Market for Portable X-ray Devices Witnesses Growth Due to Rising Geriatric Population and Preference for Home Healthcare
The Portable X-ray Devices Market is estimated to be valued at USD 50.32 Bn in 2024, growing at a CAGR of 9.3% over the forecast period (2024-2031). Portable X-ray systems are increasingly being adopted for conducting diagnostic procedures at point-of-care settings such as hospitals, clinics, and home care facilities. Furthermore, the demand for wireless and compact imaging solutions is growing owing to the need for delivering care to aging populations and remote areas.
Market Dynamics:
The growth of the portable X-ray devices market is driven by the rising geriatric population and the increasing preference for home healthcare globally. The number of elderly people is steadily growing worldwide who are more susceptible to chronic diseases and injuries which increases the demand for diagnostic imaging services. Portable X-ray systems allow for conducting diagnostic exams outside of hospitals in homes, nursing homes, ambulances and other location which provides significant convenience to the elderly. Additionally, the home healthcare sector is expanding rapidly as it enables patients to receive medical care services while staying in the comfort of their own homes. This growing preference for receiving treatment outside of hospitals and clinics without compromising on quality and safety is expected to propel the demand for portable X-ray devices over the forecast period.
Increasing Adoption of Portable X-ray Devices in Emerging Countries is Driving the Market Growth
The portable X-ray devices market is witnessing significant growth in emerging economies like India, China, and various countries in Southeast Asia. With improving healthcare infrastructure and rising disposable incomes, more patients in these countries are now able to afford portable X-ray exams. This is creating a strong demand for affordable and portable X-ray machines. Manufacturers are actively marketing their portable X-ray products in these high growth markets to tap into new revenue opportunities. The widespread acceptance and uptake of portable X-ray devices in emerging nations will be a key driver for the global market in the coming years.
Rising Geriatric Population and Growing Prevalence of Chronic Diseases is Fueling Market Growth
As the global population ages, the number of people suffering from age-related chronic health conditions is increasing rapidly. Portable X-ray devices are hugely beneficial for the diagnosis and treatment of diseases like arthritis, osteoporosis, fractures, and respiratory illnesses - which are highly prevalent in the geriatric population. They provide convenience and enable imaging exams to be performed at the patient's bedside or in ambulances, without having to move critically ill or injured people. This factor is positively influencing the demand for portable X-ray systems from hospitals, clinics as well as home healthcare agencies around the world.
High Cost of Advanced Portable X-ray Devices Pose a Challenge
While portable X-ray machines offer clear clinical advantages over traditional stationary systems, their cost can be a restraining element for widespread adoption - especially in price sensitive developing markets. Advanced portable X-ray units with high-end features like wireless connectivity, digital radiography, and lightweight carbon fiber construction demand a much higher price tag compared to basic portable X-ray devices. For healthcare providers with limited budgets, the high acquisition and maintenance expenditures associated with premium portable X-ray machines can restrict their procurement. This cost barrier needs to be addressed by manufacturers to further accelerate market revenues.
Stringent Regulations Hamper the Development of Innovative Products
The portable medical device industry operates in a highly regulated environment. The design, manufacturing, and marketing of X-ray products needs to meet strict quality and safety standards set by authorities like the U.S. FDA and EU MDR. While such oversight ensures patient safety, it also makes the product development process lengthy and resource-intensive for companies. Additionally, frequent changes in regulatory guidelines compel firms to extensively modify their products. The compliance burden and risks of not getting timely regulatory clearances inhibit the introduction of novel portable X-ray technologies. This regulatory rigidity poses challenges for innovation in the industry.
Untapped Opportunities in Military and Public Safety Applications
Beyond healthcare, portable X-ray systems have significant uncovered demand from military forces as well as public safety organizations worldwide. Battlefield medics and paramedics can benefit greatly from truly portable X-ray solutions to diagnose injuries in pre-hospital situations. However, currently very few products are specifically tailored for defense and emergency response applications. By designing rugged, compact and intuitive systems suitable for mission-critical conditions, manufacturers have a huge opportunity to expand into new non-traditional markets. Catering to customized requirements of military, fire, law enforcement, and disaster relief, teams can boost future portable X-ray sales.
Growing Popularity of Teleradiology Provides New Avenues
The integration of wireless technology with portable X-ray devices is opening up exciting opportunities in tele-imaging. Radiologists can now remotely interpret X-ray scans taken anywhere and wirelessly transmitted to them. This enables round-the-clock teleradiology services even in rural areas lacking on-site specialists. Additionally, artificial intelligence (AI) assisted features are being added that can automatically detect anomalies in portable X-ray images. Such technology innovations will drive the wider acceptance of portable X-ray devices well beyond hospitals into non-traditional care locations via telemedicine. This emerging application area holds immense promise to propel future portable X-ray market revenues.
Link - https://www.coherentmarketinsights.com/market-insight/portable-x-ray-devices-market-5201
Key Development
- In July 2022, Siemens Healthineers, a medtech company, unveiled its latest mobile X-ray system, Mobilett Impact1, at that year's 2022. European Congress of Radiology (ECR) in Vienna. This system integrates the benefits of a mobile X-ray unit for bedside imaging with full digital integration, all at an economical price. With Mobilett Impact1, the entire imaging workflow can be conducted right at the patient's bedside, enhancing efficiency and patient care.
- In July 2022, Fujifilm Europe, a technology company, introduced a novel hybrid C-arm and portable X-ray apparatus named FDR Cross. This device is engineered to provide superior fluoroscopic and static X-ray images for surgical procedures and other medical interventions.
- In March 2022, Konica Minolta Inc., a multinational technology company (Konica Minolta), unveiled AeroDR TX m01 in Japan. This portable X-ray system incorporates a wireless dynamic digital radiography function.
- In September 2021, GE Healthcare, a multinational medical technology company, launched AMX Navigate, a portable digital X-ray system featuring a power-assisted Free Motion telescoping column. This innovative design aims to reduce lift force by up to 70%, thereby decreasing technologist injury. The system also introduces workflow solutions like Zero Click Exam, which automates workflow and reduces user interface interactions, enhancing efficiency.
Key Players: Envista Holdings Corporation (KaVo Dental GmbH), Canon Medical System, GE Healthcare, Koninklijke Philips NV, MinXray, FUJIFILM Holdings Corporation, Shimadzu Corporation, Siemens Healthineers AG, Carestream Health Inc., General Electric, Siemens Healthcare, Ziehm Imaging GmbH, MinXray, Inc, Samsung Electronics Co., Ltd., Hitachi, Ltd., Source-Ray, Inc., Hologic, Inc., Dentsply Sirona, Planmeca Group, Genoray Co., Ltd., Vatech Co., Ltd., and CURA Healthcare
