Radiographic Film Processor Market Segmentation By Product (Automatic Film Processor and Manual Film Processor); By Technology (Digital Radiography and Computed Radiography); By Application (Medical and Industrial); By End User (Hospitals, Diagnostic Centers and Industries) - Global Demand Analysis & Opportunity Outlook 2027
Buy Now Report ID: 840 | Published Date: Feb 09, 2023
Our in-depth analysis segmented the global radiographic film processor market in the following segments:
Global radiographic film processor market is further classified on the basis of region as follows:
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The global radiographic film processor market is anticipated to expand at a significant CAGR during 2018-2027. It is projected to reach significant market size by 2027. The increasing number of healthcare disorder coupled with advancement in the technology to cure chronic disease is anticipated to boost the global radiographic film processor market during the forecast period. The global radiographic film processor market can be segmented on the basis of product, technology, application and end-user. On the basis of product it is sub-segmented into automatic film processor and manual film processor. Automatic film processor is anticipated to witness substantial growth during the forecast period. Manual film processor is increasingly used in various applications on the account of ease in handling of the device. On the basis of technology, it is sub-segmented into digital radiography and computed radiography. Computed radiography is anticipated to observe fastest growth during the forecast period. It takes relatively less processing time for generating high quality images. It also does not require any chemical processing. On the basis of application it is sub-segmented into medical and industrial. Medical is anticipated to lead the application segment on the account of increasing application of radiography for the heart surgery and transplantation. This technique is also used by various industries such as automotive, gas and oil, and aerospace industry on the account of improving the productivity of manufacturing plants and reducing the wastage considerably. On the basis of end-user, it is sub-segmented into hospitals, diagnostic centers and industries. Hospitals are anticipated to be the fastest growing end-user segment of the global radiographic film processor market throughout the forecast period. The growing pool of the patients suffering from chronic diseases coupled with the accessibility of advanced technology in order to diagnose the patient is anticipated to be the major factor for the region to lead the global radiographic film processor market during the forecast period.
By region, global radiographic film processor market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to lead the global radiographic film processor market on the account of increasing technological development in the region coupled with rising acceptance of the computed radiography in the countries such as U.S and Canada. Additionally, the establishment of enhanced healthcare facilities in the region is also anticipated to increase the demand for the radiographic film processor. Asia-Pacific is anticipated to be the fastest growing region for the radiographic film processor market on the account of large pool patients suffering from chronic disease and increasing awareness regarding various diseases. The increasing expenditure of the government in healthcare is anticipated to be the major reason for the region to exhibit significant growth throughout the forecast period.
The increasing incidence of the chronic disease among the growing population is anticipated to be major growth driver for the global radiographic film processor market throughout the forecast period. The increasing use of computed radiography for various medical applications is also anticipated to fuel the market growth of the global radiographic film market. Additionally, the adoption of high quality imaging tools for various industrial and medical purposes is anticipated to upsurge the demand for the radiographic film processor.
However, high cost associated with the radiographic films is anticipated to be major restrain for the global radiographic film processor market
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.
Author Credits: Radhika Gupta, Shivam Bhutani
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