DIGITAL RADIOGRAPHY MARKET ANALYSIS

Digital Radiography Market– Insights

Increasing digitization in the healthcare sector is simplifying patient diagnosis, provides accurate, and faster test results. X-ray is an effective diagnostic tool, and its digitization has gained a strong foothold in diagnostic laboratories across the globe. Moreover, introduction of mobile digital x-ray systems have further improved the global digital radiography market outlook. Digital radiography finds application in dental, chest imaging, orthopedic, and mammography. Advantages like ease of operating mobile systems combined with increasing demand for portable and mobile equipment is growing rapidly in digital x-ray market.

The global digital radiography market size was valued at US$ 5,290.0 million in 2019, and is expected to exhibit a CAGR of 4.2 % over the forecast period (2020–2027).

Global Digital Radiography Market Share (%) Analysis, By Device Type, 2019

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Source: Coherent Market Insights Analysis (2019)

Increasing Regulatory Approvals and Launch of Digital Radiography Systems Is Expected to Drive Growth of the Global Digital Radiography Market

Increasing approvals for digital radiography devices from regulatory authorities is expected to drive the digital radiography market growth over the forecast period. For instance, in 2018, Philips received 510(k) clearance from the U.S. food and drug administration (FDA) to market ProxiDiagnost N90, a premium digital radiography-fluoroscopy (DRF) system. This DRF system performs nearby fluoroscopy and digital X-rays through a single system. ProxiDiagnost N90 supports high room utilization and increased patient throughput with optimal workflow support, and patient accessibility.

Increasing launches of digital radiography systems is a major factor driving growth of the global digital radiography market. For instance, in November 2017, Canon U.S.A launched CXDI-710C, CXDI-810C, and CXDI-410C wireless digital radiography (DR) detectors to update the digital X-ray process.

Global Digital Radiography Market- Regional Insights

On the basis of region, the global digital radiography market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in the global digital radiography market over the forecast period, owing to presence of key players in the region such as Carestream Health, North Star Imaging, GE Healthcare, and Varex Imaging Corporation. These players are focused on strategic acquisitions to expand their market share. For instance, in April 2019, Varex Imaging Corporation acquired Direct Conversion, a Stockholm, Sweden-based manufacturer, and marketer of linear array digital detectors.

Among region, Asia Pacific is expected to witness growth in the global digital radiography market, owing to increasing health care expenditure to provide adequate and quality healthcare services in the region. For instance, in November 2018, MGM Healthcare Pvt. Ltd announced its plans to launch a new chain of hospitals, establishing 400-bed state-of-the-art medical institution, which is expected to drive growth of the digital radiography market owing to increasing need of X-ray equipment and imaging software in India.

Global Digital Radiography Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2027

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 Source: Coherent Market Insights Analysis (2019)

Global Digital Radiography Market- Competitive Landscape

Key players operating in the global digital radiography market include GE Healthcare, North Star Imaging, Fujifilm Holdings, Fresenius Se & Co. KGaA, Koninklijke Philips N.V., Shimadzu Corporation, Toshiba Medical System Corporation, Carestream Health, 3DX-Ray, Canon, Inc., and Bosello High Technology