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Digital X-ray Market Outlook: Global Industry Insights, Statistics, Shares and Forecasts to 2023
Digital X-ray Market
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Key Players: Canon Inc. (Japan), Carestream Health (US), Fujifilm Corporation (Japan), GE Healthcare (US), Hitachi Ltd. (Japan), Hologic, Inc. (US), Philips Healthcare (Netherlands), Shimadzu Corporation (Japan), Siemens Healthineers (Germany), Konica Minolta, Inc. (Japan), Samsung Medison Co., Ltd. (Korea), Agfa Gevaert (Belgium).
"The global digital X-ray market is projected to grow at a CAGR of 8.5%"
The digital X-ray market is expected to reach USD 13.04 billion by 2023 from USD 8.68 billion in 2018, at a CAGR of 8.5%. The increasing geriatric population and the subsequent growth in global disease incidence, favorable regulations and government initiatives & investments, the advantages of digital X-ray systems, and technological advancements and product development are driving the growth of the digital X-ray market. On the other hand, market growth may be hindered due to high cost of digital X-ray systems.
"Fixed digital X-ray systems are expected to hold the largest share of the market in 2018."
Based on portability, the digital X-ray market is segmented into fixed digital X-ray systems and portable digital X-ray systems. The fixed digital X-ray systems segment is expected to dominate this market with the largest share due to the availability of cost-effective solutions and the wide application of these systems in diagnostics.
"Retrofit digital X-ray systems are expected to hold the largest share of the market in 2018"
Based on system, the digital X-ray market is segmented into categories--new digital X-ray systems and retrofit digital X-ray systems. The retrofit systems segment is expected to account for the largest share of the digital X-ray market in 2018. Retrofit systems are a more cost-effective alternative to purchasing new digital X-ray systems. As a result, their demand is high among end users.
"Asia to witness high growth during the forecast period"
In 2018, North America is expected to account for the largest share of the market followed by Europe. However, Asia is expected to register the highest CAGR during the forecast period. The high growth in this segment is attributed to the growing geriatric population, particularly in Japan; increasing disposable incomes, allowing for greater affordability to advanced technologies; the rising prevalence of target diseases; and favorable government initiatives.
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In the end, the Global Digital X-ray Market report's conclusion part notes the estimation of the industry veterans.
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