According to a recent report by Future Market Insights (FMI), the global hand-held X-rays market is poised for substantial growth, with a projected CAGR of 10.9% over the forecast period. The market, valued at USD 805.69 million in 2023, is expected to surge to an impressive USD 2,267.17 million by 2033.
Key Drivers of Market Growth:
The rapid expansion of the hand-held X-rays market is fueled by multiple factors:
- Aging Population: The global increase in the aging population has led to a higher prevalence of conditions such as orthopedic diseases and cancers, driving demand for efficient diagnostic solutions.
- Rising Incidences of Injuries and Chronic Conditions: A surge in sports-related injuries, accidents, and other health conditions necessitates quick and accurate imaging tools, further bolstering market growth.
- Convenience and Efficiency: Compared to conventional devices, hand-held X-ray units offer enhanced convenience, portability, and faster imaging capabilities, making them an attractive choice for healthcare providers.
Moreover, advancements in osteopathy and a focus on minimally invasive diagnostics are enhancing the adoption of hand-held X-ray devices. These units provide high-quality imaging with lower radiation risks, ensuring patient safety and satisfaction.
Government and Industry Support Driving Innovation:
Governments worldwide are prioritizing affordable, high-quality diagnostic imaging solutions, spurring demand for hand-held X-ray devices. Additionally, leading market players are investing heavily in research and development to introduce cutting-edge detection techniques and upgrade existing technologies. These innovations not only strengthen the competitive landscape but also propel the market’s growth trajectory.
Challenges to Address:
Despite its promising growth, the hand-held X-rays market faces challenges, particularly concerning data security. The devices’ ability to store sensitive patient information makes them vulnerable to potential cyberattacks and data breaches, posing a significant restraint on market expansion.
The global hand-held X-rays market holds immense potential, driven by technological advancements, increasing healthcare demands, and a growing focus on patient-centric solutions. Addressing cybersecurity concerns will be pivotal in unlocking the market’s full potential and ensuring sustainable growth in the years to come.
Key Takeaways:
- In 2023, North America is anticipated to hold a notable market share of 34.3% in the hand-held X-rays market. This dominance can be attributed to the region’s significant presence of service providers. Besides, several surgical procedures are being carried out by key companies in the region.
- The ADB forecasts that by 2050, one in four individuals in Asia Pacific is expected to be over 60 years old. Besides, the population of older people in the region is projected to reach close to 1.3 billion.
- The hospital segment is projected to hold a substantial market share of 47.2% in 2023. It is primarily attributed to the growth of the hospital industry, a rise in orthopedic surgeries, and an expanding patient population.
- The orthopedic segment is anticipated to experience a CAGR of 12.5%, fueled by many orthopedic surgeries.
- The hand-held X-rays market is poised to witness remarkable growth, with the dental segment projected to dominate and likely to capture a market share of 93.5% in 2023. The growth of this segment is driven by an increase in individuals with dental issues.
Expanding Market Need: Access Our Full Report for In-Depth Analysis and Trends!
Competitive Background:
The key players operating in the hand-held X-rays market are investing in mergers and acquisitions to gain a significant market share. The manufacturers are also investing in research and development, and are introducing innovative methods to boost production capacity. Product development and market expansion are significant aspects of the hand-held X-rays market. As a result, market participants are likely to have a better overall revenue share in the global market.
Some Key Players in the Global Market Include:
- Dental Imaging Technologies Corporation
- REMEDI Co., Ltd
- Genoray
- OXOS Medical
- MaxRayCocoon.com
- Digital Doc LLC.
- EVIDENT
- Carestream Dental LLC
Key Segments:
Hand-held X-rays as an Application:
- Dental
- Orthopedic
- Others
Hand-held X-rays for End User:
- Hand-held X-rays for Hospitals
- Hand-held X-rays for Outpatient Facilities
- Hand-held X-rays for Research & Manufacturing
Hand-held X-rays Market by Region:
- Hand-held X-rays in North America Market
- Hand-held X-rays in Latin America Market
- Hand-held X-rays in Europe Market
- Hand-held X-rays in East Asia Market
- Hand-held X-rays in South Asia & Pacific Market
- Hand-held X-rays in the Middle East & Africa Market (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube