Fluoroscopy is an imaging technique that makes use of X – Ray technology for taking real-time images of the body, allowing physicians to visualize internal organs, muscles, and bones; and helps them make critical decisions during surgery with minimum patient discomfort. Initially fluoroscopy devices used image intensifiers; however new technology based fluoroscopy devices use flat panel detectors for digital image processing that significantly reduces the radiation dose administered to the patient. The global Fluoroscopy and C – Arms market is likely to exhibit a CAGR of 4.5% during the forecast period (2016–2024) with market revenue expected to increase from US$ 2,901.3 Mn in 2015 to US$ 4,290.5 Mn by 2024.
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Factors and trends influencing the market
Rising awareness of interventional surgeries is expected to fuel revenue growth of the global Fluoroscopy & C – Arms market over the forecast period. Also, a shift towards a value based healthcare model, increasing number of hospital mergers and consolidations, increasing adoption of minimally invasive surgeries, a growing demand for enhanced imaging technology, and rising demand for C – Arms in cardiology and vascular surgery is likely to boost market growth in the coming years.
However, high cost of fluoroscopy devices and C – Arms is likely to restrict market growth during the forecast period. The global Fluoroscopy & C – Arms market presents good opportunities for leading market players owing to an increasing demand for C – Arms in emerging markets. The market is likely to witness some key trends in the next few years – the primary one being an increased use of mobile C – Arms as compared to fixed systems.
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The global Fluoroscopy and C – Arms market has been segmented by Product Type into C – Arms and Fluoroscopy Devices; and by End User into Hospitals, Diagnostic Centers, and Specialty Clinics. In the Product Type category, the C – Arms segment is estimated to account for 74.4% revenue share of the global Fluoroscopy and C – Arms market by 2016 end. In the End User category, the Hospitals segment is anticipated to reach US$ 3522.6 Mn by 2024, registering a CAGR of 4.9% over the forecast period.
The global Fluoroscopy and C – Arms market has been segmented into the five major regions of North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. The North America market is expected to register the highest CAGR over the forecast period in the global Fluoroscopy and C – Arms market. The market in North America is estimated to account for 36.7% share of the global market by the end of 2016. High demand for new technology like flat panel detectors and low cool down period are expected to increase the demand for fluoroscopy and C – Arms in North America. The APAC market is expected to register a CAGR of 4.2% over the forecast period and is estimated to reach US$ 677.5 Mn by 2024. The Europe Fluoroscopy and C – Arms market is anticipated to reach US$ 1273.8 Mn by the end of 2024, expanding at a CAGR of 4.5% over the forecast period. Europe is likely to be the second most lucrative regional market in the global Fluoroscopy and C – Arms market.
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Key market players
GE Healthcare (General Electric Company), Koninklijke Philips N.V., Siemens Healthineers (Siemens AG), Hologic, Inc., and Ziehm Imaging are the leading companies operating in the global Fluoroscopy and C – Arms market. The global market is highly consolidated due to the high prices of Fluoroscopy and C – Arms equipment and a large capital required for manufacturing the systems. This has led to a strong competition among leading market players. Manufacturers of Fluoroscopy and C – Arms systems are introducing innovative and cost-effective systems to increase their geographical footprint and strengthen individual market share especially in emerging markets.
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