X-Ray Detectors Market worth $4.2 billion by 2029

The global X-Ray Detectors market in terms of revenue was estimated to be worth $3.1 billion in 2023 and is poised to reach $4.2 billion by 2029, growing at a CAGR of 5.0% from 2023 to 2029. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The rising prevalence of cardiac arrests in the United States and worldwide has led to a higher mortality rate.

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The Asia Pacific market to register the highest growth in the market during the forecast period

The Asia Pacific X-Ray detectors market is projected to register the highest growth during the forecast period of 2022 to 2027. Asia Pacific is registered to grow at the highest CAGR of 6.4%. Moreover, market players also focus on expanding their presence in the APAC healthcare imaging industry and are trying to establish new subsidiaries in the Asia Pacific region to attract huge market which will help them to increase their revenue.

X-Ray Detectors Market Dynamics:

Drivers:

1. Increasing demand for early diagnosis and widening scope of clinical applications of X-ray detectors

2. Investments to advance healthcare facilities and digital imaging technologies

3. Rising target patient population

4. Rising prevalence of animal diseases and growing number of veterinary practitioners

5. Growing demand for cosmetic dentistry

6. Increasing demand for X-ray-based security enhancement solutions at airports

7. Reimbursement cuts for analog X-rays

Restraints:

1. High cost of X-ray detectors

2. Health hazards of full-body scanning

Opportunities:

1. Rising healthcare expenditure across developing countries

2. Technological advancements

Challenges:

1. Lack of animal healthcare awareness in emerging countries

2. Increasing adoption of refurbished X-ray units

3. Hospital budget cuts

Key Market Players:

Varex Imaging Corporation (US), Canon Inc. (Japan), Agfa-Gevaert NV (Belgium), FUJIFILM Holdings Corporation (Japan)., Thales Group(France), Teledyne Technologies Incorporated (US), Carestream Health, Inc. (US), Konica Minolta, Inc. (Japan), Rayence (US), Vieworks Co., Ltd (South Korea), Hamamatsu Photonics KK (Japan), iRay Technology (China), CareRay Medical Systems Co. (China) and Analogic Corporation (US).

Varex Imaging (US):

Varian Imaging in its early decades, Varex Imaging Corporation is a global entity engaged in the manufacturing and sale of medical imaging products used in cargo screening and border security. The company operates manufacturing facilities worldwide, producing a range of products including X-ray detectors, medical OEM X-ray tubes, medical replacement X-ray tubes, NDT X-ray tubes, and various software solutions. To fortify its market position, Varex Imaging Corporation has pursued inorganic growth strategies through acquisitions. The company boasts enduring customer relationships and benefits from a robust geographic diversification through Varex gas. With substantial investments in research and development (R&D), Varex Imaging Corporation is committed to innovation. The establishment of state-of-the-art manufacturing facilities strategically located in key regions across the United States, such as Salt Lake City, Utah; Santa Clara, California; Las Vegas, Nevada; Liverpool, New York; and Franklin Park, Illinois, reflects its dedication to cutting-edge production.

Canon Inc (Japan):

Headquartered in Tokyo, Japan, Canon is a prominent Japanese multinational corporation specializing in the manufacturing of medical equipment and imaging devices. Established in 1937 by Goro Yoshida, Saburo Uchida, and Takeo Maeda, the company has become a key player in the medical industry. Canon's medical product portfolio includes computed tomography, magnetic resonance imaging, ultrasound, X-ray, and nuclear medicine devices.

Thales Group(France):

Thomson-Houston Electric Co., established in 1893 in Philadelphia, USA, underwent a transformation in 2000 and adopted the name Thales, with its headquarters now situated in Paris, France. Operating across four key segments—Aerospace (Aeronautics and Space), Transport, Defense & Security, and Digital Identity and Security—Thales is a global player with a presence in 68 countries spanning North America, Latin America, Europe, Asia Pacific, Eurasia, the Middle East, and Africa. Within its diverse portfolio, Thales, through its Trixell division, collaborates with partners Philips Healthcare and Siemens Healthcare in a joint venture. Thales Electron Devices holds a 51% stake in this venture, which specializes in providing X-ray detectors to Original Equipment Manufacturers (OEMs).

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This report has segmented the x-ray detectors market based on technology, type, application, and region.

X-Ray Detectors Market, by Technology