Market Trends of Portable X-ray Devices Industry
This section covers the major market trends shaping the Portable X-ray Devices Market according to our research experts:
Digital X-ray Segment is Expected to Witness Significant Growth Over the Forecast Period
Portable digital X-ray systems directly convert the transmitted X-ray radiation into a digital image using an array of solid-state detectors, such as amorphous selenium or silicon and display the image directly on the computer. The digital X-ray emits very little radiation than analog (traditional) X-rays, making it highly safer. The images produced by the digital system are of high quality. They are produced immediately after the procedure, thus reducing the waiting time.
The increasing adoption of portable digital X-ray systems across the globe is the major driver for the segment. In addition, the launch of technologically advanced products by the key players is also driving segment growth. For instance, in March 2021, Fujifilm India Private Limited, a subsidiary of Fujifilm Holdings Corporation, launched a mobile digital radiology system called FDR nano, which provides high-resolution images with low X-ray doses in healthcare settings. As per the company, FDR nano enables noise reduction circuits that improve the granularity of low-density regions and achieve high image quality. Furthermore, in August 2020, Canon Medical launched SOLTUS 500 Mobile Digital X-ray system in the U.S. market. This new system offers enhanced ease of use, increased productivity, enhanced safety features, simplified detector charging, and increased storage capacity. Therefore, launching new advanced products may create new opportunities and increase the market's competitiveness, thereby driving the segment growth.
The rising geriatric population is also another factor driving the segment growth. For instance, according to the Knoema journal published in 2021, Argentina's population aged 65 years and above was 11.5 % in 2021. The geriatric population in Argentina increased to 11.5 % in 2021, and it is growing at an average annual rate of 0.95%. The geriatric population is prone to various diseases. Thus, owing to the increasing geriatric population, the demand for portable digital X-ray devices is anticipated to increase as diagnostic imaging equipment is one of the essential requirements for diagnosing various diseases.
Thus, considerable segment growth is anticipated over the forecast period owing to such factors.
North America is Expected to Witness Considerable Growth Over the Forecast Period
North America is expected to dominate the overall portable X-ray devices market over the forecast period. The growth is due to factors such as rapidly advancing healthcare infrastructure, rising chronic disorders, and the presence of technologically advanced players in this region. For instance, according to GLOBOCAN 2020 report, 2,281,658 new cancer cases were diagnosed in the United States in 2020, with 612,390 fatalities. Similarly, as per the report published by Arthritis in Canada in August 2021, more than 6.0 million Canadians, 1 in 5 aged 15 or above, had arthritis. In addition, as per the same source, around 1 in 2 seniors over 65 had arthritis. The increased prevalence of chronic diseases increases the demand for accurate diagnosis and a treatment plan that is efficient and timely from healthcare providers, and as a result, the demand for portable X-ray devices is expected to increase, thereby propelling the market growth in the North American region.
Key product launches, high concentration of market players or manufacturer's presence, acquisition & partnerships among major players, and increasing cases of chronic diseases in the United States are some of the factors driving the growth of the knee replacement market in the country. For instance, in September 2021, GE Healthcare introduced the AMX Navigate, a new portable, digital X-ray system designed with a first-of-its-kind power-assisted Free Motion telescoping column that aims to reduce lift force by up to 70.0% and decrease technologist injury. Similarly, in May 2021, KA Imaging signed a distribution agreement in the United States with Alpha Imaging. Hospitals, medical facilities, and practices from 14 states have access to the Reveal 35C single exposure, portable, digital dual-energy subtraction digital radiography (DR) X-ray detector through Alpha Imaging. Thus, due to the development of innovative solutions, the market is expected to experience tremendous growth in the country.
Therefore, owing to the aforesaid factors, the growth of the studied market is anticipated in the North America Region.
