The Digital X-Ray Systems Market is expected to experience rapid revenue growth, with a projected CAGR of 7.8% during the forecast period. The market size was USD 10.35 Billion in 2022. The increase in the prevalence of chronic diseases, growth in the geriatric population, and technological advancements in the healthcare sector are the main factors driving market revenue growth.
Digital X-rays use less radiation than customary film X-rays and have advantages over conventional X-ray systems, including better image quality, less radiation exposure, and quicker image processing. The increasing prevalence of chronic diseases, particularly cancer, cardiovascular disease, and respiratory disease, is driving demand for digital X-ray equipment. Elderly individuals, who are more prone to chronic illnesses, can benefit from digital X-ray systems as they produce high-quality images with less radiation exposure.
Recent advancements in digital X-ray technology include wireless X-ray systems, portable X-ray systems, and digital X-ray systems with AI capabilities, which have improved efficiency and precision. The demand for portable digital X-ray equipment is expected to increase, as it provides versatility and mobility for use in emergency rooms, ICUs, and isolated locations. The healthcare sector is adopting more digital X-ray devices with AI capabilities, which use ML algorithms to identify and classify medical diseases. However, factors such as the high cost of digital X-ray systems, a scarcity of qualified workers, and ongoing maintenance and calibration requirements could restrain market revenue growth.
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Segments Covered in the Report:
The global market for digital X-ray systems can be analyzed based on various factors, including product type, modality, application, and end-use.
In terms of product type, the market can be divided into two categories: Computed Radiography (CR) and Direct Radiography (DR). CR involves the use of cassettes to capture X-ray images, which are then digitized using a scanner. DR, on the other hand, uses digital detectors to capture X-ray images, making the process quicker and more efficient.
The market can also be analyzed based on modality, with two main categories: fixed and portable. Fixed digital X-ray systems are stationary and typically used in hospitals and diagnostic centers. Portable digital X-ray systems, on the other hand, are designed for use in emergency rooms, intensive care units, and other locations where mobility is required.
In terms of application, the market can be segmented into diagnostic and therapeutic. Diagnostic applications include imaging for the detection of diseases and conditions, while therapeutic applications involve the use of X-rays for treatment purposes, such as radiation therapy for cancer.
Finally, the market can be analyzed based on end-use, with the main categories being hospitals, diagnostic centers, and others. Hospitals are the largest end-users of digital X-ray systems, as they are typically equipped with a wide range of imaging equipment. Diagnostic centers are also significant users, as they specialize in diagnostic imaging and require high-quality equipment to provide accurate results.
Overall, the global market for digital X-ray systems is diverse and complex, with multiple factors influencing demand and usage. The various segments of the market offer opportunities for growth and innovation, as well as challenges related to cost, maintenance, and technical expertise.
Strategic development:
Siemens Healthineers made an acquisition on August 9th, 2019 by acquiring Corindus Vascular Robotics, a company that focuses on robotic-assisted vascular interventions. The aim of this acquisition was to bolster Siemens Healthineers' product portfolio in the digital X-ray systems market and to solidify its position in the interventional radiology market.
Varex Imaging Corporation made an acquisition on May 1st, 2017 by acquiring the medical imaging business of PerkinElmer, which specializes in digital flat panel detectors. The primary goal of this acquisition was to enhance Varex Imaging's product portfolio in the digital X-ray systems market and to solidify its position in the medical imaging market.
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Competitive Landscape:
The global digital X-ray systems market is dominated by several major players, including Agfa Healthcare, Canon Medical Systems Corporation, Carestream Health, Fujifilm Holdings Corporation, GE Healthcare, Hologic, Inc., Koninklijke Philips N.V., Siemens Healthineers AG, Toshiba Corporation, and Varex Imaging Corporation. These companies have a strong presence in the market due to their vast product offerings and diverse customer base.
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