Digital X-ray Market

Partnerships, agreements, contracts, and collaborations accounted for the largest share of the overall growth strategy mapped from 2015–2018 in Digital X-ray Market

The digital X-ray market is expected to reach USD 13.04 billion by 2023 from USD 8.68 billion in 2018, at a CAGR of 8.5%. The increasing geriatric population and the subsequent growth in global disease incidence, favorable regulations and government initiatives & investments, the advantages of digital X-ray systems, and technological advancements and product development are the factors driving the growth of the market. The development of AI-based digital X-ray systems and emerging markets are areas of opportunity in the digital X-ray market.

Partnerships, agreements, contracts, and collaborations accounted for the largest share of the overall growth strategy mapped from 2015–2018. Some of the leading players who adopted this strategy are Siemens Healthineers (Germany), Carestream Health (US), and Koninklijke Philips (Netherlands).

The digital X-ray market is highly competitive, with several big and small players competing for market shares. Prominent players in this market include Siemens Healthineers (Germany), Koninklijke Philips (Netherlands), GE Healthcare (US), Canon Inc. (Japan), and Carestream Health (US), Fujifilm Corporation (Japan), Hitachi (Japan), Hologic (US), Shimadzu Corporation (Japan), Konica Minolta (Japan), Samsung Medison (Korea), and Agfa-Gevaert (Belgium).

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In 2017, Siemens Healthineers (Germany) dominated the digital X-ray market. The company offers a wide range of digital X-ray systems such as Ysio, Multix Fusion, Multix Select DR, Luminos Agile, and MOBILETT XP. It focuses on inorganic and organic growth strategies including product launches, partnerships, and agreements to enhance and maintain its position in the market. For instance, the company formed a partnership with ScreenPoint Medical to develop AI-based applications for breast imaging. The company also focuses on developing new and innovative products to expand its portfolio and address the unmet needs of healthcare providers. The company has a wide geographic presence in Europe, Africa, the Middle East, Asia, Australia, and the US.

Koninklijke Philips (Netherlands) was the second-largest player in the global digital X-ray market in 2017. To maintain its leading position in the digital X-ray market, the company focuses on research and development activities. The company invested USD 1.56 billion, USD 1.52 billion, and USD 1.41 billion in R&D activities in 2017, 2016, and 2015, respectively. Its focus on R&D helps Philips to launch innovative products in the market such as the DigitalDiagnost C50. Philips also adopts inorganic growth strategies such as partnerships, collaborations, and acquisitions to enhance its market presence. In November 2017, Philips Healthcare signed a collaboration agreement with Nuance Communications, Inc. to deliver AI-based image interpretation and reporting capabilities to radiologists.

Related Reports:

Digital X-ray Market by Application (Radiography, Orthopedic, Cardiovascular, Fluoroscopy, Chest), Technology (Direct, Computed Radiography), Portability (Handheld, Mobile), System (Retrofit, New), End User (Diagnostic Center, Hospital), Price - Global Forecast to 2023

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Report Code
MD 2562
RI Published ON
7/1/2014
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