Global Digital Radiology Market is Estimated to Reach $18.5 Billion by 2024, Says Accurize Market Research
Global Digital Radiology Market report published by Accurize Market Research forecast that the global market is expected to reach $18.5 billion by 2024; growing at a CAGR of 5.2% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Rising incidences of chronic diseases to drive the global radiology market
Rising incidences of chronic diseases, increasing adoption of portable radiology, increased spending on healthcare infrastructure are few of the drivers fueling the growth of global digital radiology market. However, high expense on installation and risk of patient’s exposure to radiation may confine the market growth. Moreover, innovations in advanced systems and surge in preference from film based radiology to digital radiology may increase the growth prospects of the market.
Market Segmentation
Global digital radiology market is split into two segments that are device type and geography. Device type segment is categorized as digital detectors, portable radiology systems, and mobile C arm.
North America, Europe, Asia-Pacific and rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S., Canada and Mexico. Europe covers countries like Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific countries include China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Africaand Middle East.
"Digital detectors accounted for the largest market share in the device type segment", says Accurize
In device type segment, digital detectors hold the maximum market share, while mobile C arm market is anticipated to display the highest growth rate during the forecast period.
"North America dominated the global market with the highest market share over the forecast period", says Accurize
North America accounted the largest market share in 2017 with 40.4% of total share, followed by Europe with share of 30.4%. In terms of growth, Asia-Pacific will attain the highest CAGR, due to adoption of advanced technologies, increasing number of regulatory approvals, entry of local manufacturers, improved distribution networks, and launch of new devices.
Top players in the market
Major companies active in the market include Konica Minolta, Inc., Carestream Health, Hitachi Medical Corporation, Shimadzu Corporation, Canon Inc., Agfa-Gevaert Group, General Electric Company, Fujifilm Holdings Corporation and Siemens AG, among others.
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