The medical imaging technique of fluoroscopy displays a continuous X-ray image on a monitor. A fluoroscopy technique involves passing an X-ray beam through the body to produce an image of a particular body part. The image is transmitted to a camera, enabling thorough analysis of the movement of a body part, an instrument, or a contrast agent throughout the body. The utilization of fluoroscopy imaging aids in the diagnosis and direction of various treatment procedures. Several fluoroscopy techniques can be administered as outpatient treatments while the patient is awake or asleep. The procedure may be performed as an outpatient procedure on a conscious patient. For instance, a barium enema or an upper gastrointestinal series examines the esophagus, liver, and small intestine. The second approach involves procedures performed in hospitals on the same day or in-patient procedures, typically under sedation. By way of cardiac catheterization, for instance, the heart and coronary arteries that supply blood to the heart muscle can be examined. Additional fluoroscopy procedures can be performed during surgery under general anesthesia.
Increased demand for fluoroscopy equipment to treat pain & trauma, urological disorders, gastrointestinal disorders, and other conditions is due to the enhanced visibility of the targeted area with fluoroscopy equipment compared to conventional imaging systems. In addition, the aging population is the primary factor driving the expansion of the global market for fluoroscopy equipment. However, complications and risks associated with contrast agents and the high cost of fluoroscopy equipment are expected to impede market growth.
An increase in the elderly population is the key factor driving the market growth for fluoroscopy equipment. The elderly is more likely to develop chronic conditions such as joint pain, urological disorders, cardiovascular diseases, and other orthopedic disorders. The elderly population undergoes structural and functional changes over time. These changes cause the physiological functions of the organism to decline until death. Inadequate organ function leads to the development of several chronic diseases. Due to this population's rapid growth, demand for fluoroscopy equipment is expected to increase during the forecast period.
In 2019, the World Health Organization reported that the global population of people aged 60 and older was one billion. This number is anticipated to reach 1.4 billion by 2030 and 2.1 billion by 2050 on a global scale. This growth in the older population and vulnerability of this population to establish chronic conditions necessitating operative procedures for disease management is anticipated to stimulate the market for fluoroscopy equipment over the forecast period.
The increased prevalence of chronic diseases necessitating fluoroscopy equipment for diagnosing, treating, and monitoring surgical procedures by physicians and surgeons contributes to the expansion of fluoroscopy equipment. These devices enable physicians to view live images of a targeted area, such as the gastrointestinal tract, blood vessels, and associated organs, and direct catheter movement through blood vessels, bile ducts, or the urinary tract. Increased incidences of chronic diseases such as heart disease, urological disorders, and gastrointestinal disorders, among others, are anticipated to drive market growth for fluoroscopy equipment over the forecast period.
North America will grow at a CAGR of 3.85% and hold the largest market share during the forecast period. The presence of major key players in the region, such as Adani Systems Inc. and Koninklijke Philips N.V., is a significant factor driving the growth of the fluoroscopy equipment market. In addition, an increase in demand for fluoroscopy equipment, an increase in the proportion of sports injuries, cardiovascular diseases, and other chronic conditions requiring operative procedures for management, and the presence of advanced healthcare facilities staffed with trained medical professionals all significantly contribute to the growth of the North American market.
The availability of advanced technology, increased demand for advanced healthcare services, higher healthcare expenditures, and technological advancements in fluoroscopy equipment are also significant contributors to the market's growth. Consequently, it is anticipated that the market for fluoroscopy equipment will increase during the period forecast.
Europe will hold the second-largest market share of USD 2,147 million, growing at a CAGR of 4.95%. Due to the increasing demand for advanced fluoroscopy equipment and the dominance of market leaders such as GE Healthcare and Siemens Healthineers AG, the market for fluoroscopy equipment in European nations is anticipated to expand steadily over the forecast period. In addition, the increasing adoption of fluoroscopy equipment by healthcare professionals for visualization of the area on which they are operating and the European Society of Sports Traumatology, Knee Surgery, and Arthroscopy's (ESSKA) ongoing efforts to raise public awareness about orthopedic conditions, sports injuries, and pain management in joints all contribute positively to the market growth of fluoroscopy equipment.
In addition, the rising prevalence of neurological disorders and the introduction of new products in the pharma-medical device industry are significant growth drivers in Europe. In addition, the presence of a developed healthcare infrastructure and the availability of trained professionals are major growth factors for the European fluoroscopy equipment market.
Asia-Pacific will be the fastest-growing region with the highest CAGR. The aging populations of Japan and China are responsible for this region's market expansion. Moreover, an increase in cardiovascular diseases in China would stimulate market growth. Cardiovascular disease (CVD) is the leading cause of death in the Asia-Pacific region, according to the Organization for Economic Cooperation and Development (OECD). Due to a large population base susceptible to orthopedic conditions, a rise in the efficacy of fluoroscopy equipment coupled with favorable reimbursement policies associated with diagnostics devices, and the development of healthcare infrastructure, Asia-Pacific is expected to experience the fastest market growth the forecast period.
The awareness level of healthcare professionals regarding the use and benefits of fluoroscopy equipment is also a factor in the market's rapid growth. Moreover, the increased emphasis of industry leaders on expanding their geographic presence in emerging Asia-Pacific nations to capitalize on high growth opportunities contributes to the market's growth.