The digital X-ray market is expected to reach USD 13.04 billion by 2023 from USD 8.68 billion in 2018, at a CAGR of 8.5%.
The major factors driving the growth of the market are increasing geriatric population and the subsequent growth in global disease incidence, favorable regulations and government initiatives & investments, the advantages of digital X-ray systems, and technological advancements and product development.
Based on application, the market is segmented into general radiography, dental applications, fluoroscopy, and mammography.
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The general radiography segment is expected to register the highest CAGR during the forecast period. The high growth is attributed to the rising prevalence of diseases like tuberculosis, osteoporosis, and cardiovascular diseases; growing aging population; and new product launches are expected to drive the growth of the general radiography application segment in the digital X-ray market.
Based on technology, the digital X-ray market is segmented into direct radiography and computed radiography. The direct radiography segment is projected to register the highest CAGR during the forecast period. The advantages associated with direct radiography systems, such as effective dynamic range, better medical evaluation, higher quality and accuracy of images captured, and reduced radiation exposure, are the key factors driving market growth.
Based on portability, the digital X-ray market is segmented into fixed and portable digital X-ray systems. The portable digital X-ray systems segment is expected to witness the highest growth during the forecast period. Based on system, the digital X-ray market is segmented into new and retrofit digital X-ray systems. The new digital X-ray systems segment is expected to register the highest growth during the forecast period, due to the implementation of government initiatives to reduce reimbursements for analog and computed X-ray systems.
Based on end user, the digital X-ray market is segmented into diagnostic centers and hospitals. The hospitals segment is expected to witness the highest rate during the forecast period. The growth of this end-user segment for digital X-ray is likely to be driven by factors such as increasing government and private investments and the growing adoption of digital X-rays in hospitals.
Among the four regional segments covered in the digital X-ray market—North America, Europe, Asia, and the Rest of the World (RoW), Asia is expected to register the highest CAGR during the forecast period. The growing geriatric population, particularly in Japan; increasing disposable incomes; the rising prevalence of target diseases; and favorable government initiatives are driving market growth in Asia.
