Digital X-Ray Systems Market REPORT OVERVIEW
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The global digital X-ray systems market size was USD 3303.7 million in 2021 and market is projected to touch USD 4906.3 million by 2031 with a CAGR of 4.0% during the forecast period.
The electronic capture of an X-ray exposure is what digital X-ray systems do. An apparatus records the exposure and transforms the X-rays into a digital signal, which is subsequently shown on a viewing monitor for diagnosis. One of two methods, either Computed Radiography (CR) or Direct Digital Radiography (DR/DDR), may have produced the image from a digital X-ray system that is displayed on a viewing monitor.
COVID-19 Impact: Pandemic Augmented Need for Devices
Global healthcare systems have undergone changes and been challenged by the COVID-19 pandemic. Due to quick developments, radiology has significantly enhanced patient care during this crisis. Chest radiography, which is crucial in the diagnosis of COVID-19, was the first imaging procedure that was crucial in the treatment of COVID-19. In addition, the COVID-19 pandemic has increased demand for mobile x-ray systems. Such factors are expected to drive the digital X-ray systems market growth in the coming years.
Latest Trends
"Technological Advancements to Transform Market Outlook"
The digital X-ray systems market is being driven primarily by the rise in demand for chronic disease early diagnosis. Additional factors that are anticipated to support market expansion include ongoing technical developments, an increase in product creation, better funding, and government initiatives, particularly in developing nations like China and India. For instance, the Indian government introduced X-Ray Setu in June 2021 as a free Artificial Intelligence (AI) platform to help physicians with early Covid interventions.
Digital X-Ray Systems Market SEGMENTATION
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- By type
Depending on type, the market given are types: CR Tech Digital X-Ray System and DR Tech Digital X-Ray System.
- By Application
The market is divided into Dental, orthopedics, general Surgery, Veterinarian, and Others.
Driving Factors
"Increasing Cases of Cancer and Orthopedic Disorders to drive Market Growth "
The rise in orthopedic disorders and cancers, the rise in serious injuries, the benefits of digital X-ray systems over traditional X-rays, technological breakthroughs, and product development are just a few of the reasons that have contributed to the digital-ray systems market expansion. Instead of using film to collect images, digital X-ray machines employ digital x-ray sensors. As a result, there is an instant preview of the photos, which enhances time efficiency and the ability to transfer images digitally.
"R&D Activities to Boost Market Size"
Everyone is now concerned about the rising global burden of chronic disease. About 65 million people worldwide suffer from chronic obstructive pulmonary disease (COPD), according to the World Health Organization (WHO) (COPD). On the other hand, using a variety of imaging modalities to discover the issue early can assist stop it from getting worse. The public prefers radiography because it is the most widely used, widespread, and economical diagnostic imaging technique. Due to the rising prevalence of chronic diseases, market participants have been able to invest in medical X-ray equipment research and development.
Restraining Factors
"High Initial Investments and Maintenance Cost to Hamper market Growth"
The market for digital X-ray devices is therefore currently being boosted by all of the aforementioned considerations. However, the expensive costs of installation and equipment, as well as the rising popularity of used equipment, are anticipated to impede market expansion.
Digital X-Ray Systems Market Regional Insights
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"Growing Healthcare Infrastructure to Foster Growth in North America"
The digital X-ray systems market share is the largest in the world. Strong purchasing power, an equitable reimbursement system, the growing acceptance of contemporary technologies, and enhanced healthcare infrastructure are some of the factors influencing the market. For instance, Shimadzu Medical Systems USA announced in August 2021 that Benefits Orthopedic would house the first installation of its RADspeed Pro style version with GLIDE Technology, DR system in North America.
The digital X-ray systems market is anticipated to grow at the quickest CAGR in Asia Pacific during the projected period as a result of the region's booming need for improved imaging tools and encouraging government measures to upgrade its healthcare infrastructure. Growth is anticipated to be fueled by the rapidly expanding economies and bettering healthcare systems in Southeast Asian nations, China, Japan, and India.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by collaborating with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- GE Healthcare (U.S.)
- Siemens Healthcare (Germany)
- Philips Healthcare (Netherlands)
- Fujifilm (Japan)
- Carestream Health (U.S.)
- Agfa HealthCare (Belgium)
- Hitachi (Japan)
- Toshiba (Japan)
- Konica Minolta (Japan)
- Shimadzu (Japan)
- DEXIS (U.S.)
- Source-Ray (U.S.)
- Angell technology (China)
- Wandong Medical (China)
- Mindray (China)
- Land Wind (China)
- Mednova (China)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 3303.7 Million in 2021 |
Market Size Value By |
US$ 4906.3 Million by 2031 |
Growth Rate |
CAGR of 4% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the global digital X-ray systems market expected to touch by 2031?
The global digital X-ray systems market is expected to touch USD 4906.3 million by 2031.
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What CAGR is the digital X-ray systems market expected to exhibit during 2031?
The digital X-ray systems market is expected to exhibit a CAGR of 4% over 2031.
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Which are the driving factors of the digital X-ray systems market?
Increasing cases of cancer and R&D activities is driving the digital X-ray systems market forward.
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Which are the top companies operating in the digital X-ray systems market?
GE Healthcare, Siemens Healthcare, Philips Healthcare, Fujifilm, Carestream Health, Agfa HealthCare, Hitachi, Toshiba, Konica Minolta, Shimadzu, DEXIS, Source-Ray, Angell technology, Wandong Medical, Mindray, Land Wind, Mednova are some of the top companies operating in the digital X-ray systems market.
