$6.6 Billion Digital X-ray Market, 2024-2029: Development of AI-based Digital X-Ray Systems Present Business Opportunities

Dublin, June 10, 2024 (GLOBE NEWSWIRE) -- The "Global Digital X-ray Market by Portability (Fixed, Portable), Applications (Orthopedic, Dental, Diagnostic, Cancer, Pediatric), Technology (Direct, Computed), System (Retrofit, New), End Users, Price Range, Type, and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

The global digital X-ray market is projected to reach USD 6.6 billion by 2029 from USD 5.4 billion in 2024, at a CAGR of 4% from 2024 to 2029. The rising prevalence of chronic diseases, coupled with increasing demand for early and accurate diagnosis, is driving the adoption of digital X-ray systems in healthcare facilities worldwide. Moreover, ongoing technological advancements, coupled with favorable government initiatives and investments in healthcare infrastructure, are further fueling market growth. Overall, these factors collectively contribute to the expanding digital X-ray market as it continues to revolutionize medical imaging practices.

The portable X-ray system segment of product segment held the largest share of the market in 2023

Based on portability, the digital X-ray market is segmented into fixed and portable X-ray systems. This growth is primarily attributed to several factors. Firstly, portable X-ray systems offer the advantage of mobility, allowing healthcare providers to perform imaging procedures at the point of care, such as bedside imaging in hospitals, nursing homes, and remote healthcare settings. This portability facilitates efficient patient management, especially for critically ill or immobile patients who cannot be easily transported to radiology departments.

The new digital segment segment is projected to register the highest CAGR during the forecast period

Based on system, the digital X-ray market is segmented into new digital and retrofit digital X-ray systems. The new digital segment accounted for the largest market share in 2023. the integration of cutting-edge technologies like AI and machine learning in new digital systems further augments their diagnostic capabilities, driving their adoption among healthcare providers. Moreover, favorable government regulations and incentives promoting the adoption of digital imaging technologies, coupled with the growing demand for advanced healthcare services, are fueling the growth of the new digital segment in the digital X-ray market.

The hospital segment for end user segment is projected to register a significant CAGR during the forecast period

On the basis of end user, the digital X-ray market is segmented into into hospitals, diagnostic centers, orthopedic clinics, dental care centers and other end users. The hospital segment accounted for a significant share of the digital X-ray market in 2023. An aging population worldwide is contributing to an increased incidence of musculoskeletal issues, leading to a greater need for orthopedic solutions.

Digital X-ray systems offer hospitals numerous advantages, including faster image acquisition, enhanced image quality, and the ability to integrate with picture archiving and communication systems (PACS) for efficient image storage and retrieval. Moreover, the integration of advanced technologies such as artificial intelligence (AI) in digital X-ray systems enhances diagnostic accuracy and workflow efficiency, further driving their adoption in hospital settings. Additionally, ongoing technological advancements and favorable government initiatives supporting the digitization of healthcare infrastructure are contributing to the increasing adoption of digital X-ray systems in hospitals worldwide.

The market in the North America region is expected to witness the highest growth during the forecast period

The digital X-ray market in the North America region is projected to register a CAGR during the forecast period primarily due to several key factors. Firstly, the region boasts a well-established healthcare infrastructure with high levels of technological adoption, creating a conducive environment for the uptake of advanced medical imaging technologies like digital X-ray systems. Secondly, there is a growing prevalence of chronic diseases, an aging population, and an increasing demand for preventive healthcare services, driving the need for efficient and accurate diagnostic imaging solutions.

Research Coverage

This report studies the digital X-ray market based on technology, price range, systems, portability, type, application, end user, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).

The prominent players in the digital X-ray market are Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), GE Healthcare (US), Canon, Inc. (Japan), Carestream Health (US), FUJIFILM Holdings Corporation (Japan), Shimadzu Corporation (Japan), Agfa-Gevaert Group (Belgium), Samsung Medison (South Korea), Konica Minolta (Japan), and Shenzhen Mindray Bio-Medical Electronics Co. (China) among others.

Key Attributes

Report AttributeDetails
No. of Pages288
Forecast Period2024-2029
Estimated Market Value (USD) in 2024$5.4 Billion
Forecasted Market Value (USD) by 2029$6.6 Billion
Compound Annual Growth Rate4%
Regions CoveredGlobal

Premium Insights

  • Growing Public and Private Investments in Digital Imaging Technologies to Drive Market Growth During Forecast Period
  • Chest Imaging Applications to Dominate Market During Forecast Period
  • Retrofit Digital X-Ray Systems to Dominate Asia-Pacific Market in Forecast Period
  • Direct Radiography Segment to Register Highest Growth Rate During Forecast Period
  • China to Witness Highest Growth During Forecast Period

Market Dynamics

  • Drivers
    • Growing Geriatric Population and Subsequent Growth in Disease Incidence
    • Favorable Government Initiatives and Investments
    • Advantages of Digital X-Ray Systems Over Conventional Analog Systems
    • Continuous Technological Advancements and Product Developments
  • Restraints
    • High Cost of Digital X-Ray Systems
    • Regulatory Changes in US
    • Potential Risks Associated with Radiation Exposure
  • Opportunities
    • Development of AI-based Digital X-Ray Systems
    • Emerging Markets in Developing Countries
    • Increasing Adoption of Teleradiology
  • Challenges
    • Hospital Budget Cuts
    • Increasing Adoption of Refurbished Systems
    • Dearth of Trained Professionals

Value Chain Analysis

  • Research & Product Development
  • Raw Material Procurement and Manufacturing
  • Distribution, Marketing & Sales, and Aftersales Services

Supply Chain Analysis

  • Prominent Companies
  • Small and Medium-Sized Enterprises
  • End-users

Regulatory Landscape

  • Regulatory Analysis
  • North America
  • US
  • Canada
  • Europe
  • Asia-Pacific
  • Japan
  • China
  • India
  • Regulatory Trends
  • Regulatory Bodies, Government Agencies, and Other Organizations

Pricing Analysis

  • Average Selling Price of X-Ray Systems, by Type
  • Average Selling Price of Digital X-Ray Systems, by Region

Trade Analysis

  • Import Data for Digital X-Ray Systems (HS Code 370210)
  • Export Data for Digital X-Ray Systems (HS Code 370210)

Technology Analysis

  • Key Technologies
    • Digital Radiography
    • Computed Radiography
  • Complementary Technologies
    • Dosimetry
    • Artificial Intelligence
  • Adjacent Technologies
    • Mammography
    • Fluoroscopy
    • Computed Tomography

Case Study Analysis

  • Case Study 1: Implementing Focus on Technological Innovation and Addressing Regulatory Compliance
  • Case Study 2: Need for Continuous Improvement in Image Quality while Minimizing Radiation Exposure

Companies Featured

  • Siemens Healthineers
  • Koninklijke Philips N.V.
  • GE Healthcare
  • Shimadzu Corporation
  • Canon, Inc.
  • Carestream Health (Subsidiary of Onex Corporation)
  • Fujifilm Holdings Corporation
  • Agfa-Gevaert Group
  • Shanghai United Imaging Healthcare Co. Ltd.
  • Samsung Electronics Co. Ltd.
  • Konica Minolta
  • BPL Medical Technologies
  • Minxray, Inc.
  • Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
  • Acteon
  • Control-X Medical Ltd.
  • Allengers Medical Systems Ltd.
  • OEHM Und Rehbein GmbH
  • Visaris
  • Kub Technologies
  • JPI Healthcare Solutions
  • Ibis S.R.L.
  • New Medical Imaging Co. Ltd.
  • Sternmed GmbH
  • NP JSC Amico

For more information about this report visit https://www.researchandmarkets.com/r/nrywp5

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Global Digital X-ray Market

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