DIGITAL X-RAY DEVICES MARKET ANALYSIS

Market Challenges And Opportunities

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 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.