Global Digital Radiology Market: Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 - 2018
Albany, New York (PRWEB) September 19, 2013 -- According to a new market report published by Transparency Market Research “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 with TOC 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.
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.
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This research is specially designed to estimate and analyze the demand and performance of digital radiology products in the global scenario. The research provides an in-depth analysis of digital radiology product manufacturers, product sales, trend analysis by segments, and demand by geography. The report covers all the major product segments of the global digital radiology market and provides in-depth analysis, historical data and statistically refined forecast for the segments covered.The report used a combination of primary and secondary research to arrive at the market estimates, market shares and trends.
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 a better understanding of the digital radiology market status. The report has segregated the digital radiology industry in terms of product, and geography.
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Sheela AK, Transparency Market Research, http://www.transparencymarketresearch.com, +1 518-618-1030, [email protected]
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