Advanced medical imaging technologies are being embraced all over the world owing to their impressive modality. Their application in diagnostic imaging procedures has grown substantially over the past couple of years. Several technology giants such as Siemens AG, Hitachi Ltd., General Electric Healthcare Limited., Esaote SpA, are actively focusing on developing advanced X-ray devices based on modern medical requirements. For instance, an Australia-based X- Ray technology specialist Micro-X Ltd is preparing to launch its newly developed mobile x-ray unit, ‘DRX Revolution Nano’. The device has successfully cleared all the mandatory approval requisites and has been given a green signal by the International Organization for Standardization (ISO). The company develops and manufactures a host of ultra-lightweight and innovative mobile x-ray imaging systems for security and medical purposes.
As the global market for digital mobile X-Ray devices continues to become more competitive in nature players such as Planmed OY, Toshiba Medical Corporation, Koninklijke Philips N.V, and EOS Imaging put higher emphases on introducing customised products to further consolidate their position. A study conducted by Future Market Insights (FMI), reveals that the digital mobile X-ray market globally will expand at a compound annual growth rate of over 7% between 2016 and 2026. These leading companies are eyeing on emerging countries such as China, India and Brazil that present lucrative business opportunities. Meanwhile, in the US, medical imaging has already gained a considerable amount of exposure, hence, the market for digital mobile x-ray is nearing a saturation point. However, the country will continue to be a leader in the field of medical imaging technology. In addition, medical imaging makes up for a huge contribution to the revenues of the healthcare sector in the US.
Moreover, the US has always been a trendsetter when it comes to application and usage of new healthcare technologies, which keeps it ahead in the race for market supremacy. Increasing awareness about the advantages of medical imaging amongst both doctors and patients is also a major factor boosting their adoption not only in the US but other parts of the world as well. However, the high cost of clinical trials associated with new imaging technology approvals is limiting developmental progress to a certain degree. Ideally, clinical trials for diagnostic imaging equipment should be completed within a year before the product finally enters in the market. But, owing to various regulatory complications, the approval procedures often get delayed extensively, making it difficult for manufacturers to commit to local players and suppliers.
For example, GE Healthcare recently closed down its clinical trial programs in Canada owing to complex government regulations. Poor product approval systems and stringent regulations are hampering the further development of Mobile X-Ray technology. In developing countries, lack of imaging infrastructure and sluggish adoption are identified as two major factor inhibiting the Mobile X-Ray devices market. As compared to North America and Europe, developing regions such as Asia, Africa and South America are yet to have adequate imaging infrastructure to conduct tests. Which is why developed nations are witnessing higher investments in diagnostic imaging and robust use of new age imaging techniques.
