April 12, 2024
Portable X-Ray Devices MarkPortable X-Ray Devices Marketet

The Growing Demand For Point-Of-Care Diagnosis Is Driving The Global Portable X-Ray Devices Market

Portable X-ray devices are compact, wireless X-ray imaging equipments that allow for point-of-care diagnosis. They provide bedside or stretcher-side radiography, eliminating the need to transport patients to radiology or imaging departments. Portable X-ray devices offer advantages such as reduced patient transport time and discomfort, early diagnosis and treatment, and improved workflow efficiency. The growing need for timely medical imaging, especially in emergency care settings, is fueling the demand for portable X-ray machines.

The global Portable X-Ray Devices Market is estimated to be valued at US$ 8843.72 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the Global portable X-ray devices market size is the increasing adoption of wireless and digital systems. Modern portable X-ray systems incorporate wireless detectors and wireless data transmission capabilities. This allows for greater patient mobility during imaging and easier sharing of images across clinical locations. Many vendors are also focusing on upgrading existing analog X-ray systems to digital ones owing to the superior image quality and efficiency offered by digital radiography. The digitalization trend is expected to drive market growth during the forecast period.

Porter’s Analysis

Threat of new entrants: Low capital requirements and established brands lower barriers to entry. However, strong customer loyalty to existing brands poses challenges for new players.

Bargaining power of buyers: Large healthcare providers have significant bargaining power due to the consolidated nature of the industry. This forces companies to compete on price and quality.

Bargaining power of suppliers: A few large players dominate the supply of key components like sensors and microchips. This gives them stronger negotiating power over device manufacturers.

Threat of new substitutes: Technological advancements may lead to new and innovative diagnostic solutions posing a threat. However, portability remains a unique value proposition of X-Ray devices.

Competitive rivalry: The market is highly fragmented with the presence of several global and regional players. Intense competition on factors like pricing, portability, and new product innovation has increased rivalry.

Key Takeaways

The global portable X-Ray devices market is expected to witness high growth over the forecast period. The global Portable X-Ray Devices Market is estimated to be valued at US$ 8843.72 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031.

North America dominated over 35% of the market share in 2024 owing to rapid technological adoption and supportive medical reimbursement policies in the region. Asia Pacific is anticipated to be the fastest growing regional market due to rising healthcare investments, increasing medical tourism, and growing preference for point-of-care diagnostic solutions in countries like China and India.

Key players
Key players operating in the portable X-Ray devices market are Awarepoint Corporation, Allscripts Healthcare Solutions, Inc., Care Logistics, LLC, McKesson Corporation, Central Logic, STANLEY Healthcare, Sonitor Technologies, Inc., and TeleTracking Technologies, Inc. Cerner Corporation and Epic Systems Corporation are eyeing opportunities in remote diagnostic solutions using portable devices.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it