Digital X-ray Market

SKU: DMMI2677 | Last Updated On: Oct 19 2022 | Available Formats

> Digital X-ray Market Expected to reach a high CAGR of 7.80% during the forecast period 2022-2029:

Digital X-ray Market is segmented By Product (Computed Radiography, Direct Radiography), By Portability (Portable X-Ray Systems (Mobile X-Ray Systems, Handheld Systems), Fixed Digital X-Ray Systems (Floor-to-ceiling Mounted Systems, Ceiling Mounted Systems)), By Application (Dental, Mammography, General Radiography (Cardiovascular, Orthopedic, Chest Imaging, Others), Fluoroscopy, Others), By End-User (Hospitals, Diagnostic Centers, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Digital X-ray Market Size Share Trends Growth Demand Outlook

The Digital X-ray Market size was valued at USD 10,957.60 million in 2021 and is estimated to reach at a compound annual growth rate (CAGR) of 7.80% over the forecast period 2022 to 2029. Digital X-Ray is an advanced version of the traditional X-ray where the X-ray-sensitive plates are used to capture data. The data is transferred to a computer instead of an intermediate cassette where the image is enhanced accordingly without the need for chemical processing.

Digital X-ray Market study analysis offers an in-depth outlook on the market containing quantitative and qualitative data. It gives an outlook and forecast of the global market based on market segmentation. It also provides global Digital X-ray Market size, and growth, along with the latest trends, opportunities, and forecast till 2029 for the global market with esteem to major countries such as the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European countries, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and rest of the countries over the globe.

Among all regions, the North American region is expected to hold the largest share of the global market over the forecast period. Digital X-ray Market in the United States and Canada produces the utmost share. Whereas the European Digital X-ray Market is projected to continue its presence globally during the period of 2022- 2029.

Digital X-ray Market Report Scope

Metrics

Details

Market CAGR

7.8%

Segments Covered

By Product, By Portability, By Application, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

Digital X-ray Market Growth Drivers, and Opportunities Analysis

The global digital X-Ray market growth is driven by the increasing prevalence of orthopedic disease and cancer cases across the world. In addition, the increasing number of road accidents is also driving the growth of the market in the forecast period.

The increasing technological advancements and product development will drive the market growth

Technological developments are a critical driver in the digital X-ray market's growth. Digital X-ray systems are in high demand due to factors such as image quality, acquisition time, portability, detector form, and software. Benefits such as the ability to analyze massive amounts of data and evaluate patients quickly are driving demand for improved digital X-ray equipment. Several businesses are working on digital solutions that will boost performance and efficiency. With diagnostic-quality images and stitching functionality, radiologists may address a wide range of clinical applications. The market for digital X-ray systems is being boosted by innovation and the development of advanced technologies. The debut of AMX Navigate, a portable digital X-ray system by GE Healthcare in September 2021, is one of the most recent advances in this sector. Similarly, the US Food and Drug Administration granted 510(k) clearance to Koninklijke Philips N.V. in March 2021 for the Combi Diagnost R90, a remote-controlled fluoroscopy system combined with high-end digital radiography. This remains a major driver for the Digital X-Ray Market and is expected to drive the market during the forecast period. However, a stringent regulatory framework coupled with unfavorable reimbursement policies and a low awareness rate among the patient population will hamper the growth of the market in the forecast period.

The high cost of a digital X-ray system is likely to hamper the market growth

Digital X-ray technology is more expensive and requires considerable upfront investments, increasing the cost of the operation for patients. This has an effect on how quickly new systems are implemented, especially in poor countries. Most small and medium-sized hospitals cannot afford these systems due to their limited resources. Healthcare institutions typically use third-party payers (such as Medicare, Medicaid, or commercial health insurance plans) to compensate costs incurred in diagnostic, screening, and therapeutic procedures performed with these systems. Because of the high cost of digital X-ray systems, end users are more likely to purchase reconditioned systems, which has a direct impact on new and advanced system sales.

Digital X-ray Market Segmentation:  

The Portable X-Ray system for the highest share in global Digital X-ray market

Because of the rising demand for patient diagnosis and monitoring in healthcare settings where it is difficult to move patients to the radiology department, the portable systems sector is predicted to grow at the highest CAGR during the forecast period (2021-2028). Portable systems are simple to set up and use, and they are widely available. This X-ray equipment can be put into service with little or no upfront investment. Patients in life-threatening situations who require rapid treatment and may require an on-the-spot diagnosis may benefit from the portable X-ray detectors, which have the ability to overcome geographic restrictions.

Digital X-ray Market Geographical Penetration:

North America is the dominating region during the forecast period.

North America is estimated to hold a major share of the Digital X-Ray Market, and it is expected to show a similar trend over the forecast period. The growing burden of chronic diseases in the region, as well as the increasing usage of advanced technologies in healthcare systems, is driving the digital X-Rays devices market in North America. According to GLOBOCON 2020, there will be 2,281,658 new cancer cases diagnosed in the United States year 2020, with 612,390 fatalities. According to the Arthritis Foundation Fact Sheet, 2019, the number of adults in the United States with doctor-diagnosed arthritis is expected to reach 78.4 million by 2040, accounting for 25.9% of all adults in the country. The increased prevalence of chronic diseases increases the demand for accurate diagnosis and a treatment plan that is both efficient and timely from healthcare providers. Thus, these factors are driving the growth of the market in the North American region.

Digital X-ray Market Competitive Landscape:

The digital x-ray market is highly competitive with the presence of local as well as global companies.  Some of the key players contributing to the growth of the market include Siemens Healthineers, Koninklijke Philips N.V., GE Healthcare, Canon, Inc., Carestream Health, FUJIFILM Holdings Corporation, Shimadzu Corporation, Hologic Inc. Fujifilm Holdings Corporation. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the digital x-ray market globally. For instance,

In Oct 2020, the FDA has approved Siemens Healthineers' Ysio Max digital radiography system, which includes new detectors and usability features that improve imaging and speed up exams.

In Nov 2020, Siemens Healthineers launched a ceiling-mounted digital radiography system Multix Impact C. They also launched a new version of the established floor-mounted parent system named MULTIX Impact VA20.

COVID-19 Impact:

Negative impact on the global Digital X-ray Market

In 2020, the COVID-19 pandemic had a negative impact on the economy and posed numerous obstacles to clinical healthcare practitioners and patients all across the world. COVID-19 has also had an impact on numerous levels of the value chain, owing to the stringent lockdowns imposed by most governments. Due to modern packaging rules and country-imposed lockout procedures, the turnaround time for product and service delivery has also been impacted. All of these variables have a negative impact on digital X-ray system manufacturing and supply chains. COVID-19, on the other hand, has opened up new possibilities for digital X-ray makers and healthcare providers. Chest imaging has been explored as an alternate option for individuals with suspected or probable COVID-19 in situations when laboratory testing (RT-PCR) is not available, or results are delayed or initially negative. Imaging tests such as chest radiography, CT scans, and lung ultrasounds have been used to supplement clinical evaluation and laboratory data in the management of COVID-19 patients. Chest radiography, according to the WHO, can aid in the dynamic evaluation of COVID-19 pneumonia and associated consequences. On a bedside chest radiograph, the resolution or development of lung consolidation can aid caregivers in making better therapeutic management decisions. The management of a pneumothorax or pneumomediastinum might also be aided by chest imaging.

Siemens Healthineers

Overview: Siemens Healthineers AG is a Germany-based company that supplies technology to the healthcare industry. The Company offers a wide range of products and services in the fields of diagnostic and therapeutic imaging, laboratory and point of care diagnostics, and molecular medicine. 

Product Portfolio:

Multix Impact- Multix Impact is a radiographic digital X-ray system developed by Siemens Healthineers. It is an advanced system that is based on integrated intelligence to assist the user. It is economical and effective.

The global Digital X-ray market report would provide an access to approximately 66 market data tables, 61 figures and 170 pages

Frequently Asked Questions

What is the Projected CAGR value of the Digital X-ray Market?

Digital X-ray Market is expected to grow at a CAGR of 7.80% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Digital X-ray Market during 2022-2029

Which is the fastest growing region in the Digital X-ray Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period

Trending Topics

Dental Digital X-ray Market

Portable X-ray Devices Market

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