Digital X Ray is a form of radiography that uses x-ray–sensitive plates to directly capture data during the patient examination, immediately transferring it to a computer system without the use of an intermediate cassette. Advantages include time efficiency through bypassing chemical processing and the ability to digitally transfer and enhance images. Also, less radiation can be used to produce an image of similar contrast to conventional radiography.
What the Market Looks Like?
The digital X-ray market is expected to reach USD 13.04 billion by 2023 from USD 8.08 billion in 2017 at a CAGR of 8.5%. The base year considered for the study is 2017, and the forecast period is from 2018 to 2023. In 2018, North America is expected to dominate the market, followed by Europe. The high growth of the North American market is attributed to the strong economies in the US and Canada, which have allowed for significant investments in new technologies.
Based on application, the digital X-ray market is segmented into general radiography, dental applications, fluoroscopy, and mammography. The general radiography segment is expected to account for the largest share of the digital X-ray market, in 2018.
Based on the technology, the digital X-ray market is segmented into direct radiography and computed radiography. The direct radiography segment is projected to register the highest CAGR during the forecast period
Based on portability, the digital X-ray market is segmented into fixed digital X-ray systems and portable digital X-ray systems. In 2018, fixed digital X-ray systems are expected to command the largest share of the digital X-ray market.
Based on system, the digital X-ray market is segmented into new and retrofit digital X-ray systems. The retrofit digital X-ray systems segment is expected to hold the largest share of the digital X-ray market, in 2018.
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What Drives the Market?
The growth of the global market for Digital X-ray is primarily influenced by the following factors:
• Increasing Geriatric Population and Growth in Disease Incidence
• Favorable Regulations and Government Initiatives & Investments
• Advantages of Digital X-Ray Systems
• Technological Advancements and Product Development
Geographical growth scenario of Digital X-ray Market
While North America is expected to dominate the market in 2018, Asia is expected to register the highest CAGR during the forecast period. The high growth in this segment is attributed to the growing geriatric population, particularly in Japan; increasing disposable incomes, allowing for greater affordability to advanced technologies; the rising prevalence of target diseases; and favorable government initiatives.
Leading market players and strategies adopted
While the digital X-ray market presents significant growth opportunities, market growth may be hindered due to the high cost of digital X-ray systems. The digital X-ray market is highly competitive with several big and small players. Prominent players in the digital X-ray market include Canon Inc. (Japan), Carestream Health (US), Fujifilm Corporation (Japan), GE Healthcare (US), Hitachi Ltd. (Japan), Hologic, Inc. (US), Philips Healthcare (Netherlands), Shimadzu Corporation (Japan), Siemens Healthineers (Germany), Konica Minolta, Inc. (Japan), Samsung Medison Co., Ltd. (Korea), and Agfa Gevaert (Belgium).
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