Market Trends of Global Computed Radiography Industry
This section covers the major market trends shaping the Computed Radiography Market according to our research experts:
Orthopedic Segment is Expected to Projected Significant Growth Over the Forecast Period.
Radiology is extremely important to orthopedic professionals, as precise imaging helps determine the best care possible for the patients. Thus, computed radiology systems play a major role in this application.
Computed radiography is mostly used in identifying fractures and joint dislocations, bone alignment, and stabilization after fracture treatment to detect bone tumors, diagnose bone infection, and monitor progressive musculoskeletal conditions, such as arthritis and osteoporosis.
According to the Centers for Diseases Control and Prevention updates from October 2021, doctor-diagnosed arthritis affects around one in every four persons in the United States (23.7%), or about 58.5 million people. Women are more likely than men to develop arthritis (23.5 percent) (18.1 percent ). Arthritis is more common as people get older. Thus, the rising prevalence of osteoarthritis is expected to boost the market over the forecast period.
Many developments are taking place in the segment, including product launches and approvals, partnerships, collaborations, mergers, and acquisitions in the market for this application. In May 2021, Israeli digital x-ray technology developer Beam-X-Vision Medical launched LDX4343, new computed radiography (CR) system based on cesium-bromide plates.
Thus, owing to the factors mentioned above, such a high burden of arthritis and the technological advancements in this segment are expected to bolster the growth of the market studied.
North America Dominates the Market and Expected to do Same in the Forecast Period.
North America is expected to dominate the market due to the direct presence of key regional players, a strong distribution network, and a well-established healthcare infrastructure.
According to the Rural Health Information Hub June 2020 report, in the United States, there are more than 46 million older adults aged 65 and up; by 2050, that number is expected to rise to nearly 90 million. The number of older adults is expected to rise by nearly 18 million between 2020 and 2030. Thus, the rising geriatric population in the country is expected to boost the studied market.
The major factors driving the computed radiography market are an increase in the technology advancements in computed radiography equipment and the rise in the introduction of new equipment by various key players. For instance, in November 2020, Canon Medical Systems USA Inc launched Premium Auto-Positioning Radiography System for optimal productivity and patient care.
Also, the rise in the adoption of computed radiography equipment coupled with technological advancements and the use of computed radiography equipment by medical facilities is the vital factor escalating the market growth. For instance, in May 2021, KA Imaging signed a distribution agreement in the United States with Alpha Imaging. Hospitals, medical facilities, and practices from 14 states have access to the Reveal 35C single exposure, portable, digital dual-energy subtraction digital radiography (DR) X-ray detector through Alpha Imagin.Thus, due to the above-mentioned developments, the market is expected to see robust growth in technological advancements and development related to computed radiographs.
