The digital mobile X ray devices market is estimated to be valued at US$ 3,667.8 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Digital mobile X ray devices are portable medical imaging systems used for diagnosis in different healthcare settings like hospitals, clinics, orthopedics etc. These devices are wireless and powered by batteries making them easy to transport within the facility or for bedside imaging. Mobile X ray systems are used for imaging extremities, abdomen, chest, spine and other body parts.
Market Dynamics:
The growth of the digital mobile X ray devices market is primarily driven by increasing demand for portable medical imaging systems owing to growing geriatric population and prevalence of chronic diseases requiring diagnosis. According to the United Nations, the number of people aged 60 or above is expected to reach 2.1 billion by 2050 from 1 billion in 2019. Furthermore, rising healthcare expenditure and investments to upgrade healthcare infrastructure with advanced medical equipment in emerging economies is also supporting the market growth. However, high cost of digital mobile X ray devices and lack of skilled radiologists in developing regions may hamper the market growth over the forecast period.
SWOT Analysis
Strength: Digital mobile X ray devices have high image quality, results are available instantly, and tests can be done at the bedside without moving patients which reduces discomfort. They are more affordable than traditional fixed X ray machines. Digital images can also be transferred wirelessly for remote diagnosis and consultation.
Weakness: Digital mobile X ray devices have a smaller field of view compared to fixed systems which can miss details. Image quality may not be as high as large fixed machines. Most mobile units have limited battery life which impacts prolonged use.
Opportunity: Growing geriatric population and rising prevalence of chronic diseases increase the demand for diagnostic imaging. Home healthcare and telemedicine are expanding which increases need for portable diagnostic solutions. Developing markets offer growth opportunities due to increasing investments in healthcare infrastructure and rising medical tourism.
Threats: High initial investments and maintenance costs of advanced digital mobile X ray devices pose affordability challenges. Strict regulations and long approval cycles for new devices in major markets hamper faster product launches. Slow uptake of new technologies in price-sensitive developing regions affects revenue potential.
Key Takeaways
The global Digital Mobile X Ray Devices Market Share is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing demand for point-of-care diagnostics and rising geriatric population susceptible to musculoskeletal disorders and chronic diseases.
Regional analysis: North America dominates currently due to technological advancements and availability of reimbursements. Asia Pacific is expected to grow at the fastest pace due to increasing healthcare spending, supportive government initiatives, and expanding medical tourism industry.
Key players: Key players operating in the digital mobile X ray devices market include Toshiba Corporation, Carestream Health, General Electric Company, Hitachi Ltd., Siemens Healthcare Private Limited, Koninklijke Philips N.V., Shimadzu Corporation, MinXray Inc., KA Imaging, Samsung Group, OXOS Medical, InnoCare Optoelectronics, Siemens Healthineers, Shimadzu Medical Systems USA, Konica Minolta Healthcare Americas Inc., Canon Inc., Boston Imaging, Nanox, Fujifilm, Scanna-MSC, VUNO, and Canon Medical Systems USA Inc. Players expand through acquisitions, partnerships, and new product launches to strengthen their market presence.
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