DUBLIN--(BUSINESS WIRE)--The "Digital X-ray Market by Application (Radiography, Orthopedic, Cardiovascular, Fluoroscopy, Chest), Technology (Direct, Computed Radiography), Portability (Handheld, Mobile), System (Retrofit, New), End User, Price - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The digital X-ray market is expected to reach USD 13.04 billion by 2023 from USD 8.68 billion in 2018, at a CAGR of 8.5%.
Factors such as increasing geriatric population and the subsequent growth in global disease incidence, favorable regulations and government initiatives & investments, the advantages of digital X-ray systems, and technological advancements and product development are driving the digital X-ray market.
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.
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. The rising prevalence of diseases like tuberculosis, osteoporosis, and CVD; growing aging population; and product launches are expected to drive the growth of the general radiography applications segment.
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. The advantages associated with the use of direct radiography systems, such as effective dynamic range, better contrast detectability, better medical evaluation, superior and more accurate image capture, reduced radiation exposure for patients and workers, flexibility in image management, improved patient throughput, superior evaluation of data and images, and lower operational costs, are promoting the growth of the direct radiography segment in the digital X-ray market.
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. The availability of cost-effective solutions and wide application of these systems in diagnostics are expected to drive the growth of this market segment.
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. Retrofit systems are a more cost-effective alternative to purchasing new digital X-ray systems. As a result, their demand is high among end users.
Based on end user, the digital X-ray market is segmented into diagnostic centers and hospitals. The hospitals segment is expected to register the highest CAGR during the forecast period. Increasing government and private investments and the growing adoption of digital X-rays in hospitals are driving the growth of this segment.
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.
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.
Market Dynamics
Drivers
- 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
Restraints
- High Cost of Digital X-Ray Systems
Opportunities
- Development of AI-Based Digital X-Ray Systems
- Emerging Markets
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 X-Ray Market, By Type
7 Digital X-Ray Market, By Application
8 Digital X-Ray Market, By Technology
9 Digital X-Ray Market, By Portability
10 Digital X-Ray Market, By System
11 Digital X-Ray Market, By End User
12 Digital X-Ray Market, By Price Range
13 Digital X-Ray Market, By Region
14 Competitive Landscape
15 Company Profiles
- Siemens Healthineers
- Koninklijke Philips
- GE Healthcare (A Subsidiary of GE Company)
- Shimadzu
- Canon
- Carestream Health (A Subsidiary of ONEX Corporation)
- Fujifilm
- Hitachi
- Hologic
- Agfa-Gevaert
- Samsung Medison
- Konica Minolta
For more information about this report visit https://www.researchandmarkets.com/research/5587fb/global_digital?w=4
