Fluoroscopy Equipment Market Is Expected To Increase 1.5x By 2031
As per Fact.MR, a market research and competitive intelligence provider, the global fluoroscopy equipment market is anticipated to top US$ 3.5 Bn by 2031, progressing at a CAGR over 6% over the forecast period of 2021 to 2031.
Fluoroscopy is a type of medical imaging that uses a monitor to display a continuous X-ray image. It consists of a fluorescent screen and an X-ray source. Fluoroscopy devices are primarily used in medical applications and are helpful in diagnosing health conditions and treating patients.
Growing adoption of interventional radiology procedures that require real-time imaging, such as fluoroscopy, is driving the market. Because of their ability to perform efficient real-time injury assessment in athletes, hand-held fluoroscopes are getting prominence in emergency care. Rise in occurrences of pain treatment and injuries, growing focus among healthcare professionals about fluoroscopy use, and rising prevalence of cardiovascular diseases are all contributing to fluoroscopy equipment market growth.
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By Product Type
- Remote-Controlled Fluoroscopy Systems
- Conventional Fluoroscopy Systems
- C-Arms Systems
By End User
- Diagnostic Center
- Urology and Nephrology
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- North America
- Latin America
Factors Fuelling Growth of the Global Fluoroscopy Equipment Market
Emerging technology has led to several innovations including artificial intelligence, wearable, Internet of Things, and 3D printing. With rapid development, technology continues to maintain a strong grip in the healthcare industry. In a bid to offer medical devices equipped with enhanced services, manufacturers operating in the healthcare industry are increasingly integrating the advanced technology in several medical devices. A research recently conducted reveals that several manufacturers in the healthcare industry are integrating technically enhanced tools such as Google Glass and HoloLens launched by Microsoft in the medical devices that are wearable that are used for visual overlays. These wearable devices enable the end users to get information, which help in the treatment process attributed to the image guided intervention.
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Besides healthcare industry, fluoroscopy devices also witness considerable adoption in the aviation industry. Adoption of fluoroscopy devices is projected to remain concentrated in the aviation industry attributed for scanning hidden weapons and bombs. Unlike the medical devices, the fluoroscopy devices used in the aviation industry have comparatively low impact of radiation on the gadgets, luggage, and food products that are scanned.
Although the overall outlook on growth of the fluoroscopy equipment market looks positive, however, strong need to maintain quality standards continues to hinder growth of the global market for fluoroscopy equipment. One marker gap is further attributed to the investigations conducted by FDA, which ensures the level of quality remains high. However, lack of investment and support from the government is likely to hinder growth of the global market of fluoroscopy equipment.
Hospital to Represent a Dominant Segment
Conventional products is expected to sell more than the remote-controlled products in the healthcare industry. Sales of the conventional products is likely to generate significant revenues in the healthcare industry globally. Currently, the conventional product type segment is projected to represent more than US$ 400 Mn in the global market of fluoroscopy equipment by 2022-end.
With growing need for treatment of cancer in the healthcare industry, the hospitals are likely to represent the major end user globally. Increasing adoption for treatment of cancer in the healthcare industry is projected to rev up the sales of the fluoroscopy equipment globally. The hospital end user segment is projected to represent more than US$ 400 Mn by 2017-end. The diagnostic centres and the other end user segment will also contribute towards growth of the global market through 2022. Demand for the fluoroscopy equipment will continue to remain concentrated towards treatment of cardiology diseases. The cardiology application type segment is represent more than US$ 300 Mn by 2022-end. However, gastroenterology application type segment is projected to represent a relatively high CAGR in the global market of fluoroscopy equipment throughout 2022.
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