X-ray Detector Market size is estimated to reach $11.30 Billion by 2025 and is poised to grow at a CAGR of 5.88% during the forecast period 2020-2025. X-ray Detector are artificial sugar substitutes. They are derived from the natural substances, such as herbs or the sugar itself. X-ray Detector are widely used in processed foods such as powdered drink mixes, desserts, jam and jelly, baked goods, dairy products, beverages, and others to keep the taste and make it healthier. The main X-ray Detector include saccharin, aspartame, and sodium benzoate. Aspartame is extensively used as a table top sweetener in the market. It is about 200 times sweeter than regular sugar and is used in low-calorie desserts, sugar-free gum, cereal, tea, coffee, yogurt, milk formulas, and others. The X-ray Detector market is growing owing to the increased awareness and health consciousness among the people, the demand for low-calorie sugar substitutes and sugar-free products is increasing. Hence, the food manufacturers produce low-calorie and sugar-free alternatives as the main products, which in turn help stimulate market growth over the forecast period 2020-2025.
X-ray Detector Market Segment Analysis – By Type
The global X-ray Detector Market based on Type, can be further segmented into Flat Panel Detectors, Line-Scan Detectors, CCD Detectors, and Computed Radiography. The Flat Panel Detectors segment registered for highest revenue in 2019 and projected to grow at the highest CAGR during the forecast period 2020-2025. This is owing to the advantages of FPD-based portable digital systems, their diminishing prices, and the increasing demand for retrofit based digital x-ray systems.
X-ray Detector Market Segment Analysis – By Application
The global X-ray Detector Market based on Application, can be further segmented into Medical Applications, Security Applications, Dental Applications, Veterinary Applications, and Industrial Applications. Supermarkets/Hypermarkets, Online Channel, Specialty Stores, and others. Supermarkets/Hypermarkets segment registered for the highest revenue in 2019 and is estimated to grow at highest CAGR of 6.2% during the forecast period 2020-2025. The Supermarkets/Hypermarkets segment registered for highest revenue in 2019 and projected to grow at the highest CAGR during the forecast period 2020-2025 owing to the one-stop shopping experience, and a wide range of availability for artificial sweeteners.
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X-ray Detector Market Segment Analysis – By Geography
The global X-ray Detector Market based on Geography, can be further segmented into North America, Asia-Pacific, Europe, and Rest of World. Asia-Pacific registered for the highest revenue in 2019 with a share of 33.9% and is set to grow at highest CAGR during the forecast period 2020-2025. The factors such as the growing number of elderly people, an increasing number of orthopedic, mammography and cardiovascular surgeries, technological advances in x-ray machines are driving the growth of the X-ray detectors market for medical applications in Asia Pacific.
X-ray Detector Market Drivers
Rising demand in the food and beverage industry to drive growth
The X-ray Detector market is gaining growth primarily owing to the increasing use of low-calorie sugar substitutes and sugar-free products. Moreover, the harmful effects of sugar, health problems, and the spread of lifestyle diseases like heart disease and diabetes have led the consumers to choose healthy alternatives like X-ray Detector which in turn boosts the market growth. Therefore, food manufacturers are promoting low-calorie and sugar-free alternatives as their main products, boosting market growth. The increase in the demand of X-ray Detector in food and beverage industry is estimated to drive the market demand during the forecast period 2020-2025.
X-ray Detector Market Challenges
Excessive intake
The long-term and excessive use leads to diabetes, which interferes with body’s ability to regulate the blood sugar is projected to hamper the market growth. The long-term consumption of the X-ray Detector leads to diarrhea, bloating, and gastrointestinal disorders. However, the high-intensity sweeteners, such as saccharin, and aspartame, causes blood related disorders, including leukemia, which even leads to death. This is acting as a major challenge for the growth of the X-ray Detector Market during the forecast period 2020-2025.
X-ray Detector Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the X-ray Detector Market. Key companies of this market Thales Group, Hamamatsu Photonics K.K, Canon, Inc, Konica Minolta Inc, Teledyne DALSA Inc, Fujifilm Holdings Corporation, Agfa-Gevaert Group, Varex Imaging Corporation, Carestream Health, Vieworks Co Ltd, Analogic Corporation, Rayence, and DRTECH.
Acquisitions/Product Launches:
In August 2020, Varex Imaging Corporation announced the partnership with Sound® Technologies. This partnership has led to the 4,000th installation of the Sound® SmartDR Veterinary Image Acquisition System, which is designed to be the easiest, and most intuitive digital radiography system ever created specifically for veterinary use.
In April 2019, Tate & Lyle has signed a multi-year agreement with Codexis Inc, for the supply and licensing of the novel Codexis performance enzymes used in the manufacture of the Tate & Lyle’s TASTEVA® M Stevia Sweetener.
Key Takeaways
Geographically, the Asia-Pacific area is poised to see extraordinary development owing to the rising health awareness among consumers concerned about obesity, diabetes in the region and is set to continue during forecast period 2020-2025.
The global demand for the X-ray Detector Market is owing to the increasing use of low-calorie sugar substitutes and sugar-free products across the globe.
The long-term and excessive use leads to diabetes, which interferes with body’s ability to regulate the blood sugar is estimated to restrain the market growth during the forecast period 2020-2025.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the X-ray Detector Market report.
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