The report "Digital X-ray Market by Portability (Fixed, Portable), Applications (Orthopedic, Dental, Diagnostic, Cancer, Pediatric), Technology (Direct, Computed), System (Retrofit, New), End Users, Price Range, Type, and Region - Global Forecast to 2029", is projected to reach USD 6.6 billion by 2029 from USD 5.4 billion in 2024, at a CAGR of 4.0% from 2024 to 2029.
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- 200 Market Data Tables
- 40 Figures
- 300 Pages and in-depth TOC on " Digital
X-ray Market - Global Forecast to 2029”
Some of the prominent key players are:
- Siemens Healthineers (Germany),
- GE Healthcare (US),
- Koninklijke Philips N.V. (Netherlands),
- FUJIFILM Holdings Corporation
(Japan),
- Canon, Inc. (Japan) and many more......
Mergers & acquisitions, investments & expansions,
partnerships & collaborations, and new product developments are some of the
major strategies adopted by these key players to enhance their positions in the
Digital X-ray Market.
Driver:
Growing geriatric population and subsequent growth in disease incidence
Rapid growth in the global geriatric population is
an important cause for the rising incidence of target diseases. According to
the United Nations (UN), in 2019, there were approximately 703 million people
aged 65 or older globally, and this population segment is projected to reach
1.5 billion by 2050. According to the ‘World Population Prospects: the 2019
Revision’ data, one in six people in the world will be over age 65 by 2050. The
number of persons aged 80 years or over is projected to triple, from 143 million
in 2019 to 426 million in 2050.
Opportunity:
Development of AI-based digital X-ray systems
The development of AI-based digital X-ray systems
presents a significant opportunity for the digital X-ray market on multiple
fronts. Firstly, AI integration enhances diagnostic accuracy and efficiency by
enabling automated analysis of X-ray images, aiding radiologists in detecting
abnormalities and making more informed decisions. This increased accuracy can
lead to earlier detection of diseases, improving patient outcomes and reducing
healthcare costs associated with missed diagnoses or unnecessary procedures.
Secondly, AI algorithms can optimize imaging parameters and enhance image
quality, resulting in clearer and more detailed X-ray images, which can further
aid in diagnosis and treatment planning.
Market Segmentation: -
- Based on the technology, the global
digital X-ray market is segmented into direct and computed radiography.
The direct radiography segment is anticipated to register the highest
growth rate over the forecast period. DR systems offer superior image
quality to traditional film-based systems, leading to better diagnostic
accuracy and patient outcomes.
- Based on application, the global digital
X-ray market is segmented into chest, cardiovascular, diagnostic, dental,
cancer, and other applications. The growth in orthopedic application
semgent can be attributed to several factors. Firstly, there is a growing
incidence of orthopedic conditions, such as fractures, osteoarthritis, and
musculoskeletal injuries, driven by factors like an aging population and
increasing sports-related injuries.
- Based on system, the digital X-ray market
is segmented into retrofit and new digital x-ray systems. The hospitals
and surgical segment accounts for the largest share of the market in 2022.
Healthcare facilities worldwide are increasingly investing in new digital
X-ray systems to upgrade their imaging capabilities and replace outdated
analog and film-based systems.
- The Asia Pacific will witness rapid
growth in the digital X-ray market from 2024 to 2029 due to several key
factors. Firstly, the region's large and rapidly expanding population,
rising healthcare expenditures, and increasing access to healthcare
services are driving the demand for advanced diagnostic imaging solutions
like digital X-ray systems.
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Recent
Developments of The Digital X-Ray Industry:
- In March 2021, Koninklijke
Philips N.V. (Netherlands)’s CombiDiagnost R90 received US FDA 510(k)
clearance for CombiDiagnost R90, a high-end digital radiography-based
fluoroscopy system.
- In May 2021, Royal Philips
(Netherlands) and Viamed (Spain) entered into an agreement with Viamed to
install Philips’ diagnostic imaging solutions in clinical centers
throughout Viamed’s network, including 11 hospitals and 15 healthcare
centers, in the Andalusia, Aragon, Catalonia, La Rioja, Murcia, and Madrid
regions of Spain.
One primary driver is the rising patient population and
incidence of musculoskeletal disorders and sports-related injuries. Ongoing
technological advancements, coupled with favorable government initiatives and
investments in healthcare infrastructure, are further fueling market growth.
Overall, these factors collectively contribute to the expanding digital X-ray
market as it continues to revolutionize medical imaging practices.
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