The global X-ray detector market is set to record a CAGR of 6.22% over the estimated years of 2021 to 2028. The market growth is mainly attributable to key factors such as the demand for digital imaging technologies for medical radiography and preventing security threats, the advantages associated with digital detectors, and the investments made in digital imaging technologies by numerous companies.
While X-rays are tremendously resourceful across numerous industries and offer several benefits, X-ray detectors are used to measure key parameters like acquisition speed, uniformity of response, spatial resolution, dynamic range, contrast sensitivity, and frame rate. In addition, they also serve the purpose of medical diagnosis as well as treatment monitoring in order to reveal dental problems, luggage detection or baggage scanning, animal health, and non-destructive testing (NDT) in medical, industrial, veterinary, and security markets.
Digital imaging technologies offer substantial improvements in terms of patient care and enhanced outcomes with elevated efficiency. Significant developments in digital imaging technologies have also been observed in medical radiography, thereby facilitating clinical decision-making. For example, in 2019, the United States Food and Drug Administration (FDA) approved a new artificial intelligence (AI) algorithm designed by GE Healthcare. This algorithm works with portable X-rays to rapidly screen a pneumothorax or collapsed lung. Similarly, on account of numerous advantages delivered by digital imaging technologies, key players in the industry have been developing X-ray imaging systems equipped with smart capabilities, thus catering to the rising demand.
The global X-ray detector market growth assessment includes the detailed evaluation of North America, the Asia-Pacific, Europe, and the Rest of World. North America held the highest market share in 2020. The region’s market growth is reinforced by drivers such as increased research and development investments in the field of X-ray imaging, the presence of well-established healthcare facilities, the rising number of medical imaging procedures, as well as the growing utility of computer technology.
Several players in the global X-ray detector market are dedicating their research and development endeavors to capitalize on un-explored domains. Firms also attempt to establish an international presence, primarily in nations across the Asia-Pacific, including India and China. These expansions are anticipated to create intense competitive scenarios, predominately between multinational enterprises and local companies, over the forecast period.
Some of the top firms operating in the market are Fujifilm Medical System, PerkinElmer Inc, Canon Inc, etc.
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- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
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