A recent
report published by Infinium Global Research on the portable x-ray devices market
provides in-depth analysis of segments and sub-segments in the global as well
as regional portable x-ray devices market. The study also highlights the impact
of drivers, restraints, and macro indicators on the global and regional
portable x-ray devices market over the short term as well as long term. The
report is a comprehensive presentation of trends, forecast and dollar values of the global portable x-ray devices market. According to the report, the global
portable x-ray devices market is projected to grow at a CAGR of 11% over the
forecast period of 2022-2028.
Market
Insight
The revenue
generated by the market was approximately USD 6.3 billion in 2021 and is
expected to reach approximately USD 12 billion in 2028 and is expected to grow
with a CAGR of 11% over the forecast period 2022-2028. X-Ray is electromagnetic ionizing radiation with a wide array of applications in a
diversified range of industries. In the healthcare industry, these ionizing
radiations (X-Ray) devices constitute the largest market share of the total diagnostic
imaging market. The primary driving factors for this include an aging population, a growing number of patients with chronic diseases, changing lifestyles,
technological advancements, and increasing incidences of cancer and orthopedic
diseases. The demand has emerged for such devices due to multiple factors
revolving around the increased focus of patients on convenience and the development of
medical technology.
The Covid-19
pandemic affected the portable X-Ray devices market, unlike other markets. There
were both negatives and positives of the pandemic on the market. The demand for
new portable X-Ray devices increased in outpatient facilities and home-based
healthcare facilities. The forced lockdowns and closing of healthcare
facilities impacted the demand and usage of portable X-Ray devices. The
manufacturing companies in the market were also affected. The sourcing of
components and raw materials was disrupted due to restrictions on their
transportation. The demand is expected to again gain momentum as the healthcare
is adjusting. Also, the demand from outpatient facilities and independent
physicians and neurologists' offices is also expected to grow in the near future
Rapid technological advancements, companies focus to meet unmet medical needs
of patients, increasing support of government and private organizations to
innovate technologies, and availability of a large number of players in the
market has led to the continuous improvement of advanced technologies and
introduction of portable medical devices market with an increase in image quality.
The X-Ray device technology has moved from analog imaging to digital imaging,
and there is a continuous improvement in image quality, dose reduction
techniques, and efficiencies in workflow. Growing demand for home healthcare
devices, and minimally invasive diagnostic devices are the main reasons for the
adoption and development of portable X-Ray devices. The demand for portable and
mobile X-ray devices, like other diagnostic imaging devices, has increased
tremendously in the last few years and will continue to show an upper trend due
to their convenience in use. Technology advancements also resulted in the development
of wireless X-ray detectors and portable devices. The cost can be reduced by
minimizing the storage cost related to X-ray films. Increasing medical tourism
in developing countries and increasing efficiency are further expected to drive the
portable X-ray devices market growth.
North
America is expected to be the largest region in the market and Asia-Pacific is
expected to be the fastest-growing region. North America is the largest
manufacturer of medical devices in the market. The value addition of the
medical devices industry to the countries in North America such as the US is in
hundreds of billions. Furthermore, the use of highly sophisticated medical
devices is high in healthcare facilities in North America. Therefore, the
demand for portable X-Ray devices is thus high in North American region.
Asia-Pacific is expected to be growing at a faster pace as the healthcare
facilities are rapidly growing in the region due to increased investments in
the healthcare industry and increasing population. Also, the region is the
leading provider of semiconductors and chips in the world.
Segment
Covered
The report
on the global portable x-ray devices market covers segments such as type of device,
and type of technology. On the basis of type of device, the sub-markets include
mobile x-ray devices and handheld x-ray devices. On the basis of type of
technology, the sub-markets include computed radiography x-ray devices, digital
radiography x-ray devices, and analog x-ray devices.
Companies
Profiled:
The report
provides profiles of the companies in the market such as GE Healthcare, Philips
Healthcare, Siemens AG, Toshiba Medical Systems Corporation, Varian Medical
Systems Inc., Shimadzu Corporation, Aribex Inc., MinXray, and Others.
Report
Highlights:
The report
provides deep insights into the demand forecasts, market trends, and micro and
macro indicators. In addition, this report provides insights into the factors
that are driving and restraining the growth in this market. Moreover, The
IGR-Growth Matrix analysis given in the report brings an insight into the
investment areas that existing or new market players can consider. The report
provides insights into the market using analytical tools such as Porter's five
forces analysis and DRO analysis of the portable x-ray devices market. Moreover,
the study highlights current market trends and provides forecast from
2022-2028. We also have highlighted future trends in the market that will
affect the demand during the forecast period. Moreover, the competitive analysis
given in each regional market brings an insight into the market share of the
leading players.