Digital Radiography Market Worth USD 2,978.3 Million at 5.0% CAGR Forecast till 2026

 X-ray detectors over the years have exhibiting a steady growth, backed by several recent technological advancements. The shift from analog 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.

Fortune Business Insights in a new study, titled “Digital Radiography Market: Global Market Analysis, Insights and Forecast, 2018-2026” predicts the market to grow significantly on account of such technological developments in digital radiology. 

The global digital radiography market is forecast to gain momentum in response to its rising demand from areas such as orthopedic, dental, mammography, and chest imaging. In 2018, the global digital radiography market was valued at US$ 1905.5 Mn and is anticipated to reach US$ 2978.3 Mn by 2026. Against these figures, Fortune Business Insights predicts the global market to exhibit a CAGR of 5.0% between 2018 and 2026.

Several savvy players in the digital radiography market are planning to incorporate innovative and advanced features in their digital radiography products. This is primarily done to strengthen their position and lead the market. Key players such as Agfa-Gevaert Group, FUJIFILM Holdings America Corporation, and Varex Imaging Corporation among others were the leading the market in 2017.

These companies held dominance in the digital radiography market owing to their robust distribution network and diversified product portfolio.  This is further encouraging other players to launch innovative and cost-effective digital radiology products in the global radiography market.

These players such as Konica Minolta Business Solutions U.S.A., Inc., Canon U.S.A., Inc., and other players covered more than 50% of the global digital radiography market in 2018. Some other players operating in the market are KA Imaging, Imaging Dynamics Company Ltd., Detection Technology Plc., Hamamatsu Photonics K.K., and Teledyne Digital Imaging Inc.

Introduction of New Lightweight and Wireless Flat Panel Detectors to Spur Growth

“The innovative digital radiography systems have detectors with high-quality image acquisition and reduced radiation exposure,” stated a lead analyst at FBI. “These new features are expected to fuel demand for digital radiology products in the coming years,” he added. The rising adoption of filmless radiology is likely to offer new growth opportunities in the upcoming years.

In addition to this, increasing geriatric population across the world will increase the consumer base for different digital radiography systems such as portable digital radiography and handheld digital radiography systems. The aged population is more vulnerable to chronic disorders such as respiratory, dental, cardiovascular, and orthopedic. This will generate a positive outlook for the digital radiography market due to the rising demand from people aged 65 years and above.

Asia Pacific to Exhibit the Highest CAGR Owing to the Rising Number of Mammography, Cardiovascular, and Orthopedic Procedures

In 2018, North America dominated the global digital radiography market. The North America market was valued at US$666.5 Mn. Regulatory reforms in the U.S. such as reimbursement cuts for analog and CR-based imaging are steering healthcare organizations away from CR-based x-ray systems to DR-based systems. This, along with the availability of retrofit digital radiography detectors, is ascribed to the rapid adoption of digital radiology detectors in the U.S.

Also, Asia Pacific is projected to register a comparatively higher CAGR during 2019-2026, owing to an increasing demand for C-arms in countries such as China. This will in turn increase the use of innovative digital radiography detectors in several procedures such as cardiovascular, mammography, and others. This will further create impressive growth opportunities for the digital radiography market in Asia Pacific through 2026.

Browse Complete Report Details at https://www.fortunebusinessinsights.com/industry-reports/digital-radiography-market-100162

The global digital radiography market can be segmented into the following categories: