Digital Radiology Devices Market Projected to Witness Vigorous Expansion by 2024

 Market Highlights

Global digital radiology devices market expected to grow significantly over the forecast period. It is anticipated that the market held a market value of USD 8146.54 million in 2018 and is projected to grow at a CAGR of 10.8% over the forecast period.

The global digital radiology devices market is growing at a rapid pace, the major factors influencing the growth of the market include; increasing geriatric population, increasing prevalence of chronic and dental diseases. Cardiovascular imaging, chest imaging, and dental imaging have been few of the major application of digital radiology device.

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Chronic diseases and conditions are increasing rapidly worldwide. According to the World Health Organization (WHO), the amount of the burden of chronic diseases is expected to increase to 60% by 2020, and 79% of deaths due to these diseases would occur in developing countries. This increasing chronic disease is influencing the growth of the market.

Moreover, dental imaging has also been one of the fastest growing segments for digital radiology market. Dental Imaging and digital radiology have been a preferred imaging methodology for comprehensive orthodontic treatment all around the globe. The data acquired from digital radiology imaging provides numerous substantial advantages in orthodontic procedures. For instance, digital radiology device gives precise measurements, enhances localization of impacted teeth, gives a visualization of airway abnormalities, it recognizes and measures asymmetry, it can be utilized to survey periodontal structures, to distinguish endodontic issues and various others. This increasing popularity of digital radiology devices in the field of orthodontics is further influencing the growth of the global digital radiology devices market.

Segmentation

The global digital radiology devices market has been segmented into type, method, application, and end user.

Based on type, market segmented into stationary digital radiology systems, (Ceiling-mounted systems, Floor-to-ceiling mounted systems) and portable digital radiology systems (Handheld radiology systems, Mobile radiology systems)

On the basis of method, the market is segmented into computed radiography (CR) and direct radiography (DR)

Based on application, the digital radiology devices market is segmented into cardiovascular imaging, chest imaging, dental imaging, mammography imaging, orthopedic imaging, and others.

Based on end user, the digital radiology devices market is segmented into hospitals & clinics, Diagnostic centers, and others.

Key Players

Some of the major players operating in the global digital radiology devices market are Fujifilm Holdings Corporation, Agfa-Gevaert Group, Canon Inc, Carestream Health Inc, Koninklijke Philips N.V., Siemens, Varian Medical Systems, Inc, Shimadzu Corporation, Hologic, Nucleotech Medical Systems International Limited, Protec GmbH & Co. KG, General Electric Company, Hitachi, Ltd., Konica Minolta, Inc,

Regional Analysis

Geographically the market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

Geographically, the Americas is anticipated to dominate the global digital radiology devices market owing to the presence of the major manufacturers, huge patient population, high healthcare expenditure, increasing adoption of technologically advanced devices. Europe is expected to hold the second largest position in the global digital radiology devices market. Asia-Pacific is the fastest growing digital radiology device market owing to the increasing need for better imaging devices, rapidly improving technology and the presence of a huge patient pool. The Middle East and Africa market for digital radiology device is expected to grow at a steady.

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Lancet Market to Witness an Outstanding Growth by 2024

 The Global Lancet Market Registered a CAGR of 10.50% during the assessment period, with a market value of USD 1,595.5 Million in 2018.

Lancets are being used for diabetes/glucose test, tests in infants, heel-stick screening tests, as well as for scarred emergency patients or severely burned patients. The factors driving the market growth include growing incidence rate of contagious and non-contagious diseases, increasing prevalence of diabetes, and rising inclination towards home care and home diagnostics. However, the risk associated with blood transfusion is expected to hinder the market growth during the forecast period.

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Market Dynamics

One of the major applications or functioning areas of lancets is to monitor diabetes in the diabetic population. According to the Centers for Disease Control and Prevention (CDC), 9.4% of the US population are diabetic patients. With the increasing prevalence of diabetes, the demand for lancets is expected to be enormous, thus resulting in the increasing demand for devices and products to monitor and control diabetes, eventually leading to increased use of lancets.

Segmentation

The global lancet market based on type has been segmented into safety lancet and personal lancet. Safety lancets can be further divided into push-button safety lancets; pressure activated safety lancets and side button safety lancets. Based on end user, the market is segmented into the hospitals & clinics, diagnostic centers & pathology laboratories, home diagnostics, research and academic laboratories, and others. The hospitals & clinics segment held a major share with a market value of USD 544 Million in 2018.

Key Players

The prominent players in the global lancet market are Terumo Corporation (Japan), Bayer AG (Germany), HTL-STREFA S.A. (Poland), Sarstedt AG & Co. (Germany), Becton, Dickinson and Company (US), Abbott Laboratories (US), F. Hoffmann-La Roche Ltd (Switzerland), Greiner Bio-One International GmbH (US), Improve Medical Instruments Co. Ltd (US) and others.

Some of the key strategies followed by players operating in the global lancet market were innovation, product development, acquisition, and mergers.

Regional Analysis

The global lancet market, based on region, is divided into Europe, the Americas, Asia-Pacific, and the Middle East and Africa.

Europe held the largest share of the global lancet market. The Europe market demonstrated substantial growth in the market due to the growing demand and need for safe blood glucose tests in hospitals, clinics, diagnostics centers, etc. and the growth in insulin users. The Americas held a substantial share in the global lancet market owing to the rise in the prevalence of diabetes and the increasing need for a diabetes diagnosis. Asia-Pacific was the fastest growing region in the global market and accounted for 19.1% market share in the global market in 2018. The growth in this region is attributed to the low manufacturing cost and low labor cost in the region. Moreover, the Middle East and Africa showed the least growth owing to low per capita income and lack of adequate healthcare spending.

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Radiology Services Market to Witness Widespread Expansion During 2020 to 2024

 Market Scenario

The global radiology services market accounted for USD 8,102.51 million in 2018 and is expected to register a CAGR of 10.5% during the forecast period (2019–2024).

Radiology is the technology that diagnosis and treat diseases within the human body by using medical imaging. The radiology services are served by the radiologists and experts that are qualified for performing the test and have unique postgraduate medical education in, radiation effects on the human body, radiation safety/protection, appropriate performance and interpretation of quality radiologic, and medical imaging examinations. Radiology services comprise X-Rays, computed tomography (CT), ultrasound, fusion imaging, positron emission tomography (PET), nuclear medicine, and magnetic resonance imaging (MRI). These imaging techniques should be performed after having adequate training and understanding of radiation safety and protection.

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The rising prevalence of the chronic disease, increasing healthcare expenditure, the emergence of thin client 3D viewers, advancement in radiology technology, rising demand for minimally invasive procedures are expected to drive the growth of the market. Moreover, rising R&D spending and aggressive strategies adopted by the top players, such as new product launches, are contributing to the growth of the market. For instance, In June 2018, FDA has anticipated reclassifying some types of radiology image software analyzers from class III to class II devices for mammography breast cancer, ultrasound breast lesions, and radiograph lung nodules. This will help to reduce the regulatory burden on the medical device industry.

However, the risk of high radiation exposure associated with the devices may hamper the growth of the market during the assessment period.

Segmentation

The global radiology services market has been segmented on the basis of product type, application, technology, end user, and region.

On the basis of product type, the market has been classified as stationary digital radiology systems and portable digital radiology systems. Stationary digital radiology systems have been further segmented into stationary ceiling-mounted systems and floor-to-ceiling mounted system. Based on application, the market has been segmented into cardiovascular imaging, chest imaging, dental imaging, mammography imaging, orthopedic imaging, and others. The market, by technology, has been segmented into computed radiology and direct digital radiology. On the basis of end user, the market has been classified as hospitals, diagnostic centers, and others. The stationary digital radiology segment is expected to hold the largest market share of the radiology services market due to acceptance of stationary systems in hospitals, extensive application, and less exposure to radiation. However, portable digital radiology segment is showing the highest growth rate owing to simplicity in the workflow, low-cost, and proficiency performing complex computational tasks.

The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The radiology services market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.

The European radiology services market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. 

The radiology services market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The radiology services market in the Middle East & Africa has been segmented into the Middle East and Africa.

Key Players

Some of the key players in the global radiology services market are 4ways Healthcare Limited, Cybernet Medical Corporation, Everlight Radiology, Global Diagnostics, Medica Reporting Ltd., Onrad, Inc, Radisphere National Radiology Group Inc., RamSoft Inc., Siemens Healthcare, Telediagnostics Services Pvt. Ltd., Telemedicine Clinic, Teleradiology Solutions Inc, and Virtual Radiology (vRAD).

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Global Flat Panel Detector Market Expected to Grow with a healthy CAGR

 Market Highlights

The global flat panel detector (FPD) market held a market value of USD 3.06 Billion in 2018 and is projected to grow at a CAGR of 6.7% over the forecast period.  

Flat panel detector (FPD) is a type of solid-state X-ray digital radiography device. It works in the same way as image sensors used in digital photography and video works. Growing public and private investments in digital imaging technologies and declining prices and benefits offered by digital detectors are positively affecting market growth. Additionally, growing medical tourism in developing countries is also expected to drive the market growth.

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On the other hand, the high cost of the system is likely to hamper the growth of the market.

Segmentation

The global flat panel detector (FPD) market has been segmented by portability, application, and end user.

By portability, the market has been segmented into fixed and portable. The portable flat panel detector is expected to show the largest market share.

By application, the market has been segmented into medical, orthopedic, cardiac, veterinary, mammogram, dental, and others.

The market, by end user, has been segmented into hospitals and clinics, and diagnostic centers.

Key Players

Some of the prominent players in the global flat panel detector (FPD) market are General Electric Company, Carestream Health, Canon Medical Systems Corporation, Fujifilm Holdings America Corporation, PerkinElmer Inc., Trixell, iRay Technology, Varian Medical Systems, Inc., Agfa-Gevaert Group, New Medical Imaging Co., Ltd, Varex Imaging Corporation, Imaging Dynamics Company Ltd and others.

Regional Analysis

On a regional basis, the Americas is anticipated to dominate the global flat panel detector (FPD) market owing to the technological innovations, increasing healthcare spending, availability of venture capital and government funding, and increasing incidence of chronic diseases in the region has fueled the growth of the market. Additionally, major companies are located in North America which is fueling the market growth.

Europe is expected to hold the second largest position in the global flat panel detector (FPD) market owing to the presence of well-developed healthcare sector, strong government support for research & development and high healthcare expenditure in the European countries. Well-developed technologies in Europe have also played a predominant role in the development of the European market.

Asia-Pacific is anticipated to be the fastest growing region in the global flat panel detector (FPD) market owing to the growing adoption of digital imaging systems, rising disposable income, growing number of awareness programs and symposia, and growing venture capital investments.

The Middle East & Africa has the least share of the global flat panel detector (FPD) market.  Moreover, the major market share of the region is expected to be held by the Middle East region owing to the growing government initiatives for the healthcare sector.

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Autoinjectors Market is Expected to Exhibit a Strong CAGR during forecast period upto 2024

 Market Highlights

The Global Autoinjectors Market is Estimated to be Valued at USD 79,741 Million by 2024 and is Expected to Register a CAGR of 17.42% During the Forecast Period.

The disposable autoinjectors segment is expected to lead the market and register a substantial CAGR to reach USD 53,696.20 Million by the end of 2024. The increasing demand for testing new drugs and chemicals and vigorous growth in the pharmaceutical and biopharmaceutical sectors are expected to drive the market growth. Additionally, the disposable autoinjectors segment is also projected to exhibit the highest CAGR of 17.90% from 2019 to 2024.

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Americas accounted for the largest market share of 40.6% in 2018, and the regional market is projected to register a CAGR of 16.60% during the forecast period. Asia-Pacific is expected to register the fastest CAGR. The Indian market is projected to exhibit the highest growth rate of 18.95% during the forecast period of 2019 to 2024. 

Segment Analysis

The Global Autoinjectors Market has been segmented on the basis of product type, design therapeutic application, distribution channel, and region. On the basis of product type, the market has been divided into the disposable autoinjectors and reusable autoinjectors. The disposable autoinjectors segment held the majority market share in 2018. It also was the fastest-growing owing to the increasing demand for testing new drugs and chemicals and vigorous growth in the pharmaceutical and biopharmaceutical sectors.

Market Players

Market Research Future (MRFR) recognizes Amgen Inc. (US), Becton, Dickinson and Company (US), AbbVie Inc. (US), Mylan N.V. (US), Eli Lilly and Company (US), Ypsomed (Switzerland), Owen Mumford Ltd (UK), Consort Medical (UK), SHL Group (Taiwan), Johnson & Johnson Services Inc. (US), Teva Pharmaceutical Industries Ltd (Israel), Antares Pharma (US) as the key players in the Global Autoinjectors Market.

Regional Analysis

Geographically, the global autoinjectors market has been segmented into North America, Europe, Asia-Pacific, and the Middle East & Africa. As per MRFR analysis, the Americas was the largest market for the autoinjectors in 2018 and is expected to remain dominant during the review period. Europe accounted for a significant market share and is projected to be the second-largest market during the forecast period. The well-established healthcare infrastructure, technology advancement, and innovation in drug delivery systems, and rising prevalence of anaphylaxis incidences, diabetes, and cancer are driving the growth of the autoinjectors market in the region. Germany accounted for the largest market share of 24.7% in 2018, and the country-level market is projected to register a CAGR of 15.84% during the forecast period.

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Laparoscopy Devices Market is Expected to Exhibit a Strong CAGR during forecast period upto 2023

 Market Highlights

The Global Laparoscopy Devices Market Is Estimated To Be Valued At USD 17,206.32 Million By 2023 And Expected To Grow At A CAGR Of 8.30% During The Forecast Period.

Laparoscopy devices are used in surgical procedures that permit a surgeon to access the inside of the abdomen and pelvis without having to make large incisions in the skin. This laparoscopic surgical procedure is also known as keyhole surgery or minimally invasive surgery. Laparoscopy devices capture images in the stomach, small intestine, and pelvic system which are utilized for the diagnosis of various intestinal, gynecological, and urological diseases.

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The demand for laparoscopic surgical procedures is rising due to major benefits associated with these surgeries such as small or no incision, short hospital stays, less pain, quick recovery time, less scarring, and reduction in blood loss.   

Market Research Future (MRFR) recognizes the following companies as the key players in the global laparoscopy devices market that includes:  Becton, Dickinson and Company (US), Smith & Nephew PLC (UK), B. Braun Melsungen AG (Germany), Medtronic PLC (US), Cook Medical LLC (US), Fujifilm Holdings Corporation (Japan), Olympus Corporation (Japan), Stryker Corporation (US), KARL STORZ SE & Co. KG (Germany), Richard Wolf GmbH (Germany), and others.

Segment analysis

Global laparoscopy devices market has been segmented on the basis of product, application, and end user. On the basis of product, the global laparoscopy devices market has been segmented into laparoscopes, energy devices, insufflation devices, suction/irrigation devices, handheld instruments, access devices, trocars, internal closure devices, and others. A laparoscope is a leading segment, which is growing at the highest CAGR to reach USD 5091.77 million by the end of 2023.

Based on application, the global laparoscopy devices market has been segmented into general surgery, bariatric surgery, gynecological surgery, urological surgery, colorectal surgery, and others. The general surgery segment accounts for a major share with 7.79% CAGR during the forecast period. On the basis of end user, the global laparoscopy devices market has been segmented into ambulatory centers, hospitals and clinics, and specialty centers. The hospitals & clinics segment accounted for a considerable market share of 38.11% as of 2017.

Regional Analysis

Geographically, the global laparoscopy devices market is segmented into North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. As per MRFR analysis, The Americas acquired the largest share in the market owing to its high GDP per capita income and the rising geriatric population which is highly prone to degenerative diseases and chronic illnesses, causing an increased need for diagnosis and therapeutics. For instance, according to the US Census Bureau, in 2016, around 49.2 million residents were aged 65 and above. For instance, according to the US Census Bureau, in 2016, around 49.2 million residents were aged 65 and above. The European market is expected to register a second largest market share during the forecast period due to major driving factors such as rising patient population of cancer, increasing research on laparoscopy advancements, availability of advanced treatment facilities, increasing healthcare expenditure, and introduction of advanced and integrated monitoring devices into the market along with the presence of a good healthcare infrastructure. Asia-Pacific is the fastest growing market for laparoscopy devices. The Asia-Pacific laparoscopy devices market is expected to reach USD 4205.58 million by the end of 2023. It is attributed to the huge patient population and rapid development in technology. Also, the government of this region is looking forward to availing better treatment options from developed nations to improve the quality of life of their citizens. The laparoscopy devices market in the Middle East and Africa is divided into two regions, namely, the Middle East and Africa. Africa holds the least share of the market due to poor political conditions in Africa and the limited availability of funds and medical facilities.

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Endodontic Devices Market to Witness an Outstanding Growth by 2023

 Market Highlights

The global endodontic devices market is expected to register an approximate CAGR of 5.34% during forecast period, 2018–2023.

Endodontics is a part of dentistry which deals with the study and treatment of the dental tissue. Endodontic treatment is also called root canal treatment which involves the diagnosis, prevention, and treatment of illnesses and injuries of the dental pulp. The development by the medical device companies in the dental care immensely improved the quality of dental treatment.

The increasing globalization and adoption of new technology contribute to driving the endodontic device market. The major key factors contributing to driving this market are increasing prevalence of the dental problem, microbial infected tooth, rising aging population and increasing incidence of oral cavity cancer among the population.

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However, the factors such as high cost of treatment, illegal sales of dental products and complications related to treatments may hamper the market growth during the forecasted period.

Segmentation

The global endodontic devices market is segmented on the basis of product, end user, and region.

On the basis of product, the global endodontic devices market is segmented into consumables and instruments.

By consumables, the global endodontic devices market is categorized into endodontic burs, endodontic files & shaper, irrigating solution & lubricants, obturation filling materials and others.

By instruments, the market is further sub-segmented into apex locators, endodontic scalers, machine-assisted obturation systems, handpieces, and endodontic lasers. By end-user, the global endodontic devices market is categorized into dental clinics, dental hospitals, laboratories, dental academic and research institutes.

On the bases of region, the global endodontic devices market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to hold the largest market share and the Middle East & Africa with a low market share during the forecasted period.

Regional Analysis

The Americas dominates the global market for endodontic devices owing to the rising occurrence of dental infections because of changing eating habits, the rise in prevalence of dental ailments, and growth rate of accidents. Also, the presence of a large number of medical device companies within the region drives the market. In 2017, it was estimated that Europe stood second in the global endodontic devices market due to the rising demand for root canal treatment and increasing microbial infection in teeth in boosts the market growth. Asia-Pacific was the fastest growing region for the global endodontic devices market in 2017. Factors such as increasing innovation and awareness about the available treatment methods of various dental problems fuels the market growth within the region.

On the other hand, the Middle East and Africa holds the least share in the global endodontic devices market. The presence of poor economies and low per capita income, especially within the African region make the market to lag within the region. A majority of the market share within this region is estimated to be held by the Middle East.  

Key Players

Some of the key players in the global endodontic devices market are DENTSPLY SIRONA, Danaher Corporation, Ivoclar Vivadent, Ultradent Products, Septodont, Brasseler USA, MICRO-MEGA, DiaDent Group International, COLTENE Holding, Kerr Corporation, Surtex Instruments Limited, Davis Schottlander & Davis Ltd, Hu-Friedy Mfg. Co., LLC, and others.

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