Our-in depth analysis of the global Digital Radiography Sensor market includes the following segments:
By Data Storage
By Image Conversion
Global Digital Radiography Sensor Market is further classified on the basis of region as follows:
Digital Radiography Sensor Market is anticipated to record a significant CAGR over the forecast period. Out of many traditional systems available for projecting radiographs, digital radiograph sensors are being used globally. Thus, digital radiography sensor market is taking over other traditional radiograph market since 1990s and the trend is expected to be followed during the forecast period as well across the globe.All over the world since three decades, traditional computerized radiography market has been extensively replaced with digital radiography sensor market. This was due to the invention of direct digital radiography using charged-couple device in 1990s and many technological advances over the time, hence leading to alarming growth rate of digital radiography sensor market.
On the basis of regional platform, global digital radiography sensor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.North America followed by Europe dominates the digital radiography sensor market globally. In both America and Europe, digital radiography sensor market is driven by the fact of involving developed countries, having strong infrastructure for healthcare facilities, awareness and initiative taken by government in use of imaging systems with minimum exposure to harmful radiations and tremendous growth in hospitals, medical industries, and research institutes.
There has been a high pace of growth of digital radiography sensor market in the last decade in countries such as India, China and others due to various advancements in technology owing to increase in medical tourism, improvement in healthcare facilities and medical research provided by government. Dental intraoral sensors in digital radiography are expected to be leading hand in digital radiography sensor market growth worldwide, in the near future.
It has been found that use of digital radiography sensors have reduced radiation exposure to about 20 to 80% due to which major concern such as exposure to harmful radiations in patients and radiologists in imaging systems is minimized greatly. This has been found to be a major driver in growth of the digital radiography sensor market. Additional factors impelling digital radiography sensors market positively are real time results in case of emergencies, user friendly and low cost of tests. Furthermore, less exposure time to radiation, shorter scanning time and readily available portable systems are additionally propelling the digital radiography sensors market rapidly. Digital radiography sensor market is governed by high productivity, examination of more patients in less time, elimination of costly films, and superior image quality with less background noise helps provide more accurate results. Digital radiography sensors are popular amongst radiologists which is thus undeniably driving the digital radiography sensor market.
However, the cost constraints associated with digital radiography sensors is expected to hinder the digital radiography sensor market growth in lower income or developing countries.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.