Latin American portable X-Ray devices market poised to reach USD 427 million by 2020
According to a research report published by Wise Guy Reports, the Latin American portable X-ray devices market is estimated to reach USD 427 million by 2020 by growing at a CAGR of 15.1%. The market reported revenue of USD 211 million for the year 2015. The factors contributing to the growth of the market include an expanding pool of elderly patients living with mobility issues, the rising cognizance level about portable devices, huge funding for research and development of portable devices by private organizations and government bodies, increasing focus on preventive care, and demand of point of care diagnostics leading to invention of portable X-Ray devices. The advantages offered by these devices are: they can be folded in a small size reducing hassles during transportation; they can be attached with the computer in the X-Ray lab; images can be directly viewed on the monitor; and images can be directly sent to physicians in the form of a soft copy, which are also contributing to the growth of the market. However, the aspects such as the strict regulatory rules and guidelines and high cost of portable X-ray devices may confine growth of the market. Among the key players of this market are GE Healthcare, Philips Healthcare, Siemens, Fujifilm, Varian Medical, Toshiba, Shimadzu, and Minxray.