The industrial computed radiography market was valued at USD 325.6 million in 2021 and is expected to reach USD 505.36 million by 2027 at a CAGR of 7.38% over the forecast period (2022 - 2027). The computed radiography technology offers enormous advantages for inspection tasks, and the use of consumables is virtually eliminated, further reducing the time to produce an image. These factors are expected to increase market adoption.
Key Highlights Minute details are visible and analyzable due to a higher dynamic range than a film in the traditional x-ray machines. Further, it provides a simplified workflow, a safer working environment for operators, and a more environmentally-friendly chemical-free process.
Various computed radiography vendors have improved digital radiography scanners, phosphor imaging plates, and software programs. As a result, new products have been introduced that directly meet the needs of industries such as aerospace and defense, oil and gas, etc.
Various products on the market use cylinder or flat panel scanners with software ranging from 14-bit logarithmic to 16-bit linear. Minimum pixel sizes range from 12.5-25, 25-35, 35-70, and 70-100 pixels, resulting in significantly increased essential spatial resolution, signal to noise ratio values, and grey values to fulfill many of the current standards. These have a substantial impact on the likelihood of detecting faults in materials.
Current CR scanners and phosphor imaging plates can scan resolutions of 12.5 - 25 (equal to D4/IX50 in radiography film). These fulfill the sensitivity criteria in specifications, such as 2% radiographic sensitivity or greater, and the likelihood of fault identification has increased significantly.
However, high installation costs and further technological improvements may disrupt the market.
As per the Gross Domestic Product (GDP) for the Q1 of 2020-21 released by the National Statistical Office and Ministry of Statistic and Program Institute (MOSPI) India, the impact of COVID-19 on the gross value-added of construction, manufacturing, and mining sector accounted for -12.6%, -9.4%, and -12.4%. Thus, the decline in the growth of these industries is expected to stall the market growth for a short period, impacting the market growth.
Key Market Trends
Nondestructive Testing Expected to Drive the Market Growth
Computed radiography is a sort of non-destructive testing (NDT) used in industrial settings to check the safety and integrity of manufactured components and assemblies. For example, NDT must ensure that all in-service and crucial parts are fit-for-purpose in the oil and gas business. Pipes used to transfer oil or gas are essential components to be well maintained and inspected. Hence, due to the growing demand for NDT in industries, the adoption of computed radiography techniques is also increasing in industrial applications.
Also, with the increase in automation in the industrial manufacturing and infrastructure sectors, there has been a substantial hike in demand for flaw detection related to cracks, porosity, manufacturing disorders, and so on.
Moreover, several governmental agencies and regional bodies, like the American Society of Mechanical Engineers (ASME) and the International Organization for Standardization (ISO), have been instituted to take stringent measures to ensure the safety of instruments and oversee engineering services testing. Hence, the demand for non-destructive testing is increasing across industries.
Also, computed radiography applications in aerospace include detecting internal defects in thick and complex shapes, metallic and non-metallic forms, and the quality of critical aerospace components, structures, and assemblies. Further, increasing emphasis on safety standards, decreasing service intervals, low emission targets, and new materials and processes are the major factors driving the computed radiography market in the aerospace segment.
North America Expected to Dominate the Market
North America is expected to dominate the global computed radiography market due to the increasing adoption of added radiography equipment coupled with technological advancements in the region. Additionally, key players like Fujifilm Corporation and Siemens Healthcare have a strong presence.
In September 2021, Ford and SK Innovation announced a plan to invest USD11.4 billion and create nearly 11,000 new jobs in the United States. Three new BlueOval SK battery plants, two in Kentucky and one in Tennessee enable 129-gigawatt hours a year of US production capacity for Ford.
In February 2021, President Joe Biden stated that domestic semiconductor manufacturing is a priority for the country’s administration. The new administration is poised to fix growing chip shortages and address lawmakers’ concerns that outsourcing chipmaking had made the United States more vulnerable to supply chain disruptions. In an executive action, Biden started began a 100-day review that could boost American chip companies with additional government support and new policies.
Furthermore, the expansion of healthcare in the North American region and its application in the healthcare business is boosting the area’s market growth.
The intensity of competitive rivalry in the market studied is high during the forecast period. With the technological developments in the radiography market, the vendors and end-users are expected to shift towards the new technology. Hence, the existing players are innovating their products to maintain their market share. Also, many companies view geographical expansion as a path to gaining market traction.
February 2022 - The Government of Canada announced a significant investment in the Canadian semiconductor and photonics industries. The investment of CAD 240 million is expected to help solidify Canada’s role as a global leader in photonics and may bolster the development and manufacturing of semiconductors. Over 100 domestic and international semiconductor companies are working on microchip research and development in Canada. In areas including compound semiconductors, microelectromechanical systems (MEMS), and advanced packaging, it has over 30 applied research laboratories and five commercial facilities.
March 2021 - Intel committed to two more new fabrication plants, or fabs, in Arizona. The news comes during a global chip shortage that is snarling industries from automobiles to electronics and worries the United States is falling behind in semiconductor manufacturing. The foundry is poised to manufacture a range of chips based on ARM technology used in mobile devices and has historically competed with Intel’s favored x86 technology.
The market estimate (ME) sheet in Excel format
3 months of analyst support
Our reports have been used by over 10K customers, including:
The global industrial X-ray inspection equipment and imaging software market reached a value of US$ 658.1 Million in 2021. Looking forward, the analyst expects the market to reach a value of US$ 1,015.6 Million by 2027 exhibiting a CAGR of 7.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and...
200 pages •
By The Business Research Company
• May 2022
Major players in the magnetic resource imaging devices and equipment market are Siemens Healthineers, GE Healthcare, Philips Healthcare, Hitachi Ltd., Canon Medical Systems, Esaote S.p.A Bruker Corporation, Fonar Corporation, Neusoft Medical Systems Co. Ltd., and Time Medical Co. The global magnetic resonance imaging systems devices...
The Europe Healthcare Technology Management Market would witness market growth of 10.4% CAGR during the forecast period (2022-2028). To reduce asset downtime and streamline maintenance workflows, most hospital healthcare technology management (HTM) departments now use a Healthcare Computerized Maintenance Management System (CMMS).,...
Direct Digital Radiography (DDR) X-ray Systems (Diagnostic Imaging) - Medical Devices Pipeline Product Landscape, 2021 Summary Medical Devices sector report, “Direct Digital Radiography (DDR) X-ray Systems (Diagnostic Imaging) - Medical Devices Pipeline Product Landscape, 2021" provides comprehensive...
The Global Radiology as a Service Market size is expected to reach $3,783.8 million by 2027, rising at a market growth of 22.5% CAGR during the forecast period. Radiology services refer to the medical imaging services that can be utilized for treating and diagnosing different kinds of diseases. Radiology services are considered as minimally...
2021 What’s Ahead for the Diagnostic Imaging Industry?--Emerging Opportunities and Growth Strategies for Suppliers A worldwide strategic overview of the diagnostic imaging market, including:·Estimates of the market size and growth.·Sales forecasts by geographic region and modality.·Review...
The global contrast media/ contrast agents market is projected to reach USD 5.9 billion by 2026 from USD 4.9 billion in 2021, at a CAGR of 3.7% during the forecast period. The growth in this market can be attributed to the rising prevalence of chronic diseases, growing approvals of contrast agents, rising volume of CT and MRI examinations...
The global diagnostic imaging market is projected to reach USD 35.0 billion by 2026 from USD 26.6 billion in 2020, at a CAGR of 5.7% from 2021 to 2026. The growth of this market is primarily driven by the increasing demand for early disease diagnosis and widening scope of clinical applications, rapidly growing geriatric population and the...
What’s Ahead for the Diagnostic Imaging Industry?--Emerging Opportunities and Growth Strategies for Suppliers A worldwide strategic overview of the diagnostic imaging market, including:·Estimates of the market size and growth.·Sales forecasts by geographic region and modality.·Review...
2021 What’s Driving the Diagnostic Imaging Industry?--SWOT Analysis of Leading Suppliers A worldwide strategic overview of the diagnostic imaging market, including:·Estimates of the market size and growth.·Sales forecasts by geographic region and modality.·Review of the U.S....
Medical Devices Sales
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.