The global portable x-ray sector is slated to grow at a compound annual growth rate (CAGR) of 14.8% from 2015 to 2020, surging to $4.1 billion, according to a new study conducted by Mordor Intelligence. The report, titled “Global Portable X Ray Devices Market Growth, Trends & Forecasts (2015-2020),” also discusses the forces both driving and impeding market growth.
Key drivers, according to Mordor Intelligence, include an increase in the geriatric population with mobility issues; the rise in awareness regarding portable devices; and huge funding by private players and government agencies to research and develop portable technologies. A growing focus on preventive care is another major factor steering usage. The main challenges, however, include stringent FDA regulations and validatory guidelines, as well as the high cost of portable x-ray devices.
Mordor Intelligence’s report also looked at how geography plays a role in portable x-ray utilization, with North America holding the number one spot; Europe saw the second-highest rates. Even so, the Asian-Pacific portable x-ray market is slated to grow at the highest CAGR during the forecast period. The report also named GE Healthcare, Philips Healthcare, Siemens Healthcare, Fujifilm Medical Systems, Varian Medical Systems, and Toshiba America Medical Systems as the main players in the portable x-ray market.
What’s more, the report explained how heightened demand for point-of-care diagnostics has led to the widespread adoption of portable x-ray devices. Not only can portable x-ray devices be used in military operations, Mordor Intelligence explains that sports and rehab centers can also benefit from such technologies.
For more information about this report, visit Mordor Intelligence’s website.