Digital Radiography System Market: Current Analysis and Forecast 2019-2025

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Emphasis on Technology (Computed Radiography and Direct Digital Radiographic), Equipment (Sensors, Scintillator and Phosphor Imaging Plate), Portability (Fixed and Portable System), Application (Orthopedics, Dental Imaging, Mammography, Cardiology, Chest Imaging, Fluoroscopy, Oncology, Others), End-Users (Hospitals, Diagnostics Centres and Others) and Country

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143

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38

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110

Report ID:

UMAI19142

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Report Description
Table of content
Research Methodology

Report Description

Digital Radiography Systems was valued at US$ 2,165.0 million in 2017 and is anticipated to reach US$ 3,504.2 million by 2025 displaying reasonable CAGR of 6.36% over the forecast period (2019-2025). Radiography is deployed for the interpretation of anatomical and morphological structures such as teeth and jaw, skeleton, musculoskeletal among others that are present inside the body. Radiographs can be produced by using traditional method such as film or film can be replaced by scanners and sensors.  With the advent of new technology radiography industry is currently in transition stage from film-based radiography to digital radiography. Owing to the factors such as high prevalence of cardiovascular, respiratory and other diseases. Growing awareness and increasing health consciousness will further boom the industry. However, high cost of radiography systems and expensive installation of this technology will act as a restraint for the adoption of this technology. Moreover, emergence of artificial intelligence will act as the opportunity for further evolution of this industry.

Developments in Digital Radiography

Portable digital radiography system is anticipated escalate the market growth due to the mobility and compactness of the device. Taking into consideration, digital radiography market is gaining momentum in healthcare industry since past few years. It has a huge application in healthcare industry encompassing orthopedics, dentistry, mammography and fluoroscopy among others. Europe is adopting this technology at a steady pace.

“Computed Radiography expected to dominate during the analyzed period.”

Digital radiography systems market is segmented based on technology such as computed radiography and direct digital radiography. The Computed Radiography occupied the largest share and is expected to maintain its dominance throughout the forecast period 2019-2025. However, direct digital radiography is expected to witness highest CAGR growth during the analyzed period due the low radiation dose with the advent of PACS.

“Scintillator held the largest market share in 2018 and are expected to dominate the market in 2025.”

The study further bifurcates the digital radiography systems market into different equipment including, sensor, scintillator and Phosphor imaging Plate (PIP) wherein Scintillators held the largest market share in 2018 and is expected to dominate the market by 2025. Howeversensor is expected to register highest growth during the forecast period as they are compact and wireless

“Amongst portability, Fixed systems are projected to hold the largest market share and will dominate the Europe Digital Radiography System market by 2025.”

Based on portability the market is bifurcated into Fixed Systems and Portable Systems. Market of Portable system is expected to grow tremendously, due to the surging demand over the years however, fixed systems are projected to dominate the market in 2025.

“Amongst end-users, hospitals are anticipated to dominate Europe Digital Radiography System market by 2025.”

Diagnostic laboratories, hospitals and other institutions such as research institutes and clinics are the major end-users of this technology. Hospitals are anticipated to dominate this segment in 2025. Owing to the rise in the incidence of major chronic diseases.

“Amongst application, cardiology holds the major share in Europe Digital Radiography System market.”

Radiography holds a wide range of application such as orthopedics, dentistry, mammography, cardiology, oncology, chest imaging and fluoroscopy. Rising incidence of Cardiovascular disease will escalate the market growth and will hold the highest market share in this segment.

European Digital Radiography Systems Market by Application, 2018-2025 (US$ million)

“Germany represents as one of the largest markets of digital radiography systems in Europe.”

For a deep dive analysis of the industry, the study also includes Europe country-level analysis including major markets of digital radiography systems in the European region including Spain, Germany, France, United Kingdom (UK), Netherlands, Italy and Rest of Europe. Germany is considered as the largest market of this technology. High population presence and rising old age population is driving the market growth of this country.

Competitive Landscape-Top 10 Market Players

GE Healthcare, Siemens Healthineers, Philips Healthcare, Shimadzu Corporation, Fujifilm Holdings, Hitachi Medical Corporation, Esaote S.p.A., Carestream Health and Agfa-Gevaert NV are some of the prominent players operating in the Europe digital radiography industry. Germany has captured the major share in Europe digital radiography systems market due to the presence of major players in this country. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.

Reasons to buy (The research report presents):

  • Current and future market size from 2018 to 2025 in terms of value (US$)
  • Combined analysis of deep dive secondary research and input from primary research through Key Opinion Leader of the industry
  • Country level details of the prevalence of different kinds of diseases
  • A quick review of overall industry performance at a glance
  • An In-depth analysis of prominent industry players
  • A detailed analysis of regulatory framework, drivers, restraints, key trends and opportunities prevailing in the industry
  • Examination of industry attractiveness with the help of Porter’s Five Forces analysis
  • The study comprehensively covers the market across different segments and sub-segments of the technology in Europe
  • Countries covered: Spain, Germany, France, United Kingdom (UK), Netherlands, Italy and others

Customization Options:

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  1.1Market Definition
  1.2Objective of the Study
  1.3Limitation  
  1.4Stakeholders 
  1.5Currency used in the Report
  1.6Scope of Europe Digital Radiography System Market Study

 

  2.1Research Methodology adopted for European Digital Radiography System Market study
   2.1.1Main objective of the European Digital Radiography Systems Market Study

 

  3.1General Overview
   3.1.1European Regulations and Reimbursement Policies for Digital Radiography

 

  6.1Introduction 
  6.2Market Dynamics
   6.2.1Market Drivers
    6.2.1.1Radiation Exposure Reduction
    6.2.1.2Increasing Older Population and Problems Associated
    6.2.1.3Rising Burden of Chronic Diseases
    6.2.1.4Expanding Market of Minimally Invasive Surgeries
   6.2.2Market Restraints
    6.2.2.1High Cost of Equipment
   6.2.3Trends in Dental Imaging Technology
    6.2.3.1Artificial Intelligence (AI) in Radiology

 

  7.1General Overview
   7.1.1Demand and Supply Side Analysis
    7.1.1.1Top Winning Strategies
     7.1.1.1.1Top Product launches
     7.1.1.1.2Top Business Expansions
     7.1.1.1.3Top Investments
     7.1.1.1.4Top Acquisition and Collaborations
   7.1.2Value Chain Analysis of European Digital Radiography Market

 

  8.1General Overview
   8.1.1Computed Radiography
   8.1.2Direct Digital Radiographic

 

  9.1General Overview
   9.1.1Sensors 
   9.1.2Scintillator
   9.1.3Phosphor Imaging Plate (PIP)

 

  10General Overview
   10.1.1Fixed Systems
   10.1.2Portable Systems

 

  11General Overview
   11.1.1Orthopedics
   11.1.2Dental Imaging
   11.1.3Mammography
   11.1.4Cardiology
   11.1.5Chest Imaging
   11.1.6Fluoroscopy
   11.1.7Oncology 
   11.1.8Others

 

  12General Overview
   12.1.1Hospitals 
   12.1.2Diagnostics Centres
   12.1.3Other End-Users

 

  13General Overview
  13Germany Digital Radiography Systems Market (2018-2025)
   13.2.1Germany Digital Radiography Systems Market, by Technology
   13.2.2Germany Digital Radiography Systems Market, by Equipment
   13.2.3Germany Digital Radiography Systems Market, by Portability
   13.2.4Germany Digital Radiography Systems Market, by Application
   13.2.5Germany Digital Radiography Systems Market, by End-Users
  13France Digital Radiography Systems Market (2018-2025)
   13.3.1France Digital Radiography Systems Market, by Technology
   13.3.2France Digital Radiography Systems Market, by Equipment
   13.3.3France Digital Radiography Systems Market, by Portability
   13.3.4France Digital Radiography Systems Market, by Application
   13.3.5France Digital Radiography Systems Market, by End-Users
  13United Kingdom Digital Radiography Systems Market (2018-2025)
   13.4.1UK Digital Radiography Systems Market, by Technology
   13.4.2UK Digital Radiography Systems Market, by Equipment
   13.4.3UK Digital Radiography Systems Market, by Portability
   13.4.4UK Digital Radiography Systems Market, by Application
   13.4.5UK Digital Radiography Systems Market, by End-Users
  14Spain Digital Radiography Systems Market (2018-2025)
   13.5.1Spain Digital Radiography Systems Market, by Technology
   13.5.2Spain Digital Radiography Systems Market, by Equipment
   13.5.3Spain Digital Radiography Systems Market, by Portability
   13.5.4Spain Digital Radiography Systems Market, by Application
   13.5.5Spain Digital Radiography Systems Market, by End-Users
  14Netherlands Digital Radiography Systems Market (2018-2025)
   13.6.1Netherlands Digital Radiography Systems Market, by Technology
   13.6.2Netherlands Digital Radiography Systems Market, by Equipment
   13.6.3Netherlands Digital Radiography Systems Market, by Portability
   13.6.4Netherlands Digital Radiography Systems Market, by Application
   13.6.5Netherlands Digital Radiography Systems Market, by End-Users
  14Italy Digital Radiography Systems Market (2018-2025)
   13.7.1Italy Digital Radiography Systems Market, by Technology
   13.7.2Italy Digital Radiography Systems Market, by Equipment
   13.7.3Italy Digital Radiography Systems Market, by Portability
   13.7.4Italy Digital Radiography Systems Market, by Application
   13.7.5Italy Digital Radiography Systems Market, by End-Users
  14Rest of Europe Digital Radiography Systems Market (2018-2025)
   13.8.1Rest of Euro Digital Radiography Systems Market, by Technology
   13.8.2Rest of Euro Digital Radiography Systems Market, by Equipment
   13.8.3Rest of Euro Digital Radiography Systems Market, by Portability
   13.8.4Rest of Euro Digital Radiography Systems Market, by Application
   13.8.5Rest of Euro Digital Radiography Systems Market, by End-Users

 

  14Porter’s Five forces analysis
   14.1.1Bargaining power of Buyer
   14.1.2Bargaining power of Supplier
   14.1.3Threat of new entrants
   14.1.4Availability of Substitute
   14.1.5Industry Rivalry
  14Top Players in the Global (Europe) digital radiography systems market, 2017
   15.3.1Key Facts 
   15.3.2Business Description
   15.3.3Key Product/Services Offerings
   15.3.4General Electric Growth Strategy
   15.3.5SWOT Analysis
   15.3.6Key Financials (2014-2018)
    15.3.6.1Revenue Split, by Region and Segment
   15.3.7Recent Developments
  15Koninklijke Philips N.V.
   15.4.1Key Facts 
   15.4.2Business Description
   15.4.3Key Product/Services Offerings
   15.4.4SWOT Analysis
   15.4.5Key Financials (2013-2018)
    15.4.5.1Revenue Split, by Region and Segment
   15.4.6Recent Developments
   15.4.7Funding 
  16Siemens Healthineers AG.
   15.5.1Key Facts 
   15.5.2Business Description
   15.5.3Key Product/Services Offerings
   15.5.4SWOT Analysis
   15.5.5Key Financials (2015-2018)
    15.5.5.1Revenue Split, by Region and Segment
   15.5.6Recent Developments
  16Agfa-Gevaert NV
   15.6.1Key Facts 
   15.6.2Business Description
   15.6.3Key Product/Services Offerings
   15.6.4SWOT Analysis
   15.6.5Key Financials (2013-2018)
    15.6.5.1Revenue Split, by Region and Segment
   15.6.6Recent Developments
  16Esaote S.p.A. 
   15.7.1Key Facts 
   15.7.2Business Description
   15.7.3Key Product/Services Offerings
   15.7.4SWOT Analysis
   15.7.5Recent Developments
  16Hitachi Healthcare Manufacturing, Ltd.
   15.8.1Key Facts 
   15.8.2Business Description
   15.8.3Key Product/Services Offerings
   15.8.4SWOT Analysis
   15.8.5Recent Developments
  16Shimadzu Corporation
   15.9.1Key Facts 
   15.9.2Business Description
   15.9.3Key Product/Services Offerings
   15.9.4SWOT Analysis
   15.9.5Key Financials
    15.9.5.1Revenue Split, by Region and Segment
   15.9.6Recent Developments
  15.10Carestream Health, Inc.
   15.10.1Key Facts 
   15.10.2Business Description
   15.10.3Key Product/Services Offerings
   15.10.4SWOT Analysis
   15.10.5Recent Developments
   15.10.6Funding

Research Methodology

Analysing historical market, estimation of the current market and forecasting the future market for European digital radiography system were the three major steps undertaken to create and analyse the overall adoption of digital radiography system in major European countries. Exhaustive secondary research was done to collect the historical market of the technology and overall estimation of the current market. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across value chain of the digital radiography systems. After all the assumption, market sizing and validation of market numbers through primary interviews, top-down approach was employed to forecast the complete market size of digital radiography system market in Europe. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyse the future market size of segments and sub-segments of the technology. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the European Digital Radiography System Market through company internal sources such as annual report & financial statements of top players, performance presentations, press releases, inventory records etc. and external sources including trade journals, news & articles, government publications, economic data, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other creditable publications. For economic data collection, sources such as World Bank, CDC, European Commission (EC), and WHO among others were used.

Step 2: Market Segmentation:

After obtaining historical market size of the overall market, detailed secondary analysis was done to gather historical market size and share for different segments & sub-segments for the European digital radiography system. Major segments included in the report are radiography technology, equipment, portability, application, and end-users. Further analysis was also done for sub-segments of the major segments of the digital radiography system market in Europe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, detailed factor analysis was conducted to estimate the current market size of the European digital radiography system. Factor analysis was conducted using dependent and independent variable such as like incidence and prevalence of chronic diseases in Europe, rise in geriatric population and consumer behavior while purchasing radiography systems etc. Historical trends of the European digital radiography system and their year-on-year impact on the market size and share in the recent past was analyzed. Demand and supply side scenario was also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in major applications and markets, market shares of these players, industry’s supply chain, and value chain of the industry. All the required percentage shares, splits, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including market dynamics such as drivers, restraints, and trends. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up/Top-down was applied to arrive at the market forecast pertaining to 2025 for different segment and sub-segments in different region/country. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value and rate of adoption of digital radiography systems in Europe
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in major applications and markets as well as market share of each players. Also, the growth strategies adopted by these players to compete in the ever-growing European digital radiography system market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head etc.). Primary research findings were summarized, and statistical analysis was performed to prove the stated hypothesis. Input from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants

Market Engineering

Data triangulation technique was employed to complete the overall market engineering process and to arrive precise statistical numbers of each segment and sub-segment pertaining to the European digital radiography system market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of radiography technology, computed and direct radiography, technology, applications and Hospitals, diagnostic centres and others as end-users

Main objective of the European Digital Radiography Systems Market Study

The current & future market trends of the European digital radiography system market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market, providing a platform for the industrial participant to exploit the untapped market to benefit as first mover advantage. Other quantitative goal of the studies includes:

  • Analyse the current and forecast market size of European digital radiography system in terms of value
  • Analyse the current and forecast market size of different segments and sub-segments of European digital radiography system. Segments in the study include technology, equipment, portability, end-users and application
  • Define and describe the technologies and protocols used in digital radiography system
  • Anticipate potential risk associated with the technology
  • Customer and competitor analysis, among others
  • Define and analysis of the government regulations for digital radiography system in Europe
  • Analyse the current and forecast market size of digital radiography system in Europe, in terms of value for countries including Spain, Germany, United Kingdom, Italy, France, Netherlands and Other Countries of Europe
  • Defile and analyse the competitive landscape of the European digital radiography system and the growth strategies adopted by the market players to sustain in the ever-growing market