Digital radiography systems are used for diagnostic imaging of human body. These systems help detect abnormalities and diseases such as lung diseases, cardiovascular diseases, and cancer. This market is driven by factors such as technological advancements, government investments, aging population, prevalence of diseases, and regulatory approvals. Government initiatives in the forms of grants and funds have provided an impetus to the market.
Technological advancements, which help in introduction of new and innovative devices in the market, are another major factor driving the growth of the market. The relatively untapped Asian market and advent of mobile X-ray systems have opened an array of opportunities for the digital X-ray market to grow.
The global Digital X-ray Market was valued at an estimated $4,687.2 million in 2013 and is expected to reach $8,710.0 million by 2018, growing at a CAGR of 13.2% between 2013 and 2018.
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The report segments this market on the basis of application, technology, portability, product, end user, price, and geography. Among various applications, chest imaging, and dental have the largest shares in 2013, while mammography is forecasted to be the fastest-growing segment in the Digital X-ray Market.
Based on application, the digital X-ray market is segmented into mammography, dental, chest imaging, and others. The mammography market is slated to grow at the highest CAGR owing to the technological advancements due to which new and advanced products are being launched in the market.
Based on technology, the market is subdivided into computed radiography and direct radiography. The direct radiography market is expected to witness the highest growth. This high growth can be attributed to high-quality image acquisition and time-effectiveness provided by these systems. These advantages are the major reasons for the growth of this market.
Based on geography, the global Digital X-ray Market is segmented into North America, Europe, Asia, and Rest of the World (RoW). North America accounted for the largest share of the market in 2013. This large share of the North American region is attributed to the government support in terms of formation of legislation, grants and funding, need for reducing healthcare costs, and the rising awareness of digital X-ray imaging.
The prominent players in the Digital X-ray Market are Canon Inc. (Japan), Carestream Health (U.S.), Fujifilm Medical Systems (Japan), GE Healthcare (U.K.), Hitachi Medical Corporation (Japan), Hologic, Inc. (U.S.), Philips Healthcare (Netherlands), Shimadzu Corporation (Japan), Siemens Healthcare (Germany), and Toshiba Medical Systems Corporation (Japan).
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