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Global Digital Radiography Market to Hit USD 2,978.3 Million with 5% CAGR by 2026, Demand among Geriatric Population Likely to Remain High, says Fortune Business Insights™

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Pune, India, Dec. 10, 2020 (GLOBE NEWSWIRE) — The global digital radiography market is likely to gain significant impetus from recent technological advancements. The market is likely to expand at an in impressive rate of 5.0% CAGR due to exceptional advancements made in the field of medical X-Ray technology. Fortune Business Insights™ has predicted a market to reach value of USD 2,978.3 Million by the end of 2026. The report has pegged the global market at USD 1,905.5 Million in 2018. Varex Imaging Corporation, Agfa- Gravaert Group, FUJIFILM Holdings America Corporation, Konica Minolta Business Solutions U.S.A., Inc., Canon U.S.A., Inc. KA Imaging, Imaging Dynamics Company Ltd., Detection Technology Plc., Hamamatsu Photonics K.K., Teledyne Digital Imaging Inc.Key Industry Developments:In April 2019, Varex Imaging Corporation completed acquisition of Direct Conversion, a Stockholm-based leading manufacturer and marketer of linear array digital detectors.In 2017, Canon USA and Virtual Imaging Inc. announced the launch of the CXDI-710C, CXDI-810C and CXDI-410C wireless digital radiography (DR) detectors to help to update the digital X-ray process.In October 2016, Teledyne DALSA launched the Portable Digital Radiography System at the ASNT Annual Conference held in Long Beach, California.
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Rising Geriatric Population: A Major Driving ForceThe increasing geriatric population is one the key factors giving tailwinds to the growth of the digital radiography market. According to the report, pace of gains for the market will accelerate in response to the increasing geriatric population. Among all age groups, aged people are most vulnerable to chronic diseases, as their immunity decreases with time.Furthermore, their mobility is often compromised with due to prolonged illness, which also mars their ability to travel to hospitals, diagnosis centres, or clinics Thus, the demand for digital radiography devices is likely to remain high among geriatric population.
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Philips Receives FDA Clearance for ‘ProxiDiagnost N90’: Claims Dose-Rate Reduction up to 68%In 2018, Philips received FDA approval for its product ‘ProiDiagnost N90’. This device was a first of its kind digital radiography fluoroscopy system, aimed at diagnosis and medical imaging of the highest precision. ProxiDiagnost N90 allowed diagnosis within no time, and at the same time, enables high quality x-ray images.The device use the mechanism of a flat-panel x-ray detector. With its optimum efficiency, the device also carries out the work of several frames and operates within a single frame. Furthermores, the company went out to state that with its grid-control fluoroscopy (GCF) method, it will massively reduce patient-dosage rates up to 68%. The product is most likely to be adopted rapidly in the forthcoming years due to its hugely successful initial reviews.
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Drawbacks of Film-Based Processing to Increase Demand for Digital RadiographyConventionally used film based image processing possessed several drawbacks. These drawbacks included long time for processing, inefficient diagnosis, and unclear images. Furthermore, some film-based x-ray image processing machines contained a lot of space and were naturally heavy to carry and relocate.Thus, the need and demand for portability was a key factor creating growth opportunities for the digital radiography market. The aforementioned factors led to the demand for a portable radiography device, wherein the machine could be carried to patients and not the vice versa. Digital radiography equipment sufficed all such needs and thus, they have been widely adopted by end-users, globally
List of Key Players in Digital Radiography Market Companies:Varex Imaging CorporationAgfa- Gravaert GroupFUJIFILM Holdings America CorporationKonica Minolta Business Solutions U.S.A., Inc.Canon U.S.A., Inc.KA ImagingImaging Dynamics Company Ltd.Detection Technology Plc.Hamamatsu Photonics K.K.Teledyne Digital Imaging Inc.Other players
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Global Digital Radiography Market Segmentation:By Product           •              Computed Radiography•              Direct Digital RadiographyBy Type •              Dynamic•              StaticBy Application     •              General Radiography•              Dentistry•              Oncology•              Orthopedic•              OthersBy End User         •              Hospital•              Clinics•              Diagnostic Centers•              OthersBy Geography      •              North America (USA and Canada)•              Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)•              Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)•              Latin America (Brazil, Mexico and Rest of Latin America)•              Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companiesDetails in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facilityNumber of procedures and average price of proceduresReplacement rate and pricing of capital equipmentMarket dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunitiesMarket & technological trends, new product developments, product pipeline.
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