The medical flat panel detector market remains a highly fragmented and competitive sector, with 15 vendors having at least a 2% market share each. Varex leads with 18%, followed by Trixell Thales in second position and iRay in third position completing the top three.
Chinese FPD vendors gained market share in 2020, due to increased production and surplus inventory to supply to mobile X-ray system manufacturers. As a result, companies such as iRay, Careray and PZ Technology increased their market share in 2020.
Chinese FPD companies continue to drive an aggressive price war, forcing international FPD vendors to reevaluate supply chains and open production facilities in lower-cost countries such as China.
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In the coming years, a key opportunity for vendors with cost-efficient FPDs is expected to be developing markets, such as Latin America, Africa and parts of Asia. With many of the countries in these regions having large installed bases of analog or computed radiography systems, there will be ongoing digitalisation as the affordability of digital X-ray systems continues to increase.
Future outlook
As the low-end FPD market continues to become saturated and the price war continues, with newer Asian FPD vendors increasing market presence globally, margins for FPD vendors are increasingly at stake. After years of double-digit price erosion, medical FPD prices are forecast to stabalise with only single-digit price annual declines forecast through to 2025. As a result, FPD vendors are progressively investing in research and development to upgrade their product lines to showcase latest hardware innovation and establish a niche. Such developments include IGZO, flexible detectors, photon counting and addition of AEC chambers on the detectors themselves. Target markets for these higher-end FPD products include developed countries and high-end hospitals where clinical precision is still paramount.
About the authors: Bhvita Jani and Graham Cooke are market analysts with Signify Research, an independent supplier of market intelligence and consultancy to the global healthcare technology industry. Signify's major coverage areas are Healthcare IT, Medical Imaging and Digital Health. Its clients include technology vendors, healthcare providers and payers, management consultants and investors.
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