USD 11.11 billion
Report ID: SQSG35G2035 | Region: Global | Published Date: December, 2022 | Pages: 157
Global Digital X-Ray Market size was valued at USD 11.11 billion in 2021 and it is expected to reach USD 19.16 billion by 2028, at a CAGR of 8.1% over a forecast period (2022-2028).
Digital X-ray, also known as digital radiography, is a type of X-ray imaging in which these sensors are used in place of traditional photographic films. This has the added benefit of saving time and allowing you to transfer images digitally while also improving their visibility. The rise in the incidence of dental digital X-ray, as well as appropriate government initiatives and investments, are expected to drive the growth of the global market during the forecast period. Furthermore, the rising prevalence of oral cancer and dental cavities among children is expected to fuel the growth of the global market. Furthermore, the advantages of these systems over traditional analogue systems are expected to support the growth of the global market. On the other hand, the rising cost of these systems is expected to stifle the market growth over the forecast period. Furthermore, the advancement of AI-based digital X-ray systems will provide additional opportunities for the market to grow in the coming years. However, the growing adoption of refurbished systems may pose a further challenge to the X-ray market's growth in the near future.
The benefits of digital x-ray have played a significant role in their adoption; the speed and accuracy, as well as the quick processing times, allow for significantly higher patient screening volumes than earbor. This has compelled businesses to concentrate on product development and innovation. However, these systems are expensive, which limits their adoption. Other factors such as declining reimbursements, a lack of infrastructure, particularly in developing and underdeveloped countries, and potential risks associated with radiation exposure are expected to hamper market growth.
Global Market Size
USD 11.11 billion
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Global digital x-ray market is segmented based on the technology, system, application, portability, end user, and region. By Application, the market is segmented into General Radiography, Chest Imaging Applications, Orthopedic Applications, Cardiovascular Imaging, Dental Applications, Mammography, Cancer, Fluoroscopy, Other General Radiography Applications. By Portability, the market is segmented into Fixed Digital X-ray Systems, Floor-to-Ceiling-Mounted Systems, Ceiling-Mounted Systems, Portable Digital X-ray Systems, Mobile X-ray Systems and Handheld X-ray Systems. By End User, the market is segmented into Hospitals, Diagnostic Centers and Dental Care Centers. Based on technology, the market is segmented into direct radiography and computed radiography. Based on system, the market is segmented into new digital X-ray systems and retrofit digital X-ray systems. Based on Region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Technology
Based on technology, the direct radiography segment held the largest market share in 2021. Direct radiography (DR) systems' advantages, such as effective dynamic range, superior and accurate image capture, as well as lower radiation exposure for patients and workers, are all contributing to the growth of this technology segment. A significant advantage of DR-based systems over fam and CR systems is that images are sent directly from the X-ray imaging plate to a computer screen, eliminating the need to retrieve the image plate for image processing or taking a second X-ray shot. Other advantages of DR systems include improved medical evaluation, superior and accurate image capture, reduced radiation exposure for patients and workers, image management flexibility, increased patient throughput, superior data and image evaluation, and lower operational costs.
Analysis by System
Based on system, during the forecast period, the rebro digital X-ray systems segment is expected to dominate the market. The large share of this segment can be attributed to end users' increased adoption of retrofit systems due to their lower cost when compared to new digital X-ray systems. However, as a result of government initiatives reducing reimbursements for analogue and computed X-ray systems, the new digital X-ray systems segment is expected to grow at a faster CAGR during the forecast period.
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North America dominated the global digital X-Ray Market share, and this is expected to continue during the forecast period. Within North America, the United States dominates the studied market and is expected to continue to do so over the forecast period. The region's growing burden of chronic diseases such as cancer and diabetes, as well as the region's increasing adoption of sophisticated technology, are the major factors driving the digital X-Rays devices market in North America.
During the forecast period, the Asia Pacific region is expected to grow the most. The growing geriatric population, particularly in Japan, is driving growth in the Global digital x-ray market in this region, as are rising disposable incomes, which allow for greater affordability of advanced technologies: the rising prevalence of target diseases, and favourable government initiatives. Such factors contribute to the growth of the market for digital management systems in this region, as well as foreign investments and partnerships. Low hospital budgets, high equipment costs, and a lack of government investment in some countries, on the other hand, are limiting the growth of the Asia Pacific market to some extent.
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Global digital x-ray market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. Siemens Healthineers is the market leader in digital X-ray imaging. Digital X-ray systems, mobile X-ray systems, fluoroscopy systems, mammography systems, mobile C-arms, and robotic X-ray systems are all available from the company. It focuses on inorganic and organic growth strategies, such as new product launches, partnerships, and agreements, to strengthen and maintain its market position. In the last three years, the company has launched several products in the global market and is constantly engaged in R&D for product innovation. This is demonstrated by the fact that the company spends more than 9% of its revenue on research and development.
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According to our Global digital x-ray market analysis, in terms of technology, the radiography segment held larger market share owing to high advantages and in terms of system, rebro digital X-ray systems segment contribute to the market growth due to its low cost. Moreover, Continuous technological advancements and product development are boosting the market expansion. High cost of these systems can hamper the global market growth.
|Market size value in 2021||USD 11.11 billion|
|Market size value in 2028||USD 19.16 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Digital X-Ray Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Digital X-Ray Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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