Global X-ray Detectors Market Expected To Reach $ 3.17 Billion By 2021 With A CAGR Of 5.8%

Date: 2017-08-01

X-ray detectors are devices used to measure the flux, spatial distribution, spectrum, and/or other properties of X-rays. Detectors can be divided into two major categories: imaging detectors (such as photographic plates and X-ray film (photographic film), now mostly replaced by various digitizing devices like image plates or flat panel detectors) and dose measurement devices (such as ionization chambers, Geiger counters, and dosimeters used to measure the local radiation exposure, dose, and/or dose rate, for example, for verifying that radiation protection equipment and procedures are effective on an ongoing basis).

The global X-ray Detectors market was estimated at USD$ 2.39 billion in 2016, and is anticipated to reach USD$ 3.17 billion by 2021, expanding at a CAGR of 5.8% between 2017 and 2021. Growing innovation in technology coupled with introduction of effective x-ray devices such as filmless imaging machines are anticipated to drive the global x-ray detectors market over the forecast period. Reducing prices, better image quality due to technical advancement, and strong support by venture capitalist firms for providing funds are also expected to trigger the market growth in coming seven years. In addition, increasing geriatric population base, growing awareness about radiography system, favorable government initiative and heavy investment in research and development are vital factors expected to drive the global x-ray detectors market over the forecast period.

Developing countries such as China, Brazil and India are expected to witness lucrative growth due to continuous development of wireless x-ray detectors and growing medical tourism in these nations.  Furthermore, increasing disposable income, rising incidences of joint injuries and demand for early stage disease diagnosis are anticipated to expand the growth of this market over the forecast period.

There has been a significant dip in the prices of x-ray detectors in the last five years, approximately a 25% price reduction is observed. This is owing to the market unawareness of technology and acceptance of computed radiology detectors due to less price and excellent functionalities. This has created an immense competition in the flat panel detectors market, to cater to the challenges price reductions were done to promote digital x-ray technologies in the market. Also, the hospitals reimbursement shifting to value based has led to budget reductions leading to a slow acceptance of digital detectors in the market.

However, in recent year’s digitalization of x-ray detectors technology has increased, and is expected to increase significantly in the forecast period bringing advanced digital x-ray detectors to mobile locations, and shifting analog to digital real time imaging will boost the market potential in present times.

The global X-ray detector market is segmented into 4 product types, namely flat panel detectors (FPD), computed radiography detectors (CRD), line scan detectors and, charged coupled devices detectors (CCD). In 2017, the flat panel detectors (FPD) segment is expected to dominate the market with a share of around 71.0% and is expected to continue this trend till 2021

In 2017, North America is expected to dominate the X-ray detector market, followed by Europe and APAC. However the APAC region is expected to grow at the highest CAGR in the forecast period 2017 to 2024.The market in Asia is poised to witness the highest growth, attributed to factors such as rising disposable income, government initiatives to encourage advanced medical care, improving healthcare infrastructure and diagnostic radiology centers, and growing medical tourism in the region.
 

Read Full Report: 
http://www.gosreports.com/global-x-ray-detectors-market-research-report-2017/ 

Joanna | Executive – International Business and partner Relations
E-mail: info@gosreports.com | Tel: 1-510-400-8520
Web: www.gosreports.com
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