CHICAGO, Feb. 4, 2019 /PRNewswire/ -- According to the new market research report "X-Ray Detector Market by Type (FPD, CSI, Gadox, CCD, Line scan), Panel (Small, Large), Portability (Fix, Portable), System (New, Retrofit), Application (Medical, Orthopedic, Mammogram, Dental, Cardiac, Veterinary, Security) - Global Forecast to 2024", published by MarketsandMarkets™, the X-Ray Detector 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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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.
Flat-panel detectors (FPDs) to account for the largest share of the X-Ray Detector Market in 2019
Based on type, the X-Ray Detector 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 Detector 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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Medical applications to register the highest growth in the X-Ray Detector Market during the forecast period.
By application, the X-Ray Detector 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.
North America will continue to dominate the X-Ray Detector Market during the forecast period
In 2019, North America is expected to account for the largest share of the X-Ray Detector 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.
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The X-Ray Detector Market is highly competitive with the presence of several small and big players. Some of the prominent players in the X-Ray Detector 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).
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