by The Portable X-Ray Devices Market is estimated to be valued at US$ 7676.84 Mn 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 Overview:
Portable X-ray devices are medical imaging systems that are compact in size and can be carried to the patient. They are used to capture images of a patient’s internal body parts such as bones, joints, lungs, and even teeth. Key product types in this market include mobile X-ray devices, handheld X-ray devices, and CBCT. Some common applications of portable X-ray devices include orthopedics, dental imaging, mammography, and chest radiography.
Market Dynamics:
The growing prevalence of orthopedic disorders and injuries is a major driver of the portable X-ray devices market. For instance, according to the National Health Interview Survey in 2019, around 27 million American adults reported doctor-diagnosed arthritis. Similarly, road traffic accidents which lead to bone fractures are also on the rise globally. The growing geriatric population who are more prone to bone and joint issues also contributes to market growth. Additionally, technological advancements in portable medical imaging systems that have made them smaller, lighter, and more affordable is boosting their adoption in hospitals, clinics, and home care settings. However, potentially harmful effects of prolonged exposure to X-rays and stringent regulations pertaining to their use poses challenges to market players.
Segment Analysis
The global portable X-ray devices market is dominated by the chest x-ray sub-segment which accounts for over 30% of the total market share. This is because chest X-rays are commonly used for detecting illnesses related to respiratory system such as pneumonia. Chest X-rays do not require any specialized equipment or setup and can be easily carried out using portable X-ray devices.
PEST Analysis
Political: Government initiatives aimed at improving healthcare infrastructure in developing countries is expected to drive demand for portable X-ray devices. Economic: Rising healthcare spending coupled with growing geriatric population is projected to boost the portable X-ray devices market. Social: Increasing awareness about benefits of early disease diagnosis is promoting adoption of portable X-ray devices for diagnostic purposes. Technological: Advancements in digital radiography and wireless connectivity are offering new opportunities to market players.
Key Takeaways
The global Portable X-Ray Devices Market Share is expected to witness high growth, exhibiting CAGR of 9.2% over the forecast period 2023 to 2030, due to increasing prevalence of chronic diseases. The market size for 2023 is estimated to be US$ 7676.84 Mn.
North America is projected to dominate the global portable X-ray devices market during the forecast period. This is attributed to availability of advanced healthcare facilities, growing geriatric population and presence of leading players in the region.
Europe is anticipated to showcase a substantial growth in the portable X-ray devices market over the next few years. Increasing healthcare spending and rising incidence of injuries are supporting the market growth in Europe.
Key players operating in the portable X-ray devices market 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. Strategic collaborations and new product launches are some major strategies adopted by these players.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
