Global Digital X-Ray Market to Witness a CAGR of 9.12% during 2018-2024
NEW YORK, Dec. 19, 2018 (GLOBE NEWSWIRE) -- Global Digital X-Ray market is expected to grow significantly from USD 7.86 billion in 2017 to USD 14.73 billion in 2024, at a CAGR of 9.12% during 2018-2024. The growth can be primarily attributed to the increasing adoption of digital imaging technology, and increasing incidents of breast cancer and oral disorders. Moreover, rising number of accidental cases and technological advancements in X-rays and product development are anticipated to augment the demand for digital X-ray market over the forecast period. Additionally, increasing preference for digital X-ray systems is driven by benefits such as enhanced imaging quality, ability to handle higher imaging volumes, and greater portability. However, high costs of digital x-ray may hamper the market growth.
Key findings of the report:
-- The global digital X-ray market is expected to reach USD 14.73 billion in 2024, at a CAGR of 9.12% during 2018 -2024 -- Based on portability, the fixed digital X-ray systems segment held the major share of the market in 2017, owing to technological advancements and advance clinical applications -- On the basis of technology, the direct digital radiography segment is likely to grow at the fastest rate during the forecast period 2018-2024 -- Based on the system, the retrofit digital X-ray systems segment held the largest share of the global market in 2017 -- On the basis application, o The mammography segment is expected to register the highest CAGR during the 2018-2024 o The general radiography segment held the major share of the global market in 2017 -- Based on the end-user, the hospital segment held the largest share of the global market in 2017 owing to growing number of imaging procedures performed in hospitals and growing adoption of digital X-ray in hospital -- North America held the largest share of the global market in 2017 -- Some of the key companies operating in the market include CareStream Health, HologicInc, GE Healthcare, Konica Minolta, Inc., Hitachi, Ltd., Fujifilm Medical Systems, Inc., Philips Healthcare, Canon U.S.A, Agfa HealthCare, and Siemens Healthcare Private Limited, among others
Advantages of digital X-ray technology boosting the market growth
Digital X-ray or radiography is defined as a form of X-ray imaging in which digital X-ray sensors are used instead of any traditional photographic film. The major advantages of using digital X-ray include time efficiency, the capability to transfer images digitally, and enhanced images. In addition to this, very less radiation is used to produce an image of same or similar contrast to conventional radiography. Digital radiography utilizes a digital image capture device instead of X-ray film. Hence, immediate image preview and availability is attained along with the elimination of costly film processing steps. Additionally, orthopedic surgeons depend on X-ray images for minimally invasive procedures such as knee and wrist joints, ankle among others. The X-ray images provide real time imagery and allow accurate diagnosis. The biggest advantage of digital technology is that it enables electronic transfer of images to any location, as well as guides the doctor to treat the patients.
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Global Digital X-Ray Market– Regional insight
Geographically, the digital X-ray market is segmented into North America, Europe, Asia-Pacific, Central & South America, and Middle East and Africa. North America dominated the global market for digital X-ray in 2017, and is projected to maintain its dominance over the forecast period.The region is set to offer lucrative opportunity for digital X-ray market owing to growing research and development activities and growing adoption of advance technologies. Asia-Pacific is expected to witness the highest CAGR during 2018-2024, owing to increasing government and private investment in healthcare sector in the region. Moreover, favorable government regulations and increasing aging population are further boosting the market growth.
This report segments global digital X-ray market based on Portability, Technology, System, Price Range, Application, End-user, and region.
-- Portable Digital X-Ray Systems o Mobile X-Ray Systems o Handheld X-Ray Systems -- Fixed Digital X-Ray Systems o Ceiling-Mounted Systems o Floor-To-Ceiling Mounted Systems
-- Computed Radiography -- Direct Digital Radiography
-- New Digital X-Ray Systems -- Retrofit Digital X-Ray Systems
By Price Range
-- Low-End Digital X-Ray Systems -- Mid-Range Digital X-Ray Systems -- High-End Digital X-Ray Systems
-- Dental -- Mammography -- General Radiography o Orthopedic o Chest Imaging o Cardiovascular Imaging o Other -- Fluoroscopy
-- Hospitals -- Ambulatory Surgical centers -- Diagnostic Centers
-- North America -- Europe -- Asia-Pacific -- Central & South America -- Middle East and Africa
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