The Digital X-Ray Equipment Market is on track for a stable and predictable future, according to market forecasts. The market is currently estimated at a value of US$7.58 billion in 2024. Over the next decade, it’s projected to experience a consistent Compound Annual Growth Rate (CAGR) of 2.8%, reaching a projected valuation of US$9.99 billion by 2034. This steady growth indicates a continued reliance on digital X-ray technology as a cornerstone of medical imaging.
The market for digital imaging systems is growing as a result of several factors. Advances in technology, an increase in chronic illness incidence globally, and greater patient awareness of early diagnosis techniques.
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Furthermore, increased product approvals, as well as partnerships and collaborations by key players who are striving to expand their Global Digital X-ray equipment Industry share, and scale up sales of digital X-ray equipment.
For example, Nanox and SK Telcom agreed to collaborate on the deployment of 2,500 Nanoxdigital X-ray Systems in South Korea and Vietnam.
Rising awareness of the availability of portable systems is one of the major factors driving the demand for digital X-ray equipment.
Low cost and ease of use are the primary benefits associated with digital X-rays that are propelling the sales of digital X-ray equipment.
Demand for digital X-ray equipment also scales up as the images are instantly available for distribution to clinical services, eliminating the need for time and physical effort to retrieve film packets.
This factor has a significant impact on the sales of digital X-ray equipment.
A major benefit is patients being exposed to 70-80% less radiation than traditional X-rays, thereby ensuring the safety of pregnant women and patients who are already ill, and the same is expected to accelerate the demand for digital X-ray equipment.
Dentists can now easily recognise oral issues with the help of digital X-rays, which is leading to a decrease in the need for an invasive investigation at the diagnosis stage, thereby surging the sales of digital X-ray equipment.
Furthermore, digital radiography securely stores patient X-rays, resulting in no loss on the part of the holders.
The demand for digital X-ray equipment has been significantly influenced by rising healthcare expenditures made by various governments to advance technological advancements in the sector.
What Factors are Influencing the Global Digital X-Ray Equipment Industry?
The primary factor that is scaling up the sales of digital X-ray equipment is the efficiency of electromagnetic radiations that represent clear digital images through digital X-ray equipment.
The rise in demand for digital X-ray equipment is also attributable to quick healthcare delivery, improved workflow and the safety associated with digital X-ray radiations for living tissues.
The sales of digital X-ray equipment are majorly driven by novel technological advancements, increasing healthcare expenditure, a rise in the ageing population and disease prevalence.
The digital X-ray equipment market is also witnessing a highly competitive scenario that has led to a large number of improved digital X-ray equipment launches where key players are focusing on raising their Global Digital X-ray equipment Industry share.
Moreover, digital X-ray equipment is less expensive yet more efficient than other radiography equipment, in turn driving the demand for digital X-ray equipment.
The adoption of digital X-rays is expected to broaden thereby spiking the sales of digital X-ray equipment as digital X-ray equipment is based on the transmission of the X-ray beam, which exposes only the surfaces of the human anatomy under observation.
What is the Scope of the Global Digital X-Ray Equipment Industry?
Digital X-ray equipment delivers medical imaging in the standard safety radiation dose and is widely used in the imaging of all human body tissues, which is expected to raise the demand for digital X-ray equipment.
Digital X-ray equipment has become a part of routine check-ups, thereby facilitating huge sales of digital X-ray equipment.
One of the most promising areas of health innovation is the use of artificial intelligence (AI), particularly in medical imaging, which is expected to drive the demand for digital X-ray equipment to a large extent.
In this regard, many ongoing research and development programmes have aided various companies to acquire a large Global Digital X-Ray Equipment Industry share.
Various companies are currently conducting R&D activities to provide AI in various imaging modalities, including digital X-ray systems to enlarge digital X-ray equipment market share.
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Who are the Key Players Involved in the Digital X-Ray Equipment Market?
Some of the key players in the Global Digital X-ray equipment Industry are Siemens AG, Philips Healthcare, Canon USA Inc., Shimadzu Corporation, GE Healthcare, Varian Medical Systems, and Agfa-Gevaert N.V. Healthcare.
Hitachi Medical Corporation, Toshiba Medical Systems, Fuji Medical Systems, and China Resources Holding Medical Equipment Company Limited are some other major Global Digital X-ray equipment Industry players.
The competition in the digital X-ray equipment market is primarily based on technological advances in digital X-ray equipment and the pricing of digital X-ray equipment.
The demand for digital X-ray equipment is largely driven by technological advancements and the cost of digital X-ray equipment.
In addition, to secure a major Global Digital X-Ray Equipment Industry share globally, the key players have engaged in various strategic alliances such as acquisitions, collaborations, and the launch of advanced products.
Key Companies Profiled in the Digital X-Ray Equipment Market
- Siemens AG,
- Philips Healthcare,
- Canon USA Inc.,
- Shimadzu Corporation,
- GE Healthcare,
- Varian Medical Systems,
- Agfa-Gevaert
- N.V. Healthcare.
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Digital X-Ray Equipment Market Key Segments:
Applications:
- Orthopaedic
- Cancer
- Dental
- Cardiovascular
- Other Applications
By Technology:
- Computed Radiography
- Direct Radiography
- By Portability:
- Fixed Systems
- Portable Systems
By End User:
- Hospitals
- Diagnostic Centres
- Other End Users
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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 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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