Digital Mobile X Ray Market

Digital Mobile X-Ray Devices Market: Handheld Devices Segment Estimated to Register a High CAGR of 8.6% During the Forecast Period: Global Industry Analysis and Opportunity Assessment, 2016-2026

The Mobile X-Ray product segment is the most attractive market segment, anticipated to showcase a healthy CAGR during the forecast period

Mobile X-Ray segment is the largest segment by product type in the global digital mobile X-Ray devices market, which is estimated to be valued at more than US$ 2,000 Mn in 2017, expanding at a CAGR of 7% over the forecast period. Mobile X-Ray segment is expected to create absolute $ opportunity of more than US$ 100 Mn in 2017 over 2016. The segment’s revenue in the global digital mobile X-Ray devices market is expected to grow 2.0x by 2026 end as compared to that in 2016. The Mobile X-Ray segment is projected to remain the most attractive in the global digital mobile X-Ray devices market with an attractiveness index of 1.8.

Stringent regulations, costly clinical trials and inadequate imaging infrastructure in developing economies likely to hinder the growth of the Mobile X-Ray segment

The high cost associated with the clinical trial process has been preventing mobile X-Ray device manufacturers to reach the stage of development, which is necessary to attract major original equipment manufacturers. In the case of diagnostic imaging equipment, clinical trials ideally should be conducted one year prior to the product launch. However, due to the regulatory restrictions, it has become difficult for manufacturers to conduct early stage trials and establish partnerships with local players. For instance, GE Healthcare used to conduct many clinical trials in Canada and had to shut many of its local operations due to the stringent government regulations. Stringent regulatory and product approval policies are expected to hinder the development of the Mobile X-Ray segment.

Inadequate imaging infrastructure in developing and underdeveloped economies is likely to create obstacles in the growth of the Mobile X-Ray segment. Currently, many of the developing and underdeveloped nations lack adequate imaging infrastructure useful to conduct test and technology implementation compared to the U.S and other developed nations. Developed nations have seen greater investments in diagnostic imaging and increased use of more advanced imaging techniques. However, the scenario is the contrast in some of the developing and underdeveloped economies. These economies lack widespread access to diagnostic imaging. In addition, high costs involved in the initial setup and installation of advanced imaging equipment and broadband technology in remote locations is one of the factors that could hamper the growth of the Mobile X-Ray segment.

The usage of medical imaging in the U.S. has increased dramatically over the last decade. Usage of diagnostic imaging devices has been the highest in the U.S. as compared to all OECD member nations. This has led to medical imaging emerging as the highest contributor to U.S. health care expenditure. As a result, certain reductions in Medicare payments have been observed in the last decade. Awareness of the superfluous usage of medical imaging has grown among physicians, and patients are increasingly becoming aware of the radiation hazards. Overall, the effect of these factors has been evident on the Mobile X-Ray device segment in the U.S. and thus, growth in the region has declined. Moreover, the U.S. is the trendsetter in major parts of the market, hence this effect could also trickle down to the other major markets.

global digital mobile x-ray devices market

The Mobile X-Ray segment is predicted to be the most attractive segment across the globe

In the MEA digital mobile X-Ray devices market, the Mobile X-Ray segment is forecast to be the most attractive segment by product type, recording an attractiveness index of 1.8 over the forecast period. In the Western Europe digital mobile X-Ray devices market, the Mobile X-Ray product type segment is expected to perform well during the period of assessment.

Digital mobile X-ray equipment manufacturers are focussing on the development of advanced and cost-effective products according to a new report published by Future Market Insights titled “Digital Mobile X-Ray Devices Market: Global Industry Analysis and Opportunity Assessment, 2016–2026.” Our analysts have observed that a growing geriatric population and increasing bone related diseases provide significant growth opportunities for players in the global digital mobile X-Ray devices market. Companies with low-cost products are expected to gain more benefits in the Asian market. Moreover, global players will remain focussed on the acquisition of local manufacturers for strong distribution network and low manufacturing costs. Our analysts further observed that favourable reimbursement support from private as well as public insurance service providers is playing a crucial role during catheterisation procedures. This has increased the demand for digital mobile X-ray devices in the North America and Western Europe markets.

Our analysts have examined the market in detail and have found that key players are focussing on establishing distribution agreements to increase geographic reach, especially in the Asia Pacific region. Moreover, companies are targeting Asia by establishing manufacturing units in the region in order to reduce manufacturing costs.

Pricing assumptions in the global digital mobile X-Ray devices market

We have considered the weighted average pricing of digital mobile X-ray devices to estimate the revenue forecast of the global digital mobile X-Ray devices market. Product prices have been captured from key manufacturers in top countries for each region, with respect to their estimated market share to arrive at region-wise weighted average pricing. The key players are categorised into three categories – Tier 1, Tier 2 and Tier 3. The pricing has been captured from primary discussions with industry experts and manufacturers in each region. The pricing analysis includes pricing of each type of imaging equipment. Currency fluctuations have not been taken into account and the analysis is static in nature. Our analysts have carried out a demand-supply gap analysis involving both marketplace discussion and desk research in determining pricing premiums. The impact of other forecast factors such as research and development expenditure, increasing prevalence of orthopaedic diseases, sports injuries and trauma cases across the assessed regions, and overall competition in the global market has been considered during pricing analysis.

Report Description

The report begins with the market definition followed by definitions of the different digital mobile X-Ray devices. The market dynamics section includes Future Market Insights’ analysis of the key trends, drivers, restraints, opportunities and macroeconomic factors influencing the growth of the global digital mobile X-Ray devices market and key regulations for medical devices. Also, the pricing analysis of different products in the segment is mentioned for digital mobile X-Ray upcoming products. The report analyses the global digital mobile X-Ray devices market on the basis of application and presents a forecast by value for the next 10 years. The global digital mobile X-Ray devices market segments by product type, technology, application, end user and region, have been analysed in terms of basis point share (BPS) to understand the individual segment’s relative contributions to market growth. This detailed level of information is important for identifying various key trends in the global digital mobile X-Ray devices market.

In the final section of the report, a competitive landscape is provided with a dashboard view of key players operating in the global digital mobile X-Ray devices market. This section is designed to provide clients with a detailed comparative assessment of key providers specific to the various market segments in the global digital mobile X-Ray devices market and the potential players. In addition, this section includes company details, company overview, key developments and market strategies of the profiled key players active in the global digital mobile X-Ray devices market. Detailed profiles of digital mobile X-Ray devices manufacturers are also included in the scope of the report to evaluate their long- and short-term strategies.

Key segments covered in this report

By Region

By Product

By Technology

By Application

By End-User

  • North America

  • Latin America

  • Western Europe

  • Eastern Europe

  • APEJ

  • MEA

  • Japan

  • Mobile X-Ray

  • Hand-Held X-Ray Device

  • Computed Radiography

  • Direct Radiography

  • Orthopaedic Imaging

  • Chest Imaging

  • Dental Imaging

  • Others

  • Hospital

  • Radiology Centres

  • Outpatient Clinics

  • Other End Users

Research Methodology

Our report provides an analysis of key market segments in terms of absolute dollar opportunity, important to assess the degree of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global digital mobile X-Ray devices market. To understand key segments, their growth and performance in the global digital mobile X-Ray devices market, Future Market Insights has developed a market attractiveness index to help providers identify existing market opportunities. The forecast presented in report assesses total revenue of the global digital mobile X-Ray devices market. When developing the market forecast, the starting point involves sizing the current market, which forms the basis for the forecast of how the market is anticipated to take shape in the near future. Given the volatile market characteristics, we have triangulated the outcome on the basis of analysis based on supply and demand side. The report also takes into consideration year-on-year growth to understand the predictability of the market and to identify the right opportunities across the global digital mobile X-Ray devices market.