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A recent report published by Infinium Global Research on digital radiology market provides an in-depth analysis of segments and sub-segments in global as well as regional digital radiology market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional digital radiology market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global digital radiology market. According to the report, the global digital radiology market is projected to grow at a CAGR of 11% over the forecast period of 2018-2024.
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 an 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 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 the increased 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, the quick growth of the healthcare industry and upsurge in the incidence of chronic diseases especially in India and China, and shifting the trend of citizens towards digital radiology has boosted the demand for digital radiology devices.
The report on global digital radiology market covers segments such as products, application, and end-user. On the basis of products, the global digital radiology market is categorized into portable digital radiology system and stationary digital radiology system. On the basis of application, the global digital radiology market is categorized into dental imaging, cardiovascular imaging, orthopedic imaging, chest imaging, and mammography imaging. On the basis of end-user, the global digital radiology market is categorized into diagnostic centers, hospitals, and others.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global digital radiology market such as 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 and Canon Inc.
Report Highlights:
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global digital radiology market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of digital radiology market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the digital radiology market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the digital radiology market to understand the present and future trends in this market and formulate their strategies accordingly.
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