Technavio’s latest report on the global digital X-ray systems market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Barath Palada, a lead analyst from Technavio specializing in research on medical imaging sector, says, “The global digital X-ray systems market is expected to grow at a CAGR of more than 13 percent during the forecast period. This is owing to various factors such as increasing incidence of diseases along with the advantages of digital X-ray systems. Digital X-ray systems offer benefits such as improved image quality, less processing speed, and reduced radiation dosage all of which help drive the growth of the market.”The top three emerging trends driving the global digital x-ray systems market according to Technavio healthcare and life sciences research analysts are:
- Reduction in reimbursements for film-based X-rays and CR
- New product launches coupled with technological advances
- Emergence of portable digital X-ray systems
The market has witnessed a reduction in reimbursements for film-based X-rays and computed radiography (CR), which will fuel the market for digital X-ray systems. This is a clear indication to incentivize the transition from traditional X-ray imaging to digital X-ray systems. With such acts in the market, the vendors are seeking to adopt digital X-ray systems to gain cost advantages. For instance, in May 2016, Agfa HealthCare launched a digital radiography (DR) upgrade program, which provides a quick transition from traditional film-based X-ray systems to digital X-ray systems. The company provides hospitals a step-by-step guidance to transition to the DR even in the absence of immediate capital.
New Product Launches Coupled with Technological Advances
The new products featuring advanced technologies will substantially drive the market. The advances in technology of radiographic systems used in routine examinations (chest, neck/spine, and limbs), specialty services (dental and mammography), and emergency services (ICU, neonatal ICU, and hospital wards) have resulted in the development of new radiation sources and technologies by using neutrons and X-rays.
The advance from analog to digital X-rays has led to the development of many applications and radiation-based imaging techniques. The introduction of flat panel CR in X-ray machines has increased their efficiency and imaging quality. Digital imaging has revolutionized the imaging industry by replacing conventional film-based radiography that uses X-rays/neutrons. Images can be stored in electronic format, which can then be enhanced to achieve optimum results. In addition, reducing the radiation dose and using high-sensitivity plates enhances the sharpness and resolution of the images.
The vendors in the market are launching new software that is compatible with the existing digital X-ray systems. In May 2016, Varian Medical Systems launched a new computer-aided engineering (CAE) software to simplify the process of shielding and radiological protection systems design. Such new product launches enable vendors to generate substantial revenue and thereby boost market growth.
Emergence of Portable Digital X-ray Systems
The market is witnessing a growing use of portable digital X-ray systems owing to its advantages such as low weight, easy mobility, and easy operability. The portable X-ray systems circumvent the need of a technician to develop the X-ray, or physically transport it from one location to another. “With the use of portable digital X-ray systems, images can be sent from anywhere in the hospital thus saving time and resources. Moreover, these systems also use lower radiation doses,” says Barath.
In addition, handheld systems are increasingly used in emerging applications such as veterinary, medical, military, customs screening, and security checks. Further, the portable digital X-ray systems have huge potential, as the current adoption rate is around 15 percent. This means that there is a potential pool of 85 percent of customers who may switch from portable analog X-ray systems to portable digital X-ray systems in the near future.
(Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. To request a sample report: http://www.technavio.com/request-a-sample?report=51867)
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
(Source: Business Wire)