USD 3.08 billion
Report ID:
SQMIG35A2191 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
141 |
Figures:
80
X-Ray Detector Market size was valued at USD 3.08 billion in 2022 and is poised to grow from USD 3.27 billion in 2023 to USD 5.25 billion by 2031, growing at a CAGR of 6.10% during the forecast period (2024-2031).
Over the forecast period, the market revenue is expected to expand as a result of growing technical innovation, the introduction of efficient x-ray equipment, and rising demand from a variety of end-use industries, including the military and defense. The only picture types that conventional x-ray detectors can capture are flat, rectangular 2D forms. Currently, 3D digital x-ray imaging is widely used in both the medical and industrial domains. Applications in the mechanical field include inspection, such as discovering hairline cracks or leaks in pipelines, aircraft, and military equipment. Flex processing, a common imaging method, has been used in the past by scientists to capture images of atypical objects.
In the upcoming seven years, market development is anticipated to be sparked by factors such as declining prices, improved image quality as a result of technological innovation, and a strong commitment from venture capital companies to provide funding. Additionally, the aging population, rising radiography system awareness, supportive government initiatives, and significant investment in R&D are important factors anticipated to propel the worldwide x-ray detectors market throughout the forecast period. Due to the ongoing development of wireless x-ray detectors and the rising medical tourism in these countries, developing countries like China, Brazil, and India are predicted to have profitable growth. The expansion of this market is also predicted to be fueled by increased disposable income, an increase in joint injuries, and a desire for early illness detection.
US X-Ray Detector Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 3.08 billion
Largest Segment
Flat Panel Detectors
Fastest Growth
Computed Radiography Detectors (CRD)
Growth Rate
6.10% CAGR
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The market for X-ray detectors is divided into categories based on product type, panel size, modality, module, application, and geography. By product type, the market is segmented into indirect flat panel detectors, direct flat panel detectors, computed radiography (CR) detectors, line scan detectors, and charge coupled device (CCD) detectors. By panel, the market is segmented into large area flat panel detectors and small area flat panel detectors. By modality, the market is segmented into portable detectors and fixed detectors. By module, the market is segmented into new digital X-ray systems and retrofit x-ray systems. By application, the market is segmented into dental, security, industrial, and veterinary. By region, the market is segmented into North America, Asia-Pacific, Europe, Latin America, and the MEA.
Analysis by Product
The flat panel detectors (FPD) category is anticipated to see the greatest CAGR among all product types over the projected period. In digital radiography (DR), flat panel detectors are utilized to convert X-rays into light (indirect conversion) or charge (direct conversion), which is then decoded using a thin film transistor (TFT) array. FPD are utilized in a number of extraoral imaging devices as well as medical imaging (CT, X-ray, and mammography).
Analysis by Application
According to application, the market for X-ray detectors is anticipated to be dominated by the medical applications segment in 2022. Due to its simple availability, low cost, and improved performance for imaging interior body parts to diagnose and cure fractures, anomalies, or illnesses, X-ray detectors have a high market share in the healthcare industry. But over the projection period, the security category is anticipated to have the greatest CAGR. X-ray detectors are used for a variety of security purposes, including people screening, port and border protection, vehicle screening, luggage screening, mail and package screening, and air cargo screening (body scanning). In order to protect the common person, airports utilize X-ray screening devices to stop deadly assaults and the admission of those carrying weapons or prohibited objects. The need for security X-ray screening equipment is anticipated to rise as the number of passengers increases.
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North America is anticipated to have the largest market share for X-ray detectors globally in 2021. The significant market share of this sector is primarily attributable to developments in the healthcare sector, higher healthcare expenditures, the adoption of cutting-edge science and technology, favorable reimbursement scenarios, a higher prevalence of chronic diseases and a growing geriatric population, and the presence of major players in the area. Additionally, the rising number of a-Si X-ray flat panel detectors offered by market participants for dental CBCT applications, such as the 1308DX / 1313DX (Varex Imaging Corporation) are increasing the adoption rate of flat panel detectors by healthcare providers in the United States and Canada for dentistry applications. The number of dental CBCT scans performed in the United States each year is increasing. Throughout the forecast period, this aspect is anticipated to fuel the market in the area.
But over the anticipated time, Asia-Pacific is anticipated to see the quickest rate of growth. The huge aged population suffering from chronic diseases, rising income levels improving access to healthcare facilities, government measures to support the healthcare industry, and increasing uptake of cutting-edge medical technology are all factors in Asia-rapid Pacific's market expansion. The region's X-ray detector market is anticipated to grow over the course of the forecast period as a result of developed nations' expanding corporate alliances and well-established healthcare infrastructure. The launch of new products in China and Japan as well as aggressive marketing strategies used by regional market leaders to obtain a competitive edge are expected to drive market expansion in Asia Pacific over the course of the forecast period.
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Drivers
Increased Investment in Healthcare Infrastructure to Boost Demand for X-Ray Detectors in Global Market
Restraints
Health Risks Associated with Exposure to X-Ray can Hinder Market Growth
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Players put a lot of effort into implementing different tactics to broaden their creative product offerings and boost their global geographic presence. The product portfolio for X-ray detectors is being expanded across regions through mergers and acquisitions and other tactics being used by important competitors. The global market for X-ray detectors is projected to grow as a result of technological developments and a quicker acceptance of X-ray detectors throughout the industrial and security sectors. as in a new video imaging technology called the ELUXEO 7000X System, developed to enable real-time visualization of hemoglobin oxygen saturation (StO2) levels in tissue using laparoscopic and/or endoluminal imaging, will be commercially released in August 2021 by FUJIFILM Medical Systems U.S.A., Inc., a leading provider of endoscopic and endosurgical imaging technology.
Top Player's Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 3.08 billion |
Market size value in 2031 | USD 5.25 billion |
Growth Rate | 6.10% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
Recent Developments
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global X-Ray Detector Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global X-Ray Detector Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global X-Ray Detector Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global X-Ray Detector Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Product ID: SQMIG35A2191