General Electric Company Emerges As The Largest Competitor In The Global Portable X-Ray Devices Market, According To TBRC’s Report
LONDON, GREATER LONDON, UK, June 20, 2019 /EINPresswire.com/ — The global portable X-ray devices market reached a value of nearly $4700.5 million in 2018, having grown at a compound annual growth rate (CAGR) of more than 8.8% since 2014, , and is expected to grow at a CAGR of 10.0% to nearly $6,872.5 million by 2022.
The portable X-ray devices market consists of the sales of portable X-ray devices by entities (organizations, sole traders and partnerships) that manufacture portable X-ray devices for use in the healthcare industry.
A portable X-ray device is a wireless digital X-ray imaging device for mobile health providers such as doctors and first aid workers in field situations, during home care and in old age homes, as well as for medically oriented aid organizations, ships and offshore platforms. X-rays are a form of electromagnetic radiation of high energy and very short wavelength, which are able to pass through materials and solid objects, including the body. X-rays are used in a wide array of applications in a range of industries such as healthcare, security and art.
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Portable X-Ray Devices Driver And Restraints:
Growth in the historic period resulted from the population aging, growth of the home healthcare services market, and economic growth in emerging markets. Factors that negatively affected growth in the historic period were privacy and security concerns about data transfer in portable X-ray devices, and high prices of portable X-ray devices.
Going forward, advances in technologies, increasing number of patients with chronic diseases and rising awareness about portable medical devices will drive growth. Factors that could hinder the growth of the portable X-ray devices market in the future include increasing interest rates and continued ethical and privacy concerns about data transfer in portable X-ray devices.
Major players in the global market for portable x-ray devices are General Electric Company, Siemens Healthineers AG, Koninklijke Philips N.V., Canon Inc., Onex Corporation.
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High Prices Of Portable X-Ray Devices- During the historic period, the limited affordability of portable X-ray devices due to their high prices proved to be a restraint on the portable X-ray devices market. The starting price of portable X-ray devices varies from $600 to $700 and can increase to $1 million and higher for complex systems . High price tags on portable X-ray devices restrain people’s spending, as medical device expenditure on average accounts for $56.8 a year, from purchasing the devices for the home use . The prices of portable X-ray systems generally depend on the type of functions and diagnosis offered by the systems. Additionally, portable X-ray systems require regular battery replacements, recharging and frequent maintenance that lead to additional costs for the owners of the devices. The high prices of portable X-ray devices hindered the growth of the market during 2014-2018.
To take advantage of the opportunities, The Business Research Company recommends the portable X-ray devices manufacturing companies to consider focusing on manufacturing digital X-ray devices, expanding in emerging markets, offering competitive pricing, increasing visibility through a high-performance website, and targeting geriatric populations.
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Source: EIN Presswire