Handheld Imaging Devices Market is anticipated to grow at a CAGR of ~12.5% from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Handheld Imaging Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the Global Handheld Imaging Devices Market is estimated to account for over US$ 920 million by 2019. The market is anticipated to grow at a CAGR of ~12.5% from 2019 to 2030.
The market growth can be attributed to several factors, which has led to its wide-scale adoption. Rising geriatric population, technological advancements, training programs for end users and increasing chronic diseases such as cancer especially oral cancers are anticipated to further contribute to this substantial market growth between 2019 and 2030. However, the stringent government guidelines & regulation are likely to restrain market growth to a certain extent.
To obtain better insights regarding the market scenario, prominent players are increasingly focusing on collaborative initiatives with several institutes, research centers, and companies. For instance, In December 2019, Butterfly Network announced that it has expanded compatibility of its Butterfly iQ imaging device to 10 Samsung and Google devices.
Rising geriatric population coupled with increasing chronic diseases is anticipated to propel the handheld imaging devices market. Geriatric population is increasing globally; this population is prone to various chronic diseases such as cardiovascular diseases, cancer, diabetes etc., this in turn leads to increasing demand for access to early diagnosis using efficient and easily available imaging devices.
Browse key industry insights spread across 170 pages with market data tables & figures & charts from the report, Handheld Imaging Devices Market by Offering (Hardware and Software), Technology (X-ray/fluoroscopy scanners, Ultrasound scanners, and Optical Coherence Tomography [OCT]), Application (Ophthalmology, Gynecology & Obstetrics, Dentistry, and Orthopedics), End User (Hospitals and Diagnostic imaging centers) - Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/handheld-imaging-devices-market/252
Moreover, major key manufacturer are mainly focusing on technological advancements in terms of portability, apps, and software for handheld imaging devices. Major players are also focusing on training programs for end user which is expected to be one of the major factor boosting the growth of market.
However, stringent government guidelines & regulation are one of the major factor hampering the growth of the market. For instance, the Indian health ministry has notified ultrasound equipment under the Drugs and Cosmetics (D&C) Act to regulate its import, manufacture and sale. With effect from November, 2020 companies that offer ultrasound technology will have to apply for permission from the Drug Controller General of India (DCGI) which is responsible for approval of licenses, before the company can sell their medical devices in India.
Asia Pacific is the fastest-growing market for handheld imaging devices and is anticipated to contribute significantly to the global market share. The growth in this region can be attributed to the rising awareness about early diagnosis of diseases, improving healthcare infrastructure and rapidly growing geriatric population which are more prone to chronic diseases. Countries in the APAC, such as India, China, and Japan, are anticipated to provide significant growth opportunities for the global handheld imaging devices market due to an availability of affordable products and government & private funding for R&D.
Some of the prominent players in the Handheld Imaging Devices market include GENERAL ELECTRIC, Koninklijke Philips N.V, Siemens Healthcare Private Limited, FUJIFILM Corporation, Micro C, LLC, Butterfly Network, Inc., Clarius Mobile Health, The MolecuLight, ZEISS, and KaVo Dental among others.
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