X-Ray Detectors Market worth $4.0 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Jan. 17, 2023 /PRNewswire/ -- X-Ray Detectors Market size is projected to reach USD 4.0 billion by 2027 from USD 3.1 billion in 2022, at a CAGR of 5.2% according to a new report by MarketsandMarkets™. Increasing investments in advancing healthcare facilities & digital imaging technologies, growing demand for early diagnosis, and widening scope of clinical applications of X-ray detectors, rising chronic disorders which need quick examinations and increasing sedentary lifestyles are some of the key factors driving market growth.

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X-Ray Detectors Market Scope:

Body Contouring segment to register significant growth rate over the forecast period of 2022-2027

Based on the product type, the global X-Ray detector market is segmented into Flat Panel Detectors, Computed Radiography detectors, Line-Scan detectors, and Charged Coupled detectors. The flat-Panel detector segment is expected to register the highest growth rate over the forecast period. The computed Radiography segment accounts for the second share in the X-Ray detectors market.

Medical applications segment accounted for the largest share of the X-Ray detectors market by Applications in 2021

The medical application segmented accounted for almost 70.1% of the total applications for X ray detectors. The vast share of this segment can be attributed to the factors like increasing disorders where screening is necessary before the diagnosis and increasing technological advancements in medical industry is also one of the reasons for the vast share.

The Asia Pacific market to register the highest growth in the market during the forecast period

The Asia Pacific X-Ray detectors market is projected to register the highest growth during the forecast period of 2022 to 2027. Asia Pacific is registered to grow at the highest CAGR of 6.4%. Moreover, market players also focus on expanding their presence in the APAC healthcare imaging industry and are trying to establish new subsidiaries in the Asia Pacific region to attract huge market which will help them to increase their revenue.

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X-Ray Detectors Market Dynamics:

Drivers:

1.  Increasing demand for early diagnosis and widening scope of clinical applications of X-ray detectors

2.  Investments to advance healthcare facilities and digital imaging technologies

3.  Rising target patient population

4.  Rising prevalence of animal diseases and growing number of veterinary practitioners

5.  Growing demand for cosmetic dentistry

6.  Increasing demand for X-ray-based security enhancement solutions at airports

7.  Reimbursement cuts for analog X-rays

Restraints:

1.  High cost of X-ray detectors

2.  Health hazards of full-body scanning

Opportunities:

1.  Rising healthcare expenditure across developing countries

2.  Technological advancements

Challenges:

1.  Lack of animal healthcare awareness in emerging countries

2.  Increasing adoption of refurbished X-ray units

3.  Hospital budget cuts

Key Market Players:

The X-Ray detector market is moderately competitive, with both established companies and upcoming competitors for the same market share. As of 2021, the key player operating in the global X-Ray detector market are Varex Imaging Corporation (US), Canon Inc. (Japan), Agfa-Gevaert NV (Belgium), FUJIFILM Holdings Corporation (Japan)., Thales Group(France), Teledyne Technologies Incorporated (US), Carestream Health, Inc. (US), Konica Minolta, Inc. (Japan), Rayence (US), Vieworks Co., Ltd (South Korea), Hamamatsu Photonics KK (Japan), iRay Technology (China), CareRay Medical Systems Co. (China) and Analogic Corporation (US).

Recent Developments:

• In November 2022, Varex Imaging Corporation launched the AZURE flat Panel detector in RSNA 2022. The product has faster integration with high speed and low noise for real-time image applications.
• In March 2021, Thales Group launched Pixium 3040F, which has high image quality, optimized spatial resolution, higher contrast, and superior sensitivity at low doses when used in radiotherapy.
• In March 2021, Canon Inc launched XCDI-RF wireless B1, wireless FPD in Japan for radiography and for fluoroscopy purposes.

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