According to FutureWise analysis the market for digital x ray devices in 2023 is US$ 3.72 billion, and is expected to reach US$ 4.79 billion by 2031 at a CAGR of 3.2%.
The market is driven by many factors and can range from the product developments and technological innovations, the numerous benefits associated with the digital X-ray devices systems, relaxed government rules and regulations, a rise in disease pools as well as the ever-increasing geriatric population. Based on the segmentation, the market includes fluoroscopy, dental applications general radiography and mammography. According to the estimations, the year 2020 is when the general radiography is predicted to rise to the rank of the largest global digital X-ray devices market share. Due to the rise of ailments such as osteoporosis, tuberculosis, growing ageing population and CVD, there are product launches being made in the traditional applications of radiography which are expected to see much global digital X-ray devices market growth.
The digital X-ray devices market has been divided into two areas of technology, the computed radiography and direct radiography. In the case of direct radiography segmentation, it has been forecasted to arrive at the highest CAGR and it should be noted that there are a range of advantages in the case of direct radiography segments. Among these advantages lie in the fact that there is improved medical assessment, improved contrast detectability, productive dynamic range, reduced exposure of radiation for workers and patients, more accurate and better image capture, improved throughput of patients, image management flexibility, lower operational costs and well-structured evaluation of data and images are all factors which are improving the scope for segment growth in the digital X-ray market.
As per an article published by the MIT Technology Review, an advanced open access neural network, COVID-Net, which was announced in March 2020, can help doctors and researchers to identify COVID-19 patients. COVID-Net is an AI which is effective in identifying images and it was trained to diagnose COVID-19 signs through chest X-rays by creating an image dataset taken from patients with varying lung conditions. But COVID-Net is not yet a solution that is ready for production, but the prospects of this neural network are quite high.
Based on the end user, the market has been categorized into two segments, mainly that of the diagnostic hospitals and centres. The hospital segment has anticipated registering a high CAGR over the forecast time frame. The rise in private and government investments along with an increasing integration in digital X-ray devices in the hospital settings are some of the key aspects of the segment growth.
According to the interview given by the vice president of the Spanish Society of Radiology to the healthcare-in-Europe, the demand for chest radiographs has augmented exponentially with the rise in the number of COVID-19 patients. The chest X-rays are primarily performed on confirmed or highly suspicious patients with the help of specific circuits. Furthermore, the portable radiology equipment are gaining significant demand for determining whether the patient is diagnosed with COVID-19. The vice president further mentioned that they receive over 400 patients daily and there is a protocol set for a patient to be provided with a chest X-ray.