X-ray detectors Market Revenue Size, Trends and Factors, Regional Share Analysis & Forecast Till 2028

X-ray detectors Market
X-ray detectors Market

The global X-ray detectors Market size is expected to reach USD 4.19 Billion by 2028 registering a CAGR of 6.2% over the forecast period, according to a latest report by Reports and Data. Major factor driving market revenue growth are rising technological innovation and the launch of effective x-ray equipment such as filmless imaging machines.

Over the forecast period, the market is expected to register significant growth due to lower prices, improved image quality due to technological advancements, and strong financial backing from venture capitalist firms. Furthermore, the global x-ray detectors market is expected to be driven by an increase in the elderly population base, expanding knowledge about the radiography system, favourable government initiatives, and substantial expenditure in research & development over the projected period.

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The pharma and healthcare industry is expected to observe significant growth over the coming years attributed to the increasing incidence of chronic diseases across the globe, growing geriatric patient pool, availability of advanced and minimally invasive surgical and diagnostics procedures, favorable reimbursement scenario, and presence of a robust product pipeline of drugs and therapeutics. In addition, the growing integration of IoT, ML, and AI in medical procedures and equipment along with rapid progress in drug design and development. A combination of innovation and technology has brought about massive changes in the healthcare industry and the rapid adoption of telemedicine, remote consultation, and e-prescription has significantly contributed to the revenue growth of the market.

Some Key Highlights from the Report:

  • Innovation is driving the growth of x-ray detectors market. For instance, in June 2021, Duke University engineers exhibited a prototype X-ray scanning system that reveals not just an object’s structure but also its chemical makeup. The technique could transform a wide range of industries, including cancer surgery, pathology, drug testing, and geology, owing to its exceptional resolution and accuracy.
  • On the basis of type, the market is segmented as flat-panel detectors, line-scan detectors, computed radiology detectors, and CCD (Charge Coupled Device) detectors. In 2020, the flat panel detector accounted for largest market share due to their widespread use in medical and veterinary application.
  • Of the various panel size segments of the market, small area flat panel detectors segment is expected to register robust revenue growth over the forecast period. This is owing to rapid technological innovation coupled with the growing demand for portable medical devices.
  • In 2020, the medical application segment accounted for the largest x-ray detectors market revenue share owing to the large volume of x-ray procedures. The dental and veterinary segment will register high growth rate over the forecast period owing to increasing incidence of dental disorders and in-vitro testing market.
  • North America x-ray detectors market is expected to account for largest revenue share over the forecast period due to technological innovation and advances in non-invasive medical procedures.
  • Revenue from the Asia Pacific vendor neutral archive market projected to grow at a significantly high CAGR due to the government initiatives for increasing expenditure in the healthcare sector and growing research-based activities.

  Research Methodology:

Reports and Data utilizes a unique approach to research to offer a comprehensive overview of the global X-ray Detectors Market to offer insights into investment opportunities for stakeholders, investors, clients, and businesses to make informed decisions. The report includes SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis to offer a better understanding of the market scenario.

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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.

The growing popularity of over-the-counter medications driving market growth

Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.

Restriction on product launches and R&D activities to hamper the market growth

The imposition of strict government regulations and shortage of funds has put a halt on product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.

  Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.

Top Companies Profiled in the Report:

  • Varex Imaging
  • Trixell
  • Canon
  • Fujifilm Medical Systems
  • Konica Minolta, Inc
  • PerkinElmer, Inc
  • Analogic Corporation
  • Rayence
  • Teledyne Dalsa
  • GE Healthcare
  • Agfa Healthcare
  • Carestream Health
  • Hamamatsu Corporation
  • Vieworks
  • Shanghai Iray Electronics Technology
  • CareRay

  X-ray Detectors Market Segmentation:

In market segmentation by types of X-ray detectors, the report covers:

  • Amorphous Silicon (TFT)
  • CMOS
  • Others

In market segmentation by applications of the X-ray detector, the report covers the following uses:

  • Medical
  • Dental
  • Security
  • Veterinary
  • Industrial

Regional Outlook:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)

  Frequently asked questions addressed in the report:

  • What is the revenue growth rate of the global X-ray Detectors market over the forecast period?
  • What are the major factors driving the growth of the Global X-ray Detectors Market?
  • What are the key challenges impacting the global X-ray Detectors market growth?
  • What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?

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Thank you for reading our report. For more details please connect with us and our team will ensure the report is customized to meet all the needs of clients. The report also offers a comprehensive regional analysis and specific countries can be included in the report according to the requirements.

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