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
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
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
Digital radiography is a similar technique to conventional radiography, with the only difference being the former using a phosphor image plate instead of a conventional film. Currently, based on various detector and readout technologies, the medical devices and equipment manufacturers offer a variety of digital imaging solutions to their customers. There are various factors positively affecting demand for digital radiography such as digital detectors archiving of a fully digital picture and communication system, where images are stored digitally and can be shared without any risk of file loss during image distribution in hospitals through web-based technology. This in turn is expected to favor the digital radiography market over the forecast period.
Furthermore, healthcare industry is projected to grow at a significant rate on the backdrop of the rise in healthcare expenditure, especially in emerging nations, with the setting up of various new hospitals and diagnostic centers in countries such as India and China. Also, the market is witnessing a steady shift from analog to digital modes of imaging, owing to the better and fast imaging results of the imaging services.
Increasing use of digital radiography devices for diagnosing and treating various disease such as cancer, cardiovascular. Increasing prevalence of breast cancer is expected to drive the global digital radiography market growth over the forecast period. For instance, according to the World Cancer Research Fund, in 2018, around 2 million women worldwide suffered from breast cancer. Moreover, according to the American Cancer Society, in 2017, about 252,710 new cases of breast cancer were reported globally.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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