Dublin, Nov. 10, 2020 (GLOBE NEWSWIRE) -- The "Digital X-ray Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Digital X-Ray Market Report
The global digital x-ray market by revenue is expected to grow at a CAGR of over 7% during the period 2019-2025.
The industry is growing at a promising growth during the forecast period. Increasing advances in technology and the growing popularity of portable/mobile X-ray devices are expected to fuel the market growth. Over the years, the digital X-ray devices have made rapid strides, since the integration of the latest technology has made it easy-to-use, safe, and fast.
The emergence of artificial intelligence (AI) and robotic-enabled digital X-ray systems will drive the future growth. Also, the market is currently benefiting from the shift to precision medicine, and an increasing utilization of digital X-ray devices in therapy as well as diagnosis/screening and intervention, is also expected to drive the future market growth of the digital X-ray devices across the globe.
The coronavirus pandemic has since spread rapidly in breadth and depth to the rest of the world. The increased strain the disease has placed on healthcare systems worldwide is being realized in many countries. The pandemic is likely to have a profound impact on digital radiography practices across many countries globally. Social distancing coupled with lockdown recommendation in most of the countries to minimize the transmission of coronavirus has led to decreased demand of certain health care practices such as medical imaging. As a result of the COVID-19 pandemic several radiology departments have experienced a rapid decline in volume of imaging cases.
Global Digital X-Ray Devices Market Segmentation
The global digital x-ray devices market research report includes a detailed segmentation by application, portability, end-user, geography. The global general radiography market is expected to grow at a CAGR of over 6% during the period 2019-2025.
General radiography with advanced digital X-ray devices offer faster scanning, increased patient throughput, and better image quality. Digital general radiography uses much less radiation and the images can be enhanced using computers. Digital X-ray imaging for general radiography offers many advantages including a wider dynamic range and the ability to manipulate the images generated. The wider dynamic range offers acceptable images quality at a range of dose levels, and thus repeat exposures and any biological risks to the exposed individual can be reduced. Therefore, owing to these advantages along with rising need for disease diagnosis, the segment is witnessing higher uptake of general radiography application.
The rise in the patient pool, coupled with the growth in the geriatric population, technological advancements is contributing to the growth of the segment. Static digital X-ray devices offer appropriate image interpretation and clinical action due to increase in communication between the attending professional and the radiologist within the same room. However, static systems need heavy and costly apparatus. Such expenses normally restrict their use in academic & research institutes, which is likely to witness slow growth during the forecast period.
The hospitals end-users segment is likely to witness an absolute growth of over 49% during the forecast period. However, hospitals are considered as the traditional healthcare providers of digital X-ray procedures and the volume is high, especially in developing countries. The growth is primarily due to the adoption of advanced digital X-ray devices as majority of patients with high risk/complexity of diseases preferring hospitals for treatment due to advanced infrastructure facilities available in major private and public hospitals.
The growth in the geriatric patient population in North America provides a major impetus to the growth of the digital x-ray market. The increased healthcare spend by the population in countries including the US and Canada is further propelling the growth of digital x-ray market.
Moreover, due to the recent COVID-19 pandemic hitting hard in the North America population with around 3.97 million confirmed cases as of 21th July 2020, in the US alone, there is surge in demand for digital imaging using X-ray and CT systems among healthcare professionals for disease diagnosis.
North America is characterized by high penetration of advanced treatment solutions for chronic and acute diseases. Also, with the highly structured healthcare industry, early adoption of IR/IRX devices, and increasing demand for MI procedures, North America offers tremendous growth opportunities. Hence, the market is expected to grow during the forecast period.
The global digital x-ray market is highly competitive, dynamic, and characterized by the presence of many global, regional, and local vendors offering a diverse range of static and mobile devices for numerous applications to the end-users. Strategic partnership, capacity expansion, innovations in technology, and differentiated products have fueled growth in recent years. New product launches, latest generation technology adoption, collaborations will be crucial for companies to maintain revenue growth in the coming years.
Siemens Healthineers, GE Healthcare, Koninklijke Philips, Canon Medical Systems, Fujifilm, and Carestream Health have demonstrated consistent growth over the last few years. Moderate to high growth of major players will continue to boost the global market growth for digital X-ray devices.
KEY QUESTIONS ANSWERED
1. What is the market size of the digital X-ray devices market?
2. What are the factors impacting the growth of the market?
3. What are the drivers, trends, and restraints in the market?
4. Who are the leading vendors and what are their market shares?
5. What is the impact of the COVID-19 pandemic on the digital X-ray devices market?
Canon Medical Systems
Other Prominent Vendors
BPL Medical Technologies
Shenzhen Mindray Bio-Medical Electronics
MinFound Medical Systems
New Medical Imaging
Shenzhen Angell Technology
Shenzhen Landwind Industry
Villa Sistemi Medicali
United Imaging Healthcare
For more information about this report visit https://www.researchandmarkets.com/r/hw3720
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900