Portable X-ray Devices Market Is Estimated To Witness High Growth Owing to Rising Demand for Point-of-Care Imaging in the Healthcare Sector



The 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 offer convenience and flexibility for point-of-care imaging, particularly in emergency and critical care settings. These devices are compact, lightweight, and provide real-time imaging, enabling healthcare professionals to effectively diagnose and monitor patients at the bedside. Furthermore, the increasing prevalence of chronic diseases, the growing geriatric population, and the rising demand for advanced imaging technologies are driving the adoption of portable X-ray devices in various healthcare settings, including hospitals, clinics, and ambulatory care centers.

Market Dynamics:
The portable X-ray devices market is fueled by two major drivers. Firstly, the technological advancements in portable X-ray devices, such as wireless and digital imaging capabilities, are enhancing image quality, reducing examination time, and improving workflow efficiency. This is attracting healthcare providers to invest in these devices to enhance patient care and outcomes. Secondly, the increasing demand for point-of-care imaging and the rise in the number of portable imaging centers are driving the market growth. These devices enable advanced imaging to be performed at the patient’s bedside, reducing the need for patient transportation and improving overall efficiency and patient satisfaction.

Segment Analysis:

The Portable X-Ray Devices Market Size can be segmented based on product type, technology, end-user, and region. Among these segments, the end-user segment is dominating the market. This can be attributed to the increasing demand for portable X-ray devices in hospitals, clinics, and ambulatory care centers. These devices offer convenience and flexibility in conducting X-ray examinations, especially in emergency situations. The end-user segment is expected to continue dominating the market due to the rising prevalence of chronic diseases and the growing geriatric population, which leads to an increased demand for imaging services.

PEST Analysis:

Political: The political factors influencing the portable X-ray devices market include government regulations related to medical devices, reimbursement policies, and healthcare infrastructure development.

Economic: Economic factors affecting the market include healthcare expenditure, GDP growth, and disposable income of individuals.

Social: Social factors include the increasing prevalence of chronic diseases, growing geriatric population, and rising awareness about early disease detection.

Technological: Technological factors impacting the market include advancements in portable X-ray devices, such as the development of wireless and handheld devices, and the integration of artificial intelligence in imaging technologies.

Key Takeaways:

The global portable X-ray devices market is expected to witness high growth, exhibiting a CAGR of 9.2% over the forecast period. This growth can be attributed to the increasing demand for portable X-ray devices in hospitals and clinics, driven by the rising prevalence of chronic diseases and the growing geriatric population. Regionally, North America is the fastest-growing and dominating region in the market. This can be attributed to the presence of well-established healthcare infrastructure, favorable reimbursement policies, and the high adoption rate of advanced medical technologies in the region. Key players operating in the portable X-ray devices market include Carestream Health Inc., Siemens Healthineers, Shimadzu Corporation, MinXray, Koninklijke Philips NV, GE Healthcare, Canon Medical Systems, Envista Holdings Corporation, and FUJIFILM Holdings Corporation, among others. These key players are focusing on product innovation, mergers and acquisitions, and strategic collaborations to gain a competitive edge in the market.

 

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