X-Ray Detectors Market by Technology (Flat Panel, CCD, Computed radiography), FPD (Type (Gadox, CSL, Direct), Portability, Platform (Digital, Retrofit)), Application (Medical, Orthopedic, Industrial, Veterinary, Security) - Global Forecast to 2027
Updated on : April 14, 2023
The global X-ray detectors market in terms of revenue was estimated to be worth $3.1 billion in 2022 and is poised to reach $4.0 billion by 2027, growing at a CAGR of 5.2% from 2022 to 2027. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. Due to increasing cardiac arrest in the US and all over the globe, the mortality rate has increased. The help of imaging systems and advancements in imaging products it is helping in cardiac imaging and the early detection of diseases. The developments are enhancing the diagnostic and prognostic skills of medical professionals, which are allowing them to better assist patients with tumors, orthopedic pains, veterinary doctors, and other healthcare providers.
Global X-Ray Detector Market
e- Estimated; p- Projected
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X-Ray Detector Market Dynamics
Driver: Investments to advance healthcare facilities & Digital Imaging Technologies
X-Ray detectors are easing the healthcare professionals’ work in the diagnosis and further treatment of patients. The effective use of advanced equipment such as X-Ray detectors helps to screen a larger number of patients at lower costs and is very time-saving. Growing support, funds, and investments will greatly drive access to the adoption of these technologies, which can help the market to grow further.
Restraint: High cost of X ray detectors.
The X-ray detector market is constrained by the high cost of these devices. This is not only the constraining element; it also makes it challenging for poor and growing nations to adopt new technologies. Many hospitals also have insufficient funding, thus they are unable to even consider purchasing these modern technologies. Security checks are no longer done manually as every nation strives to develop and adopt cutting-edge technologies. Then there is the idea of a health hazard; in security applications, these detectors have been shown to induce cancer, which can be a real limitation.
Another issue that needs to be addressed is the scarcity of qualified radiologists.
Challenge: Lack of animal awareness in emerging and developing countries.
The threat from global players is still persistent for X-ray detectors and as well as Chinese players have great dominance in X-ray detector market. Additionally, compared to industrialized countries, spending on animal health is extremely minimal. In comparison to North America and industrialized countries, growing nations like India, China, and Africa do not yet have as developed knowledge of animal health. These nations continue to place an emphasis on medical treatments that are therapeutic and not on procedures that include X-ray detectors.
Opportunity: Rising healthcare expenditure across developing countries
In the X-ray detectors market, emerging nations like APAC and India have many prospects. These countries are seeing a large growth in medical tourism thanks to factors such as the expanding population, rising sedentary lifestyles, and the quick growth of medical tourism. These factors are contributing to the rise in health conditions such as cardiovascular and neurovascular diseases. Additionally, these nations have returns on investments that are better than average and are thought to have a skilled labor force. These countries' medical tourism industries are being nurtured and grown by government programs and policies.
By application, the medical application segment accounted for the largest share of the X-ray detectors market during the forecast period.
The medical segment accounted for the largest share of the market in the US. This segment is projected to reach USD 2,828.2 million by 2027 from USD 2,048.0 million in 2021, at a CAGR of 5.3% during the forecast period.
By region, APAC is expected to grow at the fastest rate during the forecast period, whereas North America has the highest share in the X-Ray detectors market.
Based on regional analysis, the market in North America accounted for the largest revenue share in 2021, owing to the presence of major manufacturers such as Varex Imaging and others in the region. This segment is projected to reach USD 1,340.8 million by 2027 from USD 1029.5 million in 2021, at a CAGR of 4.3% during the forecast period.
When compared to other regions, the APAC region is growing faster than the rest because of factors including rising populations, an increase in orthopedic disorders in newborns and seniors, and a rise in the demand for screening tests and accurate diagnoses of cancer, cardiovascular, and neurovascular diseases. Many worldwide manufacturer units are establishing bases and enhancing their services in these countries in this region, which is likewise becoming a growing destination.
The X-ray detector market in the Asia Pacific market is expected to register the fastest revenue CAGR, which is 6.4%, owing to the rapid adoption of digital radiology. The significant potential of X-ray detectors in the early detection of various diseases and the high adoption rate is helping the Asian market to increase at a high rate.
North America is expected to be the largest region of the X-ray detectors market during the forecast period.
North America, comprising the US and Canada, accounted for the largest share of the market. Factors such as the increasing number of target diagnostic and interventional procedures performed in the region, the high prevalence of diseases, the rising geriatric population, and the high market availability of advanced interventional products (including microcatheters) are driving the growth of the X-Ray detector market in North America.
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Prominent players in the market are Varex Imaging Corporation (US), Canon(Japan), Fujifilm Holdings Corporation( Japan), Teledyne Technologies(US) and Thales Group (France).
X-Ray Detectors Market Report Scope
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Report Metric |
Details |
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Market Revenue in 2022 |
$3.1 billion |
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Estimated Value by 2027 |
$4.0 billion |
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Growth Rate |
Poised to grow at a CAGR of 5.2% |
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Largest Share Segments |
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Market Report Segmentation |
Technology, Application and Regional Level |
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Growth Drivers |
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Growth Opportunities |
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Geographies covered |
North America, Europe, APAC, MEA, and Latin America |
This report has segmented the global X-Ray detectors market into following segments & sub-segments:
By product
- Flat Panel detectors
- Computed Radiography detectors
- Line-Scan detectors
- Charged coupled device detectors
By application
- Medical applications
- Dental Applications
- Security Applications
- Veterinary Applications
- Industrial Applications
By region
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North America
- US
- Canada
-
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
-
Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia Pacific
-
Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
Recent Developments
- In November 2022, Varex Imaging Corporation launched the AZURE flat Panel detector in RSNA 2022. The product has faster integration with high speed and low noise for real-time image applications.
- In March 2021, Thales Group launched Pixium 3040F, which has high image quality, optimized spatial resolution, higher contrast, and superior sensitivity at low doses when used in radiotherapy.
- In March 2021, Canon Inc launched XCDI-RF wireless B1, wireless FPD in Japan for radiography and for fluoroscopy purposes.
Frequently Asked Questions (FAQ):
What is the projected market value of the global X-ray detectors market?
The global X-ray detectors market boasts a total revenue value of $3.1 billion in 2022 and is projected to register a revenue value of $4.0 billion by 2027.
What is the estimated growth rate (CAGR) of the global X-ray detectors market for the next five years?
The global X-ray detectors market in terms of revenue is poised to grow at a CAGR of 5.2%.
What does the current study of the X-ray detectors market consist of?
The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.
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This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
Secondary Research
The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, company house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the X-Ray detectors market. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations in the X-Ray detectors market. The primary sources from the demand side include medical OEMs, Oncologists, CDMOs, and service providers, among others. Primary research was conducted to validate the market segmentation, identify key players in the market, and gather insights on key industry trends & key market dynamics.
A breakdown of the primary respondents is provided below:
*Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
Note: Companies are classified into tiers based on their total revenue. As of 2019, Tier 1 = >USD 1,000 million, Tier 2 = USD 500–1,000 million, and Tier 3 = <USD 500 million.
To know about the assumptions considered for the study, download the pdf brochure
Market Estimation Methodology
In this report, the X-Ray detectors market's size was arrived at by using the revenue share analysis of leading players. For this purpose, key players in the market were identified, and their revenues from the X-Ray detectors market business were determined through various insights gathered during the primary and secondary research phases. Secondary research included the study of the annual and financial reports of the top market players. In contrast, primary research included extensive interviews with key opinion leaders, such as CEOs, directors, and key marketing executives.
To calculate the global market value, segmental revenues were calculated based on the revenue mapping of major solution/service providers. This process involved the following steps:
- Generating a list of major global players operating in the X-Ray detectors market.
- Mapping annual revenues generated by major global players from the product segment (or nearest reported business unit/product category)
- Revenue mapping of major players to cover a major share of the global market as of 2021
- Extrapolating the global value of the X-Ray detectors market industry
To know about the assumptions considered for the study, Request for Free Sample Report
Data Triangulation
After arriving at the overall market size from the market size estimation process explained above, the global X-Ray detectors market was split into segments and subsegments. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Additionally, the X-Ray detectors market was validated using both top-down and bottom-up approaches.
Objectives of the Study
- To define, describe, and forecast the X-Ray detectors market on the basis of product, end user, and region.
- To provide detailed information regarding the major factors influencing the growth potential of the global X-Ray detectors market (drivers, restraints, opportunities, challenges, and trends)
- To analyze the micro markets with respect to individual growth trends, future prospects, and contributions to the global X-Ray detectors market.
- To analyze key growth opportunities in the global X-Ray detectors market for key stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of market segments and/or subsegments with respect to five major regions, namely, North America (US and Canada), Europe (Germany, France, the UK, Italy, Spain, and the RoE), Asia Pacific (Japan, China, India, Thailand, Indonesia, and the RoAPAC), Latin America (Brazil, Mexico, and RoLATAM), and the Middle East & Africa
- To profile the key players in the global X-Ray detectors market and comprehensively analyze their market shares and core competencies
- To track and analyze the competitive developments undertaken in the global X-Ray detector market, such as product launches; agreements; expansions; and mergers & acquisitions
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company's specific needs. The following customization options are available for the present global X-Ray detectors market report:
Product Analysis
- Product matrix, which gives a detailed comparison of the product portfolios of the top five companies
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Geographic Analysis
- Further breakdown of the Rest of Europe X-Ray detectors market into Russia, Belgium, the Netherlands, Switzerland, Austria, Finland, Sweden, Poland, and Portugal among other
- Further breakdown of the Rest of Asia Pacific X-Ray detectors market into Singapore, Taiwan, New Zealand, Philippines, Malaysia, and other APAC countries
- Further breakdown of the Latin American X-Ray detectors marketmarket into Colombia, Chile, Argentina, and Peru, among other
Market outlook for the top 10 players in XRF detector Market
Thermo Fisher Scientific Inc.: Thermo Fisher Scientific Inc. is one of the leading players in the XRF detector market, offering a wide range of XRF analyzers and detectors. The company is expected to maintain its dominant position in the market due to its strong product portfolio, global presence, and focus on innovation and research and development.
Bruker Corporation: Bruker Corporation is another major player in the XRF detector market, offering a range of handheld, portable, and benchtop XRF analyzers. The company is expected to maintain its strong position in the market due to its focus on innovation and new product development, along with its strategic partnerships and collaborations.
Rigaku Corporation: Rigaku Corporation is a leading player in the XRF detector market, offering a range of XRF analyzers and detectors for various applications. The company is expected to maintain its position in the market due to its focus on new product development and strategic collaborations with other companies.
Olympus Corporation: Olympus Corporation is a major player in the XRF detector market, offering a range of handheld and benchtop XRF analyzers for various applications. The company is expected to maintain its strong position in the market due to its focus on innovation, product development, and strategic partnerships.
Hitachi High-Tech Corporation: Hitachi High-Tech Corporation is a leading player in the XRF detector market, offering a range of XRF analyzers and detectors for various applications. The company is expected to maintain its position in the market due to its focus on innovation, research and development, and strategic partnerships.
Shimadzu Corporation: Shimadzu Corporation is a major player in the XRF detector market, offering a range of XRF analyzers and detectors for various applications. The company is expected to maintain its position in the market due to its focus on new product development and strategic collaborations.
Ametek, Inc.: Ametek, Inc. is a leading player in the XRF detector market, offering a range of XRF analyzers and detectors for various applications. The company is expected to maintain its position in the market due to its strong product portfolio, global presence, and focus on innovation and research and development.
Hitachi High-Tech Analytical Science Corporation: Hitachi High-Tech Analytical Science Corporation is a major player in the XRF detector market, offering a range of XRF analyzers and detectors for various applications. The company is expected to maintain its position in the market due to its focus on new product development and strategic collaborations.
SPECTRO Analytical Instruments GmbH: SPECTRO Analytical Instruments GmbH is a leading player in the XRF detector market, offering a range of XRF analyzers and detectors for various applications. The company is expected to maintain its position in the market due to its focus on new product development and strategic collaborations.
Horiba, Ltd.: Horiba, Ltd. is a major player in the XRF detector market, offering a range of XRF analyzers and detectors for various applications. The company is expected to maintain its position in the market due to its focus on innovation, research and development, and strategic partnerships.
What are the growth drivers for XRF detector Market from macro to micro
Macro-level growth drivers:
- Increasing demand for XRF technology in various industries, including mining, metals and alloys, pharmaceuticals, and environmental testing.
- Growing focus on quality control and assurance in manufacturing processes, driving the adoption of XRF technology for material analysis and verification.
- Rising awareness about the benefits of XRF technology over traditional analytical techniques, such as reduced analysis time and cost, high accuracy and precision, and non-destructive nature of analysis.
Micro-level growth drivers:
- Technological advancements in XRF detectors, such as miniaturization, increased sensitivity and resolution, and improved data analysis software, driving the adoption of XRF technology in various applications.
- Increasing demand for handheld and portable XRF analyzers, enabling real-time analysis in the field and reducing the need for sample preparation and transportation.
- Growing focus on environmental regulations and sustainability, driving the adoption of XRF technology for analysis of hazardous materials, waste characterization, and soil and water quality testing.
- Increasing investments in research and development by key market players, leading to the development of new and advanced XRF analyzers and detectors.
Hypothetic challenges of XRF detector Market in future
Increasing competition: As the market for XRF detectors grows, more players may enter the market, leading to increased competition and price pressures.
Technological obsolescence: Rapid advancements in technology could lead to the development of new analytical techniques and equipment that could potentially replace XRF detectors. Market players will need to keep up with these technological advancements to stay relevant in the market.
High cost: XRF detectors can be expensive, which may limit their adoption by smaller organizations and industries with limited budgets.
Regulatory challenges: Environmental regulations and standards for XRF analysis may change in the future, which could impact the demand for XRF detectors.
Limited sensitivity: While XRF detectors are highly accurate and precise, they may not be able to detect trace amounts of certain elements, which may limit their applicability in certain industries.
Safety concerns: XRF detectors use radiation to analyze materials, which may raise safety concerns among users and stakeholders.
Future use cases of XRF detector Market along with commentary of adaption, market potential, risk
Environmental monitoring: XRF detectors can be used for rapid analysis of soil, water, and air samples for the presence of pollutants and contaminants. This use case has significant potential in environmental monitoring and remediation applications.
Pharmaceutical analysis: XRF detectors can be used for qualitative and quantitative analysis of pharmaceuticals and drug formulations, enabling real-time quality control and assurance.
Food and beverage testing: XRF detectors can be used for analysis of food and beverage products for the presence of contaminants, heavy metals, and other harmful substances. This use case has significant potential in food safety and quality control.
Forensic analysis: XRF detectors can be used for analysis of trace elements in forensic samples, such as gunshot residue, glass fragments, and fibers.
Archeological analysis: XRF detectors can be used for non-destructive analysis of artifacts and historical objects to determine their composition and origin.
Aerospace and defense: XRF detectors can be used for analysis of aerospace and defense components and materials, enabling real-time quality control and assurance.
Industry impact of XRF detector Market
Mining and metals: XRF detectors are widely used in the mining and metals industry for rapid analysis of ore samples for the presence of minerals and metals. The market potential in this industry is significant, as XRF detectors offer high accuracy, precision, and speed of analysis, enabling real-time decision making and process optimization.
Petroleum and petrochemicals: XRF detectors are also used in the petroleum and petrochemical industry for analysis of crude oil, refined products, and catalysts. This use case has significant potential, as XRF detectors offer non-destructive and real-time analysis, enabling better control of production processes and product quality.
Environmental monitoring and remediation: XRF detectors can be used for rapid analysis of soil, water, and air samples for the presence of pollutants and contaminants. This use case has significant potential in environmental monitoring and remediation applications, where the fast and accurate analysis of samples is essential for effective decision making.
Pharmaceuticals and healthcare: XRF detectors can be used for qualitative and quantitative analysis of pharmaceuticals and drug formulations, enabling real-time quality control and assurance. This use case has significant potential in pharmaceuticals and healthcare industries, where the fast and accurate analysis of samples is essential for ensuring product quality and patient safety.
Food and beverage: XRF detectors can be used for analysis of food and beverage products for the presence of contaminants, heavy metals, and other harmful substances. This use case has significant potential in food safety and quality control, enabling real-time analysis of samples for better decision making and risk management.
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