(I-BusinessNews.Com, August 18, 2020 ) 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 introduction of wireless X-ray detectors, growing medical tourism in developing countries, and the emerging markets are expected to offer significant growth opportunities for market players in the coming years.
• Based on applications, the X-ray detectors market is segmented into medical applications, dental applications, security applications, veterinary applications, and industrial applications. The medical applications segment is expected to grow at the highest CAGR during the forecast period.
• Based on panel size, the FPDs market is segmented into large-area FPDs and small-area FPDs. The large-area FPDs segment is projected to grow at the highest CAGR during the forecast period.
• Based on type, the X-ray detectors market is segmented into flat-panel detectors (FPDs), computed radiography (CR) detectors, charge-coupled device (CCD) detectors, and line-scan detectors. The flat-panel detectors (FPDs) segment is expected to grow at the highest CAGR during the forecast period.
The X-ray detectors market is highly consolidated in nature with several big and emerging players. Prominent players in this market include Varex Imaging Corporation (US), Thales Group (France), Canon, Inc. (Japan), Konica Minolta, Inc. (Japan), Hamamatsu Photonics K.K. (Japan), Teledyne DALSA Inc. (US), Fujifilm Holding Corporation (Japan), Agfa-Gevaert Group (Belgium), Carestream Health (US), Vieworks Co., Ltd (South Korea), Analogic Corporation (US), and Rayence (South Korea).
These players have adopted various strategies such as acquisitions, partnerships, collaborations, and product launches to further expand their presence in the global X-ray detectors market. Acquisitions were the key growth strategies adopted by top players such as Varex Imaging Corporation (US), Canon, Inc. (Japan), Konica Minolta, Inc. (Japan), and Agfa-Gevaert Group (Belgium) from 2016 to 2018.
“Varian Medical Systems dominated the X-ray detectors market in 2018. The company has managed to create a unique identity in this market due to its robust product portfolio and large geographic presence. “
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Based on region, the market has been segmented into North America, Europe, Asia, and the Rest of the World (RoW). The X-ray detectors market in Asia is expected to grow at the highest CAGR during the forecast period. The high growth in this market is attributed to the increasing adoption of digital imaging systems, rising disposable income, growing number of awareness programs and symposia, and growing venture capital investments.
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