Market Overview

$4.28 Billion X-Ray Detectors Market - Global Growth, Trends, Forecasts 2020-2025 - ResearchAndMarkets.com

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The "X-Ray Detectors Market - Growth, Trends, Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The global X-ray detectors market was valued at USD 2970 million in 2019, and it is expected to reach USD 4288.7 Million by 2025, registering a CAGR of 6.4%, during the period of 2020-2025 (henceforth, referred to as the forecast period).

X-ray detectors have undergone continual innovations over the last few decades, both in terms of performance and size, aided by technological advancements and increasing demand from a wide range of end-user verticals. Further, the considerable advancements in analytical procedures, such as indirect excitation of X-ray spectra bulk samples and combinations of instruments in a smaller space, are expected to boost the market over the foreseen period. With the advancements in technology, X-ray detection in the market has evolved to become more safe, effective, and convenient.

Increasing demand for mobile equipment in the market, especially from end-users, such as oil and gas, power generation, etc., to inspect the equipment installed in remote locations that are not accessible through traditional X-ray inspection solutions, is driving several innovations in the market. Also, inspection service providers in the market, which largely benefit from mobile equipment, are encouraging mobile X-ray equipment's mass production. Owing to such demand, manufacturers are diversifying their product portfolios to suit the needs of industrial users.

For instance, Varex, a prominent vendor in the X-ray inspection market, launched two new X-ray detectors in May 2019, 3030DXV-I and 3020DXV-I are targeted to address the needs of industrial applications and inspection service providers. Reportedly, these detectors are expected to offer frame rates up to 45fps and high dynamic range (1.5k x 1.5k), providing excellent sensitivity and dynamic range. Over the forecast period, such product releases are expected to increase as the penetration of X-ray inspection techniques in several end-user applications increases.

However, the breakout of the COVID-19 pandemic is expected to have a significant impact on the market in the short term, owing to the dependence on manufacturing facilities of industrial X-ray film providers, chemical companies, semiconductor manufacturers. The result of production halt, specifically in the East Asia has led to a colossal increase in the equipment prices.

The increasing spread of COVID-19 has put majority of the global countries under temporary lockdown and has significantly affected the industries in the value chain. Moreover, the prolonged lockdown is forcing the induction of the 2020 recession that is expected to disrupt the production of testing equipment and required software infrastructure.

Key Market Trends

Medical Applications of X-ray Detectors to Grow Significantly Over the Forecast Period

  • The expansion of the medical imaging and diagnostics sector over the recent past has indicated well for the sales of medical X-ray detectors at a global level.
  • The medical devices industry is witnessing a growth in the number of imaging and diagnostic tests performed every year owing to various factors such as increasing focus on radiological diagnostic tests, rising chronic disease burden, and introduction of efficient X-ray devices through consolidation and mergers in the medical devices market.
  • According to the UN data of World Population Prospects, the number of people over 65 is steadily increasing. By 2050, the world's population aged 60 years and older is predicted to reach 2 billion, of which 80% would live in low- and middle-income countries.
  • Hence, the rising geriatric population, increasing number of orthopedic and cardiovascular procedures would further drive the adoption of X-ray detectors in medical applications. Also, the growing incidence of sports injuries, trauma, and cancer represent a significant patient pool opting for diagnostic imaging tests annually, particularly in emerging countries. The growing prevalence of lung diseases further drive the need for effective screening methods to detect chest abnormalities, which supports the demand for x-ray detectors.
  • In addition, the COVID-19 pandemic has been spreading at a very rapid pace. In such regard, imaging procedures are crucial to identify the impact of COVID-19 outbreak when it comes to assessing suspected cases and the course of the disease. The role of X-ray imaging in the current situation is playing an important role.
  • Radiologists at Louisiana State University Health Sciences Center New Orleans conducted a retrospective study of nearly 400 persons under investigation for COVID-19 in New Orleans. They reviewed the patients' chest X-rays along with concurrent RT-PCR virus tests. The radiologists found a characteristic chest X-ray appearance is highly specific (96.6%) and has a high positive predictive value of 83.3% for SARS-CoV-2 infection in the setting of a pandemic.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Industry Value Chain Analysis

4.3 Industry Attractiveness - Porter's Five Forces Analysis

4.4 Assessment of the Impact of COVID-19 on the industry

4.5 Market Drivers

4.5.1 Growth of Public and Private Investments in Digital Imaging Technologies

4.5.2 Declining Prices and Increasing Number of Benefits Offered by Digital Detectors

4.6 Market Challenges

4.6.1 High Cost of Digital X-ray Systems Due to the Digital Radiography (DR) Unit

5 Market SEGMENTATION

5.1 Type

5.1.1 Flat Panel Detectors

5.1.1.1 Indirect Flat Panel Detectors

5.1.1.2 Direct Flat Panel Detectors

5.1.2 Computed Radiography (CR) Detectors

5.1.3 Charge Coupled Device Detectors

5.1.4 Other Types

5.2 Portability

5.2.1 Fixed Detectors

5.2.2 Portable Detectors

5.3 Application

5.3.1 Medical

5.3.2 Dental

5.3.3 Security

5.3.4 Industrial

5.3.5 Other Applications

5.4 Geography

6 COMPETITIVE INTELLIGENCE

6.1 Company Profiles

6.1.1 Varex Imaging Corporation

6.1.2 PerkinElmer Inc.

6.1.3 Thales Group

6.1.4 Fujifilm Medical Systems

6.1.5 Agfa Healthcare

6.1.6 Konica Minolta Inc.

6.1.7 Canon Inc.

6.1.8 Teledyne DALSA Inc.

6.1.9 Analogic Corporation

6.1.10 Comet Holding AG

6.1.11 Hamamatsu Photonics KK

6.1.12 Rayence Co. Ltd

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/ppk1ph

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