New York, Dec. 14, 2022 (GLOBE NEWSWIRE) -- According to The Insight Partners new research study on "X-Ray Detectors Market Size, Share, Growth, Trends and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, End User, and Geography," the global market size is expected to reach USD 4.2 billion by 2028 from USD 2.8 billion in 2021; it is estimated to grow at a CAGR of 5.8% from 2022 to 2028.
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Global X-Ray Detectors Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 2.8 Billion in 2021 |
| Market Size Value by | USD 4.2 Billion by 2028 |
| Growth rate | CAGR of 5.8% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 193 |
| No. of Tables | 84 |
| No. of Charts & Figures | 77 |
| Historical data available | Yes |
| Segments covered | Type, Application, and End User |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
X-ray detectors are devices used to measure the flux, spatial distribution, spectrum, and/or other properties of X-rays. In healthcare, X-ray detectors are commonly used in medical imaging. The design of X-ray detector can strongly vary in size, shape, spatial resolution, frame rates, X-ray flux, etc. for different medical applications.
Global X-Ray Detectors Market: Competitive Landscape and Key Developments
PerkinElmer Inc, Varian Medical Systems Inc, FUJIFILM Holdings Corp, Teledyne Technologies Inc, Analogic Corp, Konica Minolta Inc, Canon Inc, Varex Imaging Corp, Rigaku Corp, and Moxtek Inc. are among the key companies operating in the X-ray detectors market. These companies adopt product innovation strategies to meet evolving customer demands, which allows them to maintain their brand name.
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A few of the recent developments in the X-ray detectors market are mentioned below:
In October 2022, Rigaku Corporation, a leading manufacturer of X-ray analysis and inspection equipment, launched new XSPA-400 ER (X-ray Seamless Pixel Array) detector to the global market following a successful domestic launch at Japan Analytical and Scientific Instruments Show (JASIS) in September 2022. The XSPA-400 ER is a seamless pixel multi-dimensional detector for X-ray diffractometers with high energy resolution suited to battery, steel, and ceramic analysis.
In September 2021, Canon Inc. acquired Redlen. This helped the company obtain advanced radiation detection and imaging technology used in CZT semiconductor detector modules, which play an important role in the development of Photon Counting CT (PCCT). This enabled Canon Medical Systems Corporation, also a subsidiary of Canon, to accelerate the development of competitive PCCT systems to strengthen the medical systems business.
Technological Advancements and Investments Favor Growth of X-Ray Detectors Market
The healthcare industry trends are changing drastically due to constant technological development and innovation, enhancing healthcare services and quality of care. Various global market players are striving hard to acquire the largest market share, followed by the rising demand for diagnostics. This has increased the research and development (R&D) activities and investments to innovate novel X-ray detectors. Silveray, an X-ray technology spin-out from the University of Surrey, raised US$ 1.72 million in a seed funding round led by the UK Innovation & Science Seed Fund (UKI2S). ACF Investors, R42 Group, UK Future Tech Investment (UKFTI), and Syndicate Room’s Access fund were also involved in the funding round. This funding helped the company to commercialize the novel nanomaterial that makes X-ray detectors more efficient and promises a more viable route to wide-area detector panels.
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Also, there has been a surge in the integration of artificial intelligence (AI) and virtual reality (VR) technologies in the existing devices along with the development of dynamic digital radiography (DDR) that help create moving X-ray images, useful in the diagnosis of chronic obstructive pulmonary disorders (COPD), orthopedics, and asthma. Thus, the increasing technological advancements and investments are likely to catalyze the growth of the X-ray detectors market.
The growth of the X-ray detectors market in North America is attributed to the rising prevalence of lung cancer, growing implementation of disease diagnosis programs, and launch of new products offered by companies in the country. The US holds the largest share of the market in this region. According to a study published by the American Cancer Society, the US is likely to witness an estimated 235,760 new lung cancer cases and about 130,180 death cases in 2022. Lung cancer commonly occurs in people aged 65 or above, while a very small fraction of the population diagnosed with it comprises people younger than 45 years. The average age of people diagnosed with lung cancer is 70 years. As X-rays help diagnose cancer, the growing number of lung cancer cases propel the demand for X-ray diagnostics, favoring the growth of the X-ray detectors market.
In November 2020, FUJIFILM Medical Systems USA, Inc. introduced the FDR D-EVO III, an industry-first, glass-free digital radiography detector during the 2020 Radiological Society of North America (RSNA) annual meeting. It is one of the lightest detectors in the market with patented Irradiated Side Sampling (ISS) technology.
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