Global Radiography Market 2017-2021

Overview of the global radiography market

Technavio’s market research analyst predicts the global radiography market to grow steadily at a CAGR of around 2% by 2021. One of the primary drivers for this market is the rapid rate of upgradation of analog X-ray systems to digital X-ray systems. The radiography market is observing an increase in the number of users that want to migrate from the use of analog X-ray systems to digital X-ray systems. This is because of the flexibility of digital X-ray systems and an increasing number of applications. Digital X-ray systems offer faster scanning, increased throughput, multiple storage options, and better image quality. As a result, they eliminate the need for chemical processing of films. Moreover, these devices can provide the capability to generate 3D images. Also, it makes the end-user equipped with the capability to slice the images to analyze objects better. Furthermore, technological advances like telemedicine have enabled the integration of digital X-ray systems with satellite broadband to provide healthcare in remote areas will augment the growth of the global radiography market during the forecast period.

One of the latest trends gaining traction in this market is the rising demand for portable radiography equipment. There is an increased need for the development of miniaturized and portable testing equipment, such as the equipment used to test automotive components, because most of the inspection is carried out in different locations. These devices are highly suitable for oil rigs and are used for testing in locations with low accessibility. Portable, compact, and lightweight radiography equipment does not affect the testing process and ensures the smooth inspection of the entire rig. Moreover, portable radiography equipment is inexpensive compared with conventional equipment and offers better ROI. These advantages of the portable radiography equipment will propel the growth of the global radiography market in the coming years.

Competitive landscape and key vendors

The global radiography market is characterized by the presence of several local and international companies. To gain a competitive advantage and introduce interesting changes and innovative offerings vendors invest heavily in R&D. In an attempt to expand market reach and penetrate deeper into the market the key vendors in the digital x-ray market are growing inorganically through a number of mergers and acquisitions.

Leading vendors in the market are –

• Carestream Health
• Fujifilm Medical Systems
• 3DX-RAY
• ANRITSU INFIVIS

Other prominent vendors in the radiography market include GE, UMG/DEL MEDICAL, Konica Minolta, Philips, Siemens Healthcare, Toshiba Medical Systems, Varian Medical Systems, Bosello High Technology, YXLON International, DURR NDT, Mettler-Toledo International, Nikon, North Star Imaging, VJ Group, and Willick Engineering.

Segmentation by end-user and analysis of the radiography market

• Industrial
• Healthcare

During 2016, the healthcare dominated the digital x-ray market and accounted for a major part of the overall market share. The growing importance of improved healthcare services and accurate diagnosis is the major reason for the large-scale use of radiography equipment in this sector. Also, the growing need for radiography to increase product reliability and customer satisfaction will further propel the growth of this segment in the next four years.

Geographical segmentation and analysis of the radiography market

• Americas
• APAC
• EMEA

In this market study, analysts have estimated the Americas to dominate the digital x-ray market during the forecast period. Factors such as improved imaging methods and migration to digital radiography systems are the major reasons impacting the radiography growth in the region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global radiography market?
• What are the key market trends impacting the growth of the global radiography market?
• What are the challenges to market growth?
• Who are the key vendors in the global radiography market?
• What are the market opportunities and threats faced by the vendors in the global radiography market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global radiography market?

Technavio also offers customization on reports based on specific client requirement.

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