X-Ray detector Software Market – Growth, Trends, and Forecasts (2022 to 2029)

X-Ray detector Software Market was valued at US$ 2.75 Bn. in 2021. The Global X-Ray Detector Software Market size is estimated to grow at a CAGR of 5.6 % over the forecast period.
X-Ray detector Software Market Overview:
The report explores the X-Ray detector Software market’s segments (Type and Application). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the X-Ray detector Software market’s drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the X-Ray detector Software market’s contemporary competitive scenario.



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X-Ray detector Software Market Dynamics:
Investments to advance healthcare facilities & digital imaging technologies

Ever-increasing pressures to cut public expenditure have obliged healthcare systems across the globe to justify their internal spending. The high cost of X-ray detectors systems, however, is a major challenge for hospitals. In this scenario, the effective use of advanced equipment such as X-ray detectors systems can advantage healthcare providers, as these systems can screen a larger number of patients at lower costs. As a result, a cumulative number of government organizations and venture capitalists worldwide are focusing on investing in X-ray detector equipment in their respective healthcare systems. Rising support, funds, and investments will greatly drive access to and the adoption of these technologies, which is expected to support market growth.

A significant rise in the adoption of refurbished x-ray units:

Numerous hospitals in developing countries cannot invest in X-ray detector equipment (such as X-ray detector units, and high-end CT scanners) due to budget constraints, high equipment costs, and poor reimbursement rates. However, because of the strong demand for X-ray detector procedures globally, hospitals that cannot afford to invest in new imaging systems opt for refurbished ones. This is because refurbished systems are priced lesser than new systems (40–60% of the price of new equipment). Many independent suppliers provide high-end refurbished and reused systems at a significantly lower price.

Rising healthcare expenditure across developing countries is creating an upsurge in the opportunities:

The fast-economic development and increasing healthcare expenditure in several emerging countries, such as China, India, Brazil, and Mexico, are expected to progress access to quality healthcare in these countries. This is considered a positive indicator for the X-ray detectors market. The increasing incidence of breast cancer and cardiovascular diseases in these countries is driving the demand for various X-ray detector devices and techniques. Moreover, governments across these countries are focused on providing modern & advanced healthcare services to larger proportions of their population and improving reimbursement coverage. Rapid development in the per-capita healthcare expenditure and the growing public demand for affordable healthcare services are fueling the growth of healthcare products (including X-ray devices) across these countries. This is evidenced by the overall increase in healthcare expenditure. For example, the healthcare expenditure of India increased from 1.3% to 2.8% of the total GDP from 2019 to 2020. In China, healthcare expenditure rose from 13.6% to reach ~USD 930 billion, as the government has raised spending in the healthcare sector amid the COVID-19 pandemic (Source: Healthcare Asia).

X-Ray detector Software Market Trends:

An X-ray is a form of electromagnetic radiation that has high energy and can pass through most objects, including the body. Among many applications of X-rays such as veterinary, medical, dental, industrial, and security, it is most extensively used in medical imaging to create images of tissues and structures inside the body. For medical imaging, an X-ray beam is passed over the body where a portion of X-rays is either absorbed or scattered by internal structures, and the outstanding X-ray pattern is transmitted to a detector. X-ray detectors are devices that are used to measure flux, spatial distribution, spectrum, and other properties of X-rays. The most common methods of X-rays in medical imaging include X-ray radiography, computed tomography (CT), mammography, and angiography. X-ray radiography can be used to detect or diagnose bone fractures; infections such as pneumonia; and calcifications including kidney stones. Moreover, technological advancements in radiography have brought wide-scale adoption of digital radiography in all relevant industries. The market is majorly driven by a rise in demand for digital imaging technologies. Moreover, numerous advantages that digital detectors offer further drive the growth of the X-ray detector market. Also, favorable reimbursement policies for X-ray diagnostics drive the growth of the market. Though, the high cost of digital X-ray systems is anticipated to restrict the growth of the market. On the contrary, an upsurge in demand for wireless X-ray detectors and growth in medical tourism in developing countries are expected to offer lucrative opportunities for market expansion during the forecast period.
X-Ray detector Software Market Segment Analysis:
By type, the X-ray detectors market is segmented into flat-panel detectors (FPDs), computed radiography (CR) detectors, charge-coupled device (CCD) detectors, and line-scan detectors. The FPDs segment has dominated the largest market share accounting for XX% in 2022 and is expected to grow at a CAGR of 3.8% during the forecast period. There are certain benefits associated with the FPDs that are driving the market’s growth are such as easier positioning during clinical studies, lack of geometric distortion and chemical processing, uniform response across the field of view, and sensitivity to temperature variations with better patient access, is expected to drive the growth of the FPDS market in the coming years. The declining prices of FPDS and the growing adoption of retrofit FPDS are other major factors supporting the growth of the FPDS market.



By application, the X-ray detectors market is segmented into medical applications, dental applications, security applications, veterinary applications, and industrial applications. The medical segment has dominated the largest market share accounting for XX% in 2022 and is expected to grow at a CAGR of 3.8% during the forecast period. There are some factors associated with the medical segment that is leading to the growth of the market such as the growing geriatric population; an increasing number of orthopedic, mammography, and cardiovascular procedures; and technological advancements in X-ray devices are driving the growth of the market for medical applications.
X-Ray Detector Market Regional Insights:
The North American region is also expected to grow at the highest CAGR during the forecast period. Owing to the presence of key players that offer popular X-ray detectors in the region, well-established healthcare facilities, growth in the number of medical imaging procedures, favorable reimbursement policies, rise in threats of terrorism, a large focus on product quality & non-destructive testing, and growth in adoption of pets & animal farming.

Asia-Pacific is expected to grow at the fastest rate during the forecast period, owing to an increase in healthcare expenditure, growth in medical tourism, rise in adoption of technologically advanced X-ray imaging products, presence of a large geriatric population, and focus on skill development in the region, which also offers lucrative opportunities for the X-ray detector market. The market growth is mainly driven by a growing geriatric population, particularly in Japan; increasing disposable incomes, allowing for greater affordability to advanced technologies; the rising prevalence of target diseases; and favorable government initiatives. Moreover, market players also focus on expanding their presence in the APAC healthcare imaging industry. For instance, in August 2020, Detection Technology Plc expanded its operational and production capacity by establishing a new production unit in the Greater Shanghai area, China. Moreover, in December 2018, the Thales Group established its new subsidiary, Trixell Medical Devices (Shanghai) Co. Ltd., in China.

The objective of the report is to present a comprehensive analysis of the global X-Ray detector Software Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear, futuristic view of the industry to the decision-makers.

The reports also help in understanding the X-Ray detector Software Market dynamic and structure by analyzing the market segments and projecting the X-Ray detector Software Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the X-Ray detector Software Market make the report investor’s guide.
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Global X-Ray detector Software Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US$ 2.75 Bn.


Forecast Period 2022 to 2029 CAGR:
5.6%
Market Size in 2029:
US$ 4.25 Bn.


 Segments Covered:
by Type
• Flat-panel detectors (FPDs)
• Computed radiography (CR) detector
• charge - couple device (CCD) detectors
• Line - Scan detectors


by Application
• medical application
• dental application
• security application
• veterinary application
• industrial application



X-Ray detector Software Market by Region:
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• South America
X-Ray detector Software Market Key Players:
• GENERAL ELECTRIC COMPANY
• TOSHIBA CORPORATION
• Koninklijke Philips N.V.
• Carestream Health. (US)
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
• Ziehm Imaging GmbH
• Canon Inc.
• FUJIFILM Holdings Corporation
• GMM PFAUDLER
• Danaher
• PLANMECA OY
• VATECH
• Villa Sistemi Medicali Spa
• Midmark Corporation
• Apteryx Imaging Inc
• Varian Medical Systems, Inc
• Hamamatsu Photonics K.K.
• KA Imaging

Frequently Asked Questions:

1] What segments are covered in the X-Ray detector Software Market report?
Ans. The segments covered in the X-Ray detector Software Market report are based on Type and Application.

2] Which region is expected to hold the highest share in the X-Ray detector Software Market?
Ans. The North American region is expected to hold the highest share in the X-Ray detector Software Market.

3] What is the market size of the X-Ray detector Software Market by 2029?
Ans. The market size of the X-Ray detector Software Market by 2029 is US$ 4.25 Bn.

4] What is the forecast period for the X-Ray detector Software Market?
Ans. The Forecast period for the X-Ray detector Software Market is 2022-2029.

5] What was the market size of the X-Ray detector Software Market in 2022?
Ans. The market size of the X-Ray detector Software Market in 2022 was US$ 2.90 Bn