The Digital X-Ray Market is anticipated to extent at a CAGR of 11.2%, USD 10.46 billion by 2020 from USD 6.15 billion in 2015. The global digital x-ray market is segmented based on application, technology, portability, type of system, end-users, price, and regions. The general radiography segment is expected to register the highest growth rate in the digital x-ray market, by application, during the forecast period. The high growth in this segment is attributed to the increasing new product launches.
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Based on end-users, the digital x-ray market is segmented into diagnostic centers and hospitals. The diagnostic centers segment is expected to account for the largest share of the market in 2015. Increasing prevalence of diseases and the need for diagnosis will drive the growth of this market.
For instance, in October 2015, Siemens Healthcare launched Multitom Rax, a twin robotic X-ray system. High growth potential in emerging markets has opened an array of opportunities for the digital x-ray market. However, factors such as complex regulatory procedures and high cost of digital x-ray is hampering the growth of the market to a certain extent.
Market Drivers of Digital X-Ray Industry:
- Aging population
- Awareness programs and conferences
- Government investments
- Advantages of digital X-ray systems
- Favorable returns on investments, government initiatives to boost adoption
- Technological advancements and product development
Market Restraints of Digital X-Ray Industry:
- Complex regulatory procedures
- High cost of digital X-ray systems
Market Opportunities in Digital X-Ray Industry:
- Development of advanced systems
- Integrated of technologies to provide cost-effective solutions
- Growth potential of emerging markets
Challenges in Digital X-Ray Industry:
- Lack of reimbursement
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Apart from comprehensive geographic and product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by the market players to maintain and increase their shares in the market. The above-mentioned market research data, current market size, and forecast of the future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output in order to remain successful in the market.
Major Key Market Players in Digital X-Ray Industry:
- Siemens Healthcare (A Subsidiary of Siemens Ag)
- Philips Healthcare (A Subsidiary of Royal Philips Electronics)
- Ge Healthcare (A Subsidiary of General Electric Company)
- Shimadzu Corporation
- Toshiba Medical Systems Corporation (A Subsidiary of Toshiba Corporation)
- Canon Inc.
- Carestream Health, Inc. (A Subsidiary of Onex Corporation)
- Fujifilm Medical Systems (A Subsidiary of Fujifilm Holdings Corporation)
- Hitachi Medical Corporation (A Subsidiary of Hitachi Ltd.)
- Hologic, Inc.
Geographically, the digital x-ray market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). Growth in the North American segment is primarily driven by increasing aging population, and technological advancements in the North American countries.
The major factors contributing to the growth of the digital x-ray market include increasing aging population and high incidences of diseases. Furthermore, increasing new product development activities by companies is another major factor driving the growth of this market.
Reasons to Buy the Digital X-Ray Market Report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
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The Digital X-Ray Market report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the digital x-ray market. The report analyses the digital x-ray market by application, technology, portability, type of system, end-users, price, and regions.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the digital x-ray market.
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the digital x-ray market.
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various digital x-ray market products across geographies.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the digital x-ray market.
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