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Rising prevalence of Cancer and generic population are driving the growth of the Digital Radiography Market

HYDERABAD, TELANGANA, INDIA, January 18, 2023 /EINPresswire.com/ -- The digital radiography market size in 2019, is $2.01 billion and is projected to reach a revenue of $2.82 billion by 2025. Digital radiography uses X-ray detectors to transfer images directly to computers. With the rising prevalence of trauma cases and cancer, the market is said to increase in the coming years. Constant innovation is being done in digital radiography technology to improve image quality and reduce radiation, and costs as well. As per the World Health Organization, the global cancer burden is estimated to have risen to 18.1 million new cases. The rising prevalence of cancer is associated with an unhealthy lifestyle among the millennial population. This includes junk food consumption and smoking as the key causative factors. This increases the demand for imaging as such lifestyles cause regular diseases and thus simultaneously increase the demand for digital radiography.

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Key Takeaways

1. The market is estimated to grow at a CAGR of 5.7% during the forecast period 2020-2025 owing to the rising use of this imaging technique for diseases such as cancer.

2. Increasing investment in technology for reducing radiation and improving the connectivity of the equipment is likely to contribute to market growth in the coming years.

3. Rising usage of digital X-rays in areas such as dental imaging and tumour detection is contributing to this market growth.

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Segment Analysis

1. By product type, the Digital radiography market is classified as Computed and Direct Radiography. Direct Digital Radiography is the dominant segment by revenue. This is because of the high image quality it offers due to the use of flat panel detectors that directly produce digital images. However, computed radiography uses cassette-based plates that need to be scanned into digital format. The growth rate of digital radiography is 4.6% and the technological developments in digital radiography are further adding to its growth rate.

2. North America accounts for 35% of the Digital radiography market share. This is owing to the number of healthcare providers and the amount of investment in the healthcare sector of this region. Asia Pacific segment is likely to be the fastest growing in the coming years as favourable regulations and increased research activities to develop better technology that will reduce the costs of digital radiography equipment.

Competitive Landscape:

The top 5 players in the Digital Radiography Industry are -

1. GE Healthcare
2. Koninklijke Philips NV
3. Fujifilm Holdings Corporation
4. Siemens Healthineers
5. Canon Medical System Corporation (Toshiba)

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Related Report

A. Digital X-ray Equipment Market
https://www.industryarc.com/Report/15941/digital-x-ray-equipment-market.html

B. X-ray Systems Market
https://www.industryarc.com/Research/X-ray-Systems-Market-Research-508556

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