Handheld Imaging System Market Size, Share, Growth, and Industry Analysis by Type (Wireless Handheld Imaging System, Wired Handheld Imaging System Other Types), By Application (Hospital, Ambulatory Surgical Center, Specialty Clinics Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Handheld Imaging System Market REPORT OVERVIEW

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The global handheld imaging system market size was USD 1621 million in 2022 and market is projected to touch USD 4752 million by 2031,at a CAGR of 12.7% from 2022 to 2031.

Patients are diagnosed using little versions of enormous diagnostic imaging machines, which are sold on the market. By making results available quickly compared to traditional testing procedures, such portable or pocket-sized equipment offer advantages. As a result, doctors and other healthcare professionals can quickly diagnose patients and give them appropriate treatment thanks to handheld technologies. The market is expected to grow as a result of factors such as the rising prevalence of lifestyle-related diseases, the rising demand for early detection tools, technological advancements to speed up turnaround times, increased government investment & reimbursement initiatives, and the expansion of new facilities by market players in developing countries.

COVID-19 Impact: Pandemic Effectuated the Emphasize and Downsized the Market Demand

The COVID-19 pandemic has had a significant negative influence on the world economy on many levels, which is also evident in the healthcare sector. Due to the closure of production facilities, severe shortage in raw material supply, and lack of qualified labour, the booming market for health care research and development is predicted to have a sharp fall in sales during the lockdown period. The pandemic's present effects can be inferred from the supply chain and production operations encountering some modest difficulties. After COVID-19, the market is anticipated to gradually recover, which will offer appealing chances for sales in numerous parts of the world in the years to come.

LATEST TRENDS

"The Advancements and Development Made in the Device to Inflate the Market Demand"

Devices in the chip market are developing quickly and is promoting the market for handheld imaging devices. providing the producers and researchers with the main benefit. As a result, the market for handheld imaging systems is poised for substantial growth because to the current boom in software development and artificial intelligence with a focus on healthcare. As an illustration, the Indian government introduced X-Ray Setu in June 2021 as a free Artificial Intelligence (AI)-based platform to help physicians with the early COVID-19 therapies. Additionally, handheld imaging devices are linked to apps and software that can be used on smartphones, allowing doctors to track patients' health indicators by scanning various internal organs in real-time.

Handheld Imaging System Market SEGMENTATION

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• By Type

Based on type; the handheld imaging system market is divided into wireless, wired and others.

• By Application

Based on the application; the handheld imaging system market is divided into hospital, ambulatory surgical center, specialty clinics and others.

DRIVING FACTORS

"Innovation in Advanced X-Ray System to Advance the Market Share"

Advanced X-ray systems are being developed by businesses to overcome the drawbacks of traditional wall-mount machines. For instance, the German company KaVo Dental announced the release of NOMADTM Pro 2, a novel handheld X-ray equipment suitable for normal dental procedures. Most dental clinics are gradually adopting cutting-edge handheld X-ray devices. Businesses in the market for handheld imaging equipment are concentrating on the requirements of clinicians so that dentists can obtain reliability through these systems during the demands and appreciations of a busy dental office. They are becoming more proficient in technologies that improve the portability and safety of these devices. X-ray systems with high-capacity battery technology are being introduced by companies in the handheld imaging system market.

"Rising Demand for Portable Devices to Drive the Market Growth"

Handheld imaging system are portable or mobile imaging equipment or scanners used to view internal organs or scan body components in order to diagnose various ailments and decide on the best course of therapy. The market for handheld imaging devices is seeing an increase in demand for lightweight, portable scanners that can do whole-brain MRI scans for patients with mobility issues. The use of these portable imaging equipment for disease screening has increased recently due to their portability and ease of use.

RESTRAINING FACTORS

"The Storage of Data and Difference in Results to Restrain the Market"

Handheld imaging system may not always match up perfectly with centralised laboratory tests, because of this researchers and manufacturers are, however, constrained by issues with imaging artefacts during the establishment of a consistent magnetic field for image coding. Data storage is a significant issue when using handheld imaging systems. The National Center for Biotechnology Information (NCBI), 2019, reported that identifying vascularity (in the context of oncology), treating ectopic pregnancies, and dealing with obese individuals were less useful when using hand-held imaging instruments. Over the course of the forecast period, the aforementioned reasons are anticipated to constrain the handheld imaging system market growth.

Handheld Imaging System Market REGIONAL INSIGHTS

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"North America to Lead the Market with Presence of Developed Healthcare System"

The North American region led the market as a whole and generated more than one-fourth of worldwide market. The abundance of major industry players and the high frequency of new product launches in the area are the main drivers of regional market expansion. Because to advantageous reimbursement policies and backing from industry players, the region has a high rate of adoption of cutting-edge, expensive medical imaging equipment. In terms of GDP, North America spends the most money on healthcare. The aforementioned elements, as well as the ageing population, an increase in chronic disease cases, and the tendency toward preventative diagnostic methods, are anticipated to boost the regional market. The participation of prominent market players in clinical trials and research projects pertaining to the handheld imaging system market share is anticipated to boost market growth in the region.

KEY INDUSTRY PLAYERS

"Key Industry Players to Promote the Market Expansion"

The market's expansion was significantly impacted by the techniques employed by market participants in recent years, such as extensions. The report covers details and information about the firms and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other considerations taken into account for this market are the businesses that develop and provide new products, the geographic areas in which they function, mechanization, innovation strategies, generating the maximum revenue, and using their products to make a significant difference.

List of Market Players Profiled

• Hitachi (Japan)
• Philips (The Netherlands)
• Butterfly Network (U.S.A)
• Analogic (U.S.A)
• GE (U.S.A)
• Fujifilm Holdings (Japan)
• Samsung (South Korea)
• Shimadzu (Japan)
• Siemens (Germany).

REPORT COVERAGE

This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching  of recent industry developments,  deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.