Digital Radiology Market Analysis | 2022-2028

“The Digital Radiology Market was estimated at US$ 4.06 billion in 2021 and is expected to grow at a CAGR of 6.93% during 2022-2028 to reach US$ 6.51 billion in 2028”.

Wish to get a free sample? Register Here

Market Dynamics

Introduction

Digital radiography is a type of radiography that transfers data from the patient examination directly to a computer system without the use of a normal cassette using x-ray-sensitive plates. A phosphor imaging plate is used in the computed radiography process to produce a digital image. Like the analog film, CR utilizes cassette-based technology. The photos are automatically transferred to a computer using DR technology.

Market Drivers

Increasing digitization in the healthcare industry makes patient diagnosis simpler and delivers reliable test results quickly. X-rays are an effective diagnostic tool, and their digitalization has given them a solid foundation in diagnostic labs all around the world. The market for digital radiography has also grown as a result of the installation of mobile digital X-ray systems. Dental, orthopaedic, mammography, and chest imaging are just a few fields where digital radiography is widely used. The digital radiography market is expanding quickly as a result of advantages like the simplicity of running mobile systems and the rising need for portable and mobile equipment.

There could be many different issues in geriatric population disease diagnosis, thus doctors prefer to use cutting-edge equipment to look at them. As a result, the need for radiography detectors is greater among the elderly population. These elements are expected to favorably fuel the global market for digital radiography. There are some obstacles and limitations that will prevent the market from expanding. The market's growth is being constrained by issues including the high cost of digital X-ray systems. Additionally, increasing radiation-related negative effects on patients and radiologists could impede the global digital radiography market's overall expansion. However, due to ongoing technological advancements, the creation of AI-based digital X-ray systems, and unrealized promise in emerging markets

Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market. Some of them are:

As new technologies are developed, it is projected that the market for digital radiology will expand. Additionally, factors including the development of more powerful technology, less radiation exposure, and high-quality images provided by that technology are propelling the market's expansion. However, the risk of excessive radiation exposure and high installation costs for fixed digital radiography equipment is limiting market expansion. Additionally, drivers for supporting the market's growth include small devices, an increase in R&D activity in this area, awareness through conferences and programmes, and a rise in acceptance of portable digital radiology systems.

Recent Product Developments

There is stiff competition in the digital radiology market. The market's leading players can concentrate on creating sophisticated products that provide efficient outcomes. For example:

• In July 2022, Royal Philips, a world pioneer in health technology debuted its award-winning AI-powered systems and solutions at the European Congress of Radiology.
• In February 2022, the DRX Compass, a precise, practical, and adaptable digital radiological system created to give radiologists a completely new level of efficiency, was launched by Carestream Health India. The DRX Compass gives radiology facilities complete control over how they can employ this future-proof digital radiology technology by enabling them to create the desired configuration from a variety of detectors, tubes, generators, tables, and collimators.
• In December 2020, the OMNERA 500A Digital Radiography system, which has expanded intelligent auto-positioning capabilities to enhance workflow, was released by Canon Medical System USA, Inc.
• In August 2020, the SOLTUS 500 Mobile Digital X-ray system, which features advancements that can help speed up bedside inspections and increase workflow and productivity, was announced by Canon Medical USA.
• In April 2019, Direct Conversion, a prominent manufacturer and distributor of linear array digital detectors based in Stockholm, was successfully acquired by Varex Imaging Corporation.
• In July 2018, Hologic purchased Faxitron Bioptics. The leader in digital specimen radiography is Faxitron Bioptics. Due to this acquisition, Hologic was able to grow its interventional breast business.
• In May 2018, Siemens Healthineers and ScreenPoint Medical worked together. Siemens was able to develop AI-based breast imaging products because of this collaboration.
• In April 2018, Konica Minolta, Inc. unveiled the KDR Primary Digital Radiography System.
• In March 2018, Hologic and Philips announced their partnership. Through this partnership, both businesses were able to increase the scope of their product lines by providing integrated suites of diagnostic imaging modalities, cutting-edge informatics, and services for thorough breast screening and diagnosis.
• In 2017, the CXDI-710C, CXDI810C, and CXDI-410C wireless digital radiography (DR) detectors were introduced by Canon USA and Virtual Imaging Inc. to help with the modernization of the digital X-ray process.

Segments Analysis

By Product Type

“The direct radiography category is expected to dominate the market share during the projected period”.

The market is bifurcated in direct radiography and computed radiography. The direct radiology segment is further divided into charged couple device (CCD), and flat panel detector. During the anticipated period, the direct radiography category will hold the biggest market share. The factors boosting demand for this market segment include better medical evaluation, superior and more accurate image capturing, and higher contrast detectability.

Want to get more details about the segmentations? Register Here

By Application Type

“The cardiovascular imaging segment is projected to lead with the highest market share during the forecast period”.

The digital radiology market has been divided into chest imaging, cardiovascular imaging, dental, orthopedic, mammography, and others. The market segment with the greatest share over the projection period is cardiovascular imaging. X-rays show enlarged hearts, which are symptoms of heart failure or heart valve dysfunction. X-rays can diagnose constrictive pericarditis by spotting calcium buildup in the sac that surrounds the heart.

By End-User Type

“The diagnostic clinic segment, already the market leader, is set for the highest growth rate during the projection period”.

The hospital sector led the global market in terms of end users. The market has been divided into several sub-segments, including hospitals, diagnostic clinics, and others. The diagnostic clinic segment, which currently has the biggest market share, is anticipated to grow at the highest rate throughout the projection period. The variables that contribute to an increase in the elderly population and the ensuing rise in the incidence of diseases around the world increase demand for this market segment.

Regional Analysis

“Asia-Pacific has the largest market share during the forecast period”.

The digital radiology market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific holds the biggest market share. The aging population, especially in Japan, rising disposable incomes that make cutting-edge technology more accessible, and an increase in the prevalence of target diseases will all drive growth in the APAC region market. The rising costs of healthcare in emerging Asian-Pacific economies like China and India are driving up demand worldwide. Additionally, there is a growing elderly population in many parts of the world, thereby driving growth.

Key Players

The overall competitive landscape has been affected due to these mergers and acquisitions. The following are the key players in the Digital Radiology Market (arranged alphabetically)

• Agfa-Gevaert Group
• Canon Inc.
• Carestream Health
• Detection Technology
• Fujifilm Holdings Corporation
• GE Healthcare (General Electric Company)
• Koninklijke Philips N.V.
• Medtronics
• Protec GmbH & Co. KG
• Samsung
• Shimadzu Corporation
• Siemens
• Varian Medical Systems, Inc.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research:

Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.