Asia-Pacific Digital X-ray Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.61 Billion |
| Market Size (2029) | USD 3.92 Billion |
| CAGR (2024 - 2029) | 8.85 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Digital X-ray Devices Market Analysis
The Asia-Pacific Digital X-ray Devices Market size is estimated at USD 2.61 billion in 2024, and is expected to reach USD 3.92 billion by 2029, growing at a CAGR of 8.85% during the forecast period (2024-2029).
The market's growth is primarily driven by rising cases of orthopedic diseases and cancers, a surge in serious injuries, the superior benefits of digital X-ray systems compared to traditional ones, ongoing technological advancements, and robust product development initiatives.
The major advantages of digital imaging are affordable and easy accessibility. Hospitals can control their spending by lowering the cost of films, thereby requiring less storage space and employing less staff to manage the services and archives. For instance, as per a December 2022 article in the Research (Wash D.C.) Journal, the development of computed radiography has sparked a technological advancement for digital X-ray imaging with more accurate and immediate information. Compared to traditional X-rays, digital X-rays expose patients to about 70% to 80% less radiation. Digital X-rays are expected to drive the market's growth during the forecast period due to their numerous advantages, which may significantly improve the long-term health of patients, particularly pregnant women and those with existing medical conditions, consequently enhancing safety.
Due to the increase in the number of dental disorders, cardiac disorders, and cancers, especially breast cancer, there is an increased demand for digital ray devices globally. For instance, according to the June 2024 updates from the Australian Institutes of Health and Welfare report, in 2023, Australians lost an estimated 666,000 years of healthy life (DALY) due to all forms of cardiovascular disease (CVD), equivalent to 25.1 per 1,000 people. Thus, the high burden of cardiovascular diseases is expected to increase the demand for X-ray devices for effective diagnosis, thereby boosting market growth.
Key players are forming partnerships and collaborations and receiving increasing product approvals and technology advancements, all of which contribute to the growth of the market. For instance, in February 2023, Carestream Health India unveiled its latest innovation, the 'Carestream Motion Mobile X-ray system,' during the Indian Radiology and Imaging Association (IRIA) meeting in Amritsar. This cutting-edge system is tailored for a comprehensive range of general radiography examinations. Notably, its portability shines, allowing seamless navigation even in confined areas. Boasting an articulating arm and tube head, the system prioritizes visibility and user-friendliness. Such a launch of highly effective portable devices for imaging applications is anticipated to increase the demand for digital X-ray devices and drive market growth.
Thus, the aforementioned factors, such as the technological advancements in digital X-ray products and the high prevalence of cardiovascular diseases, are augmenting the growth of the digital X-ray devices market. However, the high installation and device costs, along with the rise in the use of refurbished devices, are expected to restrain market growth.
Asia-Pacific Digital X-ray Devices Market Trends
Portable Systems Segment is Expected to Hold a Significant Market Share During the Forecast Period
- Portable X-rays have been a valuable tool in monitoring and diagnosing patients in the healthcare setting, where the transfer of patients to the radiology department is challenging. The portable X-ray machine has the potential to overcome location barriers and benefit patients who are in life-threatening situations and require immediate treatment wherever they are, possibly needing an on-the-spot diagnosis.
- As per an article published in the National Library of Medicine in October 2022, one major benefit of utilizing a portable X-ray is its ability to avoid transport and extra movements of patients. Radiograph examinations done with the help of mobile imaging equipment offer less processing speed and eliminate long wait times. Portable X-ray machines usually take less than 20 minutes.
- Furthermore, portable X-ray devices offer socio-economic advantages as they reduce the use of ambulance and taxi transportation and personnel pull-out to accompany patients to and from the hospital. Mobile X-rays help reduce overall costs. Hence, the advantages associated with portable X-rays are expanding their demand.
- The new launches are further propelling the market’s growth. For instance, in July 2022, Shimadzu Corporation added a new MobileDaRt Evolution MX8 Version V type digital mobile X-ray system to the mobile X-ray system lineup for release outside Japan. The system incorporates digital radiography (DR), which is in demand outside Japan. With the advantages of portable systems and increasing product launches, the segment is expected to grow significantly during the forecast period.
- Hence, owing to the aforementioned factors, such as the advantages of portable X-ray devices and rising product launches, the segment is expected to witness rapid growth during the forecast period.
India is Expected to Hold a Significant Share in the Digital X-ray Devices Market During the Forecast Period
- India is expected to hold a significant share of the digital X-ray devices market mainly because of the rising geriatric population, the high burden of orthopedic and dental diseases, and the rising product launches.
- The geriatric population is prone to orthopedic, dental, and other diseases. Digital X-ray devices are highly beneficial for this population because of the difficulty of commute. For instance, according to the United Nations Population Fund dashboard statistics updated in 2022, an estimated 7% of India's total population was 65 years or older in 2022. Thus, a high geriatric population, which is prone to several respiratory diseases, is expected to contribute to market growth during the forecast period.
- Local market players are investing heavily in product development and launches to boost digital X-ray device manufacturing in India. For instance, in February 2022, Carestream Health India unveiled the DRX Compass, a digital radiology solution that is precise, user-friendly, and customizable. This innovative system is crafted to elevate radiologists' efficiency to unprecedented levels. What sets DRX Compass apart is its adaptability, allowing radiology facilities to tailor their setup by choosing from a diverse array of detectors, tubes, generators, tables, and collimators. This level of customization empowers facilities to harness the full potential of this cutting-edge technology.
- Therefore, the aforementioned factors, such as the rising geriatric population, increasing government initiatives to expand the manufacturing of medical devices, including digital X-ray devices, and product launches, are anticipated to propel the market’s growth in the country.
Asia-Pacific Digital X-ray Devices Industry Overview
The market is moderately consolidated in nature due to the presence of several market players. The major players have established themselves in specific segments of the market. Furthermore, the companies compete in emerging regions with global players and established local players. Key players are developing and launching novel products and technologies to compete with existing products, while others are acquiring and partnering with other companies trending in the market. The global players in the Asia-Pacific digital X-ray devices market are Canon Inc., Koninklijke Philips NV (Carestream Health Inc.), Fujifilm Holdings Corporation, GE Healthcare, Hologic Inc., Koninklijke Philips NV, Samsung Electronics (Samsung Medison Co. Ltd), Shimadzu Corporation, and Siemens AG.
Asia-Pacific Digital X-ray Devices Market Leaders
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Canon Inc.
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Fujifilm Holdings Corporation
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Siemens AG
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Koninklijke Philips N.V. (Carestream Health Inc.)
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Hologic, Inc.
*Disclaimer: Major Players sorted in no particular order
Asia-Pacific Digital X-ray Devices Market News
- February 2024: The Regional Institute of Medical Sciences (RIMS) in Imphal, India, installed the Multipurpose Digital Radiography Fluoroscopy System (DRF-800). This cutting-edge system is designed to perform radiography on the entire leg and spine, as well as generate three-dimensional X-rays for a range of body positions.
- September 2023: Siemens announced a EUR 2 billion investment strategy for new manufacturing capacity and labs to boost the Southeast Asian markets.
Asia-Pacific Digital X-Ray Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumption and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Burden of Diseases Requiring Diagnosis
4.2.2 Advantages over Conventional X-rays and Technological Advancements
4.3 Market Restraints
4.3.1 High Cost Associated with Device Installation
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Portability
5.1.1 Fixed Systems
5.1.2 Portable Systems
5.2 By Application
5.2.1 Orthopedic
5.2.2 Chest Imaging
5.2.3 Dental
5.2.4 Other Applications
5.3 By End User
5.3.1 Hospitals
5.3.2 Diagnostic Centers
5.3.3 Other End Users
5.4 By Geography
5.4.1 China
5.4.2 Japan
5.4.3 India
5.4.4 Australia
5.4.5 South Korea
5.4.6 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Canon Inc.
6.1.2 Koninklijke Philips NV (Carestream Health Inc.)
6.1.3 Fujifilm Holdings Corporation
6.1.4 GE Healthcare
6.1.5 Hologic, Inc.
6.1.6 Samsung Electronics (Samsung Medison Co. Ltd)
6.1.7 Shimadzu Corporation
6.1.8 Siemens AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Asia-Pacific Digital X-ray Devices Industry Segmentation
Digital X-ray or digital radiography is a form of X-ray imaging in which digital X-ray sensors are used instead of traditional photographic films. This has the added advantage of time efficiency and the ability to transfer images digitally and enhance them for better visibility.
Digital x-ray imaging has high demand, as it requires less radiation exposure than traditional X-rays. The digital x-ray devices market is segmented by portability, application, end user, and geography. By portability, the market is segmented into fixed systems and portable systems. By application, the market is segmented as orthopedic, chest imaging, dental, and other applications. By end user, the market is segmented as hospitals, diagnostic centers, and other end users. By geography, the market is segmented into China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific.
The report offers the value (USD) for the above segments.
| By Portability | |
| Fixed Systems | |
| Portable Systems |
| By Application | |
| Orthopedic | |
| Chest Imaging | |
| Dental | |
| Other Applications |
| By End User | |
| Hospitals | |
| Diagnostic Centers | |
| Other End Users |
| By Geography | |
| China | |
| Japan | |
| India | |
| Australia | |
| South Korea | |
| Rest of Asia-Pacific |
Asia-Pacific Digital X-Ray Devices Market Research FAQs
How big is the Asia-Pacific Digital X-ray Devices Market?
The Asia-Pacific Digital X-ray Devices Market size is expected to reach USD 2.61 billion in 2024 and grow at a CAGR of 8.85% to reach USD 3.92 billion by 2029.
What is the current Asia-Pacific Digital X-ray Devices Market size?
In 2024, the Asia-Pacific Digital X-ray Devices Market size is expected to reach USD 2.61 billion.
Who are the key players in Asia-Pacific Digital X-ray Devices Market?
Canon Inc., Fujifilm Holdings Corporation, Siemens AG, Koninklijke Philips N.V. (Carestream Health Inc.) and Hologic, Inc. are the major companies operating in the Asia-Pacific Digital X-ray Devices Market.
What years does this Asia-Pacific Digital X-ray Devices Market cover, and what was the market size in 2023?
In 2023, the Asia-Pacific Digital X-ray Devices Market size was estimated at USD 2.38 billion. The report covers the Asia-Pacific Digital X-ray Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Digital X-ray Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Digital X-Ray Devices Industry Report
Statistics for the 2024 Asia-Pacific Digital X-ray Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Digital X-ray Devices analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Asia-Pacific Digital X-ray Devices Market Report Snapshots
