DUBLIN–(BUSINESS WIRE)–The “Portable X-ray Devices Market – Growth, Trends, and Forecast (2019 – 2024)” report has been added to ResearchAndMarkets.com’s offering.
The geriatric population is estimated to increase by nearly 60% in the next 15 years. By 2030, the total number of people above the age of 65 is expected to be more than a billion, i.e. the geriatric population is expected to represent 12% of the global population. By 2050, this number is likely to cross 1.6 billion or 16.7% of the total population.
Due to a rapid increase in the geriatric population, the prevalence of age-associated disorders has witnessed an increase, which, in turn, has resulted in the expansion of the market.
Digital X-ray is Expected to Hold the Largest Share
In the present scenario, digital x-ray systems occupancy is not 100% (or close to) in spite of their advantages over the analog systems, but this is soon expected to change and market in the future is likely to be almost completely dominated by digital x-ray systems. This is because the cost-benefit ratio of a digital x-ray system does not seem obvious in emerging markets.
However, manufacturers are making an effort to bring down the prices, keeping in view the resistance of users to switch from analog to digital due to high (almost double/twice) cost. Moreover, government funding to film-based / analog x-ray systems is on the decline.
Asia-Pacific governments are increasing focus on improving their healthcare facilities and digital systems to help them in cutting down on time and dose (exposure to radiation). This can also be observed in developed countries like the United States, where, as part of a push to nudge US healthcare providers to adopt digital radiography (DR), the Medicare system is planning to reduce 20% of payments for exams performed on analog x-ray systems starting in 2017.
Digital X-ray has the largest share in the market owing to factors such as its high patient throughput rates, fastest image acquisition rates, good image quality, and low radiation risks. Furthermore, rise in government focus on high-quality diagnostic imaging combined with efforts of manufacturers, in order to release a low-cost variant/ price reduction of existing digital products is also driving the growth of digital x-ray systems.
North America Holds the Largest Market Share
North America is the largest market for global portable X-ray devices owing to the presence of leading medical devices manufacturer, and growing awareness regarding preventive care and early diagnosis, which is augmenting the demand of portable X-ray devices in the region.
It has been observed that market growth in North American countries can be attributed to the use of these products in multiple sectors. These portable devices can be used in emergency medicine, in-patient services, musculoskeletal, and cardiology. In Mexico, the rural areas are potential enough to implement the point-of-care x-ray services, such as portable ones, with regional training institutions for guidance.
The US Armed Special Forces Medics are using the portable x-ray devices, which helps them in on-field diagnosis, and applications like forensic odontology allowing them to create high image quality in environments where transfer to hospital/clinic/diagnostic imaging centers is not possible. There is also an increase in the usage of these devices in academic settings, which is also increasing in the region, especially for emergency medicine.
The market competition is set to intensify as several key players are focusing on the expansion of their Portable X-ray Devices portfolio through acquisition and collaboration with companies. The Portable X-ray Devices market is expected to open up several opportunities for new players as well as currently established market leaders. The key players in the market include Canon Medical Systems, General Electric Company, Koninklijke Philips, Shimadzu Corporation, amongst others.
Key Topics Covered
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Technological Advancement
4.2.2 Growing Geriatric Populations and Increase in the Prevalence of Vascular Diseases
4.2.3 Increasing Focus on Preventive Care
4.2.4 Huge Funding for R&D of Portable Technologies by Private Players & Government Sector
4.3 Market Restraints
4.3.1 Stringent Regulatory Scenario
4.3.2 High Risk of Radiation Exposure
4.4 Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Technology
5.1.1 Analog X-ray
5.1.2 Digital X-ray
5.2 By Application
5.2.1 Dental X-ray
5.2.3 Chest X-ray
5.2.4 Abdomen X-ray
5.3 By Modality
5.3.1 Handheld X-ray Devices
5.3.2 Mobile X-ray Devices
5.4.1 North America
22.214.171.124 Rest of Europe
5.4.3 Asia Pacific
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.4.4 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
5.4.5 South America
18.104.22.168 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Aribex Inc.
6.1.2 Canon Medical Systems
6.1.3 General Electric Company
6.1.4 Koninklijke Philips N.V.
6.1.7 Shimadzu Corporations
6.1.8 Siemens AG
6.1.9 Toshiba Medical Systems Corporation
6.1.10 Varian Medical Systems Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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Related Topics: Radiography