(PharmaNewsWire.Com, July 19, 2019 ) Growth in the fluoroscopy equipment market is attributed to the advantages of FPDs over image intensifiers, the use of fluoroscopy in pain management, reimbursement cuts for analog radiography systems, rising geriatric population, growing prevalence of chronic diseases, and awareness programs, conferences, and funding activities. On the other hand, the risk of radiation exposure is expected to limit market growth to a certain extent during the forecast period.
What the Market Looks Like?
The fluoroscopy equipment market is expected to grow from USD 5.7 billion in 2019 to USD 7.1 billion by 2024, at a CAGR of 4.4% during the forecast period. In 2018, North America accounted for the largest share of the fluoroscopy equipment market. However, the Asia Pacific market is projected to register the highest CAGR of 5.4% during the forecast period primarily due to the growing geriatric population in Japan and China and the healthcare reforms and government initiatives & investments in several APAC countries.
Fluoroscopy Equipment Market
By product, the mobile C-arms segment is expected to grow at the highest CAGR during the forecast period.
On the basis of product, the fluoroscopy equipment market is segmented into fixed C-arms, fluoroscopy systems, and mobile C-arms. The mobile C-arms segment is projected to register the highest growth during the forecast period. The rising prevalence of cardiovascular diseases and the increasing number of orthopedic surgeries are some of the major factors driving the growth of the mobile C-arms market. C-arms are used for a wide range of applications, including surgeries for cardiovascular diseases, neurosurgeries, and surgeries for gastroenterology, orthopedics, traumatology, and urology disorders.
By application, cardiology accounted for the largest share of the diagnostic applications market in 2018
On the basis of diagnostic applications, the fluoroscopy equipment market is segmented into cardiology, gastroenterology, urology & nephrology, and other diagnostic applications. Cardiology is the largest diagnostic application segment of the fluoroscopy equipment market. The large share of this segment is attributed to the high burden of cardiovascular diseases (CVDs) worldwide and the convenience and better results offered by fluoroscopy systems during the diagnosis and treatment of various cardiac disorders.
The growth of the global market for Fluoroscopy Equipment is primarily influenced by the following factors:
Advantages of FPDs Over Image Intensifiers Use of Fluoroscopy in Pain Management Reimbursement Cuts for Analog Radiography Systems Rising Geriatric Population and Growing Chronic Disease Prevalence Awareness Programs, Conferences, and Funding Activities Geographical growth scenario of Fluoroscopy Equipment Market
On the basis of region, the fluoroscopy equipment market has been segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World. In 2018, North America accounted for the largest share of the fluoroscopy equipment market. The large share of North America can be attributed to the increasing incidence of overuse sports injuries, rising prevalence of CVD, and the increasing number of hip and knee replacement surgeries in the region.
Leading market players and strategies adopted
The prominent players in the Fluoroscopy Equipment market include Siemens Healthineers (Germany), GE Healthcare (US), Philips (Netherlands), Shimadzu Corporation (Japan), Ziehm Imaging (Germany), Canon Medical Systems (Japan), Hitachi (Japan), Carestream Health (US), Hologic (US), Lepu Medical Technology (China), Agfa-Gevaert Group (Belgium), and ADANI Systems (Belarus). Analysis of the market developments between 2016 and 2019 revealed that partnerships & agreements, product launches, expansions, and strategic acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the fluoroscopy equipment market.
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