The major factors driving the growth of the fluoroscopy equipment are 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. The Fluoroscopy Equipment Market is expected to grow from USD 5.9 billion in 2020 to USD 7.5 billion by 2025, at a CAGR of 4.8% during the forecast period.
Fluoroscopy Equipment Market Dynamics
Driver: Advantages of FPDs over image intensifiers
The evolution of fluoroscopy systems and C-arms from traditional X-ray image intensifier technology to digital flat-panel detectors (FPDs) has brought about significant advancements in fluoroscopic imaging. FPDs have a number of advantages over image intensifiers, including compact sizes and reduced radiation dose. Systems with FPDs have the potential for higher image resolution than their predecessors.
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Restraint: Radiation exposure
Although fluoroscopic procedures ensure minimally invasive diagnosis, they come with the risk of radiation exposure. Fluoroscopic procedures can result in high radiation dose exposure for complex procedures, such as stent placement. These procedures are time-consuming, which greatly increases the radiation that patients are exposed to and the risk of hazards such as radiation-induced injuries to the skin and underlying tissues. The long-term side-effects of prolonged radiation exposure can also include cancer.
Challenge: Increased adoption of refurbished diagnostic imaging systems
Many hospitals in developing countries are unable to invest in fluoroscopy equipment due to their high costs, poor reimbursement rates, and budget constraints, and therefore prefer refurbished systems. These systems are less expensive than new systems—approximately 40% to 60% of the original price.
Opportunity: Growing demand for data – integrated imaging systems
Data-integrated imaging systems enable the processing and reconstruction of images, computer-assisted recognition of medical conditions, generation of 3D images, and the use of appropriate quality control systems. These systems come with a software package that helps store patient information. With the help of data integration, physicians can easily compare scans to effectively observe disease progression.
North America accounted for the largest share of the fluoroscopy equipment market in 2018, while the Asia Pacific market is expected to register the highest growth during the forecast period
In 2019, North America accounted for the largest share of the fluoroscopy systems market. Factors such as the increasing incidence of overuse sports injuries, rising prevalence of CVD, and the increasing number of hip and knee replacement surgeries are driving the growth of the North American fluoroscopy equipment market. However, the Asia Pacific market is projected to register the highest CAGR 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.
Key Market Players
The major players in the fluoroscopy equipment market are Siemens Healthineers (Germany), GE Healthcare (US), and Philips (Netherlands). These companies together accounted for a share of ~80% of the fluoroscopy equipment market in 2018. Other players in the market include Shimadzu Corporation (Japan), Ziehm Imaging GmbH (Germany), Toshiba Medical Systems Corporation (Japan), Hitachi Ltd. (Japan), Carestream Health, Inc. (US), Hologic, Inc. (US), Lepu Medical Technology Co., Ltd. (China), Agfa-Gevaert Group (Belgium), and ADANI Systems Inc. (Belarus) among others.
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