X-Ray Detector Market Scenario:
The global X-ray detector market size was valued at $5.12 billion in 2019, and is projected to reach $8.87 billion by 2027, registering a CAGR of 6.4% from 2020 to 2027.
X-ray is a form of electromagnetic radiation that has high energy and can pass through most objects, including body. Among many applications of X-rays such as veterinary, medical, dental, industrial and security, it is most widely used in medical imaging to create images of tissues and structures inside the body. For medical imaging, an X-ray beam is passed through the body where a portion of X-rays is either absorbed or scattered by internal structures, and the remaining X-ray pattern is transmitted to a detector. X-ray detectors are devices that are used to measure flux, spatial distribution, spectrum, and other properties of X-rays. The most common methods of X-rays in medical imaging include X-ray radiography, computed tomography (CT), mammography, and angiography. X-ray radiography can be used to detect or diagnose bone fractures; infections such as pneumonia; and calcifications including kidney stones. Moreover, technological advancements in radiography has brought wide-scale adoption of digital radiography in all relevant industries.
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COVID-19 Impact Analysis:
COVID-19 has diverted stimulus funds to diagnostic X-ray systems to help facilitate much needed diagnostic imaging facilities, resulting in a higher than expected upliftment in the radiography market. Chest X-ray is often the first imaging exam acquired after a positive reverse-transcription polymerase chain reaction (RT-PCR), if a patient is at the risk for disease progression. In addition, mobile digital radiography (DR) systems are at the forefront in providing an initial screening for pneumonia and secondary and more progressive stage of severe COVID-19 cases. Moreover, for emerging countries, mobile DR systems provide imaging capabilities for diagnosis of COVID-19, owing to their increased affordability compared to CT systems. Hence, surge in demand for digital X-ray radiography is expected to have a positive impact from the COVID-19 pandemic.
North America acquired a major share of the market, owing to presence of key players that offer popular X-ray detectors in the region, well-established healthcare facilities, growth in number of medical imaging procedures, favorable reimbursement policies, rise in threats of terrorism, large focus on product quality & non-destructive testing, and growth in adoption of pets & animal farming. However, Asia-Pacific is expected to grow at the fastest rate during the forecast period, owing to increase in healthcare expenditure, growth in medical tourism, rise in adoption of technologically advanced X-ray imaging products, presence of large geriatric population, and focus on skill development in the region, which also offers lucrative opportunities for the X-ray detector market.
Top Leading Players:
The report provides a comprehensive analysis of the key players operating in the global X-ray detector market, namely Agfa-Gevaert N.V., Analogic Corporation (Altaris Capital Partners, LLC), Canon, Inc., Carestream Health, Inc., Comet Holding (YXLON International GmbH), Detection Technology Plc., Fujifilm Holdings Corporation (Fujifilm Medical Systems), General Electric, Konica Minolta Holdings Inc.,