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Digital X-Ray Market: Forecast to 2018

Global digital x-ray market: $4.8 billion industry by 2018


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2014-02-18 02:47:01 - Digital X-Ray Market: Forecast to 2018 - a new market research report on companiesandmarkets.com

The global digital X-ray market has been estimated at $3.8 billion in 2013, and is expected to grow at a CAGR of 4.51% from 2013 to 2018. By 2018, the industry is forecast to be worth $4.82 billion. Digital radiography, the fastest-growing segment with a CAGR of 5.43%, is expected to grow rapidly and supersede computed radiography (CR) over the next decade. Developing countries play a vital role in the growth of the digital X-ray market, as the market in developed nations has reached a saturation point.Asia, which accounts for two-third of the worlds population, has potential to overtake North America and Europe as the major market over the next decade. Adoption of new technology in these regions is on

 

 

the rise, as consumers are more aware about current trends and technology advancements.Radiography is the largest segment in the $15 billion medical imaging market with products in technology categories such as analogs, computed radiography, digital radiography, C-arm and fluoroscopy. It is the most common and basic medical imaging technique used in medical diagnosis.The digital X-ray market is broadly segmented into types, major product segments, and applications.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).Computed radiography accounts for more than 70% market share in the digital X-ray market. Cost is a major advantage in the growth of the segment. Digital radiography costs more than computed radiography and has few advantages over the latter. Adoption of digital radiography in North America and Europe is very high, resulting in high market share in these regions.Europe has a high adoption of digital X-ray systems; it accounts for 28% market share of the global digital X-ray market. Countries like Germany, The Netherlands, U.K. and France has more than 70% adoption of digital X- ray systems, the region is expected to grow at a CAGR of 3.09%. Due to weak economic conditions, healthcare budgets have been reduced, forcing several hospitals and health institutions to postpone upgradation of old X-ray units to digital. In the RoW market, Australia, Brazil, Russia and countries in the Middle East are major markets, estimated to grow at a CAGR of 5.45%; it is the fastest growing market after Asia.Key players include Agfa HealthCare, (Belgium), Canon U.S.A (U.S.), Philips Healthcare (The Netherlands), Siemens Healthcare (Germany), CareStream Health (U.S.), Fujifilm Medical Systems, Inc (U.S.), GE Healthcare (U.K), AC X-ray Corp. (US), Imaging Dynamic Company (Canada), Konica Minolta (U.S.), Swiss Ray International (U.S.) UMG/DEL Medical (U.S.), Varian Medical Systems (U.S.), and iCro, Inc. (U.S.).

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