by Portable x-ray devices are easily movable medical imaging devices used for diagnosis of various injuries and other body conditions. Such devices provide real-time imaging without requiring permanent installation like conventional x-ray systems. They are widely used in hospitals, diagnostic centers, home healthcare and during surgeries to capture internal images of bones and soft tissues. Growing need for point-of-care diagnosis and emergency medical imaging is fueling demand for portable x-ray devices.
The global 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 13% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Rising adoption for diagnosis in remote locations is estimated to witness high growth. Portable x-ray devices help diagnosis and treatment of injuries and illnesses in places without fixed medical imaging infrastructure like rural areas, battlefields and during disaster relief operations. They enable point-of-care diagnosis during ambulance rides and in community healthcare settings. Growing need for prompt medical care in remote and austere locations is driving demand for portable x-ray devices. Their mobility allows examination of patients in their homes or at accident sites without requiring transportation to hospitals. This is expected to significantly drive the portable x-ray devices market over the forecast period.
Porter’s Analysis
Threat of new entrants: The portable X-ray devices market requires huge capital investments in R&D for product innovation. Moreover, stringent regulatory approval process poses barriers for new companies.
Bargaining power of buyers: The presence of many established players provides buyers with various product options at competitive prices. However, medical practitioners prefer reputed brands for quality and reliability.
Bargaining power of suppliers: Key components like X-ray generators, detectors, and computer systems are specialized technologies with limited number of dedicated suppliers. This gives them moderate bargaining power over device manufacturers.
Threat of new substitutes: There exist no close substitutes for portable X-ray technologies in medical diagnostics. Stationary X-ray systems have their limitations and are not direct substitutes.
Competitive rivalry: The portable X-ray devices market sees intense competition among major players. Companies differentiate through continuous technological advancements, expanding applications and geographic reach.
SWOT Analysis
Strengths: Portable X-ray devices offer mobility and convenience for bedside imaging. They deliver high-quality diagnostic images and help fast decision making.
Weaknesses: Initial costs of portable devices are higher than desktop units. Battery backup limits operation time away from charger. Interpreting images requires trained radiologists.
Opportunities: Growing geriatric population and rising incidence of orthopedic and cardiovascular diseases drive demand. Untapped rural regions present scope for market expansion.
Threats: Stringent regulations delay new product approvals. Reimbursement policies vary globally affecting sales. Economic slowdowns impact healthcare budgets of nations.
Key Takeaways
The Global Portable X-Ray Devices Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The global 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 13% over the forecast period 2023 to 2030.
North America dominates currently due to advanced healthcare systems and favorable insurance coverage. However, Asia Pacific is poised to grow at the fastest pace owing to increasing healthcare investments, large patient pool and rising medical tourism in countries like China, India and Japan. Countries like China, India and Japan are expected to dominate the Asia Pacific portable X-ray devices market through 2030.
Key players :
Key players operating in the portable X-ray devices market are Canon Inc., Carestream Health, GE Healthcare, Hitachi Ltd., Hologic, Inc., Philips Healthcare, Shimadzu Corporation, Siemens Healthineers and Konica Minolta Medical Imaging.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
