Market Trends of Europe Digital X-Ray Industry
This section covers the major market trends shaping the Europe Digital X-Ray market according to our research experts:
Cardiovascular Segment Expected to Own a Significant Market Share
Digital X-rays can detect the presence of calcium in the heart or blood vessels. Its presence may indicate the presence of fats and other substances in the blood vessels and the damage to heart valves, coronary arteries, and heart muscle of the protective sac surrounding the heart. Thus, digital X-rays can detect any abnormalities in the cardiovascular segment.
The major factors driving the growth of the segment in the region are the increasing adoption of sedentary and unhealthy lifestyles, the growing incidence of cardiovascular diseases in the continent, and the advantages of digital X-rays over conventional devices.
For instance, according to the data published by the British Heart Foundation in August 2022, in the United Kingdom, over 7.6 million people were living with heart or circulatory disease in 2021. Such increasing prevalence of cardiovascular diseases is expected to drive the demand for effective diagnosis by digital X-ray systems, thereby contributing to the growth of this segment. Also, according to British Heart Foundation data published in January 2022, nearly 284,000 people were waiting for time-critical heart operations and other heart procedures at the end of November 2021. The increasing number of cardiovascular surgeries generates demands for digital X-rays to effectively diagnose the patient's condition, thereby contributing to the growth of the studied segment.
Also, innovative product launches for cardiovascular diseases are expected to boost segment growth. For instance, in May 2021, Fujifilm revealed the results of Europe's first real-world trials of the FDR Xairportable X-ray system in community care. The trial, which was conducted in collaboration with Fujifilm UK, Northumbria Healthcare NHS Foundation Trust, and the Northeast Ambulance Service NHS Foundation Trust, resulted in a significant reduction in hospitalizations.
Thus, the growing incidence of cardiovascular disease, high volume of cardiac surgeries, and innovative product launches are expected to drive the growth of the studied segment during the forecast period.
Germany Expected to Witness Significant Market Growth
Germany holds a large share of the studied market and is expected to dominate over the forecast period. The increasing adoption of healthcare systems toward sophisticated technology and the growing burden of road accident injuries in the region are the major factors driving the digital X-Rays devices market. For instance, the DeStatis Statistisches Bundesamt Report recorded nearly 2,314,939 road accidents in Germany in 2021, with over 325,691 persons injured. Thus, the high rate of accidents and injury cases is increasing the demand for digital X-rays for diagnostics, thereby driving the market in Germany.
Likewise, according to the German Heart Surgery Report: 2021, published in August 2022, approximately 27,947 isolated coronary artery bypass grafting procedures, 36,174 isolated heart valve procedures, and 750 assist device implantations were registered in Germany in 2021. According to the same source, the number of solitary heart transplants in Germany has surged to 329. Such a high volume of cardiac surgeries is also expected to drive the demand for digital X-rays. As X-ray imaging plays a vital role in analyzing pre and post-procedure complications, the high number of cardiovascular procedures in the country is likely to boost the demand for digital X-rays.
Also, the increasing market strategies, such as collaborative partnerships and mergers by various market players and research organizations in Germany, are expected to fuel market growth. For instance, in January 2022, Philips signed a 10-year strategic partnership with University Hospital Brandenburg to update and expand the hospital's diagnostic and therapy choices through sophisticated technology delivery. The EUR 18 million (USD 21.27 million) contract covers the supply of diagnostic imaging solutions, such as ultrasound, MR, and mobile X-ray, as well as image-guided therapy suites and patient monitoring systems.
Thus, the increasing incidence of various chronic diseases and the high volume of surgeries and market player strategies are expected to drive market growth in this country over the forecast period.
