X-Ray Detectors Market Worth $4.2 billion | MarketsandMarkets™

CHICAGO, March 15, 2024 /PRNewswire/ -- X-Ray Detectors Market in terms of revenue was estimated to be worth $3.1 billion in 2023 and is poised to reach $4.2 billion by 2029, growing at a CAGR of 5.0% from 2023 to 2029 according to a new report by MarketsandMarkets™. The market is experiencing growth driven by increased investments in the enhancement of healthcare facilities and digital imaging technologies. The demand for early diagnosis is on the rise, leading to an expanded scope of clinical applications for X-ray detectors. Additionally, the prevalence of chronic disorders requiring prompt examinations is increasing, compounded by the growing trend of sedentary lifestyles.

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X-Ray Detectors Market Scope:

The Flat-panel detectors segment is to register significant growth rate over the forecast period of 2023-2029.

Based on the technology, the global X-Ray Detectors Market is categorized based on technology, including Flat Panel Detectors, Computed Radiography Detectors, Line-Scan Detectors, and Charged Coupled Detectors. The flat-panel detector segment is anticipated to experience the most significant growth rate during the forecast period. Computed Radiography detectors hold the second-largest share in the X-Ray detectors market.

The medical applications segment accounted for the largest share of the x-ray detectors market, by application in 2023.

Based on application, the X-ray detectors market is divided into various segments, including medical applications, dental applications, security/defence applications, veterinary applications, industrial applications, and other applications. In 2024, the medical applications segment held the largest market share and is projected to exhibit the highest CAGR throughout the forecast period. This dominance is attributed to factors such as the increasing incidence of disorders requiring pre-diagnostic screening and notable advancements in medical technology, both contributing significantly to the substantial share in this category.

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

Based on region, Asia Pacific X-Ray Detectors Market is anticipated to register the highest growth from 2023 to 2029. Major players in the market are focusing on expanding their manufacturing capabilities in the APAC. The region is witnessing a consistent rise in the uptake of advanced equipment. Significant growth prospects for key players are being fueled by improvements in healthcare systems and government initiatives focused on the modernization of healthcare infrastructure.

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X-Ray Detectors Market Dynamics:

Drivers:

1. Investment to advance healthcare facilities & digital imaging Technologies

Restraints:

1. High cost of X-ray detectors

Opportunities:

1. Rising healthcare expenditure across developing countries

Challenge:

1. Lack of animal awareness in emerging and developing countries

Key Market Players of X-Ray Detectors Industry:

As of 2022, prominent players in the X-ray detectors market are Varex Imaging Corporation (US), Thales Group( France), Canon( Japan), Fujifilm Corporation (Japan), Agfa-Gevaert Group (Belgium) and Teledyne Technologies(US), and among others.

A breakdown of the primary participants referred to for this report is provided below:

• By Company Type: Tier 1–48%, Tier 2–36%, and Tier 3–16%
• By Designation: Director-level– 14%, C-level–10%, and Others–76%
• By Region: North America– 40%, Europe– 32%, Asia Pacific–20%, Latin America-5%, Middle East and Africa-3%

Recent Developments of X-Ray Detectors Industry:

• In May 2023, Varex Imaging Corporation launched the XRD 3131N digital X-ray detector to cater to the rising demand for expedited and more extensive inspections within the rapidly evolving Electric Vehicle (EV) battery manufacturing sector. This enhances the company's existing portfolio for the EV battery inspection market.
• In July 2022, Canon Inc. launched the CXDI-Elite series of wireless digital radiography (DR2) devices, including the CXDI-720C Wireless sensor unit, to markets outside of Japan. These devices aim to enhance user-friendliness across various imaging scenarios while delivering superior image quality to facilitate more accurate diagnostics.
• March 2021, At ECF 2021, the Thales unveiled the Pixium 3040F, featuring enhanced image quality, optimized spatial resolution, increased contrast, and superior sensitivity at lower radiation doses.

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X-Ray Detectors Market - Key Benefits of Buying the Report:

The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall x-ray detectors market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

This report provides insights on the following pointers:

• Analysis of key drivers (increasing demand for early diagnosis and widening scope of clinical applications of x-ray detectors, investments to advance healthcare facilities & digital imaging technologies, rising target patient population, rising prevalence of animal diseases and growing number of veterinary practitioners, escalating demand for x-ray-based security enhancement solutions at airports), restraints (high cost of x-ray detectors, health hazards of full body scanning), opportunities (rising healthcare expenditure across developing countries technological advancements), challenges (lack of animal healthcare awareness in emerging countries, increasing adoption of refurbished x-ray units, increasing adoption of refurbished x-ray units) influencing the growth of the x-ray detectors market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the x-ray detectors market
• Market Development: Comprehensive information about lucrative markets–the report analyses the x-ray detectors market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the x-ray detectors market
• Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.

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