Market Trends of X-ray Film Industry
This section covers the major market trends shaping the X-ray Film Market according to our research experts:
Diagnostic Centers Segment is Expected to Register a Significant Growth
- The demand for the diagnostic industry is expanding rapidly in developing economies. However, still, there are many major issues to be solved, which are test accuracy, quality, and cost, which is driving the demand for studies market in this segment.
- In developing economies, the major investment and essential technological developments are generated in the private sector, while in developed economies, like Europe, this is almost exclusive to the Public Sector. The public sector diagnostic imaging focuses on providing the highest possible coverage.
- For instance, in 2018, Dalian Wanda Group Co Ltd announced to invest USD10 billion in a health park in China. This investment is expected to be done after the government ease the norms for FDI in Chinese private healthcare sector.
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Asia-Pacific to Witness a Significant Growth Rate
- Asia-Pacific still relies on traditional x-ray solutions significantly. Due to the region’s increasing population and the number of patients suffering from ailments, who should be diagnosed or managed through the use of CT, the use of x-rays is on the rise. This growing pool of patients has led to high demand for medical imaging.
- In the Asia-Pacific region, hospitals play a crucial role in medical diagnostics. In China, the last recorded number of hospitals is on the rise, from 23,170 hospitals to 29,140 hospitals approximately, the National Bureau of Statistics of China reported an increase in the number of hospitals in the country.
- In addition to this, the move toward digital radiography is slow in the region when compared to other regions. This is because of the reliance on x-ray radiography to diagnose the ailment and diseases of the internal body parts. Thus, owing to the slower adoption of digital radiography, the market studied in APAC is expected to witness the fastest CAGR, over the forecast period.
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