by 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 9.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Portable X-ray devices are medical imaging devices used to capture X-ray images of the internal tissues, bones, and organs of the human body. These devices are compact and lightweight for use at the patient’s bedside in hospitals as well as in non-hospital settings such as radiography clinics, homes, and during emergencies. Portable x-ray devices utilize digital X-ray detectors instead of films which capture the X-ray images digitally and allow faster image access and enhanced image quality compared to conventional X-ray systems. The digital images can also be easily transferred over networks, stored, retrieved on different devices for diagnosis, and compared to previous images. These benefits have increased the adoption of portable x-ray devices among healthcare providers.
Market key trends:
One of the key trends in portable x-ray devices market is the increasing use of computed radiography (CR) and direct digital radiography (DDR) systems. CR systems capture X-ray images on a reusable phosphor plate which is then scanned with a laser beam to digitize the latent images. DDR systems have a digital detector composed of an amorphous silicon material that directly converts X-rays into electric signals. Both these techniques have largely replaced analog X-ray films as they offer faster image access, enhanced image quality and easier storage and sharing of images.
Porter’s Analysis
Threat of new entrants: Low capital requirements and knowledge barriers restrict new players from entering this market. Regulations and established brands also discourage new entrants.
Bargaining power of buyers: Buyers have significant bargaining power due to the availability of alternatives and branded products in the market. They can negotiate on price and demand value-added services.
Bargaining power of suppliers: A few major players dominate the supply market. Suppliers have moderate bargaining power due to the availability of alternative procurement options for components.
Threat of new substitutes: New mobile radiography and dental systems pose a threat of substitution.
Competitive rivalry: Major players differentiate through technologies, applications, and services. Competition is high among top brands.
Key Takeaways
The global Portable X-Ray Devices Market Share is expected to witness high growth, exhibiting CAGR of 9.2% over the forecast period, due to increasing prevalence of chronic diseases and road accidents. The market size for 2023 is US$ 7676.84 Mn.
Regional analysis: North America dominates the market owing to increased awareness and adaption of improved medical imaging technologies. Asia Pacific is expected to grow at the fastest pace due to rising healthcare investments, growing geriatric population and increasing incidence of injuries in countries like India and China.
Key players operating in the portable X-ray devices market are Carestream Health Inc., Siemens Healthineers AG, Shimadzu Corporations, MinXray, Koninklijke Philips NV, GE Healthcare, Canon Medical Systems, Envista Holdings Corporation, and FUJIFILM Holdings Corporation, among others. Key players are investing in new product launches and adopting inorganic growth strategies like acquisitions and partnerships to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
