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.
Handheld imaging devices, as the name suggests are the portable devices or scanners that efficiently scan the internal organs of the body for better diagnosis. They are used for different diseases and enable the doctors to visualize and determine further treatment options for the patient. The handheld scanners are majorly used in multiple applications to scan human body parts for diagnosis of various disorders. The handiness of such devices and convenience is easy for the doctors and patients for early screening of the risky diseases. The expansion of these types of equipment and its market is attributed to the increasing prevalence of the chronic disorders worldwide.
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.
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Growth Factor:
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.
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.
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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.
Regional Analysis:
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.
Table of Contents:
1.INTRODUCTION
1.Market Definition
2.Market Ecosystem
1.Market Classification
2.Geographic Scope
3.Years Considered for the Study
1.Historical Years – 2016 & 2017
2.Base Year – 2018
3.Forecasted Years – 2019 to 2030
3.Currency Used for the Study
4.Report Beneficiary List
2.RESEARCH METHODOLOGY
1.Research Framework
2.Data Collection Technique
3.Data Sources
1.Secondary Sources
2.Primary Sources
4.Market Estimation Methodology
1.Bottoms Up Approach
2.Top Down Approach
5.Data Validation and Triangulation
1.Market Forecasting Model
2.Limitations of the Study
3.Assumptions of the Study
3.ABSTRACT OF THE STUDY
4.MARKET DYNAMICS ASSESMENT
1.Overview
2.Drivers
3.Barriers/Challenges
4.Opportunities
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In the end, Handheld Imaging Devices Market industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.
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