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The growth of this market is mainly driven by factors such as technological advancements, rising geriatric population, government and venture capital funding, rising incidences of orthopedic and cardiovascular procedures, and reimbursement cuts for analog systems. Moreover, factors such as development of wireless detectors, growing medical tourism in Asian countries, and untapped emerging markets offer growth opportunities to players in the X-ray detectors market. However, High initial cost of Digital X-ray systems and stringent regulatory procedures for product launch may hinder the growth of this market during the forecast period.
The report segments the X-ray detectors market based on type, application, and region. Based on FPDs type, the X-ray detectors market is segmented into FPDs market by Type of systems, FPDs market by Panel size, FPDs market by portability. The Flat-panel detectors (FPDs) segment is expected to account for the largest share of the X-ray detectors market, by type, in 2016.
The technological advancement and portability is one of the major factors expected to drive the growth of the FPDs market during the forecast period. Moreover, the Medical Applications segment is expected to grow at the highest CAGR during the forecast period. High growth in this market is attributed to the growing geriatric population; increasing number of orthopedic, mammography and cardiovascular procedures; and technological advancements in X-ray devices and CT scanners are driving the growth of the X-ray detectors for medical applications.
Based on region, the X-ray detectors market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is further subsegmented into the U.S. and Canada; while Europe is further subsegmented into Germany, France, the U.K. Italy, Spain, and Rest of Europe (RoE); Asia is further subsegmented into Japan, China, India and Rest of Asia (RoA). In 2016, North America is expected to dominate the market, followed by Europe. The converging trends of aging population, technological advancements, and reimbursement cuts for analog systems are driving the X-ray detectors market in North America.
However, Asia is poised to be the fastest-growing region during the forecast period. The high growth in this market is attributed to the growing geriatric population, growing adoption of digital imaging systems, rising disposable income, growing number of awareness programs and symposia, and growing venture capital investments driving growth in the Asian market.
The X-ray detectors market is a fragmented market, with several big and emerging players. Key market players include Varian Medical Systems (U.S.), PerkinElmer, Inc. (U.S.), Canon, Inc. (U.S.), Konica Minolta, Inc. (Japan), Agfa healthcare (Belgium), Analogic Corporation (U.S.), , Fujifilm Medical Systems (Japan), Teledyne Dalsa (U.S.), Thales Group (France), , and YXLON International (Germany).
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