by The global Portable X-ray Devices Market is estimated to be valued at US$ 6,437.8 Mn in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Portable X-ray devices are small, lightweight, and handheld X-ray machines that can be easily carried to the patient’s location, providing point-of-care diagnosis. These devices offer various advantages such as quick results, convenience, and flexibility in performing X-ray examinations. The increasing demand for point-of-care diagnosis, especially in remote areas or emergency situations, is driving the market growth. Portable X-ray devices are extensively used in mobile clinics, nursing homes, home healthcare settings, and military applications.
Market Key Trends:
The key trend in the Portable X-Ray Devices Market Size is the growing adoption of digital imaging technology. Digital X-ray devices are replacing traditional film-based X-ray machines due to their superior image quality, reduced radiation exposure, and convenient storage and retrieval of images. Advancements in digital imaging technology such as direct radiography (DR) and computed radiography (CR) have significantly improved the efficiency and accuracy of X-ray examinations. Furthermore, the integration of artificial intelligence (AI) algorithms with portable X-ray devices is enhancing image interpretation and diagnostic accuracy.
PEST Analysis:
Political: The political factors influencing the portable X-ray devices market involve government regulations and policies. The increasing focus on healthcare infrastructure development by governments worldwide is likely to create favorable conditions for market growth. This includes incentives and subsidies offered by governments in various countries to promote the adoption of portable X-ray devices.
Economic: The economic factors influencing the market pertain to the overall economic conditions and healthcare spending. The growing healthcare expenditure, especially in developing countries, is expected to drive market growth. Additionally, the increasing prevalence of chronic diseases and the need for efficient diagnostic tools contribute to the demand for portable X-ray devices.
Social: The social factors influencing the market include the aging population and the increasing burden of chronic diseases. As the aging population grows, the demand for portable and convenient healthcare devices rises. Portable X-ray devices offer the advantage of providing on-site diagnostic services, reducing the need for patients to travel to healthcare facilities.
Technological: The technological factors influencing the market involve advancements in imaging technology. With the continuous development of digital imaging techniques and the integration of artificial intelligence in portable X-ray devices, the accuracy and efficiency of diagnostics are improved. Moreover, the miniaturization of devices and the incorporation of wireless technologies contribute to the market growth.
Key Takeaways:
The global portable X-ray devices market is expected to witness high growth, exhibiting a CAGR of 9.2% between 2022 and 2028. The market’s growth is primarily driven by the increasing prevalence of chronic diseases and the need for efficient diagnostic tools. The aging population and the demand for on-site diagnostic services also contribute to market growth.
In terms of regional analysis, North America is projected to be the fastest-growing and dominating region in the portable X-ray devices market. This can be attributed to the presence of advanced healthcare infrastructure, high healthcare expenditure, and technological advancements in imaging devices in the region.
Key players operating in the portable X-ray devices market include Carestream Health Inc., Siemens Healthineers, Shimadzu Corporations, MinXray, Koninklijke Philips NV, GE Healthcare, Canon Medical Systems, Envista Holdings Corporation, and FUJIFILM Holdings Corporation, among others. These key players play a significant role in driving market growth through product innovation, strategic collaborations, and geographic expansion.
*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.
