Market Trends of Canada Digital X-Ray Devices Industry
This section covers the major market trends shaping the Canada Digital X-Ray Devices Market according to our research experts:
Computed Radiography is Expected to Witness Healthy Growth Over the Forecast Period
Computed radiography (CR), a computerized alternative to traditional X-ray film radiography, has many advantages for inspection tasks because it essentially eliminates consumable use and substantially reduces image production time. The imaging plates that are present in computed radiography systems are reusable. The factors leading to the growth of this segment include the high burden of chronic disorders (cancer, cardiovascular, orthopedic, etc.) and the increase in strategic initiatives by major companies to use computed radiography in diagnosing neurological issues.
According to UCB Canada Inc., in 2021, Parkinson's disease was found to be affecting 1 in every 500 people in Canada. According to the same source, it was observed that around 100,000 Canadians were living with Parkinson's in Canada as of the year 2021, and approximately 6,600 new cases of Parkinson's are being diagnosed every year. Mostly, people diagnosed are over the age of 60. However, at least 10% of the Parkinson's population develops symptoms before the age of 50. The high burden of Parkinson's in the Canadian population is expected to boost the demand for better imaging which will contribute to the increased utilization of computed radiography systems.
The Canadian cardiovascular digital X-ray devices are witnessing various developments, including product launches and approvals, partnerships, collaborations, mergers, and acquisitions. For instance, in August 2020, Carestream Health launched a new digital radiography detector in the United States and Canada, enabling hospitals and imaging centers specializing in long-length imaging to increase productivity while decreasing patient discomfort and dose. With such launches and the increasing burden of diseases across the country, the segment is expected to witness strong growth over the forecast period.
Furthermore, the rising burden of cancer in Canada is accelerating the demand for cancer screening with the help of X-ray devices which is contributing to the segment growth.
