Digital Radiology Market to reach US$13.3 bn; Driven by Superior Image Capturing Attributes

Transparency Market Research has published a new report on the global digital radiology market. As per the report, the global digital radiology market is expected to expand at a 5.40% CAGR during the period from 2012 to 2018. The report, titled ‘Digital Radiology Market - Global Industry Size, Market Share, Trends, Analysis, And Forecasts 2012 - 2018’, states that the global digital radiology market is expected to progress from US$9.7 bn in 2012 to US$13.3 bn by 2018.

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As the global economy grows, the effects can be clearly seen on the healthcare industry as medical equipment and devices across the globe are being updated with advanced features for efficient results. With this, the medical equipment market is expected to develop faster in the years to come. Major mergers and acquisitions and investments in the global medical device market are boosting the revenue. Irrespective of the recent economic meltdown, the global medical device market continues to develop faster. Modernization of medical equipment, technological advancements, and enhanced healthcare facilities are some of the factors responsible for the growth and development of the global medical device market. Digital radiology, an important segment of the healthcare and medical devices market, is predicted to expand substantially in the years to come.

Some of the factors responsible for the increased adoption of digital radiology are its image capturing superiority, increased patient throughput, increased spending on healthcare infrastructure, and increased application areas. However, exposure to radiation, the growing need of using safer medical devices, high initial capital investment, and high dependability on digital radiographic programs are some of the factors expected to hamper the growth of the global digital radiology market in the years to come. Further, the high noise of digital equipment due to high pixels and requirement of suitable hard-wires could potentially challenge the global digital radiology market in the coming few years.

The global digital radiology market is segmented on the basis of geography and device. Based on geography, the global digital radiology market is divided into the Middle East and Africa, Latin America, Western Europe, East Europe, North America, and Asia Pacific. Currently, North America holds close to 41.9% of the global digital radiology market. However, going forward, Western Europe, East Europe, and Asia Pacific are expected to contribute considerably towards the growth of the global digital radiology market. In terms of volume, the global digital radiology market is expected to touch 158.2 thousand units by 2018.

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GE Healthcare, Konica Minolta, Inc., Siemens Healthcare, Canon Medical, Fujifilm Holdings Corporation, and Philips Healthcare are some of the leading companies in the global digital radiology market. By device, the global digital radiology market is classified into portable radiography systems, digital detectors, and mobile c-arms. The global digital radiology market is expected to observe a shift from the film-based radiology technique to digital radiology in the next few years owing to benefits such as convenience, speedier and secure data transmission, and better collection and organization of patient information. Innovations in compact and powerful digital medical devices are predicted to propel the global digital radiology market in the near future.

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This release was published on openPR.