According to a new report, the global market for x-ray detectors is projected to reach $2.89 billion by 2021, growing at a compound annual growth rate of 5.5%. Market research firm MarketsandMarkets reports that growth is mainly driven by factors such as technological advancements, rising geriatric population, government and venture capital funding, rising incidences of orthopedic and cardiovascular procedures, and reimbursement cuts for analog systems.

Factors such as development of wireless detectors, growing medical tourism in Asian countries, and untapped emerging markets offer opportunities, while the high initial cost of digital x-ray systems and stringent regulatory procedures for product launch may hinder growth.

The report segments the x-ray detectors market based on type, application, and region. The analysis is divided into flat panel detector market by type of systems, panel size, and portability. This particular segment is expected to account for the largest share of the x-ray detectors market, by type, in 2016.

For more information, visit MarketsandMarkets.