Digital X-Ray Industry Is Expanding at a CAGR of 8.0% by 2031 | GE Healthcare, Canon, Inc., Carestream Health, FUJIFILM Holdings Corporation

The digital X-ray market was valued at USD 11.4 billion in 2021 and it is anticipated to reach up to USD 24.5 billion by 2031 at a CAGR of 8.0% during the forecast period.

Digital radiology is a radiographic technique that uses X-ray-sensitive plates to capture data directly while patient examination. Digital radiology is an advanced technique of X-ray inspection that produces the radiographic image on a computer. The picture is substituted by the sensor that collects the data in digital radiology. Digital radiology is applied in medical imaging. Digital radiology is suggested as a significant choice for clinical diagnosis, due to high-quality picture processing and less radiation exposure. Manufacturers focus on increasing qualities, comprising contrast, sharpness, and the ability to inspect injuries in real-time. Technological advancements in X-ray imaging improved diagnostic accuracy and minimized radiation dosages.

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Market Trends and Drivers

The continuous technological advancements and product development are boosting the growth of the market. Technological advancements are a crucial factor in the growth of the digital X-ray market. Factors like image quality, image acquisition time, portability, detector form, and software create and rise in the demand for digital X-ray systems. The demand for advanced digital X-ray systems increases owing to benefits like their ability to process large volumes of data and examine patients rapidly. Various companies are developing digital systems with improved performance and efficiency. These systems enable radiologists to address a broad range of clinical applications with diagnostic-quality images and stitching functionality. Innovation and the development of advanced systems help boost the market for digital X-ray systems.

Market Restraints and Challenges

The key factor hindering the growth of the market is the high cost of digital x-ray systems. Digital X-ray systems are priced at a premium and require high investments for installations, which boosts the procedural cost for patients as well. This affects the adoption rate of new systems, especially in emerging economies. Most small and medium-sized hospitals cannot afford these systems, as their budgets are low or restricted. Healthcare facilities that purchase such costly systems often depend on third-party payers (like Medicare, Medicaid, or private health insurance plans) for reimbursements for costs incurred in diagnostic, screening, and therapeutic procedures performed using these systems. The high cost of digital X-ray systems also pushes end users toward refurbished systems, directly affecting the sales of new and advanced systems. This, along with continuous cuts in reimbursements for Digital X-ray scans, prevents imaging centers from investing in technologically advanced Digital X-ray modalities, which hinders the growth of the overall market.

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Market Segments

By Application

• Orthopedic
• Cancer
• Dental
• Cardiovascular
• Others

Major Players in the Global Digital X-ray Market

The key players studied in the global digital x-ray market are Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), GE Healthcare (US), Canon, Inc. (Japan), Carestream Health (US), FUJIFILM Holdings Corporation (Japan), Shimadzu Corporation (Japan), Hologic Inc. (US), Agfa-Gevaert Group (Belgium), Samsung Medison (South Korea), Konica Minolta (Japan), Shenzhen Mindray Bio-Medical Electronics Co. (China), Varex Imaging Corporation (US), MinXray, Inc. (US), and ACTEON (France).

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