Market Analysis: X-Ray

In 2009, the market share of digital systems in the $12 billion X-ray equipment market reached 50 percent, according to health care market researcher Kalorama Information. Digital images are sharper, are produced in seconds, and can be read and transmitted almost instantly. Digital X-rays can be stored less expensively and transmitted electronically.

The digital X-ray market “should continue to experience soft growth in the next few years given the world economic conditions, but eventually growth will be stronger than the market growth of conventional X-ray systems,” which also continues to increase, according to Kalorama’s X-ray/Radiography Markets report. The market is expected to reach a value of 3.68 billion this year.

The cost of a digital medical X-ray system is significantly higher than an analog system, though the initial cost is justified in part by increases in productivity and efficiency digital provides. While the initial cost is higher for digital X-ray, the annual cost is significantly lower, as digital systems don’t require film and processing or space for film storage. However, convenience and ease of use are the primary sales drivers, Kalorama finds.

The market for medical X-ray technologies can be divided between digital and analog or according to application, such as chest X-ray, mammography, fluoroscopy and general X-ray imaging.

Chest X-rays are the most commonly performed radiographic exam – more than half of all X-rays are of the chest, Kalorama reports. Digital mammography is another common X-ray application, and the market for digital X-ray products continues to grow – digital exams expose the patient to less radiation, and the use of computer-aided detection (CAD) can make pinpointing problem areas easier. Kalorama expects the world market for digital X-ray to grow at a faster rate than the market for traditional X-ray, which still experiences growth in developing markets. Fluoroscopy’s growth has slowed as clinicians have begun to favor CT, MRI and ultrasound modalities to image a patient’s internal structures.

Kalorama reports that large companies with more flexible budgets for research and development of new technology own a large share of the market, while other companies, such as Kodak, have left the business altogether in the wake of the digital transition.

Published in the February issus of Medical Dealer Magazine.