The global digital x-ray market size to cross USD 17 billion by 2025, growing at a CAGR of over 7% during the forecast period. Increasing advances in technology and the growing popularity of portable/mobile X-ray devices are expected to fuel the market growth. The emergence of artificial intelligence (AI) and robotic-enabled medical X-ray systems will drive future growth.
Arizton further estimated that the emergence of AI and robot-enabled digital X-ray systems would drive the global digital X-ray market growth. Moreover, the industry is currently benefiting from the shift toward precision medicine and the use of medical X-ray devices in therapy and diagnosis. Moreover, intervention is also expected to drive the growth of the digital X-ray devices market. For instance, Siemens Healthineers offers the Artis series for interventional imaging for clinical needs in radiology, cardiology, and other surgeries.
The coronavirus pandemic has since spread rapidly in breadth and depth to the rest of the world. The increased strain the disease has placed on healthcare systems worldwide is being realized in many countries. The pandemic is likely to have a profound impact on computed radiography practices across many countries globally. Social distancing coupled with lockdown recommendations in most of the countries to minimize the transmission of coronavirus has led to decreased demand for certain health care practices such as medical imaging. As a result of the COVID-19 pandemic, several general radiology departments have experienced a rapid decline in the volume of imaging cases.
GLOBAL DIGITAL X-RAY MARKET SEGMENTATION
This research report includes a detailed segmentation by
The Global General Radiography Market is Expected To Grow at a CAGR Of Over 6% During the Forecast Period
General radiography with advanced digital X-ray devices offers faster scanning, increased patient throughput, and better image quality. Digital general radiography uses much less radiation and the images can be enhanced using computers. The digital X-ray imaging market for general radiography offers many advantages including a wider dynamic range and the ability to manipulate the images generated. The wider dynamic range offers acceptable image quality at a range of dose levels, and thus repeat exposures and any biological risks to the exposed individual can be reduced. Therefore, owing to these advantages along with the rising need for disease diagnosis, the segment is witnessing higher uptake of general radiography application. With the rising incidence of diseases associated with heart, lung disorders, osteoporosis, coupled with the growing elderly population globally, the segment is estimated to witness healthy growth over the forecast period.
The global interventional radiography/radiology segment accounted for 30% of the global digital x-ray market share in 2019. The increased application of digital radiography encompasses many more specialties, including oncology, cardiology, and neurology, which is expanding heavily throughout the healthcare sector. Therefore, modern technology-enabled interventional radiography devices along with their dose management capabilities as a large part of the core imaging improvements are propelling the market growth.
The Mobile Portability Segment is Expected to Witness the Highest Growth Rate during the Forecast Period
The rise in the patient pool, coupled with the growth in the geriatric population, technological advancements is contributing to the growth of the segment. Static digital X-ray devices offer appropriate image interpretation and clinical action due to an increase in communication between the attending professional and the radiologist within the same room. However, static systems need heavy and costly apparatus. Such expenses normally restrict their use in academic & research institutes, which is likely to witness slow growth during the forecast period.
In 2019, the mobile/portable segment accounted for over 35% share. Across the healthcare industry, the popularity of mobile/portable digital X-ray devices is increasing, as the demand is growing to get care out of fixed X-ray rooms. Radiography has recently focused on increasing the patient throughput with high-quality imaging and improved quality of care. Such conditions have contributed to the rise of mobile digital X-ray systems, which are helping streamline operations throughout healthcare facilities. Mobile X-ray devices have been useful tools for the diagnosis and monitoring of patients particularly in intensive care units (ICUs), nursing homes, prisons.
The Hospitals End-User Segment is Expected to Witness an Incremental Growth of over 2.5 Billion by 2025
The hospital end-users segment is likely to witness an absolute growth of over 49% during the forecast period. However, hospitals are considered as the traditional healthcare providers of digital X-ray procedures and the volume is high, especially in developing countries. The growth is primarily due to the adoption of advanced digital X-ray devices as the majority of patients with high risk/complexity of diseases preferring hospitals for treatment due to advanced infrastructure facilities available in major private and public hospitals.
In 2019, the diagnostic imaging centers segment accounted for over 30% share of the global digital x-ray market. Generally, diagnostic centers are freestanding medical imaging facilities that perform a variety of non-invasive procedures to determine the causes of any injury or illness and to confirm the diagnosis. Diagnostic imaging centers stand alone at the forefront of medical imaging procedures and provide a wide range of medical imaging, ranging from digital X-rays, fluoroscopy to mammography. Therefore, the rising advantages of digital X-rays to diagnose diseases of the growing patient population worldwide is driving the growth of the segment.
Digital X-rays under dental care settings are majorly used in dental clinics, orthodontic, and endodontic clinics. The growth of the segment is primarily attributed to the increasing number of private dental clinics as well as solo dental practices especially in developing and emerging countries.
The Asia Pacific Is Projected To Witness The Highest Growth Rate During The Forecast Period
The growth in the geriatric patient population in North America provides a major impetus to the growth of the digital x-ray market. The increased healthcare spends by the population in countries including the US and Canada is further propelling the growth of the digital x-ray market. Moreover, due to the recent COVID-19 pandemic hitting hard in the North American population with around 3.97 million confirmed cases as of 21st July 2020, in the US alone, there is a surge in demand for digital imaging using X-ray and CT systems among healthcare professionals for disease diagnosis. North America is characterized by the high penetration of advanced treatment solutions for chronic and acute diseases. Also, with the highly structured healthcare industry, early adoption of IR/IRX devices, and increasing demand for MI procedures, North America offers tremendous growth opportunities. Hence, the market is expected to grow during the forecast period.
APAC is projected to witness the highest growth rate during the forecast period on account of the presence of a large pool of patient population with various acute and chronic diseases, and improvements in healthcare expenditure. • The X-ray market in India is expected to grow at a CAGR of over 8.50% during the period 2019–2025 to diagnose increasing lung infection due to the outbreak of the COVID pandemic.
INSIGHTS BY VENDORS
The global digital x-ray market is highly competitive, dynamic, and characterized by the presence of many global, regional, and local vendors offering a diverse range of static and mobile devices for numerous applications to the end-users. Strategic partnership, capacity expansion, innovations in technology, and differentiated products have fueled growth in recent years. New product launches, latest generation technology adoption, collaborations will be crucial for companies to maintain revenue growth in the coming years. Siemens Healthineers, GE Healthcare, Koninklijke Philips, Canon Medical Systems, Fujifilm, and Carestream Health have demonstrated consistent growth over the last few years. Moderate to high growth of major players will continue to boost the global market growth for digital X-ray devices.
The digital x-ray market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Segmentation by Application
- General Radiography
- Interventional Radiography
- Dental Imaging
- Diagnostic Imaging Centers
- Dental Care Settings
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia