Market Trends of Asia-Pacific Digital X-ray Devices Industry
Portable Systems Segment is Expected to Hold a Significant Market Share Over The Forecast Period
- Portable X-ray has been a valuable tool for diagnosing and monitoring patients in the healthcare setting, where the transfer of patients to the radiology department is challenging. The portable X-ray machine has the potential to overcome location barriers and benefit patients who are in life-threatening situations and require immediate treatment wherever they are, possibly needing an on-the-spot diagnosis.
- As per an article published in the National Library of Medicine in October 2021, one significant benefit of using a portable X-ray is its ability to avoid transport and extra movements of patients. Radiograph examinations using mobile imaging equipment offer less processing speed and eliminate long wait times. Portable X-ray machines can take less than 20 minutes.
- Furthermore, portable X-ray devices offer potential socio-economic advantages by reducing the use of ambulance and taxi transportation, as well as personnel pull-out to accompany the patients to and from the hospital. Mobile X-rays help reduce overall costs. Hence, the advantages associated with portable X-ray is expanding the product demand.
- The new launches are further propelling the market growth. For instance, in July 2022, Shimadzu Corporation added a new MobileDaRt Evolution MX8 Version v type digital mobile X-ray system to the mobile X-ray system lineup for release outside Japan. The system incorporates digital radiography (DR), which is in demand outside Japan. With the advantages of portable systems and increasing product launches, the segment is expected to grow significantly over the forecast period.
- Hence, owing to the aforementioned factors, such as the advantages of portable X-ray devices and rising product launches, the segment is believed to witness rapid growth over the forecast period.
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India is Expected to Hold a Significant Share in the Digital X-ray Devices Market Over The Forecast Period
- India is expected to hold a significant share of the digital X-ray devices market mainly because of the rising geriatric population, the high burden of orthopedic and dental diseases, and the rising product launches.
- The geriatric population is prone to orthopedic, dental, and other diseases. Digital x-ray devices are highly beneficial for this population because of the difficulty of commute. For instance, according to the United Nations Population Fund dashboard statistics updated in 2022, an estimated 7% of India's total population was 65 years or older in 2022.
- Also, according to the National Statistical Office (NSO)'s Elderly in India 2021 report published in August 2021, India's elderly population (aged 60 and above) was projected to reach from 138 million in 2021 to 194 million in 2031. Hence, the high burden of the geriatric population is expected to expand the market growth during the forecast period.
- Furthermore, investments in medical devices are increasing in India, which is anticipated to create opportunities for growth in the digital X-ray devices market. The India Brand Equity Foundation December 2021 update reported that the Indian medical device market growth is mostly driven by 75-80% imports from countries such as the United States, China, and Germany. In addition, in recent times, exports have seen a surge in demand. The 'Atma Nirbhar' Bharat mission is providing momentum to India's vision of becoming a global manufacturing hub for medical devices. This is expected to fuel India's digital x-ray devices market growth during the forecast period.
- The local market players are investing heavily in product development and launches to boost digital X-ray device manufacturing in India. For Instance, in March 2021, Fujifilm India Pvt. Ltd launched FDR Micro, a portable digital radiology system. This revolutionary digital radiology technology provides noise reduction circuits, which in turn increases the granularity of low-density zones and achieves good image quality. It offers high-resolution imaging with minimal X-ray doses in healthcare settings.
- Therefore, the aforementioned factors, such as the rising geriatric population, increasing government initiatives to expand the manufacturing of medical devices, including digital X-ray devices, and product launches, are anticipated to propel the market growth in the country.
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