Increasing private and public investment in digital imaging technology particularly in the field of healthcare, the numerous benefits offered by digital detectors, analog X-ray reimbursement cuts, and reducing prices are the main factors driving the medical X-ray detectors market. Furthermore, technological advancements coupled with strong encouragement by venture capitalists should boost the medical X-ray detectors market throughout the course of the study period. The medical X-ray detectors market is poised to grow with a robust CAGR of 6.1% from 2017-2022.
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Digital X-ray systems are twice the size of retrofit X-ray systems in terms of module type and are expected to become even more popular in the days ahead. The digital x-ray systems medical X-ray detectors segment is on track to be worth more than US$ 2 billion by the end of the study period, making it imperative for key stakeholders to target this segment. Retrofit systems are slowly but surely fading in popularity. Nonetheless, this segment still accounts for a revenue share approaching a third of the medical X-ray detectors market in 2017 and companies cannot overlook it entirely in favor of digital x-ray systems.
Fixed detectors comprise more than half the medical X-ray detectors market by revenue share. North America alone has a third of the market in 2017 and is expected to be the only region in the medical X-ray detectors market to record a robust CAGR in excess of 6%. Europe is the second largest region in the fixed detector segment of the medical X-ray detectors market but MEA and Latin America are predicted to grow at a higher CAGR. Portable detectors occupy the balance revenue share in the modality segment of the medical X-ray detectors market. This segment is highly likely to see strong growth and companies can try to target this lucrative segment accordingly.
Large-area flat panel detectors are dominant in the medical X-ray detectors market by panel size segment in 2017 and are estimated to remain so going forward. The large-area flat panel detector segment in both North America and Europe is assessed to be worth more than US$ 600 million by the end of the forecast period, ensuring that all major players can be profitable in such a large market. The small-area flat panel detectors segment is particularly popular in North America with a high CAGR in the APEJ region.
Computed radiography has a revenue share of just over a fifth of the medical X-ray detectors market by product type segment and is likely to lose popularity over the study period. A similar CAGR greater than 4.5% exists in Latin America and APEJ but the latter is considerably larger in terms of market size.
North America is the largest region in the medical X-ray detectors market and the U.S. accounts for the lion’s share within the continent. The U.S. medical X-ray detectors market is anticipated to grow to more than a billion dollars by end 2022.
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The companies profiled in the medical X-ray detectors market report are Teledyne Technologies Incorporated, Rayence Co., KONICA MINOLTA, Hamamatsu Photonics, DRTECH Corporation, Canon Inc, Analogic Corporation, FUJIFILM Holdings Corporation, Onex Corporation, and Agfa-Gevaert N.V.
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