Explosive Growth on Portable X-ray Devices Market 2023 Leading Key Players - ARIBEX, CANON MEDICAL SYSTEMS, GENERAL ELECTRIC COMPANY, MINXRAY, QIOPTIQ, SHIMADZU CORPORATIONS

The global portable X-ray devices market is expected to register a CAGR of 8% during the forecast period of 2018-2023. North America is anticipated to dominate the market during the forecast period owing to rapid technological advancement and the presence of leading market players in the region.

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Huge Funding for R&D of Portable Technologies
The growing adoption rate of portable X-ray systems by healthcare professionals has prompted multinational firms to invest in this market. Market players who already have their products in the X-ray segment have invested in the portable X-ray devices market to extend their product portfolio. Also, the government is investing significant amount for the R&D of portable medical devices to meet the growing demand from end users. Additionally, technological advancement, growing geriatric populations, and increasing focus on preventive care are likely to drive the market growth of portable X-ray devices globally.

Key Developments in the Market
• February 2018: Qioptiq introduced SlimLine for X-ray Diagnostics featuring Spine Mode. The new operation mode enables automatic optimization of overexposed images for maximum contrast and visibility of the spine.
• July 2016: Canon Medical Systems Europe B.V. acquired DelftHold B.V., a company specialized in healthcare information technology (IT) solutions, and digital X-ray systems.

Major players:
ARIBEX, INC., CANON MEDICAL SYSTEMS, GENERAL ELECTRIC COMPANY, KONINKLIJKE PHILIPS N.V., MINXRAY, QIOPTIQ, SHIMADZU CORPORATIONS, SIEMENS HEALTHCARE GMBH, TOSHIBA MEDICAL SYSTEMS CORPORATION, AND VARIAN MEDICAL SYSTEMS, INC., amongst others.

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Stringent Regulatory Scenario
FDA’s Center for Devices and Radiological Health (CRDH) is responsible for regulations of manufacture, repackage, relabel, and import of medical devices. In addition, CRDH regulates radiation-emitting electronic products (medical and non-medical) such as X-ray systems, ultrasound equipment, etc. The process of manufacturing an X-ray system includes establishment registration, premarket notification, premarket approval, investigational device exemption, quality system regulation, etc. This process puts a financial burden on the company and is time-consuming. Also, the radiation emitted by the system should be within permissible limits. Stringent FDA regulations are a major restraint, and hence small and medium-sized companies refrain from investing in X-ray systems. Additionally, high risk of radiation exposure is further restricting the growth of the market.

North America is the Largest Market
North America is the largest market for global portable X-ray devices owing to the presence of leading medical devices manufacturer, and growing awareness regarding preventive care and early diagnosis, which is augmenting the demand of portable X-ray devices in the region. In terms of growth, Asia-Pacific is the fastest growing region due to growing awareness regarding early diagnosis, and rising incidence of chronic diseases in the region.

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