The global market for digital X-rays is poised for remarkable growth, with estimations pegging it at USD 14.40 billion in 2024 and projected to expand at a robust CAGR of 9.10% over the forecast period, reaching an estimated value of USD 34.50 billion by 2034.
This surge in market size is attributed to several factors, chief among them being the increasing prevalence of chronic diseases such as diabetes, obesity, and hypertension in developed economies. The necessity for frequent diagnostic imaging to facilitate better treatment outcomes has propelled the adoption of digital X-rays. Healthcare providers, both public and private, are recognizing the myriad benefits of digital X-rays over traditional imaging methodologies.
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The incorporation of artificial intelligence allows for more precise and expedited diagnoses, thereby streamlining healthcare delivery and improving patient outcomes. This convergence of cutting-edge technology and healthcare promises a paradigm shift in diagnostic imaging.
With the digital X-ray market on a trajectory of exponential growth, stakeholders across the healthcare spectrum are urged to capitalize on this burgeoning opportunity. From manufacturers to healthcare providers, embracing digital X-ray technology and its synergies with artificial intelligence is imperative for staying at the forefront of medical innovation.
“Companies in the digital X-ray market must embrace emerging technologies such as artificial intelligence to enhance diagnostic capabilities. They must also develop solutions that address the cost concerns of healthcare providers, especially in smaller facilities or developing regions,” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
Key Takeaways from the Market Study:
- The digital radiography segment dominates the global digital X-ray market, expanding at a CAGR of 8.60% through 2034.
- On the basis of modality, the radiography segment is expected to expand at a CAGR of 8.90% over the forecast period.
- The digital X-ray market in the United States is anticipated to grow at a remarkable CAGR of 8.70% through 2034.
- The digital X-ray market in the United Kingdom is estimated to rise at a CAGR of 10.80% through 2034.
- The digital X-ray market in China has the potential to increase at a 9.90% CAGR through 2034.
- The Japanese digital X-ray market is predicted to rise at a 10.40% CAGR through 2034.
- The digital X-ray market in South Korea is very likely to grow at a CAGR of 12.90% through 2034.
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Competitive Landscape:
The market for digital X-rays is highly competitive due to the presence of several companies such as Siemens, Healthineers AG, GE Healthcare, Philips Healthcare, Fujifilm Holdings Corporation, Canon Medical Systems Corporation, etc.
These companies hold a strong position in the international healthcare sector as they cater to the radiography needs of hospitals, clinics, ambulatory surgical centers, etc. Key players in the market are focusing on developing affordable devices to enable smaller clinics with limited financial resources to implement digital X-rays.
Recent Developments:
- In November 2023, Carestream Health introduced Horizon, a compact analog X-ray system customized for small-to-midsized healthcare facilities, offering ease of use and low investment. Featuring a floating tabletop for flexible positioning, the system provides an upgrade path to digital imaging using Focus detectors, overcoming cost barriers for smaller facilities.
- In July 2023, Konica Minolta Healthcare Americas, Inc., expanded Dynamic Digital Radiography (DDR) systems at healthcare institutions such as Appleton Area Health, New Hampshire Neurospine Institute, Zwanger-Pesiri Radiology, and Summit Medical Center. DDR, a breakthrough in X-ray technology, allowed dynamic visualization of anatomical structures during various clinical applications.
- In December 2023, German researchers investigated AI assistance for non-radiologists interpreting emergency chest X-rays. Dr. Jan Rudolph of University Hospital LMU Munich discovered significant benefits for non-radiologists in smaller hospitals, enhancing chest X-ray analysis in emergency settings.
Key Companies in the Market:
- Carestream Health
- Hitachi Medical Corporation
- Shimadzu Corporation
- Agfa-Gevaert Group
- Hologic, Inc.
- Varian Medical Systems
- Konica Minolta, Inc.
- Samsung Medison Co., Ltd.
- Planmed Oy
- MinXray Inc.
- Bennett X-Ray Technologies
- iCRco, Inc.
- Swissray International, Inc.
- Varex Imaging Corporation
- Vieworks Co., Ltd.
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Key Segments in the Digital X-ray Market:
By Modality:
- Radiography
- Fluoroscopy
- Mammography
By Technology:
- Digital Radiography
- Computed Radiography
By End-Use:
- Hospitals
- Diagnostic imaging centers
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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