Digital Radiology Market Poised to Grow at a CAGR of 11% by 2024
Infinium Global Research has added a new report on Digital Radiology Market. The report presents an analysis of global as well as regional markets of digital radiology market over the period of 2016 to 2024. Digital radiology is a form of X-ray imaging that uses digital X-ray sensors in place of traditional photographic film. Digital radiology delivers a better quality of images, accurate diagnosis and evaluation, less radiation exposure, and the immediate preview of images. Digital radiology has various advantages such as the ability to digitally transfer and enhance images, and the elimination of costly film processing steps. Combination of digital X-ray sensors in digital radiology help in the growth of productivity and speed of workflow. It also helps in the diagnosis of various chronic diseases such as breast cancer, respiratory diseases, and cardiovascular diseases. Digital radiology is mostly used at a large scale in multispecialty clinics, diagnostic centers, and hospitals.
Factors such as high-quality imaging delivered by this technology along with the least radiation exposure and development in more powerful are driving the growth of the market. Besides compact devices, increase in R&D activities in this field, consciousness through conferences and programs, and an increase in acceptance of portable digital radiology systems are also responsible factors for boosting the growth digital radiology market. Further, growth in the frequency of chronic diseases, progress in technological advancements relating to these systems and modernization of healthcare facilities are also enhancing the growth of the digital radiology market.
Additionally, progress in healthcare industry owing to increase in healthcare spending, growing concern towards healthcare, increase in aged population that requires long term treatment and latest technological innovation is projected to drive the demand for this market. Advanced software technology used to transmit imaging data and wireless X-ray detectors are gaining a significant position in this market which further leads to provide several growth opportunities in the digital radiology market over the upcoming years. On the other side, high costs related to the installation of digital radiology systems and concern of patient’s radiation exposure are estimated to hamper the market growth.
In terms of geography, North America has dominated the growth in digital radiology market followed by the Asia Pacific and Europe region. The factors such as increasing risk of chronic diseases such as chronic respiratory, dental issues, orthopedic disorders, increasing investments in R&D activities and growth in aged populations are driving the growth of this market in North America region. In Asia Pacific region, quick growth of the healthcare industry and upsurge in the incidence of chronic diseases especially in India and China, and shifting trend of citizens towards digital radiology has boosted the demand for digital radiology devices. Moreover, the growth matrix presented by Infinium Global Research identifies the key investment markets in the near future, this will not only help the companies to understand the competitive position in the global digital radiology market but also make strategic decisions to capture the most lucrative markets in the near future. The market size is presented in terms of value for the historic year 2016 and estimated for the forecast period of 2018-2024.
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The recent report identified that North America dominated the global digital radiology market over the last couple of years while emerging markets of Asia-Pacific and Latin America are anticipated to contribute significantly to the growth in the digital radiology market worldwide.
The report segments the global digital radiology market on the basis of Products, Application, and End-user.
Global Digital Radiology Market by Products
· Portable Digital Radiology System
· Stationary Digital Radiology System
Global Digital Radiology Market by Application
· Dental Imaging
· Cardiovascular Imaging
· Rthopedic Imaging
· Chest Imaging
· Mammography Imaging
Global Digital Radiology Market by End-user
· Diagnostic Centers
Companies Profiled in the Report
· Siemens Aktiengesellschaft
· Konica Minolta, Inc.
· General Electric Company
· Carestream Health Inc.
· Agfa-Gevaert Group
· Varian Medical Systems, Inc.
· Koninklijke Philips N.V.
· Hitachi, Ltd.
· Fujifilm Holdings Corporation
· Canon Inc.
About Infinium Global Research
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