The key factors that drive the market growth include increase in adoption of digital radiology; growth in incidence of dental disorders, breast cancer, cardiovascular diseases, and orthopedic diseases; and reduction of time consumption during imaging provided by digital radiology. However, dynamic economy and strict regulatory policies regarding approval, high cost of the digital radiology instruments, and excessive exposure to radiation may hamper the growth of this market. Furthermore, increase in medical tourism is expected to provide an opportunity for market expansion. The global digital radiology market was valued at $5,989 million in 2015, and is expected to reach $12,156 million by 2022, registering a CAGR of 10.6% from 2016 to 2022.
The global digital radiology market is segmented on the basis of product, technology, application, end user, and geography. The product category includes stationary digital radiology systems and portable digital radiology systems. Stationary digital radiology systems are further categorized into ceiling-mounted systems and floor-to-ceiling mounted systems, whereas, portable digital radiology systems are classified into handheld radiology and mobile radiology systems. The stationary digital radiology segment dominated the market, owing to high adoption of ceiling-mounted systems. Based on technology, the market is divided into computed radiology and direct digital radiology. Based on application, it is categorized into cardiovascular imaging, chest imaging, dental imaging, mammography imaging, orthopedic imaging, and other imaging methods. Cardiovascular imaging held the highest market share in 2015, owing to the increase in cardiovascular diseases. By, the market is analyzed across hospitals, diagnostic centers, and other end users. Diagnostic centers segment was the highest revenue contributor in 2015 owing to the rise in prevalence of diseases and increase in demand for digital radiology for diagnosing diseases.
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest market share in 2015, and is expected to retain its dominance throughout the forecast period. This is attributed to the sophisticated healthcare infrastructure, government support in terms of funding, and high adoption rate for technologically advanced digital imaging devices. However, Asia-Pacific is expected to emerge as a lucrative area with maximum growth potential, due to the improvement in healthcare facilities, available disposable income, and rapidly developing economic conditions.
KEY MARKET BENEFITS
The study provides an in-depth analysis of the global digital radiology market, with current trends and future estimations to elucidate the imminent investment pockets.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
Quantitative analysis of the industry from 2014 to 2022 is presented to enable stakeholders to capitalize on the prevailing market opportunities.
Extensive analyses of key segments of the industry assist in understanding the types of product and technology used globally.
Key market players and their strategies are provided to understand the competitive outlook of the market.
DIGITAL RADIOLOGY MARKET KEY SEGMENTS:
By Product Type
Stationary Digital Radiology Systems
Floor-To-Ceiling Mounted Systems
Portable digital radiology systems
Handheld Radiology Systems
Mobile Radiology Systems
Direct Digital Radiology
By End User
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
KEY PLAYERS PROFILED
Fujifilm Holdings Corporation
General Electric Company
Hitachi Medical Corporation
Konica Minolta, Inc.
Koninklijke Philips N.V.
Other players in the value chain include (profiles not included in the report)
Swissray International, Inc.
Narayana Health Teleradiology
VIDAR Systems Corp.
Basda Medical Apparatus Co., Ltd.
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. PORTERS FIVE FORCES ANALYSIS
3.4. GOVERNMENT REGULATION
3.5. PATENTS ANALYSIS
3.5.1. Global digital Radiology Market Patent Analysis, by Year, 2010-2017
3.5.2. Global digital Radiology Market Patent Analysis, by Region, 2010-2017
3.5.3. Global digital Radiology Market Patent Analysis, by Applicants, 2010-2017
3.6. MARKET SHARE ANALYSIS, 2015
3.7. MARKET DYNAMICS
184.108.40.206. Increasing adoption of portable radiology systems
220.127.116.11. Continuous technological advancements
18.104.22.168. Rise in incidence of chronic diseases
22.214.171.124. Favorable reimbursement policies in developed regions
126.96.36.199. Inappropriate evaluation of radiation doses
188.8.131.52. Expensive installation of stationary digital radiology systems
184.108.40.206. Increase in the shift from film-based radiology to digital radiology
220.127.116.11. Untapped emerging markets
CHAPTER 4 DIGITAL RADIOLOGY MARKET, BY PRODUCT
4.1.1. Market size and forecast
4.2. STATIONARY DIGITAL RADIOLOGY SYSTEMS
4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast
18.104.22.168. Ceiling-Mounted Systems
22.214.171.124.1. Market size and forecast
126.96.36.199. Floor-To-Ceiling Mounted Systems
188.8.131.52.1. Market size and forecast
4.3. PORTABLE DIGITAL RADIOLOGY SYSTEMS
4.3.1. Key market trends
4.3.2. Growth factors and opportunities
4.3.3. Market size and forecast
184.108.40.206. Handheld Radiology Systems
220.127.116.11.1. Market size and forecast
18.104.22.168. Mobile Radiology Systems
22.214.171.124.1. Market size and forecast
CHAPTER 5 DIGITAL RADIOLOGY MARKET, BY APPLICATION
5.1.1. Market size and forecast
5.2. CARDIOVASCULAR IMAGING
5.2.1. Market size and forecast
5.3. CHEST IMAGING
5.3.1. Market size and forecast
5.4. DENTAL IMAGING
5.4.1. Market size and forecast
5.5. MAMMOGRAPHY IMAGING
5.5.1. Market size and forecast
5.6. ORTHOPEDIC IMAGING
5.6.1. Market size and forecast
5.7. OTHER DIGITAL RADIOLOGY APPLICATIONS
5.7.1. Market size and forecast
CHAPTER 6 DIGITAL RADIOLOGY MARKET, BY TECHNOLOGY
6.1.1. Market size and forecast
6.2. DIRECT DIGITAL RADIOLOGY
6.2.1. Market size and forecast
6.3. COMPUTED RADIOLOGY
6.3.1. Market size and forecast
CHAPTER 7 DIGITAL RADIOLOGY MARKET, BY END USER
7.1.1. Market size and forecast
7.2.1. Market size and forecast
7.3. DIAGNOSTIC CENTERS
7.3.1. Market size and forecast
7.4. OTHER END USER
7.4.1. Market size and forecast
CHAPTER 8 DIGITAL RADIOLOGY MARKET, BY GEOGRAPHY
8.1.1. Market size and forecast
8.2. NORTH AMERICA
8.2.1. Key market trends
8.2.2. Key growth factors and opportunities
8.2.3. Market size and forecast
126.96.36.199. U.S. market size and forecast
188.8.131.52. Mexico market size and forecast
184.108.40.206. Canada market size and forecast
8.3.1. Key market trends
8.3.2. Key growth factors and opportunities
8.3.3. Market size and forecast
220.127.116.11. Germany market size and forecast
18.104.22.168. France market size and forecast
22.214.171.124. UK market size and forecast
126.96.36.199. Italy market size and forecast
188.8.131.52. Spain market size and forecast
184.108.40.206. Russia market size and forecast
220.127.116.11. Rest of Europe market size and forecast
8.4.1. Key market trends
8.4.2. Key growth factors and opportunities
8.4.3. Market size and forecast
18.104.22.168. Japan market size and forecast
22.214.171.124. China market size and forecast
126.96.36.199. Australia market size and forecast
188.8.131.52. India market size and forecast
184.108.40.206. South Korea market size and forecast
220.127.116.11. Taiwan market size and forecast
18.104.22.168. Rest of Asia-Pacific market size and forecast
8.5.1. Key market trends
8.5.2. Key growth factors and opportunities
8.5.3. Market size and forecast
22.214.171.124. Brazil market size and forecast
126.96.36.199. Turkey market size and forecast
188.8.131.52. Venezuela market size and forecast
184.108.40.206. Saudi Arabia market size and forecast
220.127.116.11. South Africa market size and forecast
18.104.22.168. Rest of LAMEA market size and forecast
CHAPTER 9 COMPANY PROFILES
9.1. AGFA-GEVAERT GROUP
9.1.1. Company overview
9.1.2. Operating business segments
9.1.3. Business performance
9.1.4. Key strategic moves and developments
9.2. CANON INC.
9.2.1. Company overview
9.2.2. Operating business segment
9.2.3. Business performance
9.2.4. Key strategic moves and developments
9.3. CARESTREAM HEALTH
9.3.1. Company overview
9.3.2. Operating business segments
9.3.3. Business performance
9.3.4. Key strategic moves and developments
9.4. FUJIFILM HOLDINGS CORPORATION
9.4.1. Company overview
9.4.2. Operating business segments
9.4.3. Business performance
9.4.4. Key strategic moves and developments
9.5. GENERAL ELECTRIC COMPANY
9.5.1. Company overview
9.5.2. Operating business segments
9.5.3. Business performance
9.5.4. Key strategic moves and developments
9.6. HITACHI MEDICAL CORPORATION
9.6.1. Company overview
9.6.2. Operating business segments
9.6.3. Business performance
9.6.4. Key strategic moves and developments
9.7. KONICA MINOLTA, INC.
9.7.1. Company overview
9.7.2. Operating business segments
9.7.3. Business performance
9.8. KONINKLIJKE PHILIPS N.V.
9.8.1. Company overview
9.8.2. Operating business segments
9.8.3. Business performance
9.8.4. Key strategic moves and developments
9.9. SIEMENS AKTIENGESELLSCHAFT
9.9.1. Company overview
9.9.2. Operating business segments
9.9.3. Business performance
9.9.4. Key strategic moves and developments
9.10. VARIAN MEDICAL SYSTEMS
9.10.1. Company overview
9.10.2. Operating business segments
9.10.3. Business performance
9.10.4. Key strategic moves and developments
Digital radiology is vital tool gaining steady popularity in medical imaging, worldwide. Incorporation of digital X-ray sensors in digital radiology aids increases the efficiency and speed of workflow. Digital radiology systems assist in the diagnosis of various chronic diseases such as breast cancer, cardiovascular diseases, and respiratory diseases. Digital radiology is incorporated at a large scale in multispecialty clinics, hospitals, and huge diagnostic centers. High-quality imaging provided by thus technology with minimal radiation exposure drives the demand for digital radiology devices.
The market is driven by increase in prevalence of chronic diseases, rise in adoption of portable digital radiology systems, and growth in technological advancements pertaining to these systems. For instance, wireless X-ray detectors and advanced software used to transmit imaging data are gaining significant foothold in the digital radiology market. However, threat of excessive exposure to radiations and high costs associated with the installation of statiory digital radiology systems are anticipated to restrain the market growth.
The statiory digital radiology segment accounted for a major market share in 2015, owing to their widespread application, high adoption of statiory systems in hospitals, and less exposure to radiation. However, in terms of value, portable digital radiology segment is anticipated to register a high growth rate as they facilitate exceptiol care for patient, especially in the emergency department, ICU, neotal intensive care unit (NICU), and operating rooms. This is attributed to the low-cost, lightweight ture, ease of workflow, and high capability of performing complex computatiol tasks. For instance, FDR Go is the latest mobile digital radiology offered by Fujifilm that offers highly detailed imaging, consistent system availability, ease-of-use, and versatility.
Computed radiology accounted for the largest market share in 2015, and is expected to generate $6,964 million by 2022, growing at the CAGR of 9.6% during the forecast period. In addition, direct digital radiology is projected to register the highest CAGR of 12.0%.
The cardiovascular imaging segment is expected to domite the market by application, owing to rise in incidence of cardiovascular diseases such as coronary heart disease (CHD). However, digital mammography is estimated to grow at a higher rate due to the increase in awareness about breast cancer. Diagnostic centers is expected to maintain its domint position throughout the alysis period, owing to the high prevalence of diseases and high adoption of technologically advanced digital radiology devices.
Key findings of the Digital Radiology Market
In terms of volume, portable digital radiology segment is projected to grow at the highest growth rate during the alysis period.
In 2015, computed radiology segment led the market, accounting for more than three-fifths share.
Dental imaging segment is expected to grow at a rapid rate, registering a CAGR of 11.9%.
U.S. was the major shareholder in the North American market in 2015, and is expected to grow at a CAGR of 10.2%.
In terms of volume, Asia-Pacific held the largest market share in 2015, and is anticipated to maintain its lead position throughout the forecast period.
Diagnostic center was the highest revenue-generating end-user segment in 2015, and is expected to continue its domince in the future.
Asia-Pacific has witnessed highest growth rate for digital radiology systems, in terms of volume, and is expected to continue this trend, owing to rapid growth of the healthcare industry and increase in incidence of chronic diseases, specifically in Chi and India. Moreover, the shift from alog radiology to digital radiology has boosted the demand for novel digital radiology devices for improved services.
Prominent players operating in the digital radiology market are Agfa-Gevaert Group, Canon Inc., Carestream Health, Fujifilm Holdings Corporation, General Electric Company, Hitachi Medical Corporation, Konica Minolta, Inc., Koninklijke Philips N.V., Siemens Aktiengesellschaft, and Swissray Intertiol, Inc.
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.