Transparency Market Research has published a new report on the global digital radiology market. As per the report, the global digital radiology market stood at US$9.7 bn in 2012 and is expected to reach US$13.3 bn by 2018. The report, titled ‘Digital Radiology Market – Global Industry Size, Market Share, Trends, Analysis, And Forecasts 2012 – 2018,’ states that the global market is predicted to expand at a 5.40% CAGR from 2012 to 2018. Image capturing superiority of new digital radiology devices, high expenditure on healthcare infrastructure, availability of new devices at affordable price, and increased patient throughputs are some of the factors expected to drive the global digital radiology market in the near future.
Digital radiology or digital radiography is a kind of X-ray imaging, where digital X-ray sensors are used to capture images. Time efficiency and the capacity to digitally transfer images are two of the major advantages of digital radiology. Digital radiology uses digital image capturing devices instead of a traditional X-ray film, thus lending the advantage of immediate image preview.
As the global economy is growing steadily, the global medical devices market is experiencing significant growth with new acquisitions and investments taking place. Regardless of the recent global economic meltdown, the global medical devices market is witnessing steady growth. Modernization and technical advancements are the primary factors predicted to propel the global medical devices market in the near future. The entry of new companies has invited many growth opportunities in the global medical devices market, digital radiology being one of the fastest growing segments. Digital radiology is a crucial segment of the healthcare and medical equipment market.
The increased application of digital radiology in minimally invasive procedures is predicted to propel the global digital radiology market in the near future. In terms of volume, the global market for digital radiology is expected to reach 158.2 thousand units by 2018. However, factors such as the high initial cost of installment, the high number of pixels causing high noise, the increasing dependability on digital radiographic viewing programs, and radiation exposure affecting patients during radiological examination are expected to hamper the growth of the global digital radiology market in the near future.
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The global digital radiology market is segmented on the basis of region and device type. Based on device type, the global digital radiology market is classified into digital detectors, portable radiography systems, and mobile c-arms. With constant developments, imaging modalities now have a greater application scope. Newer digital radiology procedures such as MRI angiography and MRI spectroscopy have created many growth opportunities in the global digital radiology market. MRI angiography helps in developing 3D images of various body parts and MRI spectroscopy helps in distinguishing between malignant and benign lesions. During the past few years, leading players have been concentrating on developing harmless imaging devices. This has resulted in the increasing acceptance of highly advanced medical equipment.
By geography, the global digital radiology market is divided into Europe, North America, Asia Pacific, and Rest of the World. North America held a share of 41.9% in the global digital radiology market in 2012 and is expected to maintain its dominance in the years to come.
Some of the prominent players operating in the global digital radiology market are Fujifilm Holdings Corporation, GE Healthcare, Konica Minolta, Inc., Canon Medical, Siemens Healthcare, and Philips Healthcare.
Key Segments of Global Digital Radiology Market
Major geographies analyzed under this research report are:
- North America
- Rest of the World
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