Newark, New Castle, USA, June 30, 2023 (GLOBE NEWSWIRE) -- Based on the recent study by Growth Plus Reports, the Global Computed Radiography Market was valued at US$ 4.40 billion in 2022 and is expected to register a revenue CAGR of 4.9% to reach US$ 6.45 billion by 2031 during the forecast period from 2023 to 2031. The research describes the successful strategies, market trends, key drivers, growth opportunities, competitive landscape, market size, statistic figures, revenue forecasts, and key investment areas.
Key Takeaways:
- The increasing prevalence of orthopedic disorders and chronic diseases is raising the demand for computed radiography.
- The rising demand for high-resolution imaging systems is accelerating the market revenue growth.
- Increasing R&D activities and technological advancements to create a strong product pipeline.
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Computed Radiography Market Scope
| Report Attribute | Details |
| Market size value in 2022 | US$ 4.40 billion |
| Revenue forecast in 2031 | US$ 6.45 billion |
| Growth Rate | CAGR of 4.9% from 2023 to 2031 |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023-2031 |
| Historical Year | 2021 |
| Segments Covered | Application, End User, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Market Drivers:
The development of portable and wireless devices, and improvements in computed radiography hardware and software promotes global market revenue growth. Additionally, the growing emphasis on lowering radiation exposures for patients during medical imaging procedures, the need for quicker and more accurate diagnosis, and the rising demand for digital radiography technologies, particularly in the healthcare market. However, the significant investments in the installation and maintenance of computed radiography systems and exposure to harmful ionizing radiation restrict the revenue growth of the computed radiography market.
Market Segmentation:
Growth plus reports have analyzed the global computed radiography market from perspectives such as application, end user, and region.
Application Segmentation:
Based on the application, the global computed radiography market is segmented into orthopedic, cancer, dental, cardiovascular, and other applications.
The orthopedic segment accounts for a significant revenue share of the global computed radiography market. This rise in revenue share is attributed to orthopedic conditions such as fractures, osteoporosis, and arthritis being the most common medical conditions, particularly among the elderly population resulting in the high demand for orthopedic imaging techniques.
The cancer segment is expected to experience a lucrative growth rate in terms of revenue share during the forecast period. The growing prevalence of cancer is leading to an increase in the demand for diagnostic tools such as computed radiography, which can help detect cancer at an early stage.
End-User Segmentation:
Based on end-user, the global computed radiography market is segmented into hospitals and diagnostic centers.
The hospital segment dominates the global computed radiography market with the largest revenue share because hospitals are being the primary healthcare facilities that use radiography for diagnostic and therapeutic purposes. Hospitals frequently employ computed radiography systems for various procedures, including mammography, dentistry, chest, and bone radiography, raising the revenue share of this market. In addition, hospitals see a bigger volume of patients, which raises the need for radiography services and improvised imaging quality and resolution for detecting and treating diseases.
Regional Growth Dynamics:
Based on region, the global computed radiography market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the largest revenue share in the global market. This large revenue share is attributed to the rising prevalence of chronic and orthopedic disorders in North America. Additionally, the presence of well-developed healthcare infrastructure and major players in the region are also expected to drive regional revenue growth.
Competitive Landscape:
The prominent players operating in the global computed radiography market are:
- Siemens Healthcare
- Konica Minolta, Inc.
- Jones X-Ray, Inc.
- GE Healthcare
- Agfa-Gevaert Group
- Koninklijke Philips N.V.
- FUJIFILM Corporation
- Imaging Dynamics Company Ltd.
- Detection Technology Plc.
- Desert Health Imaging Technologies.
- Strategic Developments
The market views acquisition, partnership, and collaboration activities as inorganic development strategies. These activities have expanded commercial opportunities for the future, and the global market for computed radiography has increased in demand.
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Recent Developments:
- In January 2023, DeepTek launched DeepSpine, at the Radiological Society of North America (RSNA). It is designed to analyze MRI lumbar spine images using AI lumbar spine quantification and metrics tools.
- In December 2022, the CXDI-Elite series of wireless digital radiography (DR2) devices was launched by Canon Inc., which includes the CXDI-720C Wireless sensor unit outside Japan.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Reimbursement
- Regulatory Scenario
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL COMPUTED RADIOGRAPHY MARKET - ANALYSIS & FORECAST, BY APPLICATION
- Orthopedic
- Cancer
- Dental
- Cardiovascular
- Other Applications
- GLOBAL COMPUTED RADIOGRAPHY MARKET - ANALYSIS & FORECAST, BY END USER
- Hospitals
- Diagnostic Centers
- Other End Users
COMPUTED RADIOGRAPHY MARKET TOC
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- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.
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