Global Digital X-ray Market is expected to grow at a CAGR of 10.24% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Digital X-ray Market by Type, Technology (Computed Radiography, Direct Radiography), Portability, System, Price, Application, End User, and Region” and Global Forecast 2018-2025.
As per the report, 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 from 2018-2025. North America is expected to dominate the market during the forecast period. High adoption of advanced technologies and improved infrastructure in healthcare facilities in the region are propelling the growth of the market.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Prominent players operating in the 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. Major firms are incorporating various strategies to increase their market reach. For instance, in November 2017, Philips acquired Analytical Informatics Inc., which is an advanced workflow tools and applications providing company.
The type segment is classified into analog X-Ray and digital X-Ray. Increasing elderly population and rising disease incidences are contributing to the growth of the segment. Technology segment is divided into direct radiography and computed radiography. The benefits associated with the use of direct radiography systems include effective dynamic and reduced radiation exposure for patients and workers. Portability segment is bifurcated into fixed digital X-ray systems and portable digital X-ray systems. Fixed digital X-ray systems 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. 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 in 2017. These are more cost-effective alternative than new digital X-ray systems. The application segment includes general radiography, dental applications, fluoroscopy, and mammography. The general radiography segment is dominating in 2017. The rising prevalence of diseases like CVD, tuberculosis, osteoporosis is contributing to the growth of the segment. End user segment is classified into diagnostic centers and hospitals. The hospitals segment is expected to witness the highest CAGR during the forecast period. Growing adoption of digital X-rays in hospitals is promoting the growth of this segment.
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 market. High cost of these instruments may restrict the growth of the market. However, rising adoption of minimally invasive surgical procedures driving the growth of the market in forecast period.
About the report:
The global digital X-ray market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an 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, and competitor position grid analysis.
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