New York, USA, Sept. 26, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global X-ray detectors market is envisioned to generate a revenue of $7,426.5 million and grow at a CAGR of 4.60% throughout the analysis timeframe from 2021 to 2028.
As per our analysts, with the increasing demand for X-ray detectors among orthopedic doctors to obtain clear images for understanding injury, the X-ray detectors market is predicted to experience a remarkable growth during the estimated period. Besides, the emergence of x-ray detectors in the industrial application by leading market players to grab more customers is further expected to uplift the growth of the market over the analysis period. Moreover, the growing trends of artificial intelligence in X-rays are predicted to fortify the growth of the market throughout the forecast period. However, the higher cost of X-ray detectors may impede the growth of the market during the estimated timeframe.
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Covid-19 Impact on the X-ray Detectors Market
Though the outbreak of the Covid-19 pandemic has devastated several other industries, it has had a positive impact on the X-ray detectors market. This is mainly due to the rapid increase in the use of chest x-rays to properly diagnose the presence of the coronavirus. Moreover, the incidences of pneumonia in the lungs have increased during the pandemic period which has skyrocketed the importance of x-ray detectors during the pandemic period. In addition, several other kinds of research were taking place to help the society recover from the crisis has increased the investment opportunities for the market.
Segments of the X-ray Detectors Market
The report has divided the market into segments based on type, application, and region.
Type: Flat Panel Detectors Sub-Segment to be Most Productive
The flat panel detectors type sub-segment is expected to generate a revenue of $2,713.10 million during the forecast period. This is mainly due to the advantages of flat panel detectors over all other types of detectors. Moreover, the continuous adoption of strategic collaborations by leading market players to offer the best type of x-ray detectors to customers is predicted to fuel the growth of the market sub-segment during the analysis timeframe.
Application: Medical Application Sub-Segment to be Most Profitable
The medical application sub-segment is projected to garner a revenue of $3,045.90 million over the estimated period. This is mainly because of the increasing number of patients suffering from cardiovascular, dental, orthopedic, and various other diseases. Furthermore, the increasing cases of cancer among individuals all across the globe are predicted to propel the growth of the market sub-segment during the forecast timeframe.
Region: North America Region to Hold the Largest Share of the Market
The North America region of the X-ray detectors market is predicted to generate a revenue of $2,606.70 million throughout the analysis timeframe. This is mainly due to the strong existence of a leading provider of X-ray detectors in this region. Moreover, the increasing budget allocation for research and development activities by the leading companies and research institutions of this region is predicted to drive the regional growth of the market during the estimated period.
Key Players of the Market
The major players of the X-ray detectors market include
- Canon, Inc.
- Carestream Health, Inc.
- Rayence Inc.
- Thales Group
- Fujifilm Holdings Corporation
- General Electric
- Analogic Corporation
- Koninklijke Philips N.V
- Toshiba
- Siemens AG
These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to acquire a leading position in the global industry.
For instance, in March 2021, Lunit, a venture company devoted to developing advanced software for medical data analysis and interpretation announced its collaboration with Phillips, a health technology company improving people's health and well-being through meaningful innovation. With this collaboration, Lunit aimed to incorporate its chest detection suite with Phillip’s AI portfolio in precision diagnosis. This improved the experience of patients and staff and reduced the cost of care.
Further, the report also presents other vital aspects including SWOT analysis, the financial performance of the key players, product portfolio, and the latest strategic development.
More about X-ray Detectors Market:
- Medical X-Ray: Applications, Types, Merits and Demerits
- Global X-ray Detectors Market to Experience Accelerating Growth by 2028, Due to Introduction of Smart and Effective X-ray Devices
