The fluoroscopy market size has been currently estimated at USD 4.11 billion in 2022 and is anticipated to increase at a CAGR of 5.1% over the course of the forecast period. By 2032, it is predicted that the fluoroscopy market and related equipment would be worth USD 6.76 billion.
Fluoroscopy Market CAGR
Current Valuation of Fluoroscopy Market (2022)
USD 4.11 billion
Fluoroscopy Market Size (2032)
USD 6.76 billion
The fluoroscopy market is primarily driven by the increase in interventional radiology procedures, which necessitate real-time imaging like fluoroscopy. The aforementioned advantage will probably lead to a greater uptake of these devices in the upcoming years.
The treatment of conditions like varicose veins, pulmonary embolism, deep vein thrombosis, abdominal aortic aneurysms, and other common medical conditions make consistent use of this equipment in a wide range of interventional radiological procedures. Future fluoroscopy market growth is anticipated to be fueled by this consistent usage.
Due to collaborations between interventionalists and producers of cutting-edge medical devices, the global fluoroscopy market is anticipated to expand significantly during the forecast period.
Other factors contributing to the market's expansion include an increase in the number of government hospitals, qualified interventionalists, and minimally invasive interventional procedures. At the same time, the need for advanced medical facilities and the radiation-related risks associated with fluoroscopy may be the main barriers to market expansion.
In the upcoming years, fluoroscopy market growth is anticipated to be further accelerated by technological developments like integration with image intensifiers like the Flat-Panel Detector (FPD), rotational angiography with CT images, and use of thallium-doped cesium iodide in conjunction with magnifying fluoroscopes.
Due to a large number of applications, the cardiovascular intervention segment is anticipated to dominate the market over the other segments. Other factors that are anticipated to support the growth of the global fluoroscopy market over the forecast period include increasing demand for orthopedic surgeries as a result of rising rates of traffic accidents in the US, technological advancements, and rising public awareness.
The largest portion of the market for fluoroscopy equipment was held by North America. A significant portion is attributable to the ongoing presence of strategic alliances intended to develop new product generations. Demand in this area is expected to increase due to the implementation of strict regulatory and reimbursement frameworks designed to ensure patient safety and high diagnostic standards.
The significant share of the market for fluoroscopy recorded by North America is attributed to the rising prevalence of obesity. The significant share is due to the rise in minimally invasive surgeries. The region's increased adoption of fluoroscopy over the past few years is a useful tool that offers improved guidance during minimally invasive surgeries.
During the forecast period, the Asia-Pacific fluoroscopy market is anticipated to grow at a profitable rate. Strong economic growth is being seen in the region's emerging economies. The need for advanced diagnostics has increased throughout this region as a result of rising disease prevalence and rising infrastructure standards.
The nature of the global market for fluoroscopy is one of intense competition. Significant businesses like GE Healthcare, Philips Healthcare, and Siemens Healthineers, which account for their commanding market share, are implementing sustainability strategies in this competition. These businesses place a lot of emphasis on different strategies like geographic expansion, new product development initiatives, and mergers and acquisitions.
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The global fluoroscopy market is expected to grow significantly over the forecast period due to tie ups between interventionalists and manufacturers of innovative medical devices.
Growing number of government hospitals and qualified interventionalists, increasing demand for minimally invasive interventional procedures are some other reasons for the growth of global fluoroscopy market. Whereas the requirement of sophisticated medical facilities and radiation related risks associated with fluoroscopy can be the major restraints for the growth of global fluoroscopy market.
The cardiovascular intervention segment is expected to dominate the global fluoroscopy market over the other segments due to large number of applications. Growing number of orthopedic surgeries due to increasing incidences of road accidents in US , advances in technology and increasing awareness among the people are some other factors which are expected to support the growth of global fluoroscopy market over the forecast period.
Geographically, the global fluoroscopy market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa.
North America dominated the global market for fluoroscopy in 2014 due to innovative techniques, good investments in infrastructures and good reimbursement policies for diagnostic procedures. The fluoroscopy market in the Asia-Pacific is expected to grow further with moderate rate due to expanding aging population.
Some of the key players in global fluoroscopy market are GE Heathcare., Orthoscan Inc., Hologic Inc., Shimadzu Corporation, Siemens Medical Solutions, Philips N.V., Hitachi Ltd., Toshiba Medical Systems Corporation, Ziehm Imaging GmbH, Amico X-ray technologies, Carestream Health to name a few.
The global fluoroscopy market is highly competitive as new players are entering into the market such as Canon U.S.A. Inc. because of increasing demand for new innovative techniques in X-ray and radiology.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global fluoroscopy market is classified on the basis of type of surgery, end use and geography.