Market Size of Canada Digital X-Ray Devices Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 707.93 Million |
Market Size (2029) | USD 994.31 Million |
CAGR (2024 - 2029) | 7.03 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Canada Digital X-Ray Devices Market Analysis
The Canada Digital X-Ray Devices Market size is estimated at USD 707.93 million in 2024, and is expected to reach USD 994.31 million by 2029, growing at a CAGR of 7.03% during the forecast period (2024-2029).
COVID-19 has made a significant impact on the market studied. Lockdowns were implemented in various Canadian provinces from March 2020, and non-urgent imaging studies with diagnostic screenings were restricted and even temporarily halted. As a result, screening volumes decreased but healthcare organizations maintained to ensure that safety measures were in place to protect patients and healthcare workers. According to an article published in the Canadian Journal of Cardiology in September 2021, titled "The Impact of the COVID-19 Pandemic on Cardiac Procedure Wait List Mortality in Ontario, Canada," when compared to the pre-pandemic period, the number of referrals and procedures completed during the pandemic period was significantly lower. This decrease in the number of referrals greatly reduced the diagnostic scans in the country, having an unfavourable impact on the market studied.
The major factors attributing to the growth of digital X-ray devices are the increasing incidence of orthopedic diseases, dental and cardiovascular surgeries, and cancer, rising technological advancements coupled with an increasing spectrum of applications of these devices. For instance, as per the Canadian Cancer Statistics report published in 2021, the estimated number of people expected to be diagnosed with cancer in Canada was around 229,200. The high number of cancer cases indicate the need for relaible and accurate diagnosis methods which include diagnosis with imaging techniques such as CT scans and MRIs. Therefore, high cancer incidence in the country is believed to act as one of the leading factor for the market studied in Canada.