Albany, NY -- (SBWIRE) -- 11/06/2018 -- Global Digital X-ray Systems Market: Overview
The global market for digital X-ray systems has witnessed vast strides in terms of technological prowess, features, portability, and accuracy of these systems over the years. Unlike traditional X-ray images, which required to be exposed on photographic films and needed processing before they could be viewed, taking up a lot of space in healthcare facilities, digital X-ray systems use an electronic detector instead of a film and the electronic images are processed by a computer. Ensuring that a lot of space is saved and images are stored digitally to be viewed directly on screen without having to manually process them, digital X-ray systems have come to become the go-to X-ray systems in modern healthcare facilities across the globe these days.
The market for these systems has expanded at a promising pace over the years owing to the fact that X-ray imaging allows for high-resolution, fast, and relatively economical diagnosis of a number of disorders. This report allows scrupulous analytical insights into the growth prospects of the market over the period between 2018 and 2026. An overview of key factors impacting the overall growth prospects of the market to a notable extent, key trends, regulatory reforms, and competitive dynamics of the market is included.
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Global Digital X-ray Systems Market: Trends and Opportunities
The increased global demand for digital X-ray systems can be chiefly attributed to the massive rise in the incidence rate of a number of chronic diseases such as cardiovascular conditions, arthritis, and cancer and a notable rise in healthcare reforms encouraging people to focus on early diagnosis and treatments of their conditions. Rising disposable incomes, increased expenditure of governments as well as individuals on healthcare and wellness globally, and increased focus on the advancement of healthcare infrastructure in emerging economies are also working in favor of the market.
However, the market could witness a setback owing to the limited appeal for expensive and technologically advanced digital medical equipment in emerging economies due to either concerns related to funds or the lack of supporting systems. Legal provisions such as the Affordable Care Act, which require healthcare systems to undertake cost-containment measures could also negatively impact the digital X-ray systems market by notably bringing down profit margins for manufacturers. Nevertheless, the large population of underserved patients in emerging economies will lead to a vast set of growth opportunities.
Global Digital X-ray Systems Market: Segmentation
The global market for digital X-ray systems can be segmented based on criteria such as end-user, application, portability, technology, and geography. Based on portability, the segment of fixed X-ray systems presently accounts for the dominant share in the overall market. While fixed X-ray systems will continue to account for a significant share of the market owing to their presence in the global market for a long time, their growth prospect over the report's forecast period are is to be overshadowed by the segment of portable X-ray systems over the report's forecast period.
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Of the key applications of digital X-ray systems, the segment of cardiovascular imaging will outperform other application areas owing to the massive rise in the number of patients suffering from cardiovascular diseases globally and the increased level of awareness among patients about the benefits of proper, timely diagnosis. In terms of technology, the segment of digital radiography is expected to account for the dominant share in the market over the forecast, followed by the segment of computed radiography.
Global Digital X-ray Systems Market: Geographical and Competitive Dynamics
Geographically, the market in North America accounted for the dominant share of the market in 2017 and is likely to constitute a massive slice of the overall revenue pie of the global market over the report's forecast period as well. The markets in Asia Pacific and Europe will follow course, providing promising growth opportunities due mostly to increased focus on advancement of healthcare infrastructure in emerging economies in Asia Pacific and high expenditure on healthcare in Europe. Factors such as high population, rising burden of chronic diseases, and increased disposable incomes will also work well for the Asia Pacific digital X-ray systems market in the next few years. In Europe, the rising population of geriatrics will act as a leading driving force for the market.
Some of the leading companies operating in the global digital X-ray market are Hitachi Medical Corporation, Canon Inc., Hologic, Inc., Carestream Health Inc., Shimadzu Corporation, Fujifilm Medical Systems, Siemens Healthineers, GE Healthcare, Toshiba Medical Systems Corporation, and Koninklijke Philips.
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