Driven by the digitalization of radiology departments, the need for higher resolution diagnostic images, and the widespread proliferation of picture archiving and communication systems (PACS) in hospitals, the world market for digital radiography is projected to reach $844.2 million by the year 2010. The double-digit rise in the average number of radiology procedures performed by hospitals coupled with massive increases in volume of images-per-procedure, offer a lucrative business case for digital radiography (DR).
San Jose, California (PRWEB) April 28, 2008 -- The steady conversion of radiology departments from film-based radiography to digital radiography is spelling out attractive opportunities for digital radiography equipment installations. The aging world population induced parallel surge in the volume of image-based diagnostic procedures calls for quicker and faster imaging techniques, which offer compatibility with hospital networking systems. DR ranks as an integral component of every radiology department's workflow optimization strategy. Primary forces driving market acceptance and penetration of the DR technology include the compelling advantages offered in the form of a 50% to 85% reduction in patent exposure to radiation, increased patient throughputs, flexibility in image manipulation, and accurate and superior image capture, and better medical evaluations. Continuous technology developments, and refinements in digital imaging advantages offered, are resulting in the launch of newer, more compact and powerful equipment models. This is expected to kindle demand and encourage widespread adoption. A noteworthy trend, in product development, is the future proofing of DR equipments to allay fears of obsolesce, and allow for future upgrades, given the technology's high cost of capital investments.
With over 75% of all imaging being related to general radiography, DR is expected to stumble across numerous opportunities in the future. Decreasing cost of PACS and its widespread implementation are together making DR an attractive investment, since it makes more business sense for hospitals with PACS to migrate to a digital radiography environment. The dire need to rationalize costs in an increasingly expensive healthcare environment is leading hospitals to clinch cost-saving opportunities as and how they emerge in the form of technology innovation. This thereby, represents an important phenomenon lending traction to overall growth, given the attractiveness of the DR technology as a very desirable alternative to both film radiography and computed radiography.
As deployment of DR systems trickle down to smaller hospitals with 200 to 300 patient beds, as against the hitherto large hospitals, and healthcare institutions, the world digital radiography market is expected to grow at a CAGR of 6.88% over the years 2011 through 2015. In terms of unit sales, digital radiography systems in Europe are forecast to reach 393 units by the year 2012. As stated by the recent report published by Global Industry Analysts, Inc., United States, Japan, and Europe are the leading markets, cornering a combined share of over 82% of the dollar market value estimated in the year 2008. Eastern Europe offers strong growth potential with spurts of economic growth in these countries encouraging investments in DR systems as a replacement to obsolete medical imaging infrastructure.
Leading global and regional players operating in the industry include Canon U.S.A. Inc., Carestream Health, GE Healthcare Limited, Hologic Inc, Imaging Dynamics Company Ltd., Imix Adr, Infimed Inc, Nucletron BV, Philips Medical Systems, Siemens Medical Solutions, Suni Medical Imaging Inc., Swissray International Inc, Shimadzu Corporation, Trixell S.A.S, and Varian Medical Systems Inc.
The report titled "Digital Radiography: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of technology developments, market drivers, trends, issues, and challenges. Richly annotated with authoritative, and unbiased commentaries, and hard-to-find statistical facts, the report provides unequivocal views on future potential while throwing light on the prevailing climate in key regional markets. Latent demand patterns for Digital Radiography are quantified across major geographic market verticals including the United States, Japan, France, Germany, United Kingdom, Italy, and Asia-Pacific, among others. Also provided in the report is an enumeration of recent mergers, acquisitions, and other strategic industry activities.
For more details about this research report, please visit
http://www.strategyr.com/Digital_Radiography_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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