The report "Digital X-ray Market by Portability (Fixed, Portable), Applications (Orthopedic, Dental, Diagnostic, Cancer, Pediatric), Technology (Direct, Computed), System (Retrofit, New), End Users, Price Range, Type, and Region - Global Forecast to 2029", is projected to reach USD 6.6 billion by 2029 from USD 5.4 billion in 2024, at a CAGR of 4.0% from 2024 to 2029.
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200 Market Data Tables
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Some of the prominent key players are:
Siemens Healthineers (Germany),
GE Healthcare (US),
Koninklijke Philips N.V. (Netherlands),
FUJIFILM Holdings Corporation (Japan),
Canon, Inc. (Japan) and many more......
Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Digital X-ray Market.
Driver: Growing geriatric population and subsequent growth in disease incidence
Rapid growth in the global geriatric population is an important cause for the rising incidence of target diseases. According to the United Nations (UN), in 2019, there were approximately 703 million people aged 65 or older globally, and this population segment is projected to reach 1.5 billion by 2050. According to the ‘World Population Prospects: the 2019 Revision’ data, one in six people in the world will be over age 65 by 2050. The number of persons aged 80 years or over is projected to triple, from 143 million in 2019 to 426 million in 2050.
Opportunity: Development of AI-based digital X-ray systems
The development of AI-based digital X-ray systems presents a significant opportunity for the digital X-ray market on multiple fronts. Firstly, AI integration enhances diagnostic accuracy and efficiency by enabling automated analysis of X-ray images, aiding radiologists in detecting abnormalities and making more informed decisions. This increased accuracy can lead to earlier detection of diseases, improving patient outcomes and reducing healthcare costs associated with missed diagnoses or unnecessary procedures. Secondly, AI algorithms can optimize imaging parameters and enhance image quality, resulting in clearer and more detailed X-ray images, which can further aid in diagnosis and treatment planning.
Market Segmentation: -
Based on the technology, the global digital X-ray market is segmented into direct and computed radiography. The direct radiography segment is anticipated to register the highest growth rate over the forecast period. DR systems offer superior image quality to traditional film-based systems, leading to better diagnostic accuracy and patient outcomes.
Based on application, the global digital X-ray market is segmented into chest, cardiovascular, diagnostic, dental, cancer, and other applications. The growth in orthopedic application semgent can be attributed to several factors. Firstly, there is a growing incidence of orthopedic conditions, such as fractures, osteoarthritis, and musculoskeletal injuries, driven by factors like an aging population and increasing sports-related injuries.
Based on system, the digital X-ray market is segmented into retrofit and new digital x-ray systems. The hospitals and surgical segment accounts for the largest share of the market in 2022. Healthcare facilities worldwide are increasingly investing in new digital X-ray systems to upgrade their imaging capabilities and replace outdated analog and film-based systems.
The Asia Pacific will witness rapid growth in the digital X-ray market from 2024 to 2029 due to several key factors. Firstly, the region's large and rapidly expanding population, rising healthcare expenditures, and increasing access to healthcare services are driving the demand for advanced diagnostic imaging solutions like digital X-ray systems.
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Recent Developments of The Digital X-Ray Industry:
In March 2021, Koninklijke Philips N.V. (Netherlands)’s CombiDiagnost R90 received US FDA 510(k) clearance for CombiDiagnost R90, a high-end digital radiography-based fluoroscopy system.
In May 2021, Royal Philips (Netherlands) and Viamed (Spain) entered into an agreement with Viamed to install Philips’ diagnostic imaging solutions in clinical centers throughout Viamed’s network, including 11 hospitals and 15 healthcare centers, in the Andalusia, Aragon, Catalonia, La Rioja, Murcia, and Madrid regions of Spain.
One primary driver is the rising patient population and incidence of musculoskeletal disorders and sports-related injuries. Ongoing technological advancements, coupled with favorable government initiatives and investments in healthcare infrastructure, are further fueling market growth. Overall, these factors collectively contribute to the expanding digital X-ray market as it continues to revolutionize medical imaging practices.
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