Digital Radiology Market is Expected to Reach USD 13.3 Billion Globally in 2018: Transparency Market Research
ALBANY, New York, August 29, 2012 /PRNewswire/ --
According to a new market report published by Transparency Market Research (http://www.transparencymarketresearch.com) "Digital Radiology Market - Global Industry Size, Market Share, Trends, Analysis and Forecast, 2012 - 2018," the global radiology systems market is estimated at USD 9.7 billion in 2012 and expected to reach USD 13.3 billion by 2018 at a CAGR of 5.4% from 2012 to 2018. Globally, the North America region is expected to maintain its lead position in terms of revenue till 2018. North America holds about 41.9% of the global digital radiology market revenue share in 2012 followed by Europe. In terms of volume, the global digital radiology market is expected to reach 158.2 thousand units by 2018.
Browse the full report at http://www.transparencymarketresearch.com/globa-digital-radiology-market.html
Radiology departments across the globe face issues of storing, archiving and retrieving large volume of images and data with traditional films. Moreover, with increasing adoption of telemedicine and medical telemetry, faster and secure transmission of such data is crucial. In addition, modern diagnostic equipments and scanners are producing very large volume of data, which requires better data management systems. This initiated the gradual shift of radiology departments across the globe from film-based to digital radiology systems. Eventually digital radiology became an integral component of workflow optimization strategy of radiology departments.
The several benefits that are compelling the improved adoption of digital radiology worldwide are - superior and accurate image capture, reduced radiation exposure for patients and workers, flexibility in image management, improved patient throughputs, and superior evaluation of data and images. Increasing research and development activities in the field have given rise to newer, more compact and powerful equipments, which have provided additional growth to the industry. Strong market competition is resulting in annual 4-7% price erosion. This has made the devices become affordable and enhanced the market penetration. Increased application areas such as minimally invasive procedures, pain management, orthopedics, neurovascular and others have increased the market adoption.
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Initial installation cost and cost outlay is very high for digital radiography setups. The average cost of devices is above USD 50,000 which is limiting its adoption by small clinics and outpatient diagnostic centers. Serious concerns have been raised by healthcare professionals due to the radiation exposure caused to patients during radiological examination. Future, the market is expected to be inclined towards a safer device which can produce enhanced image quality with minimum use of radiation. Quality of image is determined by the number of pixels - higher the pixels, higher will be the quality. But high numbers of pixels also causes high noise which is a technological restraint.
The digital radiology devices market is extremely competitive with a close gap between Siemens Healthcare, GE Healthcare, Philips Healthcare, Canon Medical, Konica Minolta and Fujifilm. Siemens Healthcare is the market leader with about 12.9% revenue share in 2012.
This report is an effort to identify factors, which will be the driving force behind the digital radiology market and sub-markets in the next few years. The report provides extensive analysis of the digital radiology industry, current market trends, industry drivers and challenges for better understanding of the digital radiology market status. The report has segregated the digital radiology industry in terms of product, and geography. The study presents a comprehensive assessment of the stakeholder strategies and winning imperatives for them by segmenting the global digital radiology market as below:
Digital Radiology Category
Digital Detectors Devices
Portable Radiography System
Mobile C-Arm
In addition the report provides a cross-sectional analysis of all the above segments with respect to the following geographical markets:
North America
- U.S.
- Canada
- Mexico
Europe
- U.K.
- France
- Germany
- Italy
- Spain
Asia Pacific
- Japan
- China
-
Latin America
- Brazil
Middle East and Africa
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