Digital radiology or x-ray is a form of x-ray imaging with help of digital sensors instead of traditional photo films. The newly discovered digital x-ray technology is the latest sensation in the medical industry. In fact, radiology is the largest segment in the in the medical imaging industry. It has various technologically advanced products such as analogs, fluoroscopy, digital radiography, computer radiography, etc. with great demand on global level. The global digital x-ray market has great potential for growth and expansion in the coming future.
Radiology is the most common medical imaging and diagnostic method, which has great segmentation in terms of types, major products and applications. The digital x-ray market is also segmented based on the geographical demands for these products. Computational radiography and digital radiography are the two major types of this method. The most common products used for these methods include flat panel detectors, complementary metal-oxide-semiconductor, charge couple devices, software and x-ray contrast media.
Digital radiology is commonly used for the detection of abnormality inside the blood vessels, bone structure and such thick body systems. Common applications of this method include in the diagnostics tests such as mammography, chest imaging, neonatal, musculoskeletal and whole body imaging and dental fluoroscopy. As far as leader in the market is concerned, the computer radiography section holds more than 70% market shares. Cost is the biggest driving factor for these diagnostics.
As far as geographical demands for digital x-ray testing are concerned, Europe is the global leader with greater demands and adoption of these systems. It currently holds around 28% shares of the global market for digital x-ray techniques. This region is expected to grow at the CAGR of 3.09%. Other region of the world including Middle East, Australia, Brazil and Russia, which account for the rest of the world section; will grow at the CAGR of 5.45%. Rest of the world segment will show largest growth after Asia and Pacific.
In 2013, the digital radiology market is ruled by North America and Europe. Both these regions will continue with the progress in the years to come. However, APAC and RoW regions will definitely show greater strength in terms of growing demands and expenditure on radiological systems. Amongst Asian market, China will supersede the rest. Growing aging population, increasing earning population and increasing concern over medical diagnosis are the major reasons behind growth of this market in APAC.
Continuous adaptability and technological advancements are the major driving factors for this market. However, expenses, risk of exposure to radiation and larger storage space for the equipments are the biggest challenges.
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