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A recent report published by Infinium Global Research on the portable X-ray devices market provides an 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 the long term. The report is a comprehensive presentation of trends, forecasts, 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.
The revenue generated by the portable X-ray devices market was approximately USD 6.3 billion in 2022 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 healthcare is adjusting. Also, the demand from outpatient facilities and independent physicians and neurologists' offices are also expected to grow in the near future Rapid technological advancements, companies focus to meet the 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 the 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 the increasing population. Also, the region is the leading
provider of semiconductors and chips in the world.
The report on the global portable X-ray devices market covers segments such as types of devices, and types of technology. On the basis of types of devices, the sub-markets include mobile X-ray devices and handheld X-ray devices. On the basis of types of technology, the sub-markets include computed radiography X-ray devices, digital radiography X-ray devices, and analog X-ray devices.
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.
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 driving and restraining this market's growth. 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 forecasts for 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.
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