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Digital Radiology Market by Product, Technology, Application and End User - Global Opportunity Analysis and Industry Forecast, 2014-2022

  • ID: 4612652
  • Report
  • April 2017
  • Region: Global
  • 210 pages
  • Allied Analytics LLP
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Digital X-ray, also known as digital radiograph or digital radiology, is an innovative imaging technology that is applied in the medical field for different diagnostic procedures, such as dental, orthopedic, chest imaging, and many others. Digital radiology allows the physician to diagnose disorders or other health-related problems through routine examination.

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
Ceiling-Mounted Systems
Floor-To-Ceiling Mounted Systems
Portable digital radiology systems
Handheld Radiology Systems
Mobile Radiology Systems

By Technology

Computed Radiology
Direct Digital Radiology

By Application

Cardiovascular Imaging
Chest Imaging
Dental Imaging
Mammography Imaging
Orthopedic Imaging
Other Applications

By End User

Hospitals
Diagnostic Centers
Others

By Geography

North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Russia
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Taiwan
Rest of Asia-Pacific
LAMEA
Brazil
Turkey
Venezuela
Saudi Arabia
South Africa
Rest of LAMEA

KEY PLAYERS PROFILED

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
Shimadzu Corporation

Other players in the value chain include (profiles not included in the report)

Swissray International, Inc.
Esaote
IMIX ADR
InfiMed Inc.
Narayana Health Teleradiology
Imaging Dynamics
SteleRAD
VIDAR Systems Corp.
Nova Imaging
Basda Medical Apparatus Co., Ltd.
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CHAPTER 1 INTRODUCTION
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
3.7.1. Drivers
3.7.1.1. Increasing adoption of portable radiology systems
3.7.1.2. Continuous technological advancements
3.7.1.3. Rise in incidence of chronic diseases
3.7.1.4. Favorable reimbursement policies in developed regions
3.7.2. Restraints
3.7.2.1. Inappropriate evaluation of radiation doses
3.7.2.2. Expensive installation of stationary digital radiology systems
3.7.3. Opportunities
3.7.3.1. Increase in the shift from film-based radiology to digital radiology
3.7.3.2. Untapped emerging markets

CHAPTER 4 DIGITAL RADIOLOGY MARKET, BY PRODUCT
4.1. OVERVIEW
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
4.2.3.1. Ceiling-Mounted Systems
4.2.3.1.1. Market size and forecast
4.2.3.2. Floor-To-Ceiling Mounted Systems
4.2.3.2.1. 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
4.3.3.1. Handheld Radiology Systems
4.3.3.1.1. Market size and forecast
4.3.3.2. Mobile Radiology Systems
4.3.3.2.1. Market size and forecast

CHAPTER 5 DIGITAL RADIOLOGY MARKET, BY APPLICATION
5.1. OVERVIEW
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. OVERVIEW
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. OVERVIEW
7.1.1. Market size and forecast
7.2. HOSPITALS
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. OVERVIEW
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
8.2.3.1. U.S. market size and forecast
8.2.3.2. Mexico market size and forecast
8.2.3.3. Canada market size and forecast
8.3. EUROPE
8.3.1. Key market trends
8.3.2. Key growth factors and opportunities
8.3.3. Market size and forecast
8.3.3.1. Germany market size and forecast
8.3.3.2. France market size and forecast
8.3.3.3. UK market size and forecast
8.3.3.4. Italy market size and forecast
8.3.3.5. Spain market size and forecast
8.3.3.6. Russia market size and forecast
8.3.3.7. Rest of Europe market size and forecast
8.4. ASIA-PACIFIC
8.4.1. Key market trends
8.4.2. Key growth factors and opportunities
8.4.3. Market size and forecast
8.4.3.1. Japan market size and forecast
8.4.3.2. China market size and forecast
8.4.3.3. Australia market size and forecast
8.4.3.4. India market size and forecast
8.4.3.5. South Korea market size and forecast
8.4.3.6. Taiwan market size and forecast
8.4.3.7. Rest of Asia-Pacific market size and forecast
8.5. LAMEA
8.5.1. Key market trends
8.5.2. Key growth factors and opportunities
8.5.3. Market size and forecast
8.5.3.1. Brazil market size and forecast
8.5.3.2. Turkey market size and forecast
8.5.3.3. Venezuela market size and forecast
8.5.3.4. Saudi Arabia market size and forecast
8.5.3.5. South Africa market size and forecast
8.5.3.6. 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
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The Digital Radiology Market was valued at $5,989 million in 2015, and is projected to reach $12,156 million by 2022, growing at a CAGR of 10.6% from 2016 to 2022. The statiory digital radiology segment held nearly three-fifths share of the global market in 2015.

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.
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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.

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