PORTABLE X-RAY DEVICES MARKET ANALYSIS

Portable X-Ray Devices Market Size and Trends

The portable X-ray devices market is estimated to be valued at USD 8.21 billion in 2024 and is expected to reach USD 15.31 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 9.3% from 2024 to 2031.

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The market is driven by the rising aging population and the subsequent growth in the incidence of age-related diseases as well as increasing healthcare expenditure. Portable x-ray devices offer mobility and flexibility which enables radiological diagnosis to be conducted at the point-of-care or at ambulant sites. This advantage has been the key factor fueling the demand for portable x-ray devices globally. The increasing demand for home healthcare and telehealth owing to the COVID-19 pandemic has further promoted the adoption of portable x-ray devices in recent times.

Technological Advancements

One of the major drivers propelling the growth of the portable X-ray devices market is the advancing technologies that are helping make these devices more portable and affordable. With continuous innovation and R&D, manufacturers are able to pack more powerful imaging capabilities into smaller footprints without compromising on image quality. This has made portable X-ray machines viable options for use even in home care and ambulances in addition to hospitals and clinics.

The advanced digital detectors have enabled miniaturization while still obtaining high-resolution images equivalent to traditional larger machines. This has boosted the demand for portable X-ray devices significantly among healthcare providers. For instance, in March 2021, Fujifilm India Private Limited, a subsidiary of Fujifilm Holdings Corporation, a medtech company, introduced a mobile digital radiology system named FDR nano. This system delivers high-resolution images while minimizing X-ray doses in healthcare environments. According to the company, FDR nano incorporates noise reduction circuits that enhance the clarity of low-density areas, resulting in superior image quality.

The rising geriatric population

The global portable X-ray devices market is anticipated to experience growth propelled by the expanding geriatric population worldwide. The increasing number of imaging diagnostics, driven by the aging demographic and the wider acceptance of portable systems across diagnostic facilities, is contributing to this surge. For instance, according to the World Health Organization (WHO), the global population aged 60 years and older is projected to double by 2050, reaching 2.1 billion, while the number of individuals aged 80 years or older is expected to triple between 2020 and 2050, reaching 426 million.

The introduction of innovative products by market players is also expected to fuel the growth of the global portable X-ray devices market. For example, as reported in the 2021 Knoema journal, Argentina witnessed a rise in its population aged 65 years and older to 11.5% in 2021, with this demographic segment growing at an average annual rate of 0.95%. Given that the elderly population is susceptible to a range of ailments, the demand for portable digital X-ray devices is expected to escalate. Diagnostic imaging equipment is indispensable for diagnosing numerous illnesses, making it a crucial requirement amid the burgeoning geriatric population.