Global X-Ray Detector Market is expected to reach USD 3,899.3 million by 2025 from USD 2,391.8 million in 2017, at a CAGR of 6.3% in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Segmentation: Global X-Ray Detector Market
Global X-Ray Detector Market By Type (Flat-Panel Detectors, Computed Radiography (CR) Detectors, Line-Scan Detectors, Charge Couple Device (CCD) Detectors), By Application (Medical Applications, Dental Applications, Security Applications, Veterinary Applications, Industrial Applications), By End User (Hospitals, Diagnostic Laboratories, Original Equipment Manufacturers (OEM’s), Clinics, ICU),And By Geography (North America, Europe, Asia Pacific, South America, Middle East And Africa)– Industry Trends and Forecast to 2025
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Drivers: Global X-Ray Detector Market
The major factors contributing to the growth of the market includes factors such as growing geriatric population and chronic diseases, growing government initiatives, declining prices and benefits offered by digital detectors, and reimbursement cuts for analog x-rays.
GROWING GERIATRIC POPULATION AND CHRONIC DISEASES
- With the growing geriatric across the world is leading to the increase in the prevalence of chronic diseases such as arthritis, cancer, respiratory diseases, metabolic disorders, orthopaedic, cardiovascular, and other age-related diseases. With this increasing age and rising prevalence of chronic diseases the demand for early diagnosis of the diseases is also increasing. Also, with the growing population the pressure on the healthcare system is also increasing with which the demand of care, services and technologies is rising to prevent and treat chronic diseases at the old age. Therefore, the demand for advance medical devices such as digital X-ray detector is rising for the diagnosis and treatment in the healthcare system worldwide.
GROWING GOVERNMENT INITIATIVES
- Healthcare systems in various countries across the world are under pressure owing to the increasing patient pool and rising healthcare costs. In such situation, the effective use of advanced equipments like digital X-ray systems can be valuable for healthcare providers as these systems can screen a larger volume of patients at a lower cost with accurately diagnosis of various diseases. With increasing pressure for the early diagnosis of disease government organizations from various regions and countries are putting making significant investments for increasing the adoption of digital X-ray equipments in various healthcare systems.
- For instance, in January 2016, Innovate UK announced to provide grant of USD 110.6 thousand (GBP 98 thousand) to IBEX Innovations Ltd. (UK) to investigate the use of its novel X-ray imaging technology based on multi-absorption plate (MAP) X-ray detector technology in angiography procedures. Also, in August 2015, Canadian government invested USD 840,000 for the installation of two digital x-ray systems at the Western Hospital and Community Hospital O’Leary in the West Prince district of Canada.
DECLINING PRICES AND BENEFITS OFFERED BY DIGITAL DETECTOR
- Digital X-ray detectors offer various advantages over the conventional X-ray systems. They provides numerous advantages including the high-quality image acquisition in a shorter time period, reduced radiation exposure (by 90%), and easy image interpretation. It also saves times as conventional X-ray takes around 15 minutes per examination whereas the digital X-ray system needs approximately 2 minutes per screening. As a result, large volume of patients can be screened in a short period of time. Along with this, digital X-ray systems eliminate the need for X-ray films and chemicals which are required in analog X-rays and reduce the overall cost of procedure as well.
- The prices of flat panel detectors (FPDs) are also declining because of digitization in the industry. Over the last few years, the cost of FPDs has reduced significantly, from USD 100,000 to USD 10,000 – USD 60,000. The cost of FPDS is further expected to fall by 5% to 10% annually during the forecast period. As a result, the market is expected to witness a growth in the demand for the retrofit X-ray systems, which essentially are existing conventional X-ray equipment that are fitted with FPDs to increase their lifecycle. This reduced cost of FPDs will contribute to the growth of the x-ray detector market.
Major Players: Global X-Ray Detector Market
Some of the major players operating in this market are Varex Medical, PerkinElmer Inc.Amptek, Inc., Moxtek, INC., Rigaku Corporation, Teledyne Dalsa, Detection Technology OYJ, Thales Group, Fujifilm Holdings, and Agfa-Gevaert Group among others.
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