X-ray market grows as it goes digital
May 28, 2013 in Medical Technology
The global digital X-ray market is estimated to be worth $4.82 billion by 2018, growing at a CAGR of 4.5 percent from 2013 to 2018, according to a new report from research and marketing firm MarketsandMarkets. The market is divided into three segments based on types, major products and applications in imaging.
Based on types, the market is segmented into computed radiography and digital radiography; the latter is the fastest-growing market.
Analog X-ray systems, which had a major share in the market until 2005, is being replaced by advanced technologies such as computed radiography and digital radiography. Advantages such as low dosage, image quality, image storage and immediate image analysis have made CR and DR systems more attractive compared to conventional analog systems.
[See also: Imaging market set to grow, slowly, to $4.5B by 2017.]
The digital X-ray market is driven by technological advances in automation, growing numbers of elderly people, and need for improved and faster imaging methods, researchers say in a news release. The growing incidence of chronic disease such as tuberculosis, pneumonia and other gastrointestinal disorders are propelling the market in both developed and developing countries. Untapped markets in Asia are expected to offer new opportunities for growth of the market in the forecast period, according to the report. Demographically, the markets in North America and Europe are expected to remain dominant in terms of market share, while Asia is poised to experience rapid growth.
[See also: Breach after mass X-ray silver mining.]
Companies profiled in the report include:
- Agfa HealthCare, (Belgium)
- Canon U.S.A
- Philips Healthcare (The Netherlands)
- Siemens Healthcare (Germany)
- CareStream Health (U.S.)
- Fujifilm Medical Systems, Inc (U.S.)
- GE Healthcare (U.K)
- AC X-ray Corp. (US)
- Imaging Dynamic Company (Canada)
- Konica Minolta (U.S.)
- Swiss Ray International (U.S.)
- UMG/DEL Medical (U.S.)
- Varian Medical Systems (U.S.), and
- iCro, Inc. (U.S.)