CAGR: 5.7%Current Market Size: 6.50 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2022-2029Base Year: 2021
The Global X-Ray Detectors market is expected to grow from USD 6.50 billion in 2021 to USD 10.12 billion by 2029, at a CAGR of 5.7% during the Projection period 2022-2029. 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 defence.
The most traditional and often employed type of medical imaging is X-ray technology. Ionizing radiation from X-rays is absorbed by the patient's internal organs after passing through the patient's body. Using high resolution radiations, X-rays have been used for non-invasive imaging of biological objects. X-rays offer a wide range of uses, including structural imaging of bones, finding soft tissue cavities, and comparing metal implants before and after surgery. The use of X-rays is growing because of technological advancements and new methods including fluorescent X-rays, copper wires, radiation dosage monitoring, improved LED displays, and 3D X-rays, which have completely changed how X-ray imaging is done. These developments have expanded the use of X-rays for structural and functional monitoring. These developments have expanded the use of X-rays for structural and functional monitoring. These methods enhance X-rays' capacity to examine intricate bodily systems and identify various diseases. These developments allow for in situ biochemistry research.
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Market Dynamics:
Drivers:
The leading cause of death both internationally and in the United States continues to be heart disease. According to the Centers for Disease Control and Prevention, a fatal heart attack happens once every 40 seconds (CDC). New surgical procedures and medical technology are establishing more efficient nutritional and pharmaceutical treatments. Caregivers may support early detection and intervention techniques with the use of developments in cardiac imaging. The global scientific and medical community is battling heart disease in a number of ways, including by developing cutting-edge surgical procedures, medical technology, and improved nutritional and pharmacological treatments. To effectively combat the heart disease pandemic, medical personnel may benefit from advancements in medical imaging. Due to sophisticated medical imaging, which provides previously unachievable views of the heart and vascular system, doctors can now see in 3D. These advancements are improving medical experts' diagnostic and prognostic abilities, enabling them to better support patients who are suffering from heart failure as well as identify and assess cardiac abnormalities much sooner.
Restraints:
Airport security is ensured with full-body scanners, which create a digital, stripped image of each person boarding an aircraft. This makes sure that none of the passengers are in possession of any chemicals or dangerous goods. However, excessive X-ray exposure can exacerbate genetic illnesses, raise the risk of cardiovascular and cancer disorders, and result in foggy eye lenses. Some European countries forbid the use of X-ray detectors at airports, which is predicted to impede market revenue development. The global scarcity of radiologists is one of the major issues in healthcare. The absence of this skill set is a crucial factor in the rising issues in pulmonary healthcare. The market's projected revenue growth is being hampered by this.
Opportunities:
Healthcare spending is rising quickly in a number of developing nations, notably China and India. It is anticipated that access to high-quality healthcare would increase in Brazil and Mexico. This is viewed as a positive development for the market for X-ray detectors. The demand for various X-ray detection methods and technologies is rising as a result of the growing incidence of cardiovascular disease and breast cancer in these nations. Additionally, these nations' governments are aiming to expand access to high-quality healthcare services for a larger section of their populations while simultaneously enhancing reimbursement coverage. In these nations, the desire for affordable healthcare services and the rapid increases in per-capita healthcare spending are fueling the expansion of healthcare products, including X-ray equipment. The overall increase in healthcare expenses serves as evidence of this.
Challenges:
The COVID-19 epidemic affected the market for X-ray detectors in both good and bad ways. It decreased sales for security, dentistry, and industrial applications while increasing them for fundamental medical and therapeutic ones. The diagnosis and management of COVID-19 benefited greatly from radiology. Hospitals, clinics, and outpatient imaging facilities were severely impacted by the COVID-19 pandemic due to a drop in surgeries and other non-emergency operations. Healthcare facilities have occasionally been shuttered, and non-emergency operations have been postponed. Since many hospitals, clinics, and outpatient imaging facilities cut down on their capital purchases of imaging equipment from OEMs as a consequence, there was less of a demand for X-ray imaging components in the first few months of FY 2020.
Segmentation Analysis:
The global X-Ray Detectors market has been segmented based on type, panel size, portability application, end user and regions.
By Type
The Type segment includes Flat Panel Detector, Computed Radiography Detectors, Line Scan Detectors, Charged Coupled Device (CCD) Detectors and Mobile Detectors. The Flat Panel Detector segment led the largest share of the X-Ray Detectors market with a market share of around 30.3% in 2021. In the upcoming years, it is anticipated that the FPDS market will expand due to the advantages of FPDs, including simpler positioning during clinical studies, a lack of geometric distortion and chemical processing, uniform response across the field of view, and sensitivity to temperature changes with better patient access. Other significant drivers of the FPDS market expansion are the falling cost of FPDS and the expanding use of retrofit FPDS.
By Panel size
The panel size segment includes Small Area and Large Area. The Large Area segment led the X-Ray Detectors market with a market share of around 53.08% in 2021. An significant consideration while doing a radiography process is the detector's size. For these treatments, the ideal detector should have a sizable image area and be light in both volume and weight. Generally speaking, large-area FPDS are employed in radiography applications (the largest application area for X-ray detectors). Large-area FPDS are used in these applications to photograph the whole radiation-exposed region and provide higher-quality pictures.
By Portability
The portability segment includes Fixed Detectors and Portable Detectors. The Portable segment led the X-Ray Detectors market with a market share of around 60.08% in 2021. The cause of this increase is the ageing population in important regions like North America and Europe. The population segment above the age of 65 would be seven times greater than it is currently if there were excellent medical facilities that could increase human life expectancy by a factor of seven. As the older population rises, better technological advancements will increase the need for portable x-ray detectors.
By Application
The application segment includes Medical Imaging, Dental Application, Security Application, Veterinary Application and Industrial Application. The Medical segment led the X-Ray Detectors market with a market share of around 23.04% in 2021. The market for medical applications is expanding as a result of factors such the ageing population, an increase in orthopedic, mammography, and cardiovascular operations, and technical developments in X-ray machines.
By End-use
The end-use segment includes Hospitals, Diagnostic Laboratories, military & defense, Original Equipment Manufacturers (OEM'S), Clinics and ICU. The Large Area segment led the X-Ray Detectors market with a market share of around 20.04% in 2021. The increased need for sophisticated X-ray detectors for explosion detection is likely to cause the military & defence industry to have considerable revenue CAGR growth. It could be challenging to find explosives using standard x-ray techniques, for instance, if they are tucked away inside electronics and other items. The most recent work produced by teams at University College London (UCL) is quite encouraging. It combines cutting-edge X-ray imaging with AI and has tremendous promise for Non-Destructive Testing (NDT) applications, such as fracture detection and the exceedingly challenging problem of risk identification in hand baggage.
Global X-Ray Detectors Market- Sales Analysis.
The sale of X-Ray detectors market expanded at a CAGR of 5.7% from 2021 to 2029.
Due to increased focus on non-invasive or minimally invasive diagnostic procedures, an increase in chronic disease cases, and other macroeconomic reasons including an increase in per capita health care spending, the number of radiography tests performed each year is rising quickly. Additionally, a sizable patient pool receives diagnostic imaging tests each year due to an increased occurrence of cancer and sports injuries, particularly in developing nations.
According to the WHO 2020 report, low- and middle-income nations accounted for more than 30% of cancer cases. In 2020, there would be over 19.3 million new cases of cancer and almost 10.0 million cancer deaths, according to GLOBOCAN 2020. They need medical imaging to diagnose their illnesses, including cancer. Additionally, over 35.0 million imaging tests were reported in England between January 2020 and December 2020, according to National Health Services (NHS). 3.0 million imaging tests out of those were said to have been performed in December 2020.
For instance, Varex Imaging Corporation successfully acquired Direct Conversion AB in April 2019. Direct Conversion AB offered cutting-edge linear array digital detector devices for imaging systems utilised by a variety of global medical and industrial customers. Varex Imaging Corporation also purchased PerkinElmer, Inc.'s Medical Imaging division earlier in May 2017.
Thus, owing to the aforementioned factors, the global X-Ray Detectors Market is expected to grow at a CAGR of 5.7% during the Projection period from 2022 to 2032.
By Regional Analysis:
The regions analyzed for the X-Ray Detectors market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North America region dominated the X-Ray Detectors market and held the 39.1% share of the market revenue in 2021.
Global X-Ray Detectors Market- Country Analysis:
Germany's X-Ray Detectors market size was valued at USD 16.38 billion in 2021 and is expected to reach USD 24.29 billion by 2029, at a CAGR of 5.3% from 2022 to 2029.
Due to a rise in the number of persons with various injuries, the region is doing more testing. According to Eurostat, accidents claimed the lives of more than 1,46,000 individuals in 2016, accounting for around 3.2% of all fatalities in Europe. Because of this, there is a growing need for medical x-ray detectors to identify or assess the severity of injuries and deliver appropriate care.
China X-Ray Detectors market size was valued at USD 29.78 billion in 2021 and is expected to reach USD 43.50 billion by 2029, at a CAGR of 5.1% from 2022 to 2029. The market in this area is growing as a result of factors including an ageing population that is more prone to bone fractures and injuries of any type due to a weakened immune system and body. For instance, 28% of the population in Japan in 2020 belonged to the over-65 age group, according to World Bank statistics.
India's X-Ray Detectors market size was valued at USD 5.96 billion in 2021 and is expected to reach USD 9.32 billion by 2029, at a CAGR of 6.0% from 2022 to 2029. This industry is expanding because of the increase in the number of cancer patients in India. In India, there were 13, 24,413 new cancer cases reported in 2020, according to Globocan.
Key Industry Players Analysis:
To increase their market position in the global X-Ray Detectors business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2021-2029 |
Base year |
2021 |
CAGR (%) |
5.7% |
Market Size |
6.50 billion in 2021 |
Projection period |
2022-2029 |
Projection unit |
Value (USD) |
Segments covered |
By Type, By Panel Size, By Portability, By Application, By End-User and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Agfa-Gevaert Group, Varian Medical Systems, Konica Minolta, Inc, Analogic Corporation, Thales Group, FUJIFILM Holdings Corporation, Hamamatsu Photonics K.K, Mirion Technologies, Inc, Varex Imaging Corporation, Canon Medical Systems Corporation, Teledyne Technologies, Inc, and OR Technology - Oehm und Rehbein GmbH. |
By Type |
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By Panel Size |
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By Portability |
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By Application |
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By End-User |
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Regional scope |
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Scope of the Report
Global X-Ray Detectors Market by Type:
Global X-Ray Detectors Market by Panel size:
Global X-Ray Detectors Market by Portability:
Global X-Ray Detectors Market by Application:
Global X-Ray Detectors Market by End use:
Global X-Ray Detectors Market by Region:
North America holds 39.1% share in the global market of medical X-Ray detectors in 2021
Global X-Ray Detector market is expected to reach USD 10.12 billion by 2029, at a CAGR of 5.7% from 2022 to 2029.
Leading market players active in the global X-Ray Detectors market are BW Group, Dorian LPG Ltd., EXMAR, Hyundai Heavy Industries Co., Ltd, Kawasaki Heavy Industries, Ltd, Mitsubishi Heavy Industries, Ltd., Namura Shipbuilding Co., Ltd., PT Pertamina (Persero), StealthGas Inc., The Great Eastern Shipping Co. Ltd., Teekay Corporation among others.
United States, Germany, United Kingdom, Japan, and France.
Political Factors- The political section focuses on how governments influence business. Tax regulations, adjustments to trade taxes and limitations, and political stability are all included in this segment. An element of the political environment that has significant ramifications for a wide range of organisations is immigration policy. It has been strongly discussed how to handle illegal immigration from Mexico into the United States. According to some hospital executives, illegal immigrants burden the healthcare system because they frequently lack the financial means to pay for healthcare and because hospitals are unable to bar them from emergency rooms due to legal restrictions. For instance, While the use of child labour was historically widespread in the United States, businesses now suffer political backlash when they utilise foreign suppliers who use child labour.
Economical Factors- The focus of the economic section is on the financial framework that businesses must function in. It takes into account variables including interest rates, inflation rates, GDP, unemployment rates, levels of disposable income, and the overall expansion or contraction of the economy. Numerous organisations have been severely harmed by the economic crisis of the late 2000s. Consumers were less likely to spend money on luxury items like televisions and cars when unemployment rates rose. During the financial crisis, bank failures caused a severe tightening of the lending markets. For instance, the demand for new homes fell precipitously as a result of the exceedingly challenging lending market, which was a big blow to home builders. For instance, China's GDP is significantly greater than the United States', but it has grown at a much faster rate recently.
Social Factor- Social segment changes can occasionally result from unforeseen causes. The majority of the American workforce was male before World War II. However, businesses were forced to largely rely on female employees when millions of men were dispatched to Europe and Asia to fight in the war. Many executives at the time had disgusting attitudes toward women. These terrible prejudices were refuted by the enormous sacrifices that women made to the military effort. Although assembling ships, planes, and other military equipment was primarily done by women, many male executives had their opinions about what women were capable of in the workplace if given the chance transformed as a result of their work. Even if there are still employment inequities, men today have far more progressive attitudes toward women than they had in 1943.
Technological Factors- The technological segment is focused on enhancing the goods and services offered by science. Examples of pertinent variables include shifts in the pace of new product creation, rises in automation, and improvements in the provision of services. The rapid speed of technical advancement is one distinguishing aspect of the modern period. With the introduction of new technologies by market players engaged in marketing and creating fluoroscopy devices and C-arms among end user segment, the need for medical X-ray detectors is rising. Suppliers are putting their efforts into creating systems with improved coverage, mobility, usability, and system size. The use of AI in medical equipment will also increase product sales. For instance, GE Healthcare released a ground-breaking imaging innovation that will advance healthcare in the future in November 2020, as well as expanding its range of AI products and the Edison ecosystem.
Environmental Factors- The physical environments in which organisations function are covered in the environmental sector. It takes into account elements including weather patterns, pollution levels, and natural disasters. When they're out their everyday lives, everyone on the world is exposed to a certain amount of radiation. The air, soil, water, rocks, and flora all contain naturally occurring radioactive material. For most people, radon is the main natural radiation source. The Earth is also continuously exposed to cosmic radiation, which includes X-rays. Although these rays are not innocuous, they cannot be avoided, and because they are present at such low doses, their effects are essentially undetectable.
Legal Factors- The legal section focuses on how the courts affect commercial activity. Employment rules, health and safety requirements, discrimination legislation, and antitrust laws are a few examples of crucial legal considerations. For many firms, the legal sector presents a particularly intimidating challenge in the area of intellectual property rights. Intellectual property is produced when a movie studio like Pixar makes a film, a software company like Adobe updates a programme, or a video game developer like Activision creates a new game.
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