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™.
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X-Ray Detectors Market Dynamics
Drivers
· Expanding applications of X-ray detectors
· Investments to advance healthcare facilities and digital imaging technologies
· Rising target patient population
· Rising prevalence of animal diseases and growing number of veterinary practitioners
· Growing demand for cosmetic dentistry
· Escalating demand for X-ray-based solutions in airports
Restraints
· High cost of X-ray detectors
· Health hazards of full-body scanning
Opportunities
· Rising healthcare expenditure across emerging economies
· Technological advancements
Challenges
· Lack of animal healthcare awareness in emerging countries
· Increasing adoption of refurbished X-ray units
· Hospitals budget cuts
North America is expected to be the largest market in the x-ray detectors industry during the forecast period.
North America, comprising the US and Canada, accounted for the largest share of the X-ray detectors market in 2022. The growth of the X-ray detector market in North America is propelled by several factors, including the rising number of target diagnostic and interventional procedures conducted in the region, a high prevalence of diseases, an increasing geriatric population, and the widespread availability of advanced interventional products, including microcatheters.
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.
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.
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