According to a report published by Fortune Business Insights, titled Digital Radiography Market Size, Share and Global Trend by Product Type (Computed Radiography, Direct Digital Radiography), Application (General, Radiography Dentistry, Oncology, Orthopedic) End User (Hospital, Clinics, Diagnostic Centers) and Geography Forecast till 2026,’ the market is likely to expand at an in impressive rate of 5.0% CAGR due to exceptional advancements made in the field of medical X-Ray technology. The Global Digital Radiography Market is likely to gain significant impetus from recent technological advancements. Fortune Business Insights has predicted a market to reach value of US$ 2,978.3 Mn by the end of 2026. The report has pegged the global market at US$ 1,905.5 Mn in 2018.
Highlights of the Report:
- In-depth analysis of various insights, namely, Digital Radiography Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and Digital Radiography Market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
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Key Players Operating in The Digital Radiography Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Varex Imaging Corporation
- Agfa- Gravaert Group
- FUJIFILM Holdings America Corporation
- Konica Minolta Business Solutions U.S.A., Inc.
- Canon Solutions America
- KA Imaging Inc.
- Imaging Dynamics Company Ltd.
- Detection Technology Plc.
- Hamamatsu Photonics K.K.
- Teledyne Digital Imaging Inc.
- Other players
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
Drawbacks of Film-Based Processing to Increase Demand for Digital Radiography
Conventionally used film based image processing possessed several drawbacks. These drawbacks included long time for processing, inefficient diagnosis, and unclear images. Furthermore, some film-based x-ray image processing machines contained a lot of space and were naturally heavy to carry and relocate.
Thus, the need and demand for portability was a key factor creating growth opportunities for the digital radiography market. The aforementioned factors led to the demand for a portable radiography device, wherein the machine could be carried to patients and not the vice versa. Digital radiography equipment sufficed all such needs and thus, they have been widely adopted by end-users, globally
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Rising Geriatric Population: A Major Driving Force
The increasing geriatric population is one the key factors giving tailwinds to the growth of the Digital Radiography. According to the report, pace of gains for the market will accelerate in response to the increasing geriatric population. Among all age groups, aged people are most vulnerable to chronic diseases, as their immunity decreases with time.
Furthermore, their mobility is often compromised with due to prolonged illness, which also mars their ability to travel to hospitals, diagnosis centres, or clinics Thus, the demand for digital radiography devices is likely to remain high among geriatric population.
Global Digital Radiography Market Segmentation
- Computed Radiography
- Direct Digital Radiography
- General Radiography
By End User
- Diagnostic Centers
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)