Pune, 23, Nov 2022: The Digital X-ray Market Size, Share & Industry Trends Analysis Report by Solution, Product, End-user, Application, Regional Outlook and Forecast, 2022-2029″ report has been added to Maximize Market Research offering. The Digital X-ray Market size is expected to grow from USD 12 billion in 2021 to USD 23.9 billion in 2029, at a CAGR of 9 percent for the forecast period from 2022 to 2029.
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Digital X-ray Market Scope and Research Methodology
The Digital X-ray Market report is a comprehensive analysis that covers trends and highlights prevalent in the Digital X-ray Market, assisting clients in exploring opportunities and developing strategies in the market. The goods and services offered, revenue, financial status, portfolio, growth strategies, and regional presence of key market players and new entrants are all examined. Recent acquisitions and mergers, as well as company strategic stances and information on joint alliances, provide an accurate picture of the competitive landscape in the Digital X-ray Market. To comprehend the products and services of the Digital X-ray Market, a segment-wise analysis is performed by modality, technology, mobility, and end-use industry, complete with market-influencing factors and current technological changes and innovations. The report also discusses the Digital X-ray Market’s drivers, challenges, restraints, and challenges in detail. Regional market analysis focusing on the local, regional, and global levels is provided as a guide for market followers and entrants to develop pricing and marketing strategies.
The bottom-up approach was used for market estimation and global market trend analysis. To obtain accurate inferences, data was collected using both primary and secondary research methods for a large sample. The primary methods included surveys, questionnaire administration, and phone interviews with industry specialists, market leaders, entrepreneurs, and marketing professionals. Secondary data was meticulously collected from a carefully selected set of sources to ensure the accuracy of the conclusions. This includes official databases of various organizations and government sites, industry journals, white papers, annual reports, product manufacturer and supplier releases, and paid databases. SWOT analysis was used to understand the strengths and weaknesses of key companies, and PESTLE was used to understand the various market factors. As a result, the report provides a comprehensive overview of the Digital X-ray Market.
Digital X-ray Market Overview
One of the most recent advancements in the radiography industry is digital X-Ray. It uses a variety of solid-state detectors, including charge-coupled devices, flat panel detectors, and an x-ray source, to produce high-quality radiographs. These lightweight and compact detectors have become the hallmark of digital radiography systems, improving image quality, equipment handling, and radiograph test accuracy. Digital X-Ray Market is a fully digitised form of radiography that replaces phosphor-based or film-based radiography.
Digital x-ray equipment reduces the cost per x-ray image as well as the processing time per image by replacing the front panel, potentially allowing for instant interpretation for an expedited diagnosis. In contrast, companies in the digital X-ray market are investing heavily in order to align their offerings with current developments and technologies, such as 3D sensor technology. The healthcare equipment market is dominated by North America, followed by European nations. In the field of digital radiography, European researchers currently file the most patents, followed by North American researchers. Investing in this sector is likely to stimulate research while also improving the quality and affordability of digital radiography applications.
Digital X-ray Market Dynamics
Technological progress is critical to the growth of the digital X-ray market. Image quality, acquisition time, portability, detector form, and software all play a role in the development and expansion of digital X-ray systems. Demand for advanced digital X-ray systems is increasing due to their ability to process large amounts of data and examine patients quickly. Several companies are working to improve digital system performance and efficiency. These systems enable radiologists to address a wide range of clinical applications by providing diagnostic-quality images and stitching functionality.
The application of artificial intelligence (Al), particularly in medical imaging, is one of the most promising areas of health innovation. In this regard, many ongoing research and development programs have aided the Digital X-ray Market. Several companies are currently conducting research and development to provide Al with a variety of imaging modalities, including digital X-ray systems. GE, for example, introduced a new Al algorithm in its Critical Care Suite 2.0 at RSNA 2020, designed for use with GE’s mobile X-ray system. In August 2020, Canon Medical Systems will collaborate with Zebra Medical Vision (Zebra-Med) to offer its Al1 automated imaging analysis solutions to clinicians in the United States, allowing them to provide faster, more accurate diagnoses for better patient care.
These developments have increased the use of Al in diagnostic imaging. It is difficult to increase the adoption of refurbished systems. Many hospitals in developing countries are unable to invest in digital X-ray systems due to budget constraints and high equipment costs, as well as low reimbursement rates. However, because of the high demand for digital imaging procedures around the world, hospitals that cannot afford to invest in new imaging systems prefer to use refurbished ones. New systems are frequently more expensive than refurbished systems.
Digital X-ray Market Regional Insights
North America will account for 35 percent of total revenue in the Digital X-ray market in 2021. The market is influenced by factors such as increased adoption of modern technology and improved healthcare infrastructure, strong purchasing power, and a fair reimbursement framework. Shimadzu Medical Systems USA, for example, announced that the first North American installation of its RADspeed Pro style edition with GLIDE Technology, DR system will take place in August 2021 at Benefis Orthopedic.
Due to increased demand for better imaging devices and supportive government initiatives to improve healthcare infrastructure in the region, the Asia Pacific market for digital x-ray systems is expected to grow at the fastest rate during the forecast period. Due to their rapidly developing economies and improved healthcare services, Southeast Asian countries, China, Japan, and India are expected to drive growth. According to ENHANCE International’s Sam Radwan, China’s estimated healthcare spending in 2050 may be greater than Germany’s overall GDP in 2020. Furthermore, the Asia Pacific market is expected to grow due to the rising prevalence of chronic diseases and an aging population.
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Digital X-ray Market Segmentation
- Digital radiography
- Computed radiography
- Diagnostic imaging centers
Digital X-ray Market Key Competitors:
- Siemens Healthineers
- Koninklijke Philips N.V.
- GE Healthcare
- Canon Inc
- Carestream Health
- FUJIFIlM Holding Corporation
- Shimadzu Corporation
- Hitachi, Ltd.
- Agfa-Gevaert Group
- Hologic Inc
- Agfa-Gevaret Group
- Samsung Medison
- Konica Minolta
- Shenzen Mindray Bio-Medical Electronics Co.
- Varex Imaging Corporation
- MinXray, Inc
- Toshiba Medical Systems Corporation
- Sirona Dental Systems, Inc
Key questions answered in the Digital X-ray Market are:
- What is Digital X-ray?
- What is the growth rate of the Digital X-ray Market for the next five years?
- What is the nature of competition in the Digital X-ray industry in developed economies and developing economies?
- Who are the key players in the Digital X-ray Market?
- Who are the market leaders in Digital X-rays in Europe?
- Who are the market leaders in Digital X-rays in USA and Canada?
- Who are the market leaders in Digital X-ray in India, China, Japan, and South Korea?
- What are the factors affecting growth in the Digital X-ray Market?
- Who held the largest market share in Digital X-ray Market?
- What are the factors for the growth of the Asia-Pacific region in the Digital X-ray Market?
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Segment and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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