(I-BusinessNews.Com, February 13, 2021 ) Factors such as growing public and private investments in digital imaging technologies, declining prices and benefits offered by digital detectors, and reimbursement cuts for analog X-rays are driving the growth of the X-ray detector market.
According to research report the global X-Ray Detectors Market is projected to reach USD 3.8 billion by 2024 from USD 2.8 billion in 2019, at a CAGR of 6.1% during the forecast period.
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The X-ray detectors market is highly competitive with the presence of several small and big players. Some of the prominent players in the market include Varex Imaging Corporation (US), Thales Group (France), Canon, Inc. (Japan), Konica Minolta, Inc. (Japan), Teledyne DALSA Inc. (US), Fujifilm Holdings Corporation (Japan), Agfa-Gevaert Group (Belgium), Carestream Health (US), Vieworks Co., Ltd (South Korea), Analogic Corporation (US), Rayence (South Korea), and Hamamatsu Photonics K.K. (Japan).
North America will continue to dominate the X-ray detectors market during the forecast period
In 2019, North America is expected to account for the largest share of the market. The large share of this region is attributed to factors such as technological innovations, increasing healthcare spending, availability of venture capital and government funding, and increasing incidence of chronic diseases. Europe is expected to account for the second-largest share of the market in 2019. Factors such as advancements in healthcare infrastructure, technological advancements, and favorable venture capital funding are expected to fuel the market growth in this region.
Medical applications to register the highest growth in the X-ray detectors market during the forecast period.
By application, the market is segmented into medical, dental, security, veterinary, and industrial applications. The medical applications segment is expected to grow at the highest rate during the forecast period. The growth in this segment can primarily be attributed to the advancements in medical technology, rising geriatric population, and the increasing number of orthopedic and cardiovascular procedures.
Flat-panel detectors (FPDs) to account for the largest share of the X-ray detectors market in 2019
Based on type, the market is segmented into flat-panel detectors (FPDs), computed radiography (CR) detectors, charge-coupled device (CCD) detectors, and line-scan detectors. In 2019, the flat-panel detectors segment is expected to account for the largest share of the X-ray detectors market. The growth in this market is mainly driven by the advantages offered by FPD-based portable digital systems (such as high-quality images, faster scanning, increased patient throughput, and multiple storage options), their decreasing prices, and the growing demand for retrofit FPD-based digital X-ray systems.
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