by The global digital radiology market is set to witness substantial expansion in the coming years, driven by a surge in orthopaedic ailments, cancers, and a rising number of serious injuries necessitating radiological diagnosis. Digital radiology, with its cutting-edge digital X-ray systems, technological advancements, and product innovations, is gaining rapid traction over conventional X-rays.
Rapid Rise in Orthopaedic Disorders Drives Demand
A significant factor fueling the demand for digital radiology devices is the rapid increase in the frequency of musculoskeletal illnesses and orthopaedic injuries, leading to limited mobility and excruciating physical pain. The escalating number of orthopaedic care surgeries, the surge in knee replacement procedures, growing requirements for athletic surgeries, and the rise in back pains are all contributing to the robust growth of the digital radiology market. In 2020 alone, a staggering 99,333 major orthopaedic procedures were performed, highlighting the need for advanced digital radiology in the years ahead.
Epidemic of Orthopaedic Disorders
Orthopaedic surgeries and injuries are on the rise due to factors such as lower bone density, osteoporosis, rheumatoid arthritis, and osteoarthritis. According to the International Osteoporosis Foundation, approximately 8.9 million fractures occur annually due to osteoporosis, affecting a significant percentage of both men and women globally. This global upsurge in orthopaedic disorders, coupled with the imperative for early detection and treatment, is expected to propel the digital radiology market forward.
Portable X-ray Devices: Revolutionizing Patient Care
The segment of portable X-ray devices is poised for significant growth due to their advanced technology, increased prevalence of chronic conditions, a growing geriatric population, and heightened awareness of their availability. These compact systems transcend geographical limitations, enabling prompt diagnosis and critical care for patients in life-threatening situations, all without the need for patient transfer to an X-ray room. The continuous launch of portable X-ray machines further fuels the expansion of the digital radiology market.
North America Leads the Way
North America has secured the highest share in the digital radiology market, driven by its advanced healthcare infrastructure. The regions adoption of advanced healthcare technology, coupled with the increasing burden of chronic diseases, is propelling the growth of radiology services. Furthermore, factors such as a growing elderly population, changing lifestyles, enhanced healthcare infrastructure, and the emergence of innovative thin client 3D viewers are all contributing to the regions digital radiology market growth.
Within North America, the United States stands out as a dominant force and is expected to maintain its position in the forecasted period. The rapid transition from traditional imaging methods to digital imaging is underway, with digital imaging predicted to become the most widely used modality. The prevalence of chronic diseases, such as rheumatoid arthritis, necessitates precise diagnosis and treatment plans, further driving the digital radiology markets growth.
Asia Pacific: A Growing Market
The Asia Pacific region is projected to witness significant growth in the global digital radiography market due to rising healthcare expenditures, a growing aging population, and increased affordability of current technology driven by rising disposable incomes. Additionally, favorable government initiatives, a higher incidence of target diseases, and an increase in orthopaedic surgeries are boosting demand for digital imaging systems in the region. For instance, over 50 percent of hip fractures in Asia are expected to result from osteoporosis, with a substantial portion occurring in China. These factors collectively contribute to the flourishing digital radiology market in the Asia Pacific.
Innovations Propel Market Growth
In recent developments, companies such as Mireye Imaging Inc. have introduced AI-powered software for X-ray patient positioning, automating and streamlining the patient positioning process for X-ray exams. GE Healthcare has also introduced The Definium Tempo, a new stationery overhead tube suspension (OTS) digital X-ray system designed to enhance workflow efficiency and patient care.
Key Players
Prominent players in the digital radiology market include Siemens Healthineers, Koninklijke Philips N.V., GE Healthcare, Carestream Health, FUJIFILM Holdings Corporation, Canon, Inc., Shimadzu Corporation, Hologic Inc., Samsung Medison, Agfa-Gevaert Group, Konica Minolta, Shenzhen Mindray Bio-Medical Electronics Co., Varex Imaging Corporation, MinXray, Inc., and ACTEON, among others.
As the global healthcare landscape evolves and the prevalence of orthopaedic disorders and chronic conditions continues to rise, the digital radiology market is poised for remarkable growth, driven by innovation, technological advancements, and a commitment to improving patient care worldwide.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/digital-radiology-market
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This press release first seen on Brilad
COMTEX_441950301/2840/2023-10-15T23:45:23
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
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