Number of pages: 100 | Report Format: PDF | Published date: February 28, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
Report Attribute |
Details |
Market Size Value in 2021 |
US$ 6.3 billion |
Revenue Forecast in 2030 |
US$ 9.28 billion |
CAGR |
4.4% |
Base Year for Estimation |
2021 |
Forecast Period |
2022-2030 |
Historical Year |
2020 |
Segments Covered |
Product, Application, End User, and Region |
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global fluoroscopy equipment market was valued at US$ 6.3 billion in 2021 and is expected to register a revenue CAGR of 4.4% to reach US$ 9.28 billion by 2030.
Fluoroscopy Equipment Market Fundamentals
Fluoroscopy equipment is a type of medical imaging technology that uses X-rays to produce real-time images of a patient’s body. This imaging technique is often used during diagnostic or therapeutic procedures that require the physician to view the inside of the patient’s body in real-time. Fluoroscopy equipment consists of a fluoroscope, which is essentially an X-ray machine equipped with a fluorescent screen that allows the physician to see the X-ray images in real-time.
Fluoroscopy equipment is commonly used in a variety of medical fields, including cardiology, gastroenterology, urology, and orthopedics. It can be used to diagnose and treat a range of conditions, such as blocked blood vessels, digestive system disorders, urinary tract issues, and bone fractures. During the procedure, the patient is positioned on a table or in a chair, and the fluoroscope is adjusted to focus on the area of the body that needs to be imaged. Fluoroscopy equipment is generally less expensive than other imaging technologies, such as MRI or CT scans. This makes it a cost-effective option for healthcare providers and patients alike. The physician can then view the real-time images on a monitor and guide the procedure accordingly.
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Fluoroscopy Equipment Market Dynamics
The rise in the prevalence of chronic disorders that require real-time imaging systems is the major driving factor of the fluoroscopy equipment market. Moreover, fluoroscopy is regularly employed in a variety of interventional radiological treatments, which is also increasing the demand for fluoroscopy equipment. The growing adoption of advanced technologies, such as flat-panel detector (FPD), and thallium-doped cesium iodide coupled with magnifying fluoroscopes, is also boosting the revenue growth of the fluoroscopy equipment market. Additionally, the rise in orthopedics and traumatic surgical procedures with the increase in the number of sports injuries is propelling the revenue growth of the fluoroscopy equipment market. Similarly, the rising geriatric population and increasing application of fluoroscopy in pain management with good reimbursement policies are fueling the fluoroscopy equipment market growth.
However, the radiation-related risk associated with fluoroscopy, such as injuries to the skin and underlying tissues and cancer further in life, is the major restricting factor of the fluoroscopy equipment market revenue growth. Moreover, the presence of alternative non-radiation-based technology is also hampering the fluoroscopy equipment market revenue growth.
Fluoroscopy Equipment Market Ecosystem
The global fluoroscopy equipment market has been analyzed from four perspectives: product, application, end user, and region.
Fluoroscopy Equipment Market by Product
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Based on product, the global fluoroscopy equipment market is segmented into fluoroscopy systems and C-arms.
The fluoroscopy devices segment dominated the fluoroscopy equipment market with the largest market revenue share in 2021. This is attributed to the robust application of fluoroscopy devices in different medical procedures, including angiography and discography. Additionally, fluoroscopy devices are less impacted by body surfaces, producing images with improved clarity, stability, and real-time tracking. Moreover, technologically sophisticated designed fluoroscopes provide automatic dose rate and image quality control logic for interventional angiography suites and cardiac catheterization laboratories and are equipped with radiation reduction equipment and control circuits. These features are boosting segment revenue growth. The integration of fluoroscopes with modern image intensifiers and spectrum shape filter technologies is thought to improve image-guided surgical operations, boosting their acceptance by radiologists and surgeons.
Fluoroscopy Equipment Market by Application
Based on application, the global fluoroscopy equipment market is segmented into cardiovascular, pain management & trauma, neurology, gastrointestinal, urology, orthopedic, general surgery, and others.
The cardiovascular segment accounted for the largest revenue share of the fluoroscopy equipment market in 2021. The prominent share of the cardiovascular segment is largely attributed to the rising prevalence of cardiovascular disorders, which is the leading cause of death globally. In cardiac catheterization, fluoroscopy provides images of the flow of blood through the coronary arteries. Moreover, fluoroscopy is used in electrophysiologic procedures for the treatment of heart rhythm problems, thus increasing the demand for fluoroscopy in cardiovascular disorders. Similarly, percutaneous coronary interventions, coronary angiography, diagnostic electrophysiology tests, and radiographic catheter ablation are the procedures that use fluoroscopy the most frequently. A significant driver in the growth of the segment is the increasing number of conferences and exhibitions held by manufacturing firms to promote fluoroscopy tools in cardiology.
Fluoroscopy Equipment Market by End User
Based on end user, the global fluoroscopy equipment market is segmented into hospitals, diagnostic laboratories, and specialty clinics.
The hospitals segment accounted for a significant revenue share of the fluoroscopy equipment market in 2021. This can be attributed to the presence of large patient footfall in hospitals. Moreover, hospitals have a well-developed infrastructure for surgical procedures, thus increasing the demand for fluoroscopy in hospitals. Additionally, a rise in government initiatives to provide good reimbursement and subsidiaries for hospitals is propelling the segment revenue growth.
Fluoroscopy Equipment Market by Region
Based on the region, the global fluoroscopy equipment market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America dominated the global fluoroscopy equipment market in 2021. The rising prevalence of chronic diseases and the increasing number of minimally invasive surgeries are some of the factors contributing to the revenue growth of the market in this region. In addition, the presence of leading market players and well-established healthcare infrastructure in the region are also contributing to market development.
Asia Pacific is the fastest-growing regional market. The rising prevalence of chronic diseases and the increasing number of minimally invasive surgical procedures are major driving factors of regional development. Moreover, the presence of well-developed healthcare infrastructure with the availability of cutting-edge technology is boosting regional growth. A rise in the number of traumatic and sports-related injuries in the region is fueling the number of surgical procedures requiring fluoroscopy. Furthermore, the presence of the major key players is also expected to fuel regional growth.
Fluoroscopy Equipment Market Competitive Landscape
The prominent players operating in the fluoroscopy equipment market are:
Fluoroscopy Equipment Market Strategic Developments
The fluoroscopy devices segment accounts for the largest revenue share of the market.
The fluoroscopy equipment market was valued at US$ 6.3 billion in 2021.
The radiation-related risks associated with fluoroscopy and the availability of alternative technologies are some of the restricting factors of the market.
GE Healthcare, Siemens Healthineers, Koninklijke Philips N.V., Shimadzu Corporation, and Toshiba Medical Systems Corporation are top market players.
Fluoroscopy is a medical imaging process that displays internal organs and tissues functioning in real-time on a computer screen using a number of pulses (short bursts) of an X-ray beam.
*Insights on financial performance are subject to the availability of information in the public domain