Global Digital X-ray Devices Market - Segmented by Application, Technology, Portability, End User, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global digital X-ray devices market is expected to witness a CAGR of 10.9% during the forecast period. The growing healthcare budget would positively impact the digital X-ray market in the emerging nations. Thus, manufacturers, such as Siemens Healthcare, GE Healthcare, Philips Healthcare, and Toshiba Medical Systems Corporation, can find significant growth opportunity in the emerging markets.
Increasing Advantages over Conventional X-Rays
The digital X-rays have come up with the new advancements which use sensors instead of the films. The use of digital X-rays has caused the patient’s exposure levels to radiation to decrease and the clarity of the images produced has increased. The images produced can be enhanced and quickly sent for the diagnosis. The digital imaging is also environment-friendly as it lightens the need for the chemicals and disposal of film paper. Digital X-rays save the time for both the patient and the physician, and therefore, are highly preferred. All the abovementioned factors are boosting the growth of the market.
The other factors which are driving the market include the increase in geriatric population, growing occurrences of orthopedic & cancer diseases, and development of technology.
New Sales Affected By Increasing Use of Refurbished Devices
The digital X-ray devices are quite expensive and hence, the sale of new digital X-ray equipment is limited. It is further being affected by the increasing use of refurbished devices by the people. Since refurbished devices cost much lesser, they are preferred more by people and is used in most of the emerging markets. Therefore, the sales of refurbished devices are more which is affecting the market of the digital X-ray devices which is leading to lesser sales of these devices.
Other factors, like the high initial cost of installation, are also restraining the market.
North America is leading the Market
Geographically, North America is the largest revenue contributor to the global digital X-ray devices market and is expected to grow in the coming future. The growth in this region is majorly driven by the factors such as an increase in the aging population and rising number of research activities to develop new as well as advanced digital X-ray products in North America. Germany, being a developed market, holds the largest market share in Europe.
Key Developments in the Market
December 2017: Canon Inc. and Virtual Imaging Inc. have launched the CXDI-710C, CXDI-810C, and CXDI-410C wireless digital radiography (DR) detectors to help streamline the digital X-ray process.
Major Players: CANON INC., FUJIFILM MEDICAL SYSTEMS, GE HEALTHCARE, HITACHI MEDICAL CORPORATION, HOLOGIC CORPORATION, PHILIPS HEALTHCARE, SHIMADZU CORPORATION, SIEMENS HEALTHINEERS, AND TOSHIBA MEDICAL SYSTEMS CORPORATION, amongst others.
Reasons to Purchase this Report
Current and future global digital x-ray devices market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Analysis on the segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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