Digital X-ray Market

 Increasing Occurrence of Serious Injuries, Orthopedic Diseases and Cancer

The increasing occurrence of orthopedic diseases and cancers, the increasing number of serious injuries, are driving the market growth in the forecast period. According to the WHO, life expectancy is increasing for the human race. By 2050, the world’s population, aged 60 years and older, is expected to reach a total of 2 billion. As of 2018, 125 million people were aged 80 years or older. By 2050, 80% of the total geriatric population is expected to live in low- and middle-income countries. The aging process is commonly associated with the onset of increased risks of chronic diseases and weakness in the bones and muscles. Elderly patients face high risks of developing various disorders, such as orthopedic disorders, lung problems. Due to a rapid increase in the geriatric population, the prevalence of age-associated disorders has witnessed an increase, which, in turn, has resulted in the expansion of the market. According to the International Osteoporosis Foundation (IOF) 2019, one in three women and one in five men aged 50 years and above sustain osteoporosis-related fractures, and approximately 200 million people are affected worldwide, resulting in a fracture every three seconds.​ A digital x-ray provides images of bones and gives better guidance in diagnosis and surgeries for orthopedics. Thus, with the rising burden of orthopedic disorders, the demand for digital x-ray is also expected to rise.

Also, due to the increase in the number of dental disorders and cardiac disorders, there is an increased demand for digital X-ray devices globally. As per American Heart Association in 2017, approximately 17.8 million deaths occurred due to cardiovascular diseases in the United States and this number is expected to grow to more than 22.2 million deaths by 2030 in the United States. The increasing incidence of cardiovascular diseases surges the demand for imaging devices with precise diagnosis and hence digital x-ray systems acquire its importance in this context.

The demand for this digital x-ray is increasing due to the rising cases of cancer globally. According to the Cancer Research UK, the population suffering from cancer is expected to increase in the future. As per its 2018 report, if recent trends in incidence of major cancers and population growth, it is predicted that there will be 27.5 million new cancer cases worldwide each year by 2040. This is an increase of 61.7% from 2018, which is expected to be higher in males, with a rise of about 67.6%, compared to females, with an estimated rise of 55.3%.​This factor is expected to increase the demand for the digital x-ray market in the forecast period.

​Also, in Nov 2020, Hologic, Inc., received a CE mark for its Genius Digital Diagnostics System, which consists of a digital imager for image acquisition, an AI algorithm for analyzing images, an image management server for storing images for Cervical Cancer Screening. Thus, all the aforementioned factors are driving the market growth in the forecast period.

Market Opportunities

The increase in adoption of filmless x-rays provides lucrative opportunities for the market in the forecast period. Filmless radiology refers to a hospital or network-wide environment in which film has either completely or mostly been replaced by an electronic system that acquires, archives, and communicates and displays images. New technology is changing the way x-ray images are acquired and viewed. As a result, patients are exposed to less radiation, computers speed analysis, and images can be archived, retrieved, or transmitted electronically.
Filmless x-rays will spur the growth of telemedicine, by which local hospitals can consult with large medical centers. Finally, digital images lend themselves to computer-aided diagnosis and even fully automated screening of routine x-rays such as mammograms. Systems using the new detector are currently limited to investigational use in the U.S.  Electronic storage will save hospitals the enormous space and labor costs now needed to archive and retrieve x-ray films. Although other digital imaging technologies have been tried in diagnostic x-ray machines, their performance is compromised by the inherently small size of their detectors. Charge-coupled devices, for instance, can only be manufactured up to a few centimeters on a side.
AI is expected to find significant applications in the management of patient information generated during diagnosis, processing, and treatment and became the opportunity for the market growth. AI can be incorporated in solutions to help physicians make more informed decisions on disease diagnosis and patient care. It has the potential to not only diagnose patients in the absence of doctors but also augment doctors’ abilities and find and collate key relevant data for patient care.
Currently, R&D activities are being conducted by various companies to provide AI in different imaging modalities, including digital X-ray systems. For instance, in March 2018, Google Cloud researchers, at the EmTech Digital conference in San Francisco, suggested that entire processes in medicine such as analyzing radiological images could be automated using AI.
At the 2017 Health Information and Management Systems Society (HIMSS) annual conference in February, different manufacturers of digital X-ray products showcased the use of AI in different modalities. IBM/Merge, Philips, Agfa, and Siemens have already started integrating AI into their medical imaging software systems.
Systems incorporating AI may offer a paradigm shift in how clinicians work and significantly boost workflow efficiency, while at the same time improving care. These factors will became lucrative opportunities for the growth of the market in the forecast period. Over the past years, the demand for digital x-ray systems has increased significantly, owing to the advent of dental x-ray & digital mammography and wider adoption of portable radiology systems across diagnostic centers. Surge in healthcare expenditure by emerging Asian-Pacific economies, such as India, China, and others, is expected to create new opportunities for digital x-ray market expansion in the forecast period.

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