India Digital X-Ray Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

India Digital X-Ray Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

India digital X-ray market was valued at USD 311.51 million in 2021 and is projected to register a CAGR of 10.22% during the forecast period (2022-2027).

The COVID-19 pandemic had a significant impact on the digital x-ray market in India. Various research studies have been published to provide insight into the effects of the pandemic on the studied market. Patients at private hospitals across India were surveyed in May 2021 by the healthcare trade group NATHEALTH, and the results showed that 57% of respondents had changed their treatment plans during the first COVID-19 wave, which ran from March to December 2020. 34% of OPD patients canceled or postponed their hospital visits during that time, compared to 100% of elective surgery patients. However, the Indian economy is expected to pick up steam in 2021, which will allow any elective treatments that were put on hold due to the crisis to resume. In August 2021, the connection was still an issue, but remote monitoring tools helped increase ICU capacity in India's cities and rural areas. The faster diagnosis was made possible by innovative CT solutions and AI chest x-ray applications, which were also safer for both patients and staff. Thus, all the factors mentioned above impacted India's digital x-ray devices market's growth over the pandemic phase.

The increasing prevalence of diseases such as osteoarthritis and initiatives by key market players are expected to increase the market growth. Osteoarthritis (OA), one of the top five chronic illnesses in India, is predicted to impact 4-6% of the adult population by the year 2020, according to arthritis-india.com. By 2025, there will likely be an endemic of osteoarthritis, with roughly 80% of people 65 and older suffering from joint wear and strain. Therefore, the market growth is being positively impacted by India's increasing prevalence of chronic disorders. In order to help with the early diagnosis and improved monitoring of patients afflicted with the novel coronavirus (COVID-19) disease, ITIE Knowledge Solutions, a Bengaluru-based healthcare product development business, teamed up with HDT, a South Korean company. According to the manufacturer, the portable digital x-ray machine can be used to examine the effects of the COVID-19 infection on the chest. In May 2021, Fujifilm India Pvt. Ltd. released computed aided radiology software called qXR*1, developed by Qure.ai using deep-learning artificial intelligence (AI) technology. According to Qure.ai, AI can quickly scan x-ray images for odd finds. The Expansion Unit EX-Mobile*2 is a brand-new image processing unit that is included with Fujifilm's FDR Xair portable x-ray machine and enables it to connect to qXR software. By informing them of odd results at the point of care, it might assist medical professionals and technicians. Thus, the abovementioned factors are expected to increase the market growth.

However, the high cost of the equipment is expected to hinder the market growth.

Key Market TrendsComputed Radiography Segment is Expected to Hold a Significant Market Share Over the Forecast Period

Computed radiography (CR) equipment is used in numerous applications, such as medical facilities and industrial purposes. CR equipment comprises an imaging plate, which is made up of photostimulable phosphor. Factors such as the increasing prevalence of cancer coupled with initiatives by the key market players. In India, the anticipated five-year frequency of breast cancer cases in 2020 was 459,271, according to the Globocan 2020 report published by the International Agency for Research on Cancer. Additionally, 2,720,251 instances of all cancer were predicted to occur in India over a five-year period in 2020, according to the same survey. The high prevalence of various cancer conditions in India is predicted to increase the demand for digital x-rays used in diagnostics. To help the business expand, a number of manufacturers have partnered with the government to put their digital radiography equipment in hospitals. At Kasturba hospital in Mumbai, Agfa India installed the CR 12-X computed radiography system and the most cutting-edge Chest+ software in April 2020 for the triage and treatment of patients with COVID-19. This solution made performing chest exams significantly quicker. At the 73rd National Conference of the Indian Radiological and Imaging Association (IRIA) in January 2020, Fujifilm India Private Limited, one of the top companies in the healthcare sector, showcased its most recent medical systems. Fujifilm demonstrated the Prima TM, a mammography-compatible desktop FCR (Fuji Computed Radiography) with an economical high-speed image processing system. The device offers outstanding image quality with a 50-micron resolution and a space-saving design. Future market growth is anticipated as a result of such product launches in India. Therefore, it is anticipated that the aforementioned improvements will further enhance the market growth in this sector.

Competitive Landscape

India digital x-ray market is moderately competitive and consists of several major players. Some of the companies that are currently dominating the market are Carestream Health, Siemens Healthineers AG, GE Healthcare, Fujifilm Holdings Corporation, and Koninklijke Philips NV among others.

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