Albany, NY -- (SBWIRE) -- 01/28/2019 -- The global a-Si X-ray flat panel detectors market was valued at US$ 924.7 Mn in 2017 and is projected to expand at a cumulative annual growth rate (CAGR) of 5.2% from 2018 to 2026 according to a new report published by Transparency Market Research (TMR) titled "Global a-Si X-ray Flat Panel Detectors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2028" the report suggests that increase in number of dental and orthopedic visits and rise in demand for dynamic image are estimated to boost the a-Si X-ray flat panel detectors market between 2018 and 2026. North America and Europe are projected to dominate the global market, owing to an increase in the demand for efficient and effective management of digital radiography, high healthcare IT budgets, and, high adoption of digital platforms for appointment scheduling and treatment planning by dentists, orthopedist, as well as patients. The market in Asia Pacific is projected to expand at an exponential growth rate of more than 5.6% during the forecast period. Expansion of the market in Asia Pacific is attributed to the large base of dental clinics and hospitals, rise in number of geriatric population requiring dental services, and increase in adoption of digital technologies in dental, orthopedic, oncology, and practices. The market for a-Si X-ray flat panel detectors market in Latin America is likely to expand at a moderate growth rate during the forecast period.
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Increase in number of radiography tests performed globally, each year, to fuel market
The global health care industry is witnessing increasing number of diagnostic imaging tests being performed each year, owing to several factors including rise in focus on minimally invasive diagnostic tests, surge in prevalence of chronic diseases, and other macro-economic factors such as increase in per capita health care expenditure. Higher incidence of cancer and sports injuries presents a large patient pool undergoing diagnostic imaging tests each year, especially in emerging countries.
New digital X-ray system dominates the market and the segment is estimated to hold considerable market share during the forecast period
Health care facilities are constantly shifting from computed radiography (CR) systems to digital radiography (DR) systems. New digital X-ray systems help medical professionals to understand the disease in the early phase.
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The portable segment is projected to lead the a-Si X-ray flat panel detectors market
Availability of new and innovative products in the market and increasing preference for portable detectors by small hospitals are key factors responsible for the high growth rate of the portable segment.
In terms of application, the market has been segregated into cardiovascular, oncology, orthopedic, dentistry, and others. The dentistry segment is likely to account for a leading share of the market during the forecast period. The factors attributed to the higher share held by the segment include rise in number of dental CBCT scans performed every year, reduced image-processing time, and enhanced visual image quality.
Asia Pacific offers significant business development opportunity
North America and Europe accounted for a key share of the global a-Si X-ray flat panel detectors market in 2017. They are likely to gain market share by the end of 2026. High adoption of a-Si X-ray flat panel detectors, high digital healthcare IT budgets, and government initiatives to promote digital healthcare facilities have contributed to the leading share held by these region in the global a-Si X-ray flat panel detectors market. Asia Pacific is projected to be a highly attractive market for a-Si X-ray flat panel detectors. The market in Asia Pacific is projected expand at a high CAGR of over 5.5% during the forecast period, due to a large number of dental and orthopedic clinics in emerging countries such as India, China, and well-established dental facilities and high digital healthcare IT budgets in countries such as Japan, Australia & New Zealand, Malaysia, and Singapore. The market in Latin America and Middle East & Africa is anticipated to expand at a moderate growth rate during the forecast period.
Key trend of acquisition and collaboration among the leading players to increase geographic presence has been observed in the last few years.
The report also provide profiles of leading players operating in global a-Si X-ray flat panel detectors market. Varex Imaging Corp, Konica Minolta, Inc., Carestream Health , Agfa-Gevaert Group, and FujiFilm Holdings and Vieworks Co are a few leading players operating in the global a-Si X-ray flat panel detectors market, accounting for a significant market share. Companies operating in the market are aiming to increase their geographic presence by means of strategic acquisitions and collaborations with leading players in respective domains and geographies. In May 2017, Varex Imaging Corporation completed the acquisition of the medical imaging business of PerkinElmer, Inc. This acquisition enabled Varex Imaging Corporation to strengthen its product offerings in the a-Si flat panel detectors market, along with adding CMOS flat panel detectors to its offerings.
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