Global X-ray detectors market to reach $3.5B by 2025

A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “X-Ray Detectors – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post Covid-19 marketplace.

Global X-ray detectors market to reach $3.5 Billion by 2025
X-ray detectors are devices designed for measuring the flux, spectrum, spatial distribution and other properties of X-rays. These detectors are used in a broad range of applications in various fields including medical/dental, industrial, homeland security and veterinary. Amid the Covid-19 crisis, the global market for X-Ray Detectors estimated at US$3 Billion in the year 2022, is projected to reach a revised size of US$3.5 Billion by 2025, registering a compounded annual growth rate (CAGR) of 5.5% over the analysis period. United States represents the largest regional market for X-ray Detectors, accounting for an estimated 31.0% share of the global total. The market is projected to reach US$1 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 10.1% over the analysis period.

The medical industry accounts for occupies a major share of the global x-ray detectors market. The demand for X-ray detectors in medical applications is exhibiting a vibrant growth due to increasing number of diagnostic and imaging tests performed each year on account of rising burden of chronic diseases and the need for radiological diagnostic testing. The market growth is also facilitated by increasing incident of cancer, trauma and sports injuries along with the resulting need for medical imaging techniques, especially in emerging countries. The market growth is expected to be fueled by availability of advanced detectors with enhanced operational and design efficiencies and adoption of sophisticated manufacturing and digital electronics. The increasing use of X-rays in the field of dental diagnosis is expected to further drive the market growth. Some of the other prominent factors propelling the demand include popularity of cloud-based services and focus on portable devices. Rising concerns to store patient data generated by imaging techniques are driving companies to offer cloud computing and storage services to healthcare organizations. In addition, various companies are investing in R&D to develop portable X-ray detectors by employing flexible electronics for novel applications.

The US represents a major regional market, led by ongoing technological advances and increasing adoption of minimally-invasive procedures. The regional market is gaining from digital transformation, product innovations, and increasing focus on healthcare services. In Asia-Pacific region, market growth is facilitated by increasing investments in R&D, government regulations for improving security systems, robust demand for sophisticated security systems capable of detecting hazardous weapons in freight. The market for Flat panel detectors (FPDs) is forecast to dominate market growth over the analysis period. Representing advanced digital radiography devices, FPDs are designed to convert X-rays into light or electric charge that is read by thin-film transistors (TFTs). Flat panel detectors hold various advantages over their counterpart analog radiography systems, such as portability, superior image quality, durability, lower radiation doses and cost/time savings. The segment is anticipated to benefit from increasing demand for fluoroscopic and interventional imaging techniques for pediatric patients due to their less-invasive nature than surgery. Global Industry Analysts, Inc.