The digital X-ray market has been forecast to increase at a compound annual growth rate (CAGR) of 4.51% over the next five years, increasing from a valuation of $3.8 billion in 2013, to hit a market value of $4.82 billion by 2018.
Digital radiography is a form of X-ray imaging, where digital X-ray sensors are used instead of traditional photographic film. Advantages include time efficiency through bypassing chemical processing and the ability to digitally transfer and enhance images.Also less radiation can be used to produce an image of similar contrast to conventional radiography.
Hospital and diagnostic centers are continuously adapting to the change in technology to provide better services for their patients. Concerns over excess radiation exposure, poor image quality, time required, and requirements of large space has forced many to adopt and upgrade into digital X-ray systems.
Advancement and adoption of digital image processing software and picture archiving and communication system (PACS) have enhanced the ability of technicians in providing accurate diagnosis and better service to their patients.
Digital X-ray types are further classified as computed radiography (CR) and digital radiography (DR), while major product segments are segmented into three types, namely, detectors, software and X-ray contrast media.
Detectors are further segmented into flat panel detectors, charge coupled devices (CCD), and complementary metal-oxide-semiconductor (CMOS). Applications are classified as chest imaging, mammography, dental-fluoroscopy, and others (musculoskeletal, whole body, and neonatal imaging).
The growing incidences of chronic disease like tuberculosis, pneumonia and other gastrointestinal disorders are propelling the market in both developed and developing countries.
Demographically, the markets in North America and Europe are expected to remain dominant in terms of market share, while Asia is poised to experience rapid growth. Untapped markets in Asia are expected to offer new growth opportunities through to 2018, with increased expenditure on healthcare infrastructure boosting the healthcare market in China.
For more information on the digital X-ray market, see the latest research: Digital X-Ray Market
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