Digital X-Ray Systems Market Growth Opportunities, Future Challenges, Key Players, Trend and Forecast by 2032
The global Digital X-Ray Systems Market size was valued at USD 10.35 billion in 2022, and it is projected to grow at a CAGR of 7.8% during the forecast period. The growth of the market is driven by factors such as increasing prevalence of chronic diseases, rising geriatric population, and technological developments in the healthcare sector. Digital X-rays utilize 70% less radiation than customary film X-rays, require less investments and are simpler to use than conventional film X-rays.
The rising demand for cordless and portable digital X-ray equipment is expected to drive market revenue growth. The healthcare sector is adopting more digital X-ray devices with AI capabilities, which use Machine Learning algorithms to identify and classify medical diseases, enhancing precision of diagnosis. However, the high cost of digital X-ray systems, scarcity of qualified workers, and the requirement for ongoing maintenance and calibration are major factors that could restrain market revenue growth. The global digital X-ray systems market is segmented into Computed Radiography (CR) and Direct Radiography (DR).
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The DR segment accounted for the largest revenue share in the global digital X-ray systems market in 2022 due to faster picture capture times, better image quality, and less radiation exposure to patients. The CR segment is expected to account for a significantly large revenue share in the global digital X-ray systems market during the forecast period because CR systems are less expensive than DR systems, and appropriate for hospitals and other healthcare facilities that cannot afford to invest in expensive DR systems.
The diagnostics segment is expected to register steadily fast revenue growth rate in the global digital X-ray systems market during the forecast period due to benefits these provide over conventional film-based X-ray systems, including diagnosis of numerous illnesses and medical ailments, including fractures, lung infections, dental issues, and cancers.
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Some key companies operating in the global digital X-ray systems market include:
· GE Healthcare
· Siemens Healthineers
· Koninklijke Philips N.V.
· Canon Medical Systems Corporation
· Fujifilm Holdings Corporation
· Agfa-Gevaert N.V.
· Shimadzu Corporation
· Carestream Health, Inc.
· Hitachi, Ltd.
· Samsung Medison Co., Ltd.
These companies are involved in developing and manufacturing digital X-ray systems, and are constantly innovating to introduce new and improved products to meet the growing demand for advanced medical imaging technologies. They also engage in strategic partnerships, collaborations, and acquisitions to expand their market reach and enhance their product offerings.
Driving factors of the Digital X-ray Systems Market:
The global digital X-ray systems market is driven by several factors, including:
· Increasing demand for digital imaging technologies: The demand for digital X-ray systems is growing due to the need for high-quality diagnostic images that can be easily stored, shared, and accessed by healthcare professionals. Digital X-ray systems offer several advantages over traditional X-ray systems, including better image quality, faster image acquisition, and lower radiation exposure.
· Rising incidence of chronic diseases: Chronic diseases such as cardiovascular diseases, cancer, and respiratory diseases are on the rise globally. Digital X-ray systems are used to diagnose and monitor these diseases, which is driving the demand for these systems.
· Technological advancements: The development of new digital X-ray technologies such as wireless X-ray detectors, portable X-ray systems, and digital tomosynthesis is driving the market growth.
· Growing healthcare expenditure: The increasing healthcare expenditure in developing countries is driving the demand for digital X-ray systems. The governments in these countries are investing heavily in healthcare infrastructure to provide better healthcare facilities to their citizens.
· Aging population: The aging population is more susceptible to chronic diseases, which is driving the demand for digital X-ray systems. According to the United Nations, the number of people aged 60 years and above is expected to double by 2050, which is likely to drive the demand for digital X-ray systems.
· COVID-19 pandemic: The COVID-19 pandemic has increased the demand for digital X-ray systems as they are used in the diagnosis and treatment of COVID-19 patients. The pandemic has also highlighted the need for digital healthcare technologies that can be used remotely.
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