New Jersey, NJ, Aug. 12, 2019 (GLOBE NEWSWIRE) -- Increasing demand for effective diagnostic imaging techniques coupled with rise in incidences of chronic diseases such as arthritis, cancer and appendicitis are high impact rendering factors driving the market. The global digital X-ray market is expected to grow from USD 8.66 Billion in 2017 to USD 18.07 Billion by 2025 at a CAGR of 10.24% during the forecast period 2018-2025, according to the new report published by Fior Markets.
Digital X-Ray equipment is used in medical imaging of human body. X-rays are ionizing radiations which use energy to penetrate into human tissue. Digital x-rays are used to generate diagnostic images through interaction with human tissues. The human tissues are exposed to a beam of x-ray, which passes through the body and gets absorbed by tissues. This process is known as attenuation. Attenuation results in formation of digital x-ray images. The dense part of the body such as the bones absorbs more x-rays than thin parts. The dense part appears white while thin parts appear black on radiographs produced by digital x-ray equipment.
Increasing cases of chronic diseases such as arthritis and cancers and demand for effective diagnostic imaging are expected to enhance the growth of the segment. In addition, rising geriatric population is also boosting the growth of the global digital X-ray market. The high cost of these instruments may restrict the growth of the digital X-ray market. However, rising adoption of minimally invasive surgical procedures driving the growth of the digital X-ray market in the forecast period.
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Key players operating in the global digital X-ray market are Carestream Health, Canon Inc., GE Healthcare, Fujifilm Corporation, Hitachi Ltd., Philips Healthcare, Hologic, Inc., Shimadzu Corporation, Siemens Healthineers, Konica Minolta, Inc., Samsung Medison Co., Ltd., Agfa Gevaert, Toshiba Medical Systems Corporation and others. Key players active in the market are involved in collaborative agreements and expansion to bolster the growth of the digital X-ray market. Extensive product portfolio and expansion strategies by major players are contributing for the growth of the sector.
- For instance, in December 2017, Canon Inc. and Virtual Imaging Inc. together launched the CXDI-710C, CXDI-810C, and CXDI-410C wireless digital radiography (DR) detectors to help in streamlining the digital X-ray process.
- For instance, in November 2017, Philips acquired Analytical Informatics Inc., which is advanced workflow tools and applications providing company.
Digital X-ray segment is dominating and held the largest market share of 53.10% in 2017.
The type segment is classified into analog X-Ray and digital X-Ray. Digital X-ray segment is dominating the market by accounting the largest market share of 53.10% in 2017. Increasing elderly population and rising disease incidences are contributing to the growth of the segment.
The direct radiography segment is expected to dominate and was valued around USD 4.38 billion in 2017
Technology segment is divided into direct radiography and computed radiography. The direct radiography segment is expected to dominate and was valued around USD 4.38 billion in 2017. The benefits associated with the use of direct radiography systems include effective dynamic and reduced radiation exposure for patients and workers. The direct radiography offers several advantages such as effective dynamic range, improved contrast detectability, and better medical evaluation and due to this, the direct radiography segment is anticipated to maintain its dominance over the forecast period.
Fixed digital X-ray systems segment is expected to grow with the highest CAGR of 12.58% in the forecast period.
Portability segment is bifurcated into fixed digital X-ray systems and portable digital X-ray systems. Fixed digital X-ray systems segment is expected to grow with the highest CAGR of 12.58% in the forecast period. The availability of cost-effective solutions is driving the growth.
The retrofit digital X-ray systems segment is anticipated to hold the largest share of 57.12% in 2017.
System segment is divided into new and retrofit digital X-ray systems. The retrofit digital X-ray systems segment is anticipated to hold the largest share of 57.12% in 2017. These are more cost-effective alternative than new digital X-ray systems.
The general radiography segment is dominating and was valued around USD 4.04 billion in 2017.
The application segment includes general radiography, dental applications, fluoroscopy, and mammography. The general radiography segment is dominating and was valued around USD 4.04 billion in 2017. The rising prevalence of diseases like CVD, tuberculosis, osteoporosis is contributing to the growth of the segment.
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The hospitals segment is expected to witness the highest CAGR of 12.91% during the forecast period.
End user segment is classified into diagnostic centers and hospitals. The hospitals segment is expected to witness the highest CAGR of 12.91% during the forecast period. Growing adoption of digital X-rays in hospitals is promoting the growth of this segment.
Regional Segment Analysis of the Digital X-ray Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region captured the largest share of global digital X-ray market and was valued around USD 3.52 billion in 2017 whereas Asia pacific is expected to witness the highest CAGR of 13.04% in the forecast period. North America region is expected to dominate the market owing to high adoption of advanced technologies and improved infrastructure in healthcare facilities in the region. Asia pacific is projected to be fastest growing region in the forecast period due to increasing disposable incomes, rising affordability to advanced technologies and rising prevalence of target diseases are driving the growth of the segment.
About the report:
The global digital x-ray market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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