Digital x-ray systems: Key market research findings
- The Americas dominate the market geographically
- CR technology segment accounts for a majority of the market’s revenue
- Key vendors – Carestream, Fujifilm, GE, Philips, and Siemens
Technavio’s market research analysts predict the global digital x-ray systems market to grow at a CAGR of over 13% between 2016 and 2020. The growth of this market is augmented by the increased need for early diagnosis and preventive medicine. Medical imaging makes it possible to detect and diagnose the disease at its early phase, thereby making it easier physicians to determine the most appropriate and effective care. During 2015, the global digital x-ray systems market was dominated by the Americas with a market share of more than 45%. The rise in the incidence of chronic diseases and other medical conditions such as injuries and accidents in the region will fuel growth in the digital x-ray systems market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the x-ray systems market based on the technology.
“New products that incorporate advanced technologies are expected to revolutionize the digital x-ray systems market during the forecast period. The advance from analog to digital X-rays has resulted in the development of many applications and radiation-based imaging techniques. Also, the efficiency and image quality of X-ray machines have been improved with the introduction of flat panel CR. Vendors are able to generate substantial revenue to through the launch of such products,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
In 2015, the CR technology segment accounted for more than 61% of the overall market revenue to become the dominant shareholder in the global market. This segment of the market is driven primarily by technological advances in automation, growing number of people with chronic conditions, and need for improved and quicker imaging methods. CR technology systems come with several advantages such as lightweight and durability, high-quality images, and cost effectiveness. The rise in prevalence of spinal disorders such as herniated discs, degenerative disc disease, spondylolisthesis, prolapsed intervertebral disc, and spinal stenosis is expected to fuel the demand for DR systems in the market over the next four years.
The key vendors in the global digital x-ray systems market include Carestream, Fujifilm, GE, Philips, and Siemens. Vendors in the market developed digital X-ray systems to overcome certain challenges associated with conventional X-ray systems. The market witnessed the launch of new products that can be used with reduced radiation doses as opposed to conventional systems. The analog X-ray systems are also associated with corded FPD, which may pose a challenge of infection risk to the individual. Eventually, the vendors introduced wireless products that enabled the use of digital X-ray systems without a corded FPD.
A more detailed analysis is available in the Technavio report, Global Digital X-ray Systems Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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