DIGITAL X-RAY DEVICES MARKET ANALYSIS

The global digital x-ray devices market was valued at US$ 10,720.5 Mn in 2022 and is forecast to reach a value of US$ 18,917.8 Mn by 2030 at a CAGR of 7.4% between 2023 and 2030. The global digital x-ray devices market is experiencing strong growth due to the rise in prevalence of chronic and orthopedic disease and advantages of digital x-ray system over conventional x-rays. Moreover, increase in demand for digital x-ray devices and growing geriatric population is expected to boost the growth of the market. However, factors such as high cost of installation and high cost of devices and rise in use of refurbished x-ray devices are expected to hamper the market growth.

Global Digital X-ray Devices Market: Regional Insights

Based on geography, the global digital x-ray devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period owing to the increasing incidence of orthopedic diseases, rise in burden of cancer, and rise in geriatric population in this region. For instance, with the increase in prevalence of chronic and orthopedic diseases, the use of medical imaging devices, such as x-ray devices, is also increasing with a rapid pace. In August 2022, GE Healthcare announced the launch of the AI-enabled x-ray system. The Definium 656 HD platform includes artificial intelligence (AI) to provide enhanced anatomic detail and clarity through the use of Helix 2.2 advanced image processing and 100 um FlashPad HD detectors, according to the company.

Europe and Asia Pacific are also expected to witness significant growth in the global digital x-ray devices market due to the increase in prevalence of chronic and orthopedic diseases, rise in number of serious injuries, and rise in geriatric population in these regions. For instance, X-rays and other radiographic tests help doctors look for cancer in different parts of the body. India’s cancer cases could increase by 12% in the next five years, with 1.5 million people projected to suffer from the non-communicable disease by 2025, up from 1.39 million in 2020, according to the data based on current trends from the cancer report by Indian Council of Medical Research (ICMR). This in turn is driving the growth of the market in these regions.

Figure 1. Global Digital X-ray Devices Market Share (%), by Region, 2023

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Global Digital X-ray Devices Market Drivers:

High prevalence of chronic and orthopedic diseases to boost market growth

One of the key factors expected to augment the growth of the global digital x-ray devices market over the forecast period is the increase in prevalence of chronic and orthopedic diseases worldwide. Digital radiography is very helpful for examining the musculoskeletal system of trauma victims. For instance, according to the World Health Organization (WHO), musculoskeletal conditions are the leading contributor to disability worldwide, with low back pain being the single leading cause of disability in 160 countries; 1.71 billion people have musculoskeletal conditions worldwide. This in turn is driving the growth of the market.

Advantages of digital x-ray devices to underpin market growth

Another factor which is driving the growth of the digital x-ray devices market is the advantages of digital x-ray systems over conventional x-rays. For instance, the major advantages of digital x-ray or imaging are easy accessibility and cost-effectiveness. While traditional X-rays are considered safe, digital X-rays produce 80% less radiation than traditional. This is beneficial for the long-term health of patients, especially for those suffering from a disease and pregnant women, thus ensuring safety. Moreover, digital X-rays provide better and clearer images with high resolution that can be enlarged or manipulated as needed, minimizing the need for repeating the procedure.

Global Digital X-ray Devices Market Opportunities:

Increase in demand for digital x-ray devices, due to their advantages over conventional x-rays, is expected to provide significant growth opportunities for players in the global digital x-ray devices market. For instance, digital x-rays are better than traditional x-rays, since they result in sharper images, leading to more conclusive diagnosis. In February 2022, Carestream Health India launched DRX Compass, an accurate, convenient and configurable digital radiation solution that provides radiologists with a whole new level of efficiency, giving radiology facilities full control over how they can use this future-proof digital radiology technology.

Growing geriatric population across the globe is expected to offer significant growth opportunities for players in the global digital x-ray devices market. For instance, radiology plays a vital role in the care of elderly patients, in whom complex symptomatology and the high prevalence of disease necessitate definitive imaging. For instance, According to the UN DESA’s Population Division, one in six people in the world will be over the age 65 by 2050, up from 1 in 11 in 2019. In many regions, the population aged 65 will double by 2050, while global life expectancy beyond 65 will increase by 19 years. This in turn is driving the market growth.

Global Digital X-ray Devices Market Trends:

Demand for portable digital x-ray devices is a recent trend

Portable x-ray devices play an important role in diagnosis and monitoring at the patient's bedside, with no barriers to transfer the patient to the X-ray room. A portable x-ray offers many advantages over the traditional x-ray systems. Furthermore, the portable x-ray has the potential to overcome location barriers and benefit patients who are in life-threatening conditions and require immediate treatment, possibly needing an on-the-spot diagnosis. This in turn is expected to drive the growth of the global digital x-ray devices market.

Technological advancements is another trend

Over the past few years, digital x-ray devices have undergone significant advances focused on core and ancillary technologies to provide high-quality, high-resolution images without corresponding increase in radiation dose. These solutions integrate new technologies and algorithms along with, other improvements to take advantage of the optimization potential of digital image enhancement. Artificial intelligence (AI) is running rampant in radiology and imaging equipment, and is already being used in many ways in radiology and is the future.

Global Digital X-ray Devices Market Restraints:

High cost of installation to hinder market growth

One of the key factors expected to hamper the growth of the global digital x-ray devices market is the high cost of installation and cost of devices. For instance, one of the largest deciding factors in the upgradation to digital x-ray systems is the cost of initial installation as well as the cost of new devices. However, now, market players offer high-quality digital x-ray devices/systems with long life, low maintenance, and everywhere service center availability. Moreover, portable x-rays offer many advantages over the traditional x-ray systems.

Increasing use of refurbished devices to hamper market growth

Another factor which is hampering the growth of the global digital x-ray devices market is the rise in use of refurbished x-ray devices worldwide. For instance, the increasing demand of refurbished medical devices, such as imaging devices, affect the sales of the new devices and restrict the entry of new devices into the market. Refurbished medical imaging equipment and parts are available at 40% to 60% down the Dominium prices of new devices. Several Original manufacturers also sells refurbished equipment due to their better acceptance in the market.

Figure 2. Global Digital X-ray Devices Market Share (%), by Application, 2023

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Global Digital X-ray Devices Market Segmentation:

The global digital x-ray devices market report is segmented into Application, Technology, Portability, End User, and Geography.

Based on Application, the market is segmented into Orthopedic, Cancer, Dental, Cardiovascular, and Other Applications. Out of which, Orthopedic Segment is expected to dominate the digital x-ray devices market over the forecast period and this is attributed to the increasing prevalence of orthopedic diseases. X-ray imaging is extremely important to orthopedic professionals, as precise imaging helps in determining the best care possible for the patients.

Cancer Segment is also expected to witness significant growth in the near future and this is owing to the increase in burden of cancer across the globe. Digital X-rays are used to diagnose the disease, monitor therapy, and plan surgical treatment.

Based on Technology, the market is segmented into Computed Radiography and Direct Radiography. Of which, Computed Radiography Segment is expected to dominate the market over the forecast period and this is attributed to the rise in use of computed radiography (CR). It is a digital replacement for conventional X-ray film radiography, and offers enormous advantages.

Direct Radiography Segment is also expected to witness robust growth in the near future and this is owing to rise in usage of digital radiography. Direct radiography (DR) is an advanced form of x-ray inspection which produces a digital radiographic image instantly on a computer.

Based on Portability, the market is segmented into Fixed Systems and Portable Systems. Out of which, Portable Systems Segment is expected to dominate the market over the forecast period and this is attributed to the high demand for portable systems worldwide.

Based on End User, the market is segmented into Hospitals, Diagnostic Centers, and Other End Users. Of which, Hospitals Segment is expected to dominate the market over the forecast period and this is attributed to the rise in prevalence of chronic and orthopedic diseases worldwide.

Diagnostic Centers Segment is also expected to witness significant growth in the near future and this is due to increase in number of diagnostic centres and rise in adoption of digital x-ray devices.

Global Digital X-ray Devices Market: Key Developments

In December 2022, Canon Inc. announced the launch in July, in markets outside of Japan, of the CXDI-Elite series of wireless digital radiography devices, including CXDI-720C Wireless sensor unit, which provide both ease-of-use in a wide variety of imaging scenarios as well as higher image quality to support greater diagnostic accuracy.

In July 2022, Siemens Healthineers launched Mobilett Impact1, its newest mobile X-ray system. The system combines all the benefits of a mobile X-ray system for imaging at the patient’s bedside with full digital integration and an economical price.

In November 2021, Konica Minolta Healthcare Americas Inc., announces the launch of the mKDR Xpress Mobile X-ray System and the AeroDR Carbon Flat Panel Detector, two solutions that are powerful yet extraordinary when used together. The new solutions reaffirm Konica’s commitment to digital radiography by enabling clinicians to realize greater potential with X-ray, a most widely available diagnostic imaging modality and often the first imaging test a patient receives.

Global Digital X-ray Devices Market: Key Companies Insights

The global digital x-ray devices market is highly competitive. This is attributed to the increase in prevalence of chronic and orthopedic diseases across the globe, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global digital x-ray devices market are Hologic, Inc., Hitachi, Ltd., Siemens Healthineers, Shimadzu Corporation, Koninklinje Philips NV, Carestream Health, Inc., Canon Medical Systems Corporation, GE Company (GE Healthcare), Samsung Electronics Co. Ltd (Samsung Medison), and Fujifilm Holdings Corporation (Fujifilm Medical Systems).

*Definition: Digital x-ray or digital radiography (DR) is advanced form of x-ray inspection which produces a digital radiographic image instantly on a computer. It is the form of imaging where digital x-ray sensors are used instead of traditional photographic films.