LONDON, Oct. 15, 2018 (GLOBE NEWSWIRE) — According to the latest publication from Meticulous Research®, the global X-ray detectors market will grow at a CAGR of 5.8% from 2018 to reach $3,887.3 million by 2024, driven by increasing adoption of digital imaging detectors, rising demand in industrial and security markets, and growing geriatric population coupled with rising prevalence of chronic diseases.
The X-ray detectors market is witnessing a rapid adoption of digital flat panel detectors owing to their declining prices and an increasing need at the healthcare facilities to switch from analog/film imaging to digital imaging.
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The prevalence of cancer, orthopedic, and cardiovascular diseases is growing across the globe. Digital radiography has emerged as an important detection technology in the diagnosis of such diseases. It helps in rapid decision making and commencing treatment of patients. Further, digital radiography helps to reduce patient burden at the healthcare facilities by enabling faster diagnosis and thus improves overall workflow. Owing to these reasons, the digital radiography is expected to witness arapid surge in the demand in the coming years.
The X-ray detectors market is segmented based on product type and applications. Based on product type, flat-panel detectors (FPDs) commanded the largest share of the global market and are also slated to grow at the fastest pace in the forecast period.
Based on application, medical application segment commanded the largest market share mainly due to greater adoption of X-ray detectors in medical industry fueled by high prevalence of chronic (orthopedic, cardiovascular, and cancer) and infectious diseases.
Asia-Pacific region is expected to witness the fastest growth due to large population base, large proportion of elderly population suffering from chronic diseases, rising income levels leading to improving access to healthcare facilities, government initiatives to boost the healthcare sector, growing adoption of advanced medical technologies, and growing focus of key players in this region.
The key players in the global X-ray detectors market are Varex Imaging Corporation, Agfa-Gevaert N.V., FUJIFILM Holdings Corporation, Trixell, Canon Inc., Carestream Health, Inc, Rayence Inc., Konica Minolta, Inc., Vieworks Co., Ltd., Hamamatsu Photonics K.K., CareRay Medical Systems Co., i-Ray Technology Company, and Analogic Corporation, among others.
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