Global Digital Radiology Market was valued at US$ 7.6 Bn in 2017 and is expected to reach US$ 18.2 Bn by 2026, at a CAGR of 11.53% during a forecast period.
Growing health consciousness and increasing awareness about the same are contributing towards global growth of the diagnostics market. Also, digitization in the healthcare sector is easing patient diagnosis, providing accurate and faster test results. X-ray is the most conventional and actual diagnostic tool, digitization in the X-ray system has increased a strong foothold in diagnostic laboratories across the world.
Additionally, with more research in this field, the introduction of mobile digital x-ray systems have further improved the digital radiology market globally. Digital radiology finds application in orthopedic, dental, chest imaging, and mammography. Ease of operating with mobile systems, growing demand for portable and mobile equipment is rising rapidly in the digital x-ray market. The rapidly declining user base of analogue systems would further contribute towards the growth of the digital radiology market.
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However, High installation cost of digital radiology systems is the major restraint factor of the digital radiology market. Advancements in software technology used to transmit imaging data and an increase in the acceptance of modern healthcare technologies are the opportunities given by the market.
Stationary digital radiology segment accounted for a major market share in 2017, because of their widespread application, high adoption of stationary systems in hospitals, and less exposure to radiation. Stationary digital radiology systems are extensively used in hospitals and advanced diagnostic centers, so contributing to market growth. This is attributed to low exposure to X-ray radiation throughout imaging and high-quality images.
Diagnostic centers segment is expected to hold the maximum market share in the digital radiology market during the forecast period. This is owing to the high prevalence of diseases and high adoption of technologically advanced digital radiology devices.
North America has dominated the growth in digital radiology market followed by the APAC and Europe region. The factors, like increased risk of chronic diseases such as chronic respiratory, orthopedic disorders, dental issues, growing investments in R&D activities and growth in aged populations are driving the growth of digital radiology market in North America region. In the APAC region, the quick growth of the healthcare industry and rise in the incidence of chronic diseases especially in India and China, and shifting trend of citizens towards digital radiology has improved the demand for digital radiology devices.
Some of the major prominent players including in the global digital radiology market. Philips Healthcare is one of the major players in the market. Philips Healthcare Informatics, Inc. grows and distributes enterprise-wide medical image and information management solutions. It proposals iSite PACS, an enterprise-wide medical image and information management system and radiology reading stations for radiologists.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Digital Radiology Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Digital Radiology Market.
Scope of the Global Digital Radiology Market
Global Digital Radiology Market, By Product
o Ceiling-Mounted Systems
o Floor-To-Ceiling Mounted Systems
• Portable Digital Radiology Systems
o Handheld Radiology Systems
o Mobile Radiology Systems
• Direct Digital Radiology
• Chest Imaging
• Dental Imaging
• Mammography Imaging
• Orthopedic Imaging
• Diagnostic Centers
• Asia Pacific
• Middle East and Africa
• South America
• General Electric Company
• Konica Minolta, Inc.
• Canon Inc.
• Siemens Healthcare
• Philips Healthcare
• Agfa-Gevaert Group
• Carestream Health
• Hitachi Medical Corporation
• Shimadzu Corporation
• Koninklijke Philips N.V.
• Varian Medical Systems
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