Digital Radiography Market Size To Increase USD 9.4 Bn By 2030

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The global digital radiography market size exhibited USD 4.5 billion in 2022 and is projected to increase USD 9.4 billion by 2030, poised to grow at a strong CAGR of 9.66 percent during the projection period from 2022 to 2030.

Digital radiography is an imaging technique in which a sensor collects data instead of film. The analogue data is then analyzed by specialized software and displayed on a computer monitor as a picture. The image that results can be altered in a variety of ways, including grayscale, brightness, contrast, and inversion. Color images can be created to improve the digital image's evaluation. In the healthcare industry, increasing digitization is simplifying patient diagnosis and delivering more accurate and timely test results. The X-ray is a useful diagnostic tool, and its digitization has taken hold in diagnostic laboratories all around the world. In addition, the development of mobile digital x-ray devices has boosted the worldwide digital radiography market forecast.

Report Highlights:

• On the basis of product, portable digital radiography system segment holds the largest market share in the global digital radiography market. Modern technology, an increase in the number of patients with chronic diseases, as well as an increase in the senior population, are all driving the expansion of portable systems. There is also a growing awareness of portable systems' availability. 
• On the basis of technology, direct digital radiography segment holds the largest market share in the global digital radiography market. The benefits of direct radiology systems, such as efficient dynamic range, decent healthcare evaluation, better and precise picture capture, and lower radiation exposure for patients and staff, are all helping to the technology segment's growth.
• On the basis of application, dental radiology segment holds the largest market share in the global digital radiography market. The category is likely to be driven by technological developments in medical imaging for improved dental treatment, expanding public knowledge about oral health maintenance, and the rising incidence of avoidable periodontal illnesses.

Digital Radiography Market Report Scope:

Regional Snapshot:

North America is the largest segment of the digital radiography market in terms of region. The U.S. are dominating the digital radiography market in the North America region. The rising frequency of chronic illnesses is one of the primary reasons driving the growth of the North American digital radiography market. Furthermore, the presence of significant market players, as well as the increased adoption of key tactics by industry participants, are driving the digital radiography market in North America.

The asia-Pacific region is the fastest-growing region in the digital radiography market. China, India, and Japan hold the highest market share in the Asia-Pacific digital radiography market. The increasing prevalence of breast cancer, increasing medical costs, an increase in the number of breast cancer awareness initiatives, and significant government expenditure on breast cancer research studies in various Asia-Pacific nations are all boosting the digital radiography market in the Asia Pacific.

Market Dynamics:

Drivers:

Surge in demand for artificial intelligence based digital radiography systems

One of the most promising areas of health innovation is the application of artificial intelligence, particularly in medical imaging. Many ongoing research and development activities have aided the industry in this regard. Various firms are currently conducting research and development to deliver artificial intelligence in various imaging modalities, including digital X-ray systems. Thus, this factor is driving the growth of the market.

Restraints:

Growing utilization of renovated modernized systems

Budget restrictions, hefty equipment costs, and low reimbursement rates prevent many hospitals in underdeveloped nations from investing in digital X-ray systems. Due to the high demand for digital imaging processes around the world, healthcare centers that cannot afford to finance in new and innovative imaging systems opt for renovated ones. Renovated modern systems are frequently less expensive than new ones. The rising demand for refurbished gadgets, on the other hand, presents a significant challenge for industry players, particularly small producers.

Opportunities:

Technological developments

Digital radiography market growth is dependent on technological advancements. Digital radiography systems are in high demand because to factors such as picture quality, image capture time, portability, detector shape, and software. The capacity to process vast amounts of data and evaluate patients quickly is driving demand for modern digital radiography systems. Thus, the digital radiography market is expected to expand in the coming years. 

Challenges:

High cost of digital radiography systems 

Digital radiography systems are expensive and need large upfront investments, which raises the cost of procedures for patients. This has an impact on the rate at which new systems are adopted, particularly in emerging markets. Because their budgets are limited, most small and medium-sized hospitals are unable to purchase these systems. Thus, this is a major challenge for market expansion. 

Recent Developments:

• Hologic purchased Faxitron Bioptics in July 2018. In digital specimen radiology, Faxitron Bioptics is the industry leader. As a result of this transaction, Hologic was able to build their interventional breast business.
• Hologic Inc., a developer, producer, and provider of high-quality diagnostics and medical imaging devices, declared in December 2020 that its Genius Artificial Intelligence Detection technology, a new deep learning-based software designed to aid radiologists in detecting subtle potential cancers in breast tomosynthesis images, received Food and Drug Administration clearance in the U.S. 

Major Key Players:

• Agfa-Gevaert group
• Cannon Inc.
• Detection Technology
• Fujifilm Holdings
• Hitachi,Ltd
• General Electrics
• Medtronics
• Koninklijke Phillips
• Samsung Electronics Co Ltd.

Market Segmentation:

By Product

• Stationary
• Portable

By Application

• Cardiovascular Imaging
• Chest Imaging
• Dental Imaging
• Digital Mammography
• Orthopedic Imaging
• Other

By Technology

• Direct
  • Charged Couple Device (CCD)
  • Flat Panel Detector
• Computed

By Method

• Computed Radiography (CR)
• Direct Radiography (DR) 

By End User

• Diagnostic Clinics
• Other End Users
• Hospitals

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