The X-ray detectors market is expected to reach USD 2.89 billion by 2021, at a CAGR of 5.5 percent over the next 5 years, predicts Markets and Markets. Major elements driving the growth of this market are technological advancement, rising geriatric population, rising incidences of orthopedic, mammographic and cardiovascular procedures, and increasing usage of imaging technology. On the other hand, high initial cost of digital X-ray systems, stringent regulatory procedures for product approvals and dearth of skilled professionals are major factors restricting the growth of this market.
Flat-panel detectors (FPDs) segment is expected to witness the highest growth during the forecast period due to the widespread use of these detectors in radiography.
North America is expected to dominate the market in 2016, with USA accounting for a major share. However, Asia is expected to grow at the highest CAGR during the forecast period, The high growth in this market is attributed to the growing geriatric population, growing adoption of digital imaging systems, rising disposable income, growing number of awareness programs and symposia, and growing venture capital investments.