The Digital Mobile X Ray Devices Market is estimated to be valued at US$ 3,667.8 Mn in 2022 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 medical imaging equipment used to capture x-ray images digitally. They offer advantages such as enhanced image quality, convenience of wireless operation, and shorter exam times compared to conventional x-ray systems. These devices play a crucial role in diagnosis and treatment monitoring in healthcare facilities.
Market key trends:
The digital mobile x-ray devices market is expected to witness significant growth owing to the increasing healthcare expenditure worldwide. According to data published by the World Bank, global current health expenditure increased from 8.6% of GDP in 2000 to 10% of GDP in 2020. Growing expenditure on healthcare has encouraged hospitals and diagnostic centers to invest in advanced medical equipment such as digital mobile x-ray devices for better patient management and care. Furthermore, the growing geriatric population prone to chronic diseases and the rising incidence of trauma and accidents cases are elevating the demand for digital x-rays, augmenting the market growth. In addition, technological advancements enabling superior image quality, portability, and wireless connectivity are further fueling the adoption of digital mobile x-ray devices.
Porter's Analysis
Threat of new entrants: Low capital requirements and established brand recognition by existing players pose significant barriers for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and price sensitivity.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute components and focus on developing long-term relationships.
Threat of new substitutes: Moderate threat from newer modalities like CT scans and portable x-ray units.
Competitive rivalry: High due to presence of established players.
SWOT Analysis
Strengths: Growing aging population driving demand. Portability and affordability of digital x-ray devices.
Weaknesses: High costs of advanced digital systems. Reimbursement issues in developing nations.
Opportunities: Untapped potential in emerging markets. Technological advancements leading to miniaturization.
Threats: Stringent regulatory environment. Supply chain disruptions and economic slowdowns.
Key Takeaways
The Global Digital Mobile X Ray Devices Market is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing prevalence of chronic diseases and growing aging population prone to injuries and bone fractures. North America dominates the market currently due to supportive reimbursement policies and advanced healthcare infrastructure in the region.
Regionally, Asia Pacific is expected to witness the fastest growth owing to rising medical tourism, growing patient pool, and increasing healthcare spending in the region.
Key players operating in the Digital Mobile X Ray Devices market are 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 are focusing on new product launches and expansion in emerging markets to strengthen their foothold.
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Digital mobile x-ray devices and imaging systems are used to obtain images of a patient’s internal body structures (anatomy).
Digital mobile x-ray devices deliver high quality images of all the body organs, especially in minute spaces with 360-degree turns.
Request Brochure –https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=19733The global digital mobile X-ray products market is expanding at a rapid pace due to the rise in incidence of chronic lung diseases, skeletal fractures, and breast cancers across the globe.
Technological advancements in the field of medical imaging, availability of the next generation point of care devices (POC), rise in number of neonatal care units, increase in number of regulatory approvals for atomization systems, and low dose radiation technology based devices are the factors driving the digital mobile x-ray products market.
Conversely, lack of sufficient reimbursement policies and stringent regulatory procedures are the key elements hampering the digital mobile x-ray products market.
Based on end-user, the market can be divided into diagnostic centers, hospitals, operating theaters, intensive care units (ICU), neonatal intensive care units (NICU), central x-ray department, and others (premature birth wards, plaster room, sports medicine, pediatric, and emergency departments).
