X-Ray Detectors Market worth $3.9 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Oct. 14, 2021 /PRNewswire/ -- According to the new market research report "X-Ray Detectors Market by Technology (Flat Panel, CCD, CR Detector), Application (Medical, Orthopedic, Industrial, Veterinary, Security), FPD (Type (Gadox, CSL, Direct), Portability (Fix, Portable), Platform (Digital, Retrofit)) - Global Forecast to 2026", published by MarketsandMarkets™, the X-Ray Detectors Market is projected to reach USD 3.9 billion by 2026 from USD 2.9 billion in 2021, at a CAGR of 5.9% during the forecast period.
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The Market growth is mainly driven by the growing public and private investments in digital imaging technologies, declining prices and benefits offered by digital detectors, and reimbursement cuts for analog X-rays.
Based on platform type, digital FPDs to account for the largest share of the X-ray detectors market in 2021
Based on platform type, the FPDs market is segmented into digital FPDs and retrofit FPDs. In 2021, the digital FPDS segment to account for a larger share of the FPDS market due to the advantages of new digital X-ray systems, such as high-quality image acquisition, faster scanning, increased patient throughput, and multiple storage options (digital images can be stored using both on-site and off-site PACS), resulting in their greater adoption.
In terms of portability, the portable X-ray detectors register significant growth over the forecast period.
Based on portability, the FPDs market is segmented into fixed and portable detectors. The portable detectors segment is expected to grow at the highest CAGR during the forecast period. Mobile X-ray systems offer advantages such as better image quality, lower radiation dose requirement, shorter screening time, and low weight, resulting in their adoption among end-users increasing. Handheld X-ray systems find extensive applications in dental radiography. Technological advancements and the rising volume of orthopedic and cardiovascular procedures are driving the growth of the portable detectors market.
The static medical applications segment to hold major share of the X-ray detectors market in 2021
Based on application, the X-ray detectors market is segmented into medical, dental, security, industrial, and veterinary applications. The medical applications of X-ray detectors are further categorized into static and dynamic imaging. The need for efficient and outcome-oriented procedures is a key factor driving the market growth.
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North America will continue to dominate the X-ray detectors market during the forecast period
In 2021, 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 2020. Factors such as advancements in healthcare infrastructure, technological advancements, and favorable venture capital funding are expected to fuel the market growth in this region.
The X-ray detectors market is highly competitive with the presence of several small and big players. Some of the prominent players in the X-ray market include Varex Imaging Corporation (US), Thales Group (France), Canon (Japan), Agfa-Gevaert Group (Belgium), FUJIFILM Corporation (Japan), Hamamatsu Photonics K.K. (Japan), Analogic Corporation (US), Carestream Health (US), Detection Technology Plc. (Finland), Konica Minolta, Inc. (Japan), MOXTEK, Inc. (US), Teledyne Digital Imaging Inc. (Canada), JPI Healthcare. Co. Ltd. (South Korea), iRay Technology (China), and Vieworks Co., Ltd. (South Korea).
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