Medical X-ray Detectors Market, surpassing a billion-dollar revenues in 2021, is set for a promising CAGR during 2019 – 2029
The medical X-ray detectors market is likely to experience obstacles in its positive growth trajectory during and post the COVID-19 crisis.
The global medical X-ray detectors market is poised to exhibit an impressive CAGR during the forecast period (2020-2029), according to a recent market study of Future Market Insights (FMI). Factors predominantly fueling the growth of market include increasing focus on radiological diagnostic tests, a growing number of chronic diseases among people, and the introduction of efficient X-ray devices.
Furthermore, the rising incidence of injuries, trauma, and cancers is significantly driving the number of diagnostic imaging tests annually, in turns increasing demand for x-ray detectors. The introduction of new technology such as the Veradius X-ray system, is propelling the demand for thin flat detector devices and computed radiography (CR) detectors among hospitals and diagnostic centers.
“The market will be adversely affected by the global coronavirus pandemic. The swiftly spreading infection has resulted in travel restrictions and the workforce shortages, thereby hindering the production and supply of X-ray detectors. Hospitals are prioritizing patients of COVID-19, and have put all non-essential procedures on hold for the time being,” states the report.
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Direct flat panel X-ray detectors are expected to account for 45% of revenue generation on the back of its ability to perform all current radiological modalities at a reduced dose, in addition to providing high-quality radiograph which can be used for real-time imaging.
Large-area flat-panel detectors are gaining higher traction than small-area variants, with 7 in 10 units of medical X-ray detectors sold in 2019 being large-area flat-panel.
Digital X-ray equipment is exhibiting substantial growth as compared to its counterpart, retrofit X-ray systems. The digital X-ray equipment is projected to capturemore than 2/3rd of total market value by the end of the forecast period.
Hospitals are expected to remain the most lucrative end-use segment owing to higher usage. Diagnostic centers will contribute to sales in the foreseeable future due to growing demand.
North America will persist dominance and is expected to account for more than 1/3rd of global revenue, invigorated by healthcare spending and the availability of innovative products.
Asia to Register significant growth, owing to increasing government spending on medical technology for better treatments.
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Products covered: Direct flat-panel, Indirect flat-panel, and Computed Radiography (CR) Detectors
Modality covered: Fixed detectors and Portable Detector
End-uses covered: Hospitals and Diagnostic Center
Regions: North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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