Digital X-ray devices use digital x-ray sensors instead of films to capture images. This results in immediate preview of the images that ultimately improves time efficiency and capacity to digitally transfer images. The major advantages of digital imaging are cost-effectiveness and easy accessibility. The hospitals are able to cut the cost by lowering the film price, reducing the requirement of storage space, and decreasing the number of people required to run the services and archive sections. The images are also instantly available for distribution to the clinical services without the time and physical effort needed to retrieve film packets, and reviewing previous imaging on a patient is much easier. This factor majorly impacts the positive growth of the digital X-ray devices market.
The "Global Digital X ray Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Digital X ray market with detailed market segmentation by type, system, application, technology, modality, end user and geography. The report provides key statistics on the market status of the leading Digital X ray market players and offers key trends and opportunities in the market.
- Based on type, the global Digital X ray market is segmented into Analog X-Ray and Digital X-Ray.
- Based on System, the market is categorised into Retrofit Digital X-Ray Systems and New Digital X-Ray Systems.
- Based on Application, the market is categorised into General Radiography, Mammography, Fluoroscopy and Dental Applications.
- Based on Technology, the market is categorised into Direct Radiography and Computed Radiography.
- Based on Modality, the market is categorised into Fixed Digital X-Ray Systems and Portable Digital X-Ray Systems.
- Based on End User, the market is categorised into Hospitals,, Diagnostic centers and Others.
- Technological developments in Digital X ray technologies.
- Surging burden of chronic diseases such as cancer, neurological diseases, dental problems, cardiac diseases, and musculoskeletal disorders.
- Increasing incidence of COVID-19, the need for effective diagnosis
- Presence of reimbursement for medical x-ray
- Risk of high radiation exposure
- High cost associated with installation
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Digital X ray market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Digital X ray market in these regions.
IMPACT OF COVID-19 ON DIGITAL X RAY MARKET
The problem of the global pandemic of COVID 19 has disrupted many businesses. Small businesses have shut down or have shown a downfall in their earnings. The COVID 19 is highly infectious and spread through human interaction. The COVID-19 pandemic has turned on the spotlight on diagnostic imaging, particularly on digital X-ray devices. Digital imaging plays a key role in the diagnosis of COVID-19 and indicates the affected lung tissue in infected patients. In Dec 2020 Agfa HealthCare launched its new SmartXR for X-ray Artificial Intelligence (AI) for Digital Radiography portfolio to provide assistance during the radiology routine, which has proven important during the COVID-19 crisis. Thus, in view of the ongoing pandemic, the digital X-rays devices market is expected to be positively impacted by COVID-19 accurate diagnosis and treatment.
The report covers key developments in the Digital X ray market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Digital X ray market are anticipated to lucrative growth opportunities in the future with the rising demand for Digital X ray in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Digital X ray market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Siemens Healthineers
- Koninklijke Philips
- GE Healthcare
- Carestream Health
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
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to segments covered.
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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to country scope.
1. Siemens Healthineers
2. Koninklijke Philips
3. GE Healthcare
6. Carestream Health
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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