The mobile digital x-ray equipment market is likely to grow at a CAGR of 7.1% Until 2026.
Mobile X-Ray is the largest segment likely to be valued at $2.6 billion in 2021, expanding at a compound annual growth rate of 7%, reaching $3.65 billion through 2026.
The mobile digital x-ray segment revenue is expected to expand 2.0 times with a gravity score of 1.8, through 2026.
Through 2026, mobile digital X-ray devices will continue to dominate hospitals and radiology centers worldwide, collectively accounting for 70% of the market revenue share.
APEJ is the emerging market region followed by India and China.
Future Market Insights, in its latest research, provides key insights into the factors influencing the global Digital Mobile X-ray Devices market. According to the report, the demand for digital mobile X-ray machines will continue to emerge with applications in orthopedics and chest imaging. These two final apps captured 60% revenue share in the market in 2016.
Key Driving Factors
- Increasing focus on diagnostic imaging services by various government agencies.
- Increasing the number of elderly – according to the World Health Organization, the number of elderly people in the world will reach 2 billion by 2050
- High incidence of bone diseases and bone injuries – WHO estimates the global prevalence of arthritis at between 0.3% and 1%
- Contractual agreements and acquisitions by manufacturers
- Increasing the adoption of 3D medical imaging devices, especially in the field of orthopedics
- Increasing the number of stand-alone imaging centers
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- The high cost of clinical trials and stringent regulations have been long-standing challenges for manufacturers
- Lack of imaging infrastructure in developing countries. The high cost associated with initial setup and installation has been identified as one of the main limitations
- Increasing pressure on the US healthcare budget and raising awareness among patients about the potential health impact of radiation
By product typeMobile devices will continue to outperform mobile devices. In 2016, among digital X-ray devices sold worth $7.67 billion, 91.5% were portable. However, due to its small core size, the demand for portable digital x-ray devices will grow at a higher compound annual growth rate than portable devices.
Hospitals and radiology centers will continue to be the world’s leading end users of portable digital X-ray machines. These two users collectively captured nearly 70% of the revenue share of the market in 2016. According to Future Market Insights research, these two end-use segments will continue to account for the bulk of the demand for the mobile digital x-ray markets during the forecast period.
Analysis and forecasting by region
- North America is the largest market for mobile digital x-rays globally. Demand for portable digital x-ray machines in the region is driven by strong sales in the United States
- North America’s revenue share of the global market was approximately 32% in 2016. Due to the increasing demand in Asia Pacific excluding Japan (APEJ), Latin America and Japan, North America will see a slight decline in revenue share during the forecast period.
- APEJ is expected to be the fastest growing market for portable digital x-ray devices globally. The market in the region is expected to grow due to the high demand from China and India.
- The Eastern European mobile digital x-ray market will experience the slowest growth among all regions.
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Competitive Landscape Analysis
The leaders in the global digital mobile X-ray equipment market are General Electric Healthcare Limited, Siemens AG, Esaote SpA and Hitachi Ltd. and Koninklijke Philips NV, Planmed OY, EOS Imaging, and Toshiba Medical Corporation. These leading companies are looking to the lucrative APEJ market to take advantage of growing opportunities.
Future Market Insights maintains a positive outlook on the global mobile digital x-ray market and is expected to grow at a 7.1% compound annual growth rate (CAGR) until 2026.
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