In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSSeptember, 2021: Carestream Health, Inc. to provide diagnostic imaging systems to Health First’s Holmes Regional Medical Center in Melbourne.
August, 2021: J. MORITA Corp. announced the agreement to acquire SK Medical Electronics Co., Ltd., the global manufacturer of dental laboratory, medical, scientific and industrial equipment.
Global Flat Panel Detector (FDP) -Based X-Ray Market Highlights over 2022 – 2030
The global flat panel detector (FDP) -based X-ray market is estimated to grow at a notable CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the advantages of FDP over image intensifiers, including high contrast resolution, and additional greyscale. FDP based X-ray is a screening device that provides large field of view (FOV), and permits real-time observation, which is estimated to boost the market growth. Moreover, these advantages of FDP-based X-ray make it a highly preferred diagnosis method for lungs, heart, and other sensitive organs. In addition to this, the increasing prevalence of chronic diseases, including, cardiovascular, respiratory, kidney, and digestive issues, are foreseen to provide major growth opportunities to the market. According to the data by the World Health Organization (WHO), chronic obstructive pulmonary disease (COPD) caused 3.23 million deaths, while asthma caused 461,000 deaths in 2019. Moreover, 17.9 million deaths were caused by CVDs in the same year. Furthermore, the adoption of advanced technology in the healthcare sector is projected to encourage the market growth in the upcoming years. Several other factors, such as, growing global geriatric population, higher health awareness, and demand for efficient diagnosis, are anticipated to fuel the market growth.
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The market is divided by type into direct, and indirect, out of which, the direct segment is anticipated to hold the notable share in the global flat panel detector (FDP) -based X-ray market over the forecast period as direct FDP converts x-ray photons directly into electric charge. This provides high spatial resolution, and small pixel sizes, which is desirable to identify micro calcifications. Such factors are estimated to boost the segment growth.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Flat Panel Detector (FDP) -Based X-Ray Market Regional Synopsis
On the basis of geographical analysis, the global flat panel detector (FDP) -based X-ray market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Europe region is estimated to witness noteworthy growth over the forecast period on the back of high demand for health check-ups and diagnosis, backed by elevated health awareness amongst the people. Moreover, the disposable income of majority of the population is high in developed countries, such as, United Kingdom, Germany, France, Hungary, Netherlands, and others. This is also anticipated to boost the regional market growth.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the high healthcare expenditure per capita, easy availability of efficient treatment facilities, and advancements in healthcare sector. According to the data by the World Bank, the total health expenditure per capita of North America amounted to USD 10,050.516, in 2018. Moreover, the higher adoption of technology in the healthcare sector in the region is expected to fuel the market growth.
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The global flat panel detector (FDP) -based X-ray market is further classified on the basis of region as follows:
Market Segmentation
Our in-depth analysis of the global flat panel detector (FDP) -based X-ray market includes the following segments:
By Type
By Process
By Application
By End-User
Growth Drivers
Challenges
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The growing demand for efficient imaging diagnosis devices in the healthcare sector to boost the market growth.
The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2022 – 2030.
The market in the North America is estimated to provide most growth opportunities owing to the high healthcare expenditure and R&D activities in the region during the forecast period.
The major players in the market are Terumo Corporation, Carestream Health, Inc., Becton, Dickinson and Company, Genoray Co., Ltd., Johnson & Johnson Services, Inc., Baxter International, Inc., Koninklijke Philips N.V., J. MORITA Corporation, and Siemens AG.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, process, application, end-user, and by region.
The hospital segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
The higher cost of FDP is estimated to hamper the market growth.
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