Hyderabad, Telengana -- (SBWIRE) -- 02/21/2023 -- Portable X-ray Devices Market is expected to grow at a high CAGR 9.4% in the forecast period (2022-2029). A portable x-ray device is a wireless digital X-ray imaging device for mobile health providers such as doctors and first-aided workers in field situations, during home care, and in old age homes, as well as for medically oriented aid organizations, ships, and offshore platforms. These devices reduce imaging costs by eliminating the use of X-Ray films. The images formed can be directly sent to the physician in the form of a soft copy.

Market Dynamics:

Portable x-ray devices market growth is driven by the growing adoption of portable X-ray devices by healthcare professionals, the rise in government investments, technological advancements, and the rising trend of home care settings.

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The rising prevalence of bacterial infections will drive the market growth

The surging number of imaging diagnostics owing to the surging geriatric population's wider adoption of portable radiology systems across diagnostic centers. Also, an increase in the disorders such as various vascular, dental, and cancer especially breast disorders and others are acting as a major driving factor in the growth of the global portable X-ray devices market. The government is providing grants for various research projects for x-rays is also driving the growth of the market. For instance, in June 2022, the Government of the United Kingdom, Department of Health and Social care issued GBP 36 million to boost Artificial Intelligence technologies to revolutionize National Health Service care. It also reported that nearly about-eight new pioneering artificial intelligence (AI) projects were started that will help revolutionize care and accelerate diagnosis. Such support from the government helps in the development of technologically advanced devices and thus drives the growth of the market over the forecast period.

Major players in the market are also finding this technological development as one of their strategies to uphold in market space and are expanding a lot in research and development and coming up with novel products. For instance, in August 2020, Canon Medical launched s Mobile Digital X-ray System, called SOLTUS 500 Mobile Digital X-ray for enhanced versatility and performance in United States Market. This new system is orthopedics equipped with enhancements that can streamline bedside exams to help improve workflow and productivity. All these developments are anticipated to propel market growth over the forecast period.

The stringent regulatory scenario in the various developed region will hamper the growth of the market

However, the stringent regulatory scenarios in the various developed regions coupled with the high risk of radiation are the factors that are expected to be the major restraint for the market growth.

COVID-19 Impact Analysis:

With the current development of X-ray techniques in the detection of COVID infection, these devices are being rapidly adopted in the diagnosis of lungs. Furthermore, a decrease in the imaging volumes during the pandemic may affect the growth pace of the market. For Instance, the Journal of American College of Radiology article titled 'Impact of the Coronavirus Disease 2019 (COVID-19) Pandemic on Imaging Case Volumes' published in May 2020 reported that the total imaging volume in 2020 (weeks 1-16) declined by 12.29% compared with 2019. It also reported that Post-COVID-19 (weeks 10-16) revealed a greater decrease (28.10%) in imaging volumes across all patient service locations. The same source also reported that an 88% decline was seen at week 16 in outpatient imaging and x-rays contribute nearly 22% decline in it. Such a decline in volumes due to a pandemic also affects the growth of the market.

Segment Analysis:

The digital x-ray devices segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

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 less radiation as compared to analog (traditional) X-rays which makes them highly safer also, the image produced by the digital system are of high quality that is produced immediately after the procedure thus reducing the waiting time and due to these factors, the adoption of digital X-ray systems are increasing around the world which is expected to drive the growth in the studied segment over the forecast period. Additionally, in March 2022, 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, and as per the company, FDR nano enables a "noise reduction circuits that in turn, improves the granularity of low-density regions, and achieves high image quality." Furthermore, in August 2020, Canon Medical launched SOLTUS 500 Mobile Digital X-ray system in the United States market. This new system offers features such as enhanced ease of use, increased productivity, enhanced safety features, simplified detector charging, and increased storage capacity.

Geographical Analysis:

North America region holds the largest market share of the global portable X-ray devices market

North America dominates the market for portable x-ray devices and is expected to show a similar trend over the forecast period. The market for portable X-ray devices in the United States is being driven by the increasing use of advanced technology in healthcare systems and the rising burden of chronic diseases in the country. For instance, according to GLOBOCAN 2020, there were 2,281,658 new cancer cases diagnosed in the United States in 2020, with 612,390 fatalities. Similarly, according to the Arthritis Foundation Fact Sheet, 2019, the number of adults in the United States with doctor-diagnosed arthritis is expected to reach 78.4 million by 2040, accounting for 25.9% of all adults in the country. The increased prevalence of chronic diseases increases the demand for accurate diagnosis and a treatment plan that is both efficient and timely from healthcare providers. As a result, the studied market in the country is expected to grow over the coming years

Also, per the report published by Arthritis in Canada in August 2019, 6 million Canadians, 1 in 5 aged 15 or above, were suffering from arthritis. In addition, as per the same source, around 1 in 2 seniors over 65 had arthritis. Thus, the rising geriatric population and increasing incidence of chronic diseases will drive the growth of the market in the region.

Competitive Landscape:

The portable x-ray devices market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Envista Holdings Corporation (KaVo Dental GmbH), Canon Medical System, GE Healthcare, Koninklijke Philips NV, MinXray, FUJIFILM Holdings Corporation, Shimadzu Corporations, Siemens Healthineers AG, Carestream Health Inc., Philips Healthcare among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the portable x-ray devices market globally. For instance, in March 2022, Konica Minolta, Inc. (Konica Minolta) has launched AeroDR TX m01, a portable X-ray system featuring a wireless dynamic digital radiography function in Japan.

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