X-ray Detector Market by Application and Geography - Forecast and Analysis 2020-2024

The X-ray detector market share is expected to increase by USD 838.45 million from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 5%.

This X-ray detector market research report extensively covers X-ray detector market segmentation by application (medical, security, and others) and geography (North America, Europe, APAC, MEA, and South America). The X-ray detector market report also offers information on several market vendors, including Agfa-Gevaert NV, Canon Inc., Carestream Health Inc., FUJIFILM Holdings Corp., General Electric Co., Hitachi Ltd., Konica Minolta Inc., Koninklijke Philips NV, LG Electronics Inc., and Varex Imaging Corp. among others.

What will the X-Ray Detector Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the X-Ray Detector Market Size for the Forecast Period and Other Important Statistics

 

X-Ray Detector Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The rising demand for X-ray systems is notably driving the X-ray detector market growth, although factors such as high costs associated with X-ray systems and imaging may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the X-ray detector industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key X-Ray Detector Market Driver

One of the key factor driving growth in the X-ray detector market is the increasing demand for X-ray system in different applications. A rise in the incidence of chronic diseases and other medical conditions such as injuries and accidents will drive the usage of X-ray systems. The X-ray systems market has higher growth potential in applications such as interventional X-ray, mammography, and general radiography. The growing demand for the X-ray system will, in turn, drive the growth of the X-ray detector market. The growing awareness about the benefits of early diagnosis of chronic conditions such as breast cancer is increasing the demand for X-ray systems. The incidence of breast cancer is increasing across the world. Most of the countries have adopted breast cancer screening programs and have installed mammography machines in healthcare facilities for early diagnosis.

Key X-Ray Detector Market Trend

The digitization and integration of AI in radiography is a X-ray detector market trend that is expected to have a positive impact in the coming years. Digitization of radiography improves image quality and medical image management as well as enables computer-aided diagnosis and teleradiology. Image quality is linked to the specific and accurate collection of information from the X-ray beam transmitted by the patient, and this depends on the performance of the X-ray detector. A digital radiography system provides higher efficiency, better image quality, and high-volume capabilities. Digitization has thus, led hospitals, to convert their analog X-ray systems to digital X-ray systems. The growing popularity of digital radiography compelled the key vendors in the market to invest in the development of digital X-ray detectors such as flat-panel detectors. Thus, the growing demand for digitization in radiography imaging will augment the demand for digital X-ray detectors, which will drive the growth of the global X-ray detector market during the forecast period.

Key X-Ray Detector Market Challenge

The high costs associated with X-ray systems and imaging will be a major challenge for the X-ray detector market during the forecast period. The high cost associated with the digital X-ray system and X-ray imaging is a major factor hindering the market growth. The high cost of digital X-ray detectors, X-ray systems, and X-ray scanning procedures can increase the cost burden on end-users and patients. For instance, the average cost of a flat-panel detector, also called DR plates, ranges between $70,000 and $90,000. In addition, the high replacement cost of these plates forces end-users to purchase a drop protection scheme along with the DR system. The average cost of X-ray procedures is $50-$450. The procedure's cost includes hospital stay, facilities, and the fees of physicians and supporting staff. The high cost associated with X-ray imaging procedures can reduce their adoption, especially in developing countries. This is expected to limit the growth of the X-ray system, which in turn will limit the growth of the X-ray detector market.

This X-ray detector market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global X-ray detector market as a part of the global electronic equipment and instruments market within the overall electronics market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the X-ray detector market during the forecast period.

Who are the Major X-Ray Detector Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Agfa-Gevaert NV
• Canon Inc.
• Carestream Health Inc.
• FUJIFILM Holdings Corp.
• General Electric Co.
• Hitachi Ltd.
• Konica Minolta Inc.
• Koninklijke Philips NV
• LG Electronics Inc.
• Varex Imaging Corp.

 

This statistical study of the X-ray detector market encompasses successful business strategies deployed by the key vendors. The X-ray detector market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Carestream Health Inc. - The company offers a product line of wireless, cassette-sized X-ray detectors such as DRX Plus, DRX Plus 2530C, DRX Core, and Focus 35C Detector among others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The X-ray detector market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

X-Ray Detector Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the X-ray detector market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the overall electronics market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for X-Ray Detector Market?

For more insights on the market share of various regions Request for a FREE sample now!

33% of the market's growth will originate from North America during the forecast period. The US is the key market for X-ray detectors in North America. Market growth in this region will be slower than the growth of the market in other regions.

The presence of established vendors, the emergence of new vendors, and the rise in the prevalence of chronic diseases will facilitate the X-ray detector market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the X-Ray Detector Market?

To gain further insights on the market contribution of various segments Request for a FREE sample

The X-ray detector market share growth by the medical segment will be significant during the forecast period. The demand for X-ray detectors in the medical application segment is likely to grow at a moderate rate during the forecast period. This is owing to the growth in the number of X-ray imaging procedures, the increase in product launches, technological advances, and the rise in the adoption of wireless X-ray detector systems. The development of wireless X-ray detectors has augmented the growth of X-ray detectors as it offers flexibility to healthcare facilities, thus enabling them to share medical images between mobile systems or between fixed-room and mobile systems.
Vendors are investing in the development of innovative X-ray detectors for medical applications.

This report provides an accurate prediction of the contribution of all the segments to the growth of the X-ray detector market size and actionable market insights on post COVID-19 impact on each segment.

 

X-Ray Detector Market Scope
Report Coverage	Details
Page number	120
Base year	2019
Forecast period	2020-2024
Growth momentum & CAGR	Accelerate at a CAGR of 5%
Market growth 2020-2024	$ 838.45 million
Market structure	Fragmented
YoY growth (%)	6.05
Regional analysis	APAC, Europe, MEA, North America, and South America
Performing market contribution	North America at 33%
Key consumer countries	The US
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Agfa-Gevaert NV, Canon Inc., Carestream Health Inc., FUJIFILM Holdings Corp., General Electric Co., Hitachi Ltd., Konica Minolta Inc., Koninklijke Philips NV, LG Electronics Inc., and Varex Imaging Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request for a FREE sample

What are the Key Data Covered in this X-Ray Detector Market Report?

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive X-ray detector market growth during the next five years
• Precise estimation of the X-ray detector market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the X-ray detector industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of X-ray detector market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch