The market for digital X-ray equipment is expected to hit $4.5 bn by the close of this decade, and grow at a Compound Annual Growth Rate (CAGR) of 3% until 2030.
It appears as if the frequency of chronic diseases is rising; this factor considered alongside constant technology developments, and more patients being aware of initial stage diagnostic methods, together contribute to the industry's expansion.
“The market for digital X-ray equipment is expected to hit $4.5 bn by the close of this decade“
The compact detector utilised in DR technology is a reliable, wireless, and efficient device. Digital X-ray imageries are created using this technique, doing away with the requirement for film or CR (Computed Radiography) plates.
Furthermore, conventional radiography that uses film needs a higher labour input, and supplies that come with a higher price tag. Using the compact detector for this offers a variety of advantages over conventional X-rays, such as 70% less radiation, improved imaging standard, and faster acquisition times.
The World Health Organisation claims that chronic diseases are responsible for approximately 41 million (almost 75%) of worldwide fatalities. The need for digital X-ray technology is increased by its capacity to detect chronic diseases and other illnesses early on in their development.
The industry's growth is also anticipated to be augmented by constant and fast technology developments including the incorporation of Artificial Intelligence (AI) and lower X-ray dose exposure.
To increase their respective market shares, major companies within the sector are employing a variety of expansion techniques to achieve either organic or inorganic growth.
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