Kenneth Research, in its repository of market research reports, has recently added a report on Digital Radiology Devices Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Digital Radiology Devices Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Digital Radiology Devices Market products.
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The global digital radiology device is a segment of the imaging devices market. Digital radiology devices the fastest growing segment for the global imaging devices. The global digital radiology devices market expected to grow significantly over the forecast period. It is anticipated that the market held a value of USD 8146.54 million in 2018 and is projected to grow at a CAGR of 10.8% over the forecast period. Digital radiology device is one of the major segment of the imaging device and is expected to grow at the fastest growth rate. The major factors influencing the growth of the market include; rising economic growth, increasing growth in technological advancement in the field of medical devices, increasing demand for portable imaging devices, increasing applications of digital radiology.
Dentistry is one of the applications of digital radiology devices. Newly emerging models for patient care are evolving clinical environments for dentists. It is expected that digital radiology device is to replace traditional manufacturing in the near future due to various reasons which include better predictability, increased accuracy, increased efficiency, and cost-effectiveness. These emerging models have hiked the growth of Dental Service Organizations. DSOs stand to gain a more dominant presence in the dental industry.
According to study, Dental Service Organizations (DSOs) currently comprise about 7% of the dental market, but they are expected to grow to about 20% of the market as DSOs enable dentists to invest in new technology. In addition, many of the dentists joining DSOs are more likely to incorporate these technologies into their practices. Hence, DSOs will help in driving the market for digital radiology device globally. However, factors such as the risk of ionizing radiations for children and teens and high-cost surgery device are hampering the growth of the market.
The global digital radiology devices market has been segmented into type, method, application, and end user.Based on type, market segmented into stationary digital radiology systems, (Ceiling-mounted systems, Floor-to-ceiling mounted systems) and portable digital radiology systems (Handheld radiology systems, Mobile radiology systems)
On the basis of method, the market is segmented into computed radiography (CR) and direct radiography (DR)Based on application, the digital radiology devices market is segmented into cardiovascular imaging, chest imaging, dental imaging, mammography imaging, orthopedic imaging, and others.Based on end user, the digital radiology devices market is segmented into hospitals and clinics, diagnostic centers, and others.
The global digital radiology devices market, by region, has been segmented, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Digital Radiology Devices market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.The European Digital Radiology Devices market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The Digital Radiology Devices market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The Digital Radiology Devices market in the Middle East & Africa has been segmented into the Middle East and Africa.
Some of the prominent players in the global digital radiology devices market are Agfa-Gevaert Group,
Canon Inc, Carestream Health Inc, Fujifilm Holdings Corporation, General Electric Company, Hitachi, Ltd., Konica Minolta, Inc, Koninklijke Philips N.V., Siemens, Varian Medical Systems, Inc, Shimadzu Corporation, Hologic, Nucleotech Medical Systems International Limited, Protec GmbH & Co. KG
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Regional Market Summary
Geographically, the Americas is anticipated to dominate the global digital radiology devices market owing to the presence of a huge patient population, increasing adoption of advanced technology in the field of diagnostics device, high healthcare expenditure, and the presence of major players in the region.Europe is expected to hold the second largest position in the global digital radiology devices market.
Asia-Pacific is the fastest growing digital radiology devices market owing to the increasing demand for better imaging devices, the presence of a huge patient pool and rapidly improving the technology. Moreover, many manufacturers are trying to expand their presence in the region due to rapidly growing economies and the increasing availability of funds, and growing demand for the advanced imaging devices.
The Middle East and Africa market for digital radiology devices is expected to grow at a steady pace.
Global Digital Radiology Devices Market, by Type
Stationary digital radiology systems
Floor-to-ceiling mounted systems
Portable digital radiology systems
Handheld radiology systems
Mobile radiology system
Global Digital Radiology Devices Market, by Method
Computed radiography (CR)
Direct radiography (DR)
Global Digital Radiology Devices Market, by Application
Global Digital Radiology Devices Market, by End User
Hospitals & Clinics
Global Digital Radiology Devices Market, by Region
Rest of Western Europe
Rest of Asia-Pacific
Middle East & Africa
Digital radiology devices manufacturers
Digital radiology devices distributors
Hospitals, clinics, and associations
Private insurance companies
Various research and consulting firms
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