Exploring the Global Microfocus X-Ray Sources Market Size … – GlobeNewswire

August 12, 2023 10:45 ET | Source: Zion Market Research Zion Market Research
Sarasota, Florida, UNITED STATES
New York, NY, Aug. 12, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Microfocus X-Ray Sources Market By Type (Open-Type And Sealed-Type), By Application (Electronic, Medical Science, And Casting Inspection), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Microfocus X-Ray Sources Market size & share in terms of revenue was valued at USD 121.36 million in 2022 and it is expected to surpass around USD 189.67 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.72% during the forecast period 2023 to 2030.”
What are Microfocus X-Ray Sources? How big is the Microfocus X-Ray Sources Industry?
Microfocus X-Ray Sources Report Coverage & Overview:
Microfocus X-ray generators are designed for both 3D and 2D non-destructive examination. Additionally, the small focal point inherent in microfocus X-ray technology prevents the occurrence of image blurring, ensuring enlarged and sharply defined X-ray images. Specifically, microfocus X-rays find application in the non-destructive inspection of industrial specimens, utilizing their capacity for high-resolution imaging and magnification. It’s worth noting that a microfocus X-ray source enables the comprehensive scrutiny of objects through magnified X-ray images, serving as a means to obtain pictures with exceptional levels of detail.
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Global Microfocus X-Ray Sources Market: Growth Dynamics
Surge in elderly population susceptible to orthopedic ailments to expedite the global market space
The rise in the geriatric population prone to chronic diseases such as orthopedic disorders and cancer will proliferate the expansion of the microfocus x-ray sources market across the globe. The demand for the product has been accelerated as a result of recent developments in the design of the microfocus x-ray source. Aside from this, the constant emergence of new technologies for boosting image quality and the increased focus of industry players on product innovations will pave the way for the expansion of the market around the world. In addition to this, the market will expand as a result of the constant appearance of new technologies. The introduction of novel product advancements will make a beneficial contribution to the overall earnings of the global market.
For instance, in April 2023, Nikon Corporation, a key Japanese firm manufacturing digital SLR cameras, introduced VOXLS 40 C 450, a high-performing X-ray and CT System. The strategic move is predicted to expand the scope of demand for microfocus X-ray sources in the coming years. In September 2020, Waygate Technologies, a global provider of non-destructive testing solutions & a key division of Baker Hughes Digital Solutions, introduced next-gen industrial 3D CT tools and 2D radiography referred to as Phoenix V/tome/x S240. Such moves will provide a strong platform for the growth of the global market.
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Report Scope
Microfocus X-Ray Sources Market: Segmentation Analysis
The global microfocus X-ray sources market is sectored into type, application, and region.
In type terms, The worldwide market for microfocus X-ray sources is categorized into two distinct segments: open-type and sealed-type. Furthermore, the open-type segment, which captured approximately sixty-six percent of the global market share in 2022, is projected to achieve the highest Compound Annual Growth Rate (CAGR) over the subsequent eight years. The segment’s expansion in the upcoming years can be ascribed to the remarkable capabilities provided by open-type microfocus X-ray sources, combined with their cost-effectiveness. It has been reported that open-type microfocus X-ray sources can effectively identify defects smaller than 5 microns and are also suitable for thicker items.
Based on the application, The worldwide microfocus X-ray sources sector is divided into three main segments: electronics, medical science, and casting inspection. Furthermore, the casting inspection category, which made a substantial contribution to the global market share in 2022, is anticipated to achieve global industry leadership in the forthcoming years. The segment’s significant growth over the expected period can be attributed to the extensive application of microfocus X-ray sources in the nondestructive assessment of castings, particularly for identifying internal defects within them.
The global Microfocus X-Ray Sources market is segmented as follows:
By Type
By Application
Browse the full “Microfocus X-Ray Sources Market By Type (Open-Type And Sealed-Type), By Application (Electronic, Medical Science, And Casting Inspection), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/microfocus-x-ray-sources-market
Competitive Landscape
Some of the main competitors dominating the global Microfocus X-Ray Sources market include – 
Key Insights from Primary Research:
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Regional Analysis:
The Asia-Pacific region is projected to hold a significant portion of the global market share throughout the analysis period.
In 2022, Asia-Pacific commanded more than fifty percent of the total microfocus X-ray sources market share globally. This region is expected to maintain its dominance by generating substantial market revenue over the anticipated timeframe. The driving force behind the region’s market expansion during this assessment period can be attributed to the presence of influential industry players in countries like China and Japan. Additionally, the widespread utilization of this product in sectors such as healthcare, electronics, and casting will play a pivotal role in propelling regional market growth in the coming years. Notably, Japan and China will be pivotal in steering revenue growth for the regional market.
Moreover, the microfocus X-ray sources sector in Europe is poised to exhibit the highest Compound Annual Growth Rate (CAGR) within the assessment period. This growth can be attributed to the robust healthcare infrastructure in the continent, coupled with a rising demand for the product across various end-use domains. Furthermore, countries such as France, Germany, Spain, Finland, and the UK are identified as significant revenue contributors in the region, poised to substantially enhance the overall industry revenue.
By Region
Microfocus X-ray Sources Market: Opportunities
The huge demand for dose reduction methods can open new vistas of growth for the global market during the forecast timeline
Humungous demand for improvement in image quality and the need for enhancing workflow efficiencies will open new growth opportunities for the global microfocus x-ray sources market. Furthermore, the need for dose-reduction techniques will enlarge the scope of the global market demand. The emergence of new technologies for improving the resolution quality of images will create new vistas of growth for the global market.
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