial vs. Healthcare: While the healthcare sector slowly pivots from traditional X-ray films, industrial sectors remain steadfast. From gas pipelines to vehicle design, the demand for X-ray films remains robust, showcasing their indispensable nature in diverse applications.

Decoding the Complexities: X-rays, though prevalent, come with their set of challenges in interpretation. It's vital to acknowledge potential limitations while interpreting them to ensure precision.

Market Structure: Dominated by a few key players like Carestream, Agfa, Fujifilm, and Sony, the US market sees these frontrunners harnessing strategies like acquisitions and collaborations to bolster their foothold.

KEY HIGHLIGHTS:

• In 2021, around 2.5 billion X-ray procedures were conducted worldwide, and this is increasing. This will increase the demand for X-ray films. The US is one of the major contributors to the global market
• Industrial X-ray films are largely used and are one of the oldest methods to find product defects. This procedure will drive the market at reasonable rates
• In the medical segment, hospitals are one of the largest users of medical X-ray films. Dental hospitals are also one of the significant contributors to the X-ray film market
• Oil & gas industry of x-ray films in detecting leaks in welds, pipelines and inspecting for corrosion. Similarly, Security screening, non-destructive testing, and quality control are the applications that are used by the aerospace & defense segment. These industrial applications are increasing the demand for X-ray films.
• Urgent care centers and emergency units have shifted to the usage of digital X-rays, which are compatible with smart devices and can be shared easily. The advanced digital X-rays have very little processing time. This shift is one of the limitations of the X-ray film market.
• Non-screen X-ray films dominate the product segment and are widely used across various industries, from medical to various industries. This segment is expected to grow at an incremental rate of 58.94%.