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Flat Panel X-Ray Detectors Market

Flat Panel X-Ray Detectors Market
Flat Panel X-Ray Detectors Market - Technological Advancement to Fuel Overall
market Demand
PerkinElmer, Konica Minolta, Inc., Rayence, Inc., and Olympus Corporation
collectively account for around 56.1% of the overall share in global flat panel x-ray
detectors market in 2015. The strong presence of these firms in the market are
overshadowing the smaller shares accounted by other regional firms. These players
are foreseen to keep on dominating the market in forthcoming years as well, as per
the revenue rates and size. Moreover, it is expected to experience a high level of
competition in upcoming years. The players are working on bringing cost-effective,
advanced, and improved advanced flat panel detectors.
According to a recent report published by Transparency Market Research (TMR), the
global flat panel x-ray detectors market is anticipated to expand at a robust CAGR of
5.9% within the forecast period from 2016 to 2024. In 2016, the market was valued
around worth of US$1.08 bn. This figure is expected to reach around worth of
US$1.7 bn by the end of 2024.
On the basis of application, the global flat panel detectors market is segmented into
semiconductors, manufacturing, security, construction, and bomb disposal. Among
these, the manufacturing sector is estimated to account for the major market share
during the forecast period. Geographically, in 2015, North America bagged the
highest share in the global flat panel X-ray detectors market, because of the rise in
usage of these detectors in bomb disposal and security services. The segment is
expected to lead the global market owing to the consistent usage of the above
mentioned applications along with the rising usage in manufacturing sector.
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Technological Advancement to Fuel Overall market Demand
The emergence of new and advanced technologies are taken positively by most of the
regions around the world, which contributes in the surge in demand for advanced
flat panel X-ray systems. The global flat panel x-ray detectors market also witnessing
a growth due to reduction in price of flat panel technologies, as the manufacturing
rates are surging in the nations for example, China and India. Moreover, owing to
advancement in radiology is also expected to help the market growth. Manufacturing
firms are adopting the flat panel x-ray detectors increasingly so as to have an edge
over the other firms in the market and improve product quality as well.
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Strict Regulations Regarding Usage of Flat panel X-ray to Hinder Market Growth
However, among a few restricting factors hampering the market growth, the stringent
regulations regarding the flat panel x-ray detectors is a major one. Flat panel
detectors come under the radiation devices and radiation emission category. This
results in extra pressure on the manufacturing firms to build devices that would be
considered safe to use under certain norms. Nevertheless, the developing economies
are presently depicting an immensely promising scope of opportunities in flat panel xray detectors. South Africa, India, Brazil, and , China are some of the important
nations which are targeting on the basis of rise in sales of flat panel x-ray detectors
along with better manufacturing services.
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