Digital X-ray Market by Portability (Fixed, Portable), Applications (General, Dental, Mammography, Cancer, Fluoroscopy), Technology (Direct, Computed), System (Retrofit, New), End Users, Price Range, Type- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The global Digital X-ray market size was estimated at USD 11.1 billion in 2021 and is expected to surpass around USD 22.4 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 10.9% during the forecast period 2022 to 2030.

The major factors driving the growth of this market include the increasing geriatric population and growth in disease incidence as well as favourable government regulations, investments, and initiatives. The advantages of digital X-ray systems have played a key part in their adoption; their speed and accuracy, as well as quick processing times, allow for significantly higher patient screening volumes than earlier. This has pushed companies to focus on product development and innovation. However, these systems are priced at a premium, which slows their greater adoption. Other factors such as declining reimbursements, lack of infrastructure, particularly in developing and underdeveloped countries, and potential risks associated with radiation exposure are also expected to hinder the growth of this market.

Report Scope of the Digital X-ray Market

COVID-19 Impact on the global digital X-ray market

The COVID-19 pandemic adversely affected the economy in 2020 and presented various challenges to clinical healthcare providers and patients across the globe. COVID-19 has also impacted various stages of the value chain, primarily due to strict lockdowns imposed by the governments of most countries. The turnaround time for the delivery of products and services has also been affected due to newer packaging protocols and lockdown measures imposed by countries. All these factors are negatively impacting the manufacturing and supply chain of digital X-ray systems.

However, COVID-19 has unleashed new opportunities for digital X-ray manufacturers and healthcare providers. In settings where laboratory testing (RT-PCR) is not available, or results are delayed or are initially negative, chest imaging has been considered as an alternative approach for patients with suspected or probable COVID-19. Imaging, including chest radiography, CT scans, and lung ultrasounds, has been considered to complement clinical evaluation and laboratory parameters in managing patients already diagnosed with COVID-19. According to the WHO, chest radiography can be helpful in the dynamic evaluation of COVID-19 pneumonia and its complications. Resolution or the progress of lung consolidation seen on a bedside chest radiograph can help caregivers make better therapeutic management decisions. Chest imaging can also inform the management of pneumothorax or pneumomediastinum.

Digital X-ray Market Dynamics

Driver: Continuous technological advancements and product development

Technological advancements are a crucial factor for the growth of the digital X-ray market. Factors such as image quality, image acquisition time, portability, detector form, and software create and increase the demand for digital X-ray systems. The demand for advanced digital X-ray systems increases due to benefits such as their ability to process large volumes of data and examine patients rapidly. Various companies are developing digital systems with improved performance and efficiency. These systems enable radiologists to address a broad range of clinical applications with diagnostic-quality images and stitching functionality. Innovation and the development of advanced systems help boost the market for digital X-ray systems. Some recent developments in this market includes, introduction of AMX Navigate, a portable digital X-ray system by GE healthcare in September 2021. Similarly, in March 2021, Koninklijke Philips N.V. (Netherlands) received 510(k) clearance from the US Food and Drug Administration for a CombiDiagnost R90, a remote-controlled fluoroscopy system in combination with high-end digital radiography

Restraint: High cost of digital X-ray system

Digital X-ray systems are priced at a premium and require high investments for installations, which increases the procedural cost for patients as well. This affects the adoption rate of new systems, especially in emerging countries. Most small and medium-sized hospitals cannot afford these systems, as their budgets are low or restricted. Healthcare facilities that purchase such costly systems often depend on third-party payers (such as Medicare, Medicaid, or private health insurance plans) for reimbursements for costs incurred in diagnostic, screening, and therapeutic procedures performed using these systems. The high cost of digital X-ray systems also pushes end users toward refurbished systems, directly affecting the sales of new and advanced systems. This, along with continuous cuts in reimbursements for diagnostic imaging scans, prevents imaging centers from investing in technologically advanced diagnostic imaging modalities, which restrains the growth of the overall market.

Opportunity: Development of AI-based digital X-ray system

The application of artificial intelligence (AI), primarily in medical imaging, is one of the most promising areas of health innovation. Many ongoing research & development programs have contributed to the industry in this regard. Currently, R&D activities are being conducted by various companies to provide AI in different imaging modalities, including digital X-ray systems. For instance, in RSNA 2020, GE launched a new AI algorithm in its Critical Care Suite 2.0, designed for use with GE’s mobile X-ray system. In August 2020, Canon Medical Systems partnered with Zebra Medical Vision (Zebra-Med) to offer its AI1 automated imaging analysis solutions to help clinicians in the US provide faster, more accurate diagnoses for optimized patient care. These advancements have further led to a positive adoption trend for AI in diagnostic imaging.

Challenge: Increased adoption of refurbished systems

Many hospitals in developing countries cannot invest in digital X-ray systems due to budget constraints, high equipment costs, and poor reimbursement rates. However, hospitals that cannot afford to invest in new imaging systems opt for refurbished ones due to the strong demand for digital imaging procedures globally. Refurbished systems are often priced lower than new systems. However, the increasing demand for refurbished devices poses a major challenge for market players, especially small manufacturers. To strengthen their position in the market and create a strong user base for their imaging systems, market players either have to position their products at lower prices or develop better or more advanced technologies that can address the unmet needs in the market.

The general radiography segment accounted for the largest share of the global digital X-ray market, by application, in 2021

Based on applications, the digital X-ray market is segmented into general radiography, dental applications, fluoroscopy, cancer, and mammography applications. The general radiography segment is expected to dominate this market during the forecast period. Growth in this market can be attributed to the increasing prevalence of target diseases, high demand for early diagnosis and diagnostic imaging, and technological advancements in the digital X-ray systems market.

The direct radiography segment, by technology, accounted for the largest share of the global digital X-ray market in 2021

Based on technology, the digital X-ray market is segmented into direct radiography and computed radiography. The direct radiography segment accounted for the largest market share in 2020. The advantages associated with direct radiography systems, such as effective dynamic range, better medical evaluation, superior and accurate image capture, and reduced radiation exposure for patients and workers, are contributing to the growth of this technology segment. A major benefit of DR-based systems over film and CR systems is that images are sent directly to a computer screen from the X-ray imaging plate, thereby eliminating the need to retrieve the image plate for processing images or taking a second X-ray shot. An effective dynamic range, better medical evaluation, superior and accurate image capture, reduced radiation exposure for patients and workers, flexibility in image management, improved patient throughput, superior evaluation of data and images, and lower operational costs are some of the other advantages of DR systems. Due to these advantages, the use of DR systems is on the rise.

On the basis of systems, new digital X-ray systems segment is expected to grow with the highest growth rate in the global digital X-ray market in 2021

On the basis of systems, the global digital X-ray market is segmented into new digital X-ray systems and retrofit digital X-ray systems. The retrofit digital X-ray systems segment is expected to dominate the market during the forecast period. The large share of this segment can be attributed to the greater adoption of retrofit systems among end users due to their lower cost compared to new digital X-ray systems. However, the new digital X-ray systems segment is expected to grow at a higher CAGR during the forecast period due to the implementation of government initiatives that have reduced reimbursements for analog and computed X-ray systems.

The Asia Pacific market is expected to grow at the highest CAGR during the forecast period

On the basis of region, the digital X-ray market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is expected to register the highest growth during the forecast period. The Asia Pacific is segmented into China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific, including Malaysia, Taiwan, Singapore, and New Zealand. Growth in the digital X-ray market in the Asia Pacific is mainly driven by the growing geriatric population, particularly in Japan; increasing disposable incomes, allowing for greater affordability for advanced technologies; the rising prevalence of target diseases; and favorable government initiatives. Such factors help to drive the market for digital imaging systems in this region and draw foreign investments and partnerships. On the other hand, low hospital budgets, high equipment costs, and a lack of government investments in some countries are limiting the growth of the market in the Asia Pacific to a certain extent.

Some of the prominent players in the Digital X-ray Market include:

 Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), GE Healthcare (US), Canon, Inc. (Japan), Carestream Health (US), FUJIFILM Holdings Corporation (Japan), Shimadzu Corporation (Japan), Hologic Inc. (US), Agfa-Gevaert Group (Belgium), Samsung Medison (South Korea), Konica Minolta (Japan), Shenzhen Mindray Bio-Medical Electronics Co. (China), Varex Imaging Corporation (US), MinXray, Inc. (US), and ACTEON (France), among others.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Digital X-ray market

Global X-ray market, by Type

• Analog X-ray Systems
• Digital X-ray Systems

Global Digital X-ray market, by Application

• General Radiography
• Chest Imaging Applications
• Orthopedic Applications
• Cardiovascular Imaging
• Other General Radiography Applications
• Dental Applications
• Mammography
• Cancer
• Fluoroscopy

Global Digital X-ray market, by Technology

• Direct Radiography
• Computed Radiography

Global Digital X-ray market, by Portability

• Fixed Digital X-ray Systems
• Floor-to-Ceiling-Mounted Systems
• Ceiling-Mounted Systems
• Portable Digital X-ray Systems
• Mobile X-ray Systems
• Handheld X-ray Systems

Global Digital X-ray market, by Systems

• Retrofit Digital X-ray Systems
• New Digital X-ray Systems

Global Digital X-ray market, by End Users

·       Hospitals

·       Diagnostic Centers

·       Dental Care Centers

Global Digital X-ray market, by Price Range

• Low-End Digital X-ray Systems
• Mid-Range Digital X-ray Systems
• High-End Digital X-ray Systems

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Digital X-ray industry analysis from 2022 to 2030 to identify the prevailing Digital X-ray industry opportunity.
• 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 global Digital X-ray industry 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 X-ray industry trends, key players, market segments, application areas, and market growth strategies.