New York, October 05, 2021 – Reports and Data has published its latest report titled “Digital Radiography Market, By Product Type (Stationary Digital Radiology Systems, Portable Digital Radiology Systems), By Technology (Computed Radiology, Direct Digital Radiology), By Application (Cardiovascular Imaging, Chest Imaging, Dental Imaging, Mammography Imaging, Orthopedic Imaging, Others), By End-use (Hospitals & Clinics, Diagnostic Centers, Others), And Region- Global Forecast To 2028”
Surge in geriatric population, rising prevalence of chronic disorders, and rapid adoption of mobile digital x-ray systems across hospitals and diagnostic centers are key factors expected to drive market revenue growth
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According to Reports and Data, the global digital radiography market size was USD 10.28 billion in 2020 and is expected to reach USD 19.82 billion in 2028 and register a revenue CAGR of 8.7% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities:
Digital radiography is an advanced form of x-ray imaging that instantly produces digital radiographic images on a computer using x-ray-sensitive plates. The most widely used forms of digital radiography are direct radiography (DR) and computed radiography (CR). Reduced radiation. Digital radiography offers numerous advantages over the traditional radiography processes, such as higher portability, shorter exposure time, reduced space requirement, decreased inspection time, enhanced digital images, easy electronic data transfer, and higher cost-effectiveness. Digital detector arrays (DDAs), also known as flat panel detectors, are among the commonly used digital radiography systems that produce higher quality images than other traditional systems.
The global digital radiography market revenue growth is majorly attributed to rapid digitalization in healthcare, increasing adoption of portable or mobile digital radiography systems in hospitals, clinics, and diagnostic centers, and rapid incorporation of AI and other emerging technologies in radiography systems. Rising prevalence of cardiovascular, oncological, neurological, and musculoskeletal disorders, and increasing applications of digital radiography systems in cancer diagnosis, mammography, cardiovascular imaging, and dental and orthopedic surgeries are other major factors bolstering revenue growth of the global market. Technological advances digital radiography systems are further expected to bolster market growth in the upcoming years. For instance, Canon Medical introduced the SOLTUS 500 mobile digital X-ray system in August 2020. The new FDA-approved device offers greater versatility and enhanced performance, and it comes with improved image quality and increased patient safety.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Mammography Application Segment to Account for Largest Revenue Share:
Based on application, the mammography segment is expected to account for the largest revenue share over the forecast period, owing to growing prevalence of breast cancer across the globe, increasing intiatives to raise awareness of breast cancer among women, emergence of cutting-edge breast cancer diagnostic technologies, and growing use of advanced digital radiography systems in breast cancer diagnosis.
Direct Radiography Technology Segment Dominated Other Segments in 2020:
Based on technology, the direct radiography segment was the most dominant in terms of revenue share in 2020. This segment’s revenue growth is majorly attributed to increasing use of direct radiography (DR) systems in cancer diagnosis, cardiovascular imaging, and dental imaging owing to various advantages including enhanced contrast detectability, higher dynamic range, reduced radiation exposure, improved image quality, and reduced costs.
North America Accounted for a Significantly Large Revenue Share in 2020:
Among regional markets, the North America digital radiography market accounted for the largest revenue share in the global market in 2020. Rise in geriatric population, growing prevalence of chronic illnesses such as cancer and cardiovascular disorders, development of highly digital radiography systems, and the presence of state-of-the-art healthcare infrastructure in the region are among the primary factors driving revenue growth in the North America market.
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Major Companies in the Market Include:
- GE Healthcare
- Siemens Healthcare
- Philips Healthcare
- Agfa HealthCare
- Angell Technology
- Carestream Health
- Wandong Medical
- Land Wind
- Konica Minolta
For the purpose of this report, Reports and Data has segmented the global digital radiography market based on product type, technology, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Stationary Digital Radiology Systems
- Ceiling-mounted Systems
- Floor-to-ceiling Mounted Systems
- Portable Digital Radiology Systems
- Handheld Radiology Systems
- Mobile Radiology Systems
Technology Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Computed Radiology
- Direct Digital Radiology
Application Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Cardiovascular Imaging
- Chest Imaging
- Dental Imaging
- Mammography Imaging
- Orthopedic Imaging
End-use Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Hospitals & Clinics
- Diagnostic Centers
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Regional Outlook (Revenue, USD Billion; Volume, 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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