Technology Advancement Boosting Digital X- Ray Devices Industry by 2022
Orbis Research Tuesday, March 7th, 2017
The Global digital X-ray market at an estimated $ 4,687million in 2014 and expected to reach $ 8,710 million by 2019 at a CAGR of 13.2 %. The global X- ray market is dominated by computer radiography x-ray systems by technology because of the fact that they are relatively less expensive than digital radiography x-ray systems and entail less re-training of medical practiotioners.
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The global X-ray market is driven by factors such as technological advancements, government investments, aging population, growing of diseases requiring diagnosis, and rise in the number of regulatory approvals. Furthermore, continuous advancements in technology, new and innovative devices launched in the market, are another major factor for the growth of the market.
Lack of reimbursement and regulatory procedures to limit the growth of digital X-ray are the major constraints for the growth of the market. Market is segmented based on application i. e Mammography, Chest imaging, Dental and other applications, based on Technology i. e Computer radiography, Direct radiography, Based on portability i. e Fixed systems, portable systems, Based on products i. e Digital X-ray Systems and components, based on End users Diagnostic centers and Hospitals etc.
Based on geography, the global Digital X-ray Market is segmented into North America, Europe, Asia, and Rest of the World( RoW). North America accounted for the largest share of the market in 2013. This largest share is attributed to the government support in terms of formation of legislation, grants and funding, need for reducing healthcare costs and rising awareness of X- ray imaging. Major players in the market are Canon( Inc.), Carestream Health, Fujifilm medical systems, GE healthcare, Hitachi medical corporation, Hologic Inc., Philips healthcare etc.
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