by Portable X-ray devices are compact and lightweight medical imaging devices used for taking X-rays of the parts of the body. These are generally used in emergency care settings, operating rooms, and urgent care facilities where patient mobility is essential. The devices provide quick diagnosis and allow the physician to take X-rays of patients who may not be able to be transported to stationary radiology equipment such as in the case of trauma patients or patients in operating rooms.
The Portable X-Ray Devices Market is estimated to be valued at Us$ 7676.84 Mn or in 2023 and is expected to exhibit a CAGR Of 9.2% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing geriatric population base and subsequent rise in age-related illnesses and trauma injuries are key factors driving demand for portable X-ray devices. According to WHO, between 2015 and 2050, the proportion of the world’s population over 60 years will nearly double from 12% to 22%. The elderly are more prone to injuries such as fractures from falls, thus necessitating quick point-of-care imaging. Moreover, growing demand for home healthcare and increasing focus on patient-centered care is augmenting the demand for portable X-ray devices globally. Patients requiring prolonged hospitalization or respiratory illnesses such as COVID-19 benefited significantly from portable X-ray devices as these enable imaging at the patient’s bedside without disrupting their treatment.
Segment Analysis
The portable X-ray devices market is dominated by the mobile X-ray devices segment. Mobile X-ray devices hold over 60% of the market share owing to their enhanced portability and convenience compared to other segments like handheld X-ray devices and tabletop X-ray devices. Mobile X-ray devices provide better imaging quality and precision alongside easy movability, which makes them a preferred choice for applications like on-site machinery inspections, surgery checks, and emergency medical care facilities.
PEST Analysis
Political: Changes in healthcare policies and regulations regarding the approval and usage of medical imaging devices impact the market. Stringent quality standards and certifications are required for new product launches.
Economic: The market exhibits high growth prospects in developing countries owing to rising healthcare spending and infrastructure development. However, costs associated with new product development and maintenance of existing devices influence major players.
Social: Growing geriatric population and increasing incidence of injuries, diseases, and ailments drive the demand. Emphasis on early diagnosis and preventive healthcare supplements market growth. However, radiation exposure concerns limit widespread adoption.
Technological: Advancements in digital radiography, wireless controls, compact designs, and bedside imaging solutions support market revenue. Integration of AI and cloud-based technologies for improved imaging and analysis is attracting investments.
Key Takeaways
The global portable X-ray devices market size is expected to reach a value of US$ 15,257.11 Mn by 2030, expanding at a CAGR of 9.2% during the forecast period. Surging need for point-of-care diagnostics and mobile medical care applications is a key growth driver. The Asia Pacific region is likely to witness the fastest growth, given improving access to healthcare infrastructure and initiatives to reduce diagnostic turnaround times.
Regional analysis
Regionally, Asia Pacific is anticipated to emerge as the fastest growing market for portable X-ray devices over the forecast years. This is attributed to the rising healthcare expenditure in countries such as China and India as they upgrade healthcare infrastructure and focus on strengthening primary care delivery. Additionally, increasing collaboration between domestic players and international market leaders for technology transfer and skill development programs are boosting regional market growth.
Key players operating in the portable X-ray devices are Carestream Health Inc., Siemens Healthineers AG, Shimadzu Corporations, MinXray, Koninklijke Philips NV, GE Healthcare, Canon Medical Systems, Envista Holdings Corporation, and FUJIFILM Holdings Corporation, among others. Major companies are investing in advanced product offerings, regional expansion of distribution networks, and strategic partnerships to garner a larger market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
