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The global flat panel detector market size was USD 0.96 Billion in 2022 and is expected to register a revenue CAGR of 4.0% during the forecast period

VANCOUVER, BRITISH COLUMBIA, CANADA, June 4, 2024 /EINPresswire.com/ -- The global flat panel detector (FPD) market, valued at USD 0.96 billion in 2022, is projected to grow at a compound annual growth rate (CAGR) of 4.0% during the forecast period. Key factors propelling this growth include increased investments in digital imaging technologies, the advantages of digital detectors, and a rising prevalence of bone and joint disorders.

Key Market Drivers

Flat panel detectors (FPDs) are revolutionizing medical imaging by converting X-rays into digital images without distortion. This results in reduced radiation doses and improved image quality, enhancing patient diagnosis and treatment. Advanced X-ray detectors enable healthcare professionals to screen more patients efficiently, reducing costs and saving time.

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Government support and investments are expected to expand access to these technologies, further boosting market growth. Additionally, the increasing incidence of bone and joint disorders is driving demand for FPDs.

Market Applications and Segments

FPDs are utilized in various fields including medical, dental, security, veterinary, and scientific research. In the medical sector, they are crucial for X-ray, CT, and PET scans. They are also essential in security systems and scientific research for detecting X-rays and gamma rays.

Segment Insights

Portability: The market is segmented into fixed and portable detectors. Portable detectors dominated the market in 2022 due to their high spatial resolution, ease of use, flexibility, and wide application range. They are preferred in digital radiography for their superior size, weight, durability, and image quality.
Application: The medical segment held the largest market share in 2022, driven by the growing focus on radiological diagnostics, the rising burden of chronic diseases, and advancements in X-ray technology. The demand for diagnostic imaging tests, such as CT and MRI scans, is increasing, especially in emerging markets with a high incidence of lung diseases and cancer.
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The dental segment is expected to register the fastest CAGR during the forecast period, benefiting from enhanced diagnostic capabilities, reduced radiation doses, and detailed imaging. This growth is fueled by the increasing demand for implantology, prosthodontics, oral surgery, and other dental specialties.

End-Users: Hospitals and diagnostic centers are the primary end-users of FPDs. Hospitals dominated the market in 2022 due to the high adoption rate of FPDs, particularly in dental hospitals where CBCT scans are widely used for accurate implant placement and bone size determination.
Market Restraints

The high cost of digital X-ray systems remains a significant challenge. However, strategic collaborations, such as the agreement between Smiths Detection and Bharat Electronics Limited (BEL) to manufacture advanced X-ray screening technologies in India, are expected to drive demand and mitigate cost concerns.

Flat Panel Detector Top Companies and Competitive Landscape

The global flat panel detector market is fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective flat panel detector solutions.

Some major players included in the global flat panel detector market report are:

Agfa-Gevaert Group
Canon Inc.
Varex Imaging
FUJIFILM Holdings America Corporation
Konica Minolta, Inc.
Analogic Corporation
Rayence
Comet Group
PerkinElmer Inc.
Hamamatsu Photonics K.K.

Flat Panel Detector Latest Industry Updates

On November 2022, Varex Imaging Corporation showcased its advances in X-ray technology at the 2022 Annual Radiological Society of North America conference in Chicago, USA. Varex's photon-counting experts present the science, the benefits, and how its photon-counting X-ray detectors make the invisible visible. In addition, Varex also demonstrated how radiology departments can reduce dependency on scarce helium without compromising MR productivity and diagnostic confidence by adopting sustainable MR operations. Varex also presented its AZURE flat panel detector that delivers industry-leading technology, expertly engineered to deliver smoother motion and faster integration with high speed and low noise for real-time image applications.

On November 2022, Konica Minolta Healthcare Americas, Inc., a leader in healthcare information technology medical diagnostic imaging, announced the introduction of new DR (digital radiography) solutions that is expected to continue to transform the X-ray clinical value. Konica Minolta Healthcare Americas, Inc. is also expected to extend this upgrade to the new KDR Flex Overhead X-ray System. The KDR Flex Overhead X-ray device is a next-generation smart radiography system that provides an array of workflow innovations and incorporates DDR.

Flat Panel Detector Market Segment Analysis

For the purpose of this report, Emergen Research has segmented global Flat Panel Detector market on the basis of portability, application, end-users, and region:

Portability Outlook (Revenue, USD Billion; 2019-2032)
Fixed Detectors
Portable Detectors

Application Outlook (Revenue, USD Billion; 2019-2032)
Medical
Dental
Security
Veterinary
Other Applications

End-Users Outlook (Revenue, USD Billion; 2019-2032)
Hospitals
Diagnostic centers

Regional Outlook (Revenue, USD Billion; 2019–2032)
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Russia
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
ASEAN Countries
Oceania
Rest of APAC
Latin America
Brazil
Mexico
Rest of LATAM
Middle East & Africa
GCC Countries
Israel
Turkey
South Africa
Rest of MEA
Future Outlook

The global flat panel detector market is set for steady growth, driven by technological advancements and increased government support. As the prevalence of chronic diseases continues to rise, the demand for efficient and cost-effective diagnostic imaging solutions will remain strong, further propelling market growth.

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