Digital Radiography Market to Expand at 5% CAGR, FDA Clearance to Philips and Other Companies to Enable Growth Forecast till 2026
Pune, India -- (SBWIRE) -- 06/14/2019 -- The Global Digital Radiography Market, which was valued at US$ 1,905.5 Mn in 2018, is projected to reach US$ 2,978.3 Mn by the end of 2026, exhibiting a CAGR of 5.0%. X-ray detectors is a fast-growing sector that has perceived a number of technological advancements since its inception, including a shift from analog film processed x-ray imaging to digital flat panel detectors.
Sample PDF Brochure:
This shift is primarily driven by the rise in adoption of digital flat panel detectors in hospitals and medical imaging centers globally. The digital radiography market is expected to generate higher demand on account of high-quality image acquisition in short duration by digital detectors and reduced radiation exposure as compared to analog systems. This, along with the introduction of new lightweight and wireless flat panel detectors, is expected to drive the growth of the global during 2019-2026.
The market players are aiming at incorporating advanced and innovative features into their products to strengthen their position in the market.The Global Digital Radiography Market is likely to gain significant impetus from recent technological advancements.
According to a report published by Fortune Business Insights, titled 'Digital Radiography Market Size, Share and Global Trend by Product Type (Computed Radiography, Direct Digital Radiography), Application (General, Radiography Dentistry, Oncology, Orthopedic) End User (Hospital, Clinics, Diagnostic Centers) and Geography Forecast till 2026,' the market is likely to expand at an in impressive rate of 5.0% CAGR due to exceptional advancements made in the field of medical X-Ray technology. Fortune Business Insights has predicted a market to reach a value of US$ 2,978.3 Mn by the end of 2026.
The report has pegged the Digital Radiography Market at US$ 1,905.5 Mn in 2018. On the basis of product, the global digital radiography market is segmented into computer radiography and direct digital radiography, X-ray detectors over the years have exhibited a steady growth, backed by several recent technological advancements. The shift from analogy film processed x-ray imaging to digital flat panel detectors is expected to increase the adoption of digital flat panel detectors, especially in medical imaging centers and hospital worldwide.
With high precision devices, it is possible to obtain images of the highest caliber for simplified treatment and diagnosis. Digital radiography principles enable quick image diagnosis and detection due to their ability to transfer the medical image into a computer or any other device for that matter. As people around the world demand faster methods to treat and diagnose their injuries or disorders, the global digital radiography market is likely to grow rapidly in the forecast period.
Rising Geriatric Population: A Major Driving Force
The increasing geriatric population is one of the key factors giving tailwinds to the growth of the digital radiography market. According to the report, the pace of gains for the market will accelerate in response to the increasing geriatric population. Among all age groups, aged people are most vulnerable to chronic diseases, as their immunity decreases with time. Furthermore, their mobility is often compromised with due to a prolonged illness, which also mars their ability to travel to hospitals, diagnosis centers, or clinics Thus, the demand for digital radiography devices is likely to remain high among geriatric population.
Philips Receives FDA Clearance for 'ProxiDiagnost N90': Claims Dose-Rate Reduction up to 68%
In 2018, Philips received FDA approval for its product 'ProiDiagnost N90'. This device was a first of its kind digital radiography fluoroscopy system, aimed at diagnosis and medical imaging of the highest precision. ProxiDiagnost N90 allowed diagnosis within no time, and at the same time, enables high quality x-ray images. The device uses the mechanism of a flat-panel x-ray detector. With its optimum efficiency, the device also carries out the work of several frames and operates within a single frame. Furthermore, the company went out to state that with its grid-control fluoroscopy (GCF) method, it will massively reduce patient-dosage rates up to 68%. The product is most likely to be adopted rapidly in the forthcoming years due to its hugely successful initial reviews. Encouraged by the success of ProxiDiagnost N90, Fortune Business Insights expects newer products to follow, soon.
Drawbacks of Film-Based Processing to Increase Demand for Digital Radiography
Conventionally used film based image processing possessed several drawbacks. These drawbacks included a long time for processing, inefficient diagnosis, and unclear images. Furthermore, some film-based x-ray image processing machines contained a lot of space and were naturally heavy to carry and relocate. Thus, the need and demand for portability was a key factor in creating growth opportunities for the digital radiography market. The aforementioned factors led to the demand for a portable radiography device, wherein the machine could be carried to patients and not the vice versa. Digital radiography equipment sufficed all such needs and thus, they have been widely adopted by end-users, globally
Some of the leading companies operating in the global digital radiography market are Varex Imaging Corporation, Agfa- Gravaert Group, FUJIFILM Holdings America Corporation, Konica Minolta Business Solutions U.S.A., Inc., Canon U.S.A., Inc. KA Imaging, Imaging Dynamics Company Ltd., Detection Technology Plc., Hamamatsu Photonics K.K., and Teledyne Digital Imaging Inc.
Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.