The size of the X-Ray Detectors Market in the Asia Pacific is predicted to be worth USD 811.15 million by 2027 from USD 595.67 million in 2022, growing at a CAGR of 6.37% from 2022 to 2027.
Various applications of X-ray detectors in diagnosing chronic diseases, radiotherapy, and medical imaging are among the significant factors propelling the market growth. It has been proven to be more efficient and comfortable than old models due to the addition of tungsten, which is helpful, especially in mammography. Portable X-ray detectors are a result of continuous research and technological advancements in the field of detectors. This invention has proven to be a valuable tool for diagnosing and monitoring patients in the healthcare setting due to its increased ease of use and versatility. These have assisted in lowering the overall cost of the procedure as well as the use of ambulances and taxis. Additionally, it has encouraged on-the-spot diagnosis and helped remove geographic barriers, giving it advantages over traditional x-rays, and further fuelling the market’s growth rate.
In addition, the growing emerging economics of this region, increasing availability of improved medical services, rising expenditure for device installation, increasing burden of diseases requiring diagnosis, and increase in medical tourism in developing countries are anticipated to boost the growth of the X-ray detectors market in the Asia Pacific in the coming years.
However, the high costs associated with x-ray detectors are primarily inhibiting the market's growth rate. Because x-ray detectors are expensive compared to the other alternatives, their adoption is on the decline among the Asia-Pacific region's low- and middle-income countries. Furthermore, the rising awareness among people for increased exposure to x-rays leading to various disorders such as hair loss and fainting further negatively impacted the market's growth over the forecast period.
This research report on the APAC x-ray detectors market has been segmented and sub-segmented into the following categories:
By Digital Systems:
The APAC X-ray detectors market is one of the fastest-growing regions in the global market. The APAC region is mainly attributed to increasing healthcare expenditure due to increased medical tourism in this region in recent years, resulting in increased availability of better medical services and a high rate of technological developments in the regional market. Among APAC's significant countries, including Australia, India, Indonesia, China, Thailand, South Korea, New Zealand, and Japan, South Korea are technologically advanced compared to other countries. The proof would be the development of an innovative medical imaging technology company, Nano-X Imaging, which has also received an additional capital investment of $20 million from current shareholder SK Telecom. These technologies further help in the high adoption of detectors.
The Chinese market is expected to lead during the forecast period in the Asia-Pacific region owing to the growth of numerous industries in the nation and the rising demand for diagnostic tools like X-rays brought on by the expansion of the health sector. This has helped China emerge as a significant investment destination for market players, resulting in the country's rapid economic growth. In addition, the various initiatives taken by the government to accelerate the adoption of X-ray detectors are further propelling market growth.
On the other hand, Japan is expected to contribute significantly to the APAC region owing to the implementation of the Integrated Community Care System policy, which led to a decrease in overall spending and improved care standards.
KEY MARKET PLAYERS:
Varian Medical Systems (U.S.), PerkinElmer, Inc. (U.S.), Agfa-Gevaert Group (Belgium), Carestream Health (U.S.), Vieworks Co., Ltd (South Korea), Analogic Corporation (U.S.), Rayence (South Korea), Thales Group (France), Canon, Inc. (Japan), Konica Minolta, Inc. (Japan), Teledyne DALSA Inc. (U.S.), Fujifilm Holdings Corporation (Japan), YXLON International GmbH (Germany), DRTECH (Korea), and Hamamatsu Photonics K.K. (Japan) are some of the prominent companies operating in the APAC x-ray detectors market.
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