X-RAY DETECTOR MARKET - INDUSTRY ANALYSIS, SIZE, SHARE by 2024 X-RAY DETECTOR MARKET SIZE by 2024 | Page 2

Regulatory impositions are also restraining the growth owing to diversity
of severe regulations. Certification of Compliance with a particular
country’s radiation standards is not acceptable to major other regulatory
standards. Moreover, excise taxes on medical devices in certain countries
restrain growth. For instance, the U.S. Government levies heavy excise
on medical device manufacturers, importers and consumers. Strict
regulatory procedures for launching a product, coupled with high initial
costs are projected to substantially hamper growth. Scarcity of skilled
professionals for conventional operation of devices may hinder revenue.
Existing infrastructure of diagnostic radiology centers may provide
opportunities for wireless detectors due to portability and power saving
features. 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.
By product, the industry is segmented into FPD, computed radiography
(CR), line scan and charge couple device (CCD). FPD segment
accounted for the largest x-ray detector market share owing to decreasing
costs, technological advancements and precision in the outputs. FPDs are
further segmented based on portability, panel size and system type.
The industry is further segmented into medical, dental, security, industrial
and veterinary segments based on application. Medical application is
projected to grow at a significant rate owing to requirements in
cardiovascular and mammography procedures, increasing geriatric and
orthopedic population. Demand will also be driven by several government
agencies, including custom authorities, emergence responders,
homeland security department and military.
U.S. x-ray detector market share will remain considerable due to high
adoption rates of digital imaging system. Asia Pacific is expected to
register significant CAGR due to elderly population base, increasing
awareness among the population and less stringent regulations. Steadily
developing economies such as China, India, Brazil, Mexico and Russia
may witness the highest CAGR in the forecast period and provide a
platform for growth. Upgrades for existing installations are expected to
drive the European industry, particularly across the air cargo and border
security applications.
Key participants in the industry include Varian Medical Systems,
Perkinelmer, Canon, Konica Minolta, Thales Group, Agfa-Gevaerf Group,
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