Digital X-ray Market

Siemens Healthineers (Germany) and GE Healthcare (US) are leading players in Digital X-ray Market

The global digital X-ray market is expected to reach USD 16.4 billion by 2026 from an estimated USD 11.1 billion in 2021, at a CAGR of 8.1% from 2021 to 2026.

Digital X-ray or digital radiography (DR) is a modern method of obtaining X-ray images using digital electronic sensors and a digital capturing device in place of traditional photographic film. The major factors driving the growth of this market include the increasing geriatric population and growth in disease incidence as well as favorable government regulations, investments, and initiatives. The advantages of digital X-ray systems have played a key part in their adoption; their speed and accuracy, as well as quick processing times, allow for significantly higher patient screening volumes than earlier. This has pushed companies to focus on product development and innovation. However, these systems are priced at a premium, which slows their greater adoption.

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The competitive landscape includes the analysis of the key growth strategies adopted by major players between 2018–2020 to expand their global presence and increase their market shares in the digital X-ray market. The key growth strategies adopted by the top players in the market include product launches and approvals, agreements, expansions, and acquisitions. Product approvals and launches were the most widely adopted growth strategies by market players in the last three years to garner a larger share of the market. The digital X-ray market is dominated by Siemens Healthineers (Germany), GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), FUJIFILM Holdings Corporation (Japan), and Canon, Inc. (Japan).

Siemens Healthineers holds a leading position in the global digital X-ray market. The company offers a wide range of digital X-ray systems, mobile X-ray systems, fluoroscopy systems, mammography systems, mobile C-arms, and robotic X-ray systems. It focuses on inorganic and organic growth strategies, including new product launches, partnerships, and agreements, to enhance and maintain its position in the market. The company has launched various products in the digital X-ray market in the last three years and is constantly engaged in R&D for product innovation. This is highlighted by the fact that the company spends more than 9% of its revenue on R&D activities. The company has a wide geographic presence in Europe, Africa, the Middle East, Asia, Australia, and the US, and is constantly engaged in strategic deals and partnerships to promote growth in the market.

GE Healthcare’s leading position in the digital X-ray market can be attributed to its robust product portfolio. GE Healthcare offers a wide range of products for fluoroscopy, radiography, and mammography, as well as mobile X-ray systems. GE Healthcare is an innovation-centric company that launches advanced products to meet consumer requirements. To strengthen its position in the digital X-ray market, the company also focuses on adopting inorganic strategies such as agreements, partnerships, and collaborations. For instance, in December 2019, the company signed an agreement with Affidea Group BV (Netherlands) to install 200+ new equipment in Affidea’s network of centers across Europe. The deal included a three-year supply agreement of 60 MRIs, 50 ultrasound devices, 40 CT scanners, and 30 X-ray machines, as well as a six-year service contract. The company primarily operates in the US, Europe, the Pacific Basin, the Americas, the Middle East, and Africa. It also has a strong sales and distribution network that allows GE to market its products across the globe.

Related Reports:

Digital X-ray Market by Portability (Fixed, Portable), Applications (General, Dental, Mammography, Cancer, Fluoroscopy), Technology (Direct, Computed), System (Retrofit, New), End Users, Price Range, Type, and Region - Global Forecast to 2026

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Report Code
MD 2562
RI Published ON
10/11/2021
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