World Digital Radiography Market to Reach US$742.8 Million by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Digital Radiography market. Tempered by the economic recession, world market for digital radiography is projected to reach US$742.8 million by the end of the forecast period. Growth in developing markets have had a relatively cushioned fall insulated by factors such as, rising awareness of the importance of quality healthcare, governmental support, greater emphasis on developing healthcare infrastructure and ability of the patient population to increasingly afford quality health services. High-end flat panel detector based digital radiography systems are hurting the most as these units are heavily demanded and utilized in the developed markets where the recession has been especially brutal.

Digital Radiography: A Global Strategic Business Report

High quality images, which can be electronically stored, archived, retrieved, and transmitted, calls for a new technology, and digital radiography is the magic talisman for an all-digital radiology environment. Interestingly, modern diagnostic equipments and scanners are turning in huge volumes of data, and radiology departments are inundated with image data, so much so, that mere review of data requires a change in strategy. Radiology departments can no longer handle the data overload with traditional films. Going filmless is the only productive and sensible workflow optimization strategy available to radiology departments worldwide. And digital radiography is what will help the conventional radiology department get off the treadmill.

The prolonged world economic recession has taken its toll on the Digital Radiography market. Witnessing declines in procedural volumes, high-end technology intensive imaging, such as, MRI and CT have been battered. Expensive imaging equipments, although still offering a sturdy value proposition from a technology standpoint, have lost their popularity due to a host of macro economic reasons, such as, decline in reimbursements of medical imaging, cutbacks in healthcare expenditure, budgetary constrains and postponement of equipment replacement decisions. Freezing of capital investments is largely responsible for postponements and cancellations of digital radiography (DR) implementations. Reductions in federal funding coupled with declines in philanthropic donations, have put hospitals under severe financial pressures thus blocking investments in medical equipments.

As stated by the new market research report on world digital radiography market, United States represents the world’s largest digital radiography market, distantly followed by Japan. Sale of DR units in the United States is projected to reach 1,126 units by the year 2012. While budgetary crackdowns and unfavorable healthcare regulations sharpen the blow on developed markets like North America and Europe, developing markets in Asia-Pacific in contrast exhibits greater resilience to the economic turmoil. China especially emerges tall over the horizon with strong growth forecasted in the field of radiography. Although hurting as a result of the tough economic climate, DR systems are comparatively better insulated than most other medical equipment, given the pivotal role played by radiography in the field of medical imaging. Even though the growth variables remain temporarily suspended, a quick resurgence is forecasted in the post recession period with recovery in equipment utilization rates, rebound of replacement demand and favorable healthcare reforms that push patient throughput volumes.

Digital Radiography will continue to benefit from the aging world population, which requires twice as much radiographic examination when compared to the yesteryears. Technology innovations that help improve workflow, ergonomics and user-interface will also play its role in supporting the market’s growth. Strategies revolving around product life cycle management, and provision of easy financing options will remain critical for equipment vendors to ensure sustainability under the currently stressed business environment. The recession has helped magnify the trend of performing DR retrofits to existing analog X-Ray systems and older CR (computed radiography) rooms thus resulting in several conventional CR vendors adding thin-film transistor (TFT) flat panel based DR products to their portfolios.

Major players in the global marketplace include Canon U.S.A. Inc., Carestream Health, GE Healthcare Limited, Hologic Inc, Imaging Dynamics Company Ltd., Imix Adr Finland OY, Infimed Inc, Philips Medical Systems, Siemens Healthcare, Suni Medical Imaging Inc., Swissray International Inc, Shimadzu Corporation, Trixell S.A.S, Varian Medical Systems Inc., among others.

The research report titled “Digital Radiography: A Global Strategic Business Report”, announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, issues, profiles of major players, product developments and other strategic industry activities. The report provides market estimates and projections in Value (US$) and Volume (Units) for major geographic markets such as United States, Japan, Europe (France, Germany, Italy, UK, Spain, and Rest of Europe) Asia-Pacific, and Rest of World.

For more details about this comprehensive market 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 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press(at)StrategyR(dot)com
Web Site http://www.StrategyR.com/

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