The industrial computed radiography market was valued at USD 298 million in 2020 and is expected to register a CAGR of 7% over the forecast period (2021 - 2026). 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.

- Also, due to a higher dynamic range as compared to a film in the traditional x-ray machines, minute details are visible and analyzable. Further, it provides a more simplified workflow, a safer working environment for operators, and a more environmentally-friendly chemical-free process.
- Additionally, benefits like the imaging plates are reusable, no darkroom or chemicals needed, reduction in exposure and processing time, software-based evaluation and reporting, simple digital information exchange and archiving are further augmenting the market growth.
- Also, a typical application for Computed Radiography (CR) is the quantification of corrosion effects in the pipe. The inspection for corrosion in pipes is one of the most important non-destructive testing precautions measures in industrial applications.
- However, high installation costs and a further improvement in technologies may disrupt the market.

Key Market Trends

Nondestructive Testing Expected to Drive the Market Growth

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- As a type of nondestructive testing (NDT), computed radiography is a powerful tool for the industrial applications used to ensure the safety and integrity of manufactured components and assemblies. For instance, Oil and gas industry requires NDT to ensure each components, in-service and critical, are fit-for-purpose. Pipes that are used to transfer oil or gas are amongst the critical component that needs to be well maintained and inspected. Hence, due to the growing demand for NDT in industries, the adoption of computed radiography techniques are 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 the 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 across the world to take stringent measures for assuring the safety of instruments and overseeing of engineering services testing. Hence, the demand for nondestructive testing is increasing across the industries.
- Also, computed radiography applications in aerospace, include detection of internal defects in thick and complex shapes, in metallic and non-metallic shapes, quality of critical aerospace components, structures, and assemblies. Further, increasing emphasis on safety standards, decreasing service intervals, low emission targets, and the advent of new materials and process 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 increasing adoption of computed radiography equipment coupled with technological advancements in the region. Additionally, key players like Fujifilm Corporation and Siemens Healthcare have a strong presence in the region.
- The region is developing consistently as the key market players are innovating and investing with the incessant launch of computed radiography equipment.
- Also, its application in the healthcare industry is augmenting the market growth in the region due to the growth of healthcare in the North America region.

Competitive Landscape

The competitive landscape of the global industrial computed radiography market is highly concentrated due to the presence of fewer vendors in the market holding the majority market share. With the technological developments in the radiography market, the vendors and end-users are expected to shift towards the new technology and hence the existing players are innovating their products to maintain their market share. Also, many companies are viewing geographical expansion as a path to gaining market traction.

- September 2019 - Philips will showcase its integrated radiation oncology portfolio at the American Society of Radiation Oncology (ASTRO) annual meeting, which is to be held from September 15-18 in Chicago. The Philips IntelliSpace Radiation Oncology is an intelligent patient management solution to manage complexity, improve efficiency and enable operational excellence in radiotherapy departments.

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