(PharmaNewsWire.Com, July 12, 2021 ) 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.
Factors such as declining prices and benefits offered by digital detectors, growing public and private investments in Digital Imaging technologies and reimbursement cuts for analog X-rays are driving the growth of the X-ray detectors market.
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.
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.
Data Triangulation
After arriving at the overall market size from the market size estimation process, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Recent Developments
> In May 2017, Varex Imaging Corporation acquired PerkinElmer's medical imaging business to expand its digital flat-panel detectors business. > In December 2016, Canon Inc. acquired Toshiba Medical Systems Corporation to enhance its position in the healthcare industry.
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), Teledyne DALSA Inc. (US), Fujifilm Holdings Corporation (Japan), Carestream Health (US), Vieworks Co., Ltd (South Korea), Thales Group (France), Canon, Inc. (Japan), Konica Minolta, Inc. (Japan), Agfa-Gevaert Group (Belgium), Analogic Corporation (US), Rayence (South Korea), and Hamamatsu Photonics K.K. (Japan).
In 2019, North America is expected to account for the largest share of the X-ray detectors market, followed by Europe, Asia, and the RoW. The large share of this region is attributed to factors such as availability of venture capital and government funding, technological innovations, increasing healthcare spending and increasing incidence of chronic diseases.
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