Fluoroscopy Device Market
Globally, the market of fluoroscopy devices was priced at US$ 4,436.3 million in the year 2022 and is predicted to the extent US$ 6,242.3 million by the end of the year 2028 at a CAGR of 5.9% from 2022 to 2028. The market of fluoroscopy device across the world is observing robust development owing to high incidence of CVDs (cardiovascular diseases) and rise in elderly (geriatric/aging) population worldwide. Furthermore, rise in need for fluoroscopy devices and increase in the figure of MIS (minimal invasive surgeries) is anticipated to fuel the market growth. Though, issues like risk of exposure to radiations, after effects, and increase in use of renovated fluoroscopy devices are anticipated to hinder the market growth.
Global Fluoroscopy Devices Market: Regional Insights
On the basis of geography, the market for fluoroscopy devices is divided into Asia Pacific, Europe, North America, Latin America and Middle East & Africa.
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Amid regions, North America is anticipated to own the major market share in the predicted period due to rising problem of prolonged diseases and increasing elderly population in this region. For example, as per CDC (Centers for Disease Control and Prevention), in the U.S., the coronary artery disease (CAD) is commonly the more frequent heart disease, taking away 382,820 people’s lives in the year 2020. Over 20.1 Mn adults aging from 20 years and above are having the disease of CAD which is about 7.2%. In the year 2020, in every 2 out of 10 adults of age less than 65 years suffer from CAD. In the process of cardiac catheterization, fluoroscopy is needed to assess the arterial blockages’ presence.
Asia Pacific is anticipated to observe substantial market growth of the fluoroscopy devices worldwide owing to high incidence of CVDs, increasing elderly population, and increasing adoption of fluoroscopy devices in this region. For example, as per to WHO (World Health Organization), about 3540,000 people die in India owing to CVD (cardiovascular disease), which is more noticeable in the older people. People of age 65 years and more are more susceptible to CVDs than the younger generation. As per the studies based on the standardization of age, death rate due to CVD is high than in comparison to the average rate across the globe.
Global Fluoroscopy Devices Market Drivers
Increase in the problem of heart diseases to strengthen the growth of the market
The main factor anticipated to increase the market growth of the fluoroscopy devices worldwide in the predicted period is the increase in incidence of CVDs (cardiovascular diseases) worldwide. For example, as per WHO (World Health Organization), CVDs are the main reason of death worldwide, projecting 17.9 Mn lives every year. Fluoroscopy is required as an aide to allow doctor to control blood flow over the coronary arteries to assess the arterial blockages’ presence in cardiac catheterization.
Rising elderly population to enhance the growth of the market
The other factor which is boosting the market growth of the fluoroscopy devices worldwide is the rise in elderly population globally. For example, globally, the percentage of the elderly population is anticipated to get doubled over to 1.5 Bn for adults aging 65 years and more by the end of the year 2050, as per United Nations. People aging 60 years and above are 12.3% of the world population and by the end of the year 2050, the figure will increase till about 22%. The increasing world population is inspiring the need for enhanced access and improvements in the treatments of healthcare. Fluoroscopy devices play an important role in the growth of healthier diagnosis and treatment processes.
Global Fluoroscopy Devices Market Opportunities
Rise in need for the devices of fluoroscopy worldwide is anticipated to provide substantial opportunities of growth for the market players in the fluoroscopy devices across the world. For example, with the rise in incidence of prolonged diseases, the need for efficient fluoroscopy devices is also rising at a fast speed. FUJIFILM Healthcare Americas Corp. in July 2022 introduced the FDR Cross which is a hybrid c-arm and portable x-ray solution built for ambulatory surgery centers (ASC) and hospitals. C-arm of dual function type is a portable fluoroscopic and radiographic imaging platform, decreasing the demand to add more imaging equipment for vital image guided methods.
Increase in the figure of MIS (minimal invasive surgeries) is anticipated to provide substantial opportunities of growth for the market players in the fluoroscopy device across the world. For example, the imaging tests and the fluoroscopy tests are the non-invasive procedures that offer visual assistance for some medical processes. Fujifilm Medical Systems USA in July 2020 pronounced the introduction of its ELUXEO surgical system, containing endoscopy as well as MIS company portfolios and aids surgeons in doing rigid and flexible endoscopy from a single tower by offering better visualization. This is pushing the market growth.
Global Fluoroscopy Devices Market Trends
Increase in application of fluoroscopy is a new trend
The launch of improved and efficient fluoroscopy equipment has made fast diagnosis of heart diseases more promising. Fluoroscopy is required as an aide to allow doctor to control blood flow over the coronary arteries to assess the arterial blockages’ presence in cardiac catheterization. Therefore, with the rise in the problem of CVD’s, the adoption of the need for such devices is rising. This fashion is anticipated to last in the predicted period, pushing the market growth of the fluoroscopy devices
Advancement of Technology is the other trend
Artificial Intelligence (AI) is the technology which helps to transform health systems. Currently, the AI landscape has been combined with big data and deep-learning to enhance probability and accurateness. Furthermore, the current researchers on the fluoro-less future and the launch of AI into the methods of fluoroscopic methods. The adoption of advanced technology fluoroscopic devices is rising at an increased pace, and this tendency is anticipated to lasts in the predicted period, pushing the market growth of the fluoroscopy devices across the globe.
Global Fluoroscopy Devices Market Restraints
After effects and exposure to radiation to hinder the growth of the market
The main factor anticipated to hinder the market growth of the fluoroscopy devices worldwide is the aftereffects and the risk of exposure to radiation. Fluoroscopy can lead to high dose of radiation, mainly for complicated interventional methods. Radiation-induced injures and caners are the most known after effects affected by the exposure to radiation because of the usage both of fluoroscopic devices. Injuries which are caused by radiation-induced happens just post exposure and radiation-induced cancer takes place late in life, restricting the growth of the market. Though, novel devices aid in improving the satisfaction of the patient since they have low-risks of after effects owing to low levels of radiation.
Increasing acceptance of renovated devices to hamper the growth of the market
The other factor which is hindering the market growth of the fluoroscopy devices worldwide is the increase in acceptance of renovated fluoroscopy devices. For example, the local players as well as the main players in the market, like Philips Healthcare and Siemens Healthcare have introduced renovated diagnostic devices in the market, corresponding the original product’s quality and for affordable prices. Renovated devices are offering the same as the original ones’ manufacture. This is anticipated to hinder the market growth.
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Global Fluoroscopy Devices Market Segmentation
The market report of fluoroscopy devices is divided into type, application and geography.
On the basis of type, the market is divided into Mobile Fluoroscopes and Fixed Fluoroscopes. Among which, the segment of fixed fluoroscopes is anticipated to control the fluoroscopy devices in the predicted period and this is credited to the rising application of fluoroscopes. Fixed systems are engaged in specialized rooms for an extensive array of methods.
The segment of mobile fluoroscopes is also anticipated to observe substantial development in the coming future and this owing to rise in use of mobile fluoroscope. The design provides surgeons more liberty and advanced imaging in a cordless compact.
On the basis of application, the market is divided into Pain Management and Trauma, Gastrointestinal, Urology, Orthopedic, Cardiovascular, General Surgery, Neurology, and other applications. Among which, the segment of orthopedic is anticipated to control the market in the predicted period and this is credited to the increase in acceptance of fluoroscopy devices sand C-arms in the orthopedic clinics, urgent care clinic, critical care and imaging centers.
The segment of Cardiovascular is also anticipated to observe substantial development in the nearby future and this is due to the upsurge in incidence of CVDs (cardiovascular diseases) across the world.
Global Fluoroscopy Devices Market: Key Developments
FUJIFILM Healthcare in November 2021, introduced the Persona CS mobile fluoroscopy system which is a new, compact mobile C-arm imaging solution intended for very fast and seamless positioning in OR (operating room) environments.
Canon Inc. in March 2021 introduced the CXDI_RF Wireless B1 which is a novel wireless digital radiography device that cares for an extensive of imaging techniques, having fluoroscopy and general radiography in Japan.
General Electric Company (GE Healthcare) in January 2021 enhanced the protection and efficacy of fluoroscopy methods with AI and Big Data usages.
Global Fluoroscopy Devices Market: Key Companies Insights
Globally, the market of fluoroscopy devices is very much aggressive. This is credited to the rise in need for fluoroscopy devices worldwide, consequently, market players in the market are emphasizing on introducing new products in the market.
The main companies operating in the market of fluoroscopy devices includes Hologic Inc., Siemens Healthcare GmbH, Shimadzu Medical, Koninklijke Philips NV, FUJIFILM Holdings Corporation, Carestream Health, Canon Medical Systems Corporation, General Electric Company (GE Healthcare), and ATON GmbH (Ziehm Imaging Inc. and OrthoScan, Inc.).
Table of Contents:
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Type
- Market Snapshot, By Application
- Market Snapshot, By Geography
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Increase in prevalence of chronic diseases
- Side effects and the risk of radiation exposure
- Increase in demand for fluoroscopy devices
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTER’s Analysis
- Merger and Acquisition Scenario
- Market Dynamics
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