FMI Forecasts a 5.7% CAGR in the Medical X-Ray Detectors Industry to Reach US$ 3.2 Billion by 2029

In 2019, the global Medical X-Ray Detectors Industry crossed the billion-dollar mark and is poised for a bright future. With a 5.7% CAGR, it’s expected to surge from US$ 2.2 billion in 2022 to US$ 3.2 billion by 2029. The medical devices industry is witnessing increased demand due to rising diagnostic tests, driven by factors like a growing focus on radiological diagnostics, the burden of chronic diseases, and innovative X-ray technologies. This growth is further accelerated by the increasing incidence of sports injuries, trauma, and cancer, especially in emerging markets. The surge in CT and radiography tests, with 80 million CT tests performed in the U.S. in 2015, is driving demand for digital radiography detectors like a-Si detectors, contributing to the Medical X-ray detectors Market’s expansion.

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Key Takeaways – Medical X-ray Detectors Market Study

• Adoption of flat panel X-ray detectors in the global medical X-ray detectors market has increased significantly owing to distinct benefits over computed radiography (CR), charged couple detectors (CCD), and analog detectors (film based).
• Introduction of new technology such as Veradius X–ray system by manufacturers is expected to boost demand for thin flat detector devices and computed radiography (CR) detectors among end users.
• Direct flat-panel medical X-ray detectors with comparatively higher technical advantage over indirect flat-panel medical X-ray detectors are expected to generate significant revenue.
• Increasing adoption of digital X-ray systems for radiological imaging as compared to retrofit X-ray systems marks high revenue potential for the medical X-ray detectors market.

Cloud-based medical imaging and growing shift from analog to digital X-ray detectors are key growth opportunities for the medical X-ray detectors market.

Strategic Acquisitions Remains Favored Competition Strategy

Leading players in the medical X-ray detectors market such as GE Healthcare, Canon, Philips, and Hitachi, are focusing on business expansions by entering into partnership, merger, sales agreement and acquisition with local manufacturers from emerging economies. The aim behind these mergers and acquisitions is to reduce the product development cost, streamline the distribution channel, and strengthen the market position.

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In December 2016, Canon Inc. acquired Toshiba Corp. medical unit. With the acquisition, Canon Inc. entered into diagnostics imaging devices market and leverage the core strength of Toshiba Medicals in diagnostic imaging. This acquisition would further strengthen Canon’s biomedical business.

Additionally, key players are focusing on research, development, and launch of new products based on exclusive developmental technologies, with emphasis on product difference. In November 2017, at the Radiological Society of North America (RSNA) tradeshow. Carestream Health showcased a mobile X-ray system with carbon nanotube. The system entered the medical X-ray detectors market in May 2018 and is compatible with every DRX a-Si detector device providers by Carestream Health.

Know More About FMI’s Report on Medical X-ray Detectors Market

Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the segments from 2014 to 2029. The global medical X-ray detectors market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on medical X-ray detectors market on basis of product, panel size, modality, and end user.

Medical X-Ray Detectors Market By CategoryBy Product :

• Indirect Flat-Panel Detectors
• Direct Flat-Panel Detectors
• Computed Radiography (CR) Detectors

By Panel Size :

• Large-Area Flat-Panel Detectors
• Small-Area Flat-Panel Detectors

By Modality :

• Portable Detectors
• Fixed Detectors

By Module Type :

• Digital X-ray Systems
• Retrofit X-ray Systems

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By End User :

• Hospitals
• Diagnostic Centers

By Region :

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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