The global digital radiology market was valued $3,942.72 million in 2020 and expected to reach $8,319.38 million by 2030, with a CAGR of 6.6% from 2021 to 2030. Digital radiology is an imaging technique in which the picture is replaced with a sensor that captures the data on the computer instantaneously during the patient examination. Generated images can be obtained, modified, deleted, and shared over computer networks. Advancements in X-ray imaging improve diagnostic accuracy and reduce radiation exposure. Furthermore, advancements led to the development of flat-panel X-ray detectors, which enhances image quality and reduces graininess.
The digital radiology market is expected to grow in terms of revenue, due to number of orthopedic and dental disorders. In addition, advancement in technology and adaptation of better healthcare facilities fuel the growth of market. Furthermore, geriatric population fuel the demand for digital radiology. Moreover, some key factors responsible for growth of the digital radiology market include, increase in injuries, advantages of digital X-ray systems over conventional X-ray systems, product development, and technological advancements. Therefore, key manufacturers focus on offering innovative technologies to end users, notably, in C-arms and fluoroscopy devices, which contribute to growth of the market. However, the factor that hinders the growth of the market is continuous radiation exposure, which leads to increase in harmful effects in patients as well as radiologists.
In addition, market suffered decline in growth, due to modern packaging rules and country imposed lockout procedures. Furthermore, turnaround time for product and service delivery has also been impacted. All of these factors negatively impact digital X-ray system manufacturing and supply chain. However, COVID-19 opened up new possibilities for digital X-ray manufactures and healthcare providers. Chest imaging considered as an alternate option for individuals with suspected or probable COVID-19 in situations when laboratory testing, Reverse transcription polymerase chain reaction (RT-PCR) is not available, or results are delayed or initially negative. Imaging tests, including chest radiography, computed topography scans, and lung ultrasounds were used to supplement clinical evaluation and laboratory data in managing COVID-19 patients.
The global digital radiology market is segmented on the basis of product, application, technology, end user, and region. On the basis product the market is segmented into stationary digital radiology system and portable digital radiology system. According to stationary digital radiology system segment, it is classified into ceiling-mounted and floor-to-ceiling mounted digital radiology systems. As per portable digital radiology system segment, it is bifurcated into handheld radiology system and mobile radiology system.
Depending on application, the market is fragmented into cardiovascular imaging, chest imaging, dental imaging, digital mammography, orthopedic imaging, and other applications. By technology, the market is divided into computed radiography and direct digital radiography. By end user, it is categorized into diagnostic center and hospital. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global digital radiology market are Agfa-Gevaert group, Cannon Inc., Detection Technology, Fujifilm, General Electrics, Medtronics, Koninklijke Phillips, Samsung,Hitachi, and Varex Imaging Corporation.
The digital radiology market is expected to grow in terms of revenue, due to number of orthopedic and dental disorders. In addition, advancement in technology and adaptation of better healthcare facilities fuel the growth of market. Furthermore, geriatric population fuel the demand for digital radiology. Moreover, some key factors responsible for growth of the digital radiology market include, increase in injuries, advantages of digital X-ray systems over conventional X-ray systems, product development, and technological advancements. Therefore, key manufacturers focus on offering innovative technologies to end users, notably, in C-arms and fluoroscopy devices, which contribute to growth of the market. However, the factor that hinders the growth of the market is continuous radiation exposure, which leads to increase in harmful effects in patients as well as radiologists.
In addition, market suffered decline in growth, due to modern packaging rules and country imposed lockout procedures. Furthermore, turnaround time for product and service delivery has also been impacted. All of these factors negatively impact digital X-ray system manufacturing and supply chain. However, COVID-19 opened up new possibilities for digital X-ray manufactures and healthcare providers. Chest imaging considered as an alternate option for individuals with suspected or probable COVID-19 in situations when laboratory testing, Reverse transcription polymerase chain reaction (RT-PCR) is not available, or results are delayed or initially negative. Imaging tests, including chest radiography, computed topography scans, and lung ultrasounds were used to supplement clinical evaluation and laboratory data in managing COVID-19 patients.
The global digital radiology market is segmented on the basis of product, application, technology, end user, and region. On the basis product the market is segmented into stationary digital radiology system and portable digital radiology system. According to stationary digital radiology system segment, it is classified into ceiling-mounted and floor-to-ceiling mounted digital radiology systems. As per portable digital radiology system segment, it is bifurcated into handheld radiology system and mobile radiology system.
Depending on application, the market is fragmented into cardiovascular imaging, chest imaging, dental imaging, digital mammography, orthopedic imaging, and other applications. By technology, the market is divided into computed radiography and direct digital radiography. By end user, it is categorized into diagnostic center and hospital. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global digital radiology market are Agfa-Gevaert group, Cannon Inc., Detection Technology, Fujifilm, General Electrics, Medtronics, Koninklijke Phillips, Samsung,Hitachi, and Varex Imaging Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the digital radiology market analysis from 2020 to 2030 to identify the prevailing digital radiology market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the digital radiology market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global digital radiology market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product
- Stationary Digital Radiology System
- Portable Digital Radiology System
By Application
- Cardiovascular Imaging
- Chest Imaging
- Dental Imaging
- Digital Mammography
- Orthopedic Imaging
- Other Applications
By Technology
- Direct Digital Radiology
- Computed Digital Radiology
By End User
- Diagnostic Clinics
- Other End Users
- Hospitals
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Agfa-Gevaert group
- Cannon Inc.
- Detection Technology
- Fujifilm Holdings
- Hitachi,Ltd
- General Electrics
- Medtronics
- Koninklijke Phillips
- Samsung Electronics Co Ltd
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: DIGITAL RADIOLOGY MARKET, BY PRODUCT
CHAPTER 5: DIGITAL RADIOLOGY MARKET, BY APPLICATION
CHAPTER 6: DIGITAL RADIOLOGY MARKET, BY TECHNOLOGY
CHAPTER 7: DIGITAL RADIOLOGY MARKET, BY END USER
CHAPTER 8: DIGITAL RADIOLOGY MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
The global digital radiology/radiography market was valued at $3.9 billion in 2020, and is estimated to reach $8.3 billion by 2030, growing at a CAGR of 6.6% from 2021 to 2030.Digital radiology is a X-ray imaging technique that uses digital X-ray sensors to capture images instead of films. This gives you an instant preview of the images, which saves time and allows to transmit pictures instantly. Digital radiology is a preferred and approved diagnosis method over traditional analogue X-ray for variety of applications, due to less radiation dosage. There are numerous types of digital radiology detectors in the market, depending on panel size, portability, and system type. Indirect flat panel detectors, computed radiology (CR) detectors, direct flat panel detectors, portable detectors, and fixed detectors. Other classes under these divisions include retrofit X-ray systems and digital X-ray systems. Digital radiography market trends have a wide range of applications in cardiovascular imaging, chest imaging, orthopedics, and dentistry.The major factors that drive the digital radiology market growth include ability to analyze massive amounts of data and evaluate patients quickly. Innovation and development of advanced technologies in X-ray imaging boost the growth of the market. However, digital radiology equipment are more expensive and need significant upfront investments, increasing the procedure cost for patients. This has an impact on the rate at which new systems are adopted, particularly in developing nations. Furthermore, budgets are limited, most small and medium-sized hospitals cannot afford these systems, which, in turn, hinder the growth of the market.
The World Health Organization (WHO) on January 30, 2020, declared COVID-19 as pandemic. COVID-19 affected 210 countries across the globe. Governments across the globe announced country-wide lockdowns as well as social distancing measures to prevent collapse of the healthcare system, due to the COVID-19 pandemic. The overall IMPACT OF COVID-19 on the global digital radiology market was positive, owing to significant increment in adaptation of digital radiology systems for fast and better data processing.
The global digital radiology market is segmented on the basis of product, application, technology, end user, and region. On the basis product the market is segmented into stationary digital radiology system and portable digital radiology systems. According to stationary digital radiology system segment, it is classified into ceiling-mounted and floor-to-ceiling mounted digital radiology systems. As per portable digital radiology system segment, it is fragmented into handheld radiology systems and mobile radiology systems.
As per application, digital radiography industry it is fragmented into cardiovascular imaging, chest imaging, dental imaging, digital mammography, orthopedic imaging, and other applications. By technology, it is categorized into computed radiography and direct digital radiography. On the basis of end user, digital radiology industry it is categorized into diagnostic center and hospital. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. According to product, portable digital radiology systems dominated the market, due to surge in microbial contamination during radiology. Depending on application, dental imaging dominated the market, due to surge in better image quality for dental procedures.By technology, direct digital radiography dominated the market,which is attributed to better efficiency and image optimization features.
In addition, North America accounted for largest share of the digital radiography market size, followed by Europe's digital radiography market share. This can be attributed to adaption of digital radiology systems for efficient workflow and rise in diagnostic procedures.
Companies Mentioned
- Agfa-Gevaert group
- Cannon Inc.
- Detection Technology
- Fujifilm Holdings
- Hitachi,Ltd
- General Electrics
- Medtronics
- Koninklijke Phillips
- Samsung Electronics Co Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 4390.55 million |
| Forecasted Market Value ( USD | $ 8319.38 million |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
