Global X-Ray Detector Market is Growing at a Significant Rate in the Forecast Period 2019-2026

Drivers Global X-Ray Detector Market

RISING GERIATRIC POPULATION:

The global population of older people continues to grow at an unmatched rate. With the growing geriatric across the world is leading to the increase in the prevalence of chronic diseases such as arthritis, cancer, respiratory diseases, metabolic disorders, orthopaedic, cardiovascular, and other age-related diseases.

  • According to United Nations, in 2017, 25.0% of the European population was 60 or over. It is estimated that rapid ageing would occur in other parts of the world too, so by 2050, except for Africa, all other regions of the world will nearly have a quarter or more of their populations in the geriatric age group

With the rising geriatric population, prevalence of diseases and their treatment and diagnosis needs are also increasing which has led to the rise become a major driver of the X ray detector market.

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GROWING GOVERNMENT INITIATIVES:

Healthcare systems in various countries across the world are under pressure owing to the increasing patient pool and rising healthcare costs. Due to increasing pressure for the early diagnosis of disease, government organizations from various regions and countries are putting making significant investments for increasing the adoption of digital X-ray equipment in various healthcare systems.

  • In January 2016, Innovate UK announced to provide grant of USD 110.6 thousand (GBP 98 thousand) to IBEX Innovations Ltd. (UK) to investigate the use of its novel X-ray imaging technology based on multi-absorption plate (MAP) X-ray detector technology in angiography procedures

ADVANCEMENTS IN TECHNOLOGY:

X-ray images were first recorded digitally with cassette-based storage-phosphor image plates, which were also introduced in 1980. The first DR system, which appeared in 1990, was the CCD slot-scan system. In 1994, investigations of the selenium drum DR system were published. The first flat-panel detector DR systems based on amorphous silicon and amorphous selenium were introduced in 1995. Gadolinium-oxide sulphide scintillators were introduced in 1997 and have been used for portable flat-panel detectors since 2001. The latest development in digital radiography is dynamic flat-panel detectors for digital fluoroscopy and angiography

  • In 2017, Konica Minolta Healthcare Americas, Inc. (U.S.) creator of the AeroDR high definition (HD) panels, introduced a brand-new image processing software for its CS-7 platform. The software, dubbed Realism, provides clarity and detail beyond conventional processing, according to Konica Minolta, by independently processing bone and soft tissue data, and enhancing sharpness and contrast to improve visualization of traditionally hard-to-see structures

Restraints: Global X-Ray Detector Market

STRICT REGULATORY PROCESS:

Various types of government regulations for launching a product in the market are found to be a big restraint. Every country has its own regulations and has a different body for regulatory procedures. Imaging professional must be familiar with various federal regulations that pertain to protecting patients, personnel and the public from ionizing radiation exposure.

  • In the U.S., any product needs to get FDA approval before getting launched in the market and CE mark is mandate in the European market. Moreover, FDA approval is more stringent and time consuming as compared to the CE mark.

SIDE EFFECTS OF RADIATIONS:

Radiation therapies have seen many advantages for both, the physicians and the patient but the risk of radiations due to them cannot be left unseen. The radiations of X ray detectors have various side effects in various degrees depending on the time of exposure to the radiations. More than the patients, it’s the physicians and the other operation theatre staff that face the brunt of these radiations, which is a challenge that needs to be worked upon

Opportunities: Global X-Ray Detector Market

GROWING MEDICAL TOURISM IN ASIA:

Growing medical tourism around the globe, especially in Asian countries are projected to enhance growth. India, Malaysia and Thailand may provide high ROI to the investments in the industry.

  • According to India Today, India can be a $ USD 9 billion-worth medical tourism destination by 2020
  • In 2017, Thailand was at the forefront of medical tourism in Southeast Asia, holding about 50 percent of the patient share.

INCREASING UNMET MEDICAL NEEDS IN DEVELOPING COUNTRIES:

There are also many definitions of access to health services, with most researchers recognizing that access is related to the timely use of services according to need. Population of poor or developing nations have less access to medical services when compared to the populations of developed nations and within developing countries, the poor have lesser access to healthcare services.

  • In 2017, the World Health Organisation reckons about 400 million people still have no access to primary care—the basic form of medicine that should be at the forefront of any well-run health system.

Challenge: Global X-Ray Detector Market

HIGH COST OF DIGITAL X-RAY SYSTEMS:

Digital X-ray systems offer various advantages over conventional systems but the high cost of these systems is a major factor which is restricting the end users to adopt it particularly in developing countries. For instance, the price range of X-ray detectors vary from USD 10,000.0 – USD 60,000.0 and the cost of digital X-ray systems for retrofit system is around USD 160,000.0 and USD 200,000.0 for the new system.

Market Trends:

On the basis of type, the market is segmented into flat panel detectors, computed radiography detectors (CRD), line scan detectors and, charged coupled devices detectors (CCD). The flat panel detector segment is growing at the highest CAGR in the forecast period of 2019 to 2026.

On the basis of application, the market is segmented into medical application, dental application, security application, veterinary application and industrial application. In 2019, medical application segment is growing at the highest CAGR in the forecast period of 2019 to 2026

On the basis of end user, the market is segmented into hospitals, diagnostic laboratories, original equipment manufacturers, clinics and ICU. In 2019, hospitals segment is growing at the highest CAGR in the forecast period of 2019 to 2026

Major Players: Global X-Ray Detector Market

Some of the major players operating in this market AMPTEK, Inc., Varex Imaging Corporation, Rigaku Corporation, Moxtek, Teledyne DALSA Inc. and others.