Fluoroscopy Devices Market

Market Overview

The global fluoroscopy devices market size was valued at USD 4,305 million in 2021. It is estimated to reach an expected value of USD 6,860 million by 2030, registering a CAGR of 6%, during the forecast period (2022–2030).

 Fluoroscopy is an improved X-ray technique that creates moving images of an item on a screen or monitor that resembles a television. It is mainly employed for gastrointestinal tract imaging to identify clinical problems such as tumors, ulcers, inflammation, blockages, etc. The key factors propelling the fluoroscopy devices market include the increasing applications in clinical diagnostics, rising demand for minimally technological advancements, invasive surgeries, and its application in multiple disease conditions. The prevalence of several chronic diseases has significantly increased over the past decade. The threat of these diseases to public health has increased dramatically, resulting in the growing adoption of new diagnostic techniques, thus contributing to market growth.

Market Dynamics

Global Fluoroscopy Devices Market Drivers

Rising Demand for Minimally-Invasive Surgeries

Minimally invasive surgery is any procedure performed through tiny incisions instead of large openings. Recent studies have shown an increasing demand for single incision or small incision types of surgeries as an alternative to traditional surgeries. Additionally, compared to conventional surgeries, the numerous benefits of minimally invasive procedures, such as less surgical discomfort, injury, scarring, hospital stay, higher accuracy, and quick recovery time, entice more patients to choose minimally invasive balloon angioplasty surgery. According to data from the American College of Cardiology, the United States performed 1.2 million angioplasties annually in 2020.

Furthermore, as these surgeries reduce post-operative pain and offer fast recovery, numerous surgeons started performing these minimally invasive surgeries in their clinics, which may add to the market growth. For instance, according to Medicare, ambulatory surgery centers cost the US over 4.9 billion USD in 2018. The Agency for Healthcare Research and Quality (AHRQ) is dedicated to enhancing the safety and quality of ambulatory care in the United States, another factor driving the market's expansion. Hence, the conditions mentioned above and the rising demand for minimally invasive surgeries for treating cardiovascular diseases in recent years may boost the market growth.

Growing Geriatric Population and Prominence of Chronic Diseases

Global population growth drives demand for improved healthcare access and new medical technologies. The need for healthcare goods and services has multiplied during the past ten years due to an aging and growing population, especially in industrialized and high-growth economies. The market for fluoroscopy devices is expanding significantly due to the rising prevalence of chronic diseases.

The aging world population and the increased incidence of chronic diseases strain healthcare systems' capacity and financial viability worldwide. According to the World Population Prospects: the 2020 Revision, about 727 million people aged above 65 in 2020. This estimate may reach more than 1.5 billion by 2050. Fluoroscopy devices promise better patient care for diagnosis and a high safety margin and may also help lower the total healthcare costs. Therefore, the increasing geriatric population, demand for better diagnosis and treatment methods, the role of fluoroscopy devices in developing them, etc., may boost the market growth.

Global Fluoroscopy Devices Market Restraint

Rising Adoption of Refurbished Systems

The price range of a fluoroscopy device and its components varies from USD 1,000 to USD 1,30,000, and so on, which is an expensive affair. In addition, it needs ample space to accommodate. The components used for fluoroscopy are costly, and most healthcare providers are inclined to use refurbished fluoroscopy devices.

Owing to the above conditions, the high maintenance of the fluoroscopy machines, their expensive components along with the rise in out-of-pocket investment by the patients are drawing a thin line over the cost-effectiveness of the diagnosis devices being used for the surgeries because of which even the key players of the market have launched the refurbished diagnostic devices to fulfill the needs of their customers. Consequently, the rising adoption of refurbished systems may restrain the fluoroscopy devices market over the forecast period.

Global Fluoroscopy Devices Market Opportunities

Increasing Use of Fluoroscopy in Pain Management

Fluoroscopy is an imaging technology that allows pain management experts to examine specific bodily structures, such as vertebral or skeletal areas, as part of their treatment strategy. It places the patient between an X-ray spot and a fluorescent screen.

A study titled 'What is the role of fluoroscopy in the performance of therapeutic injections for pain management?’ in 2018 reported that fluoroscopy transformed interventional pain management for more precise needle placement and venturing into new treatment venues, especially within the spinal canal. Precise needle placement allows practitioners to address multiple spinal pain generators with injections that include placement of radiographic contrast, local anesthetics, and corticosteroids into the epidural space, intra-articular facet joints, sacroiliac joints, and intervertebral discs, and this condition depicts the growth of the market.

Another study titled 'Image Guidance Technologies for Interventional Pain Procedures: Ultrasound, Fluoroscopy, and CT' in 2018 reported that patients with uncontrolled chronic pain are likely to benefit from procedures such as spinal injections and nerve blocks. Over time, interventional procedures have changed and improved. The progress of image-guided technologies is one of the critical factors in the enhancement of these procedures. The use of image guidance has dramatically enhanced the precision and safety of these procedures. Fluoroscopy was the first image-guided tool used by pain experts, and this condition may drive the market in the future.

Regional Analysis

By region, the global fluoroscopy devices market is segmented into North America, Europe, Asia-Pacific, and the Middle East and Africa. 

North American Supremacy Across the Market

North America accounts for the largest market share and is estimated to grow at a CAGR of 5.7% during the forecast period. The United States has the presence of several medical technology companies and strong market players engaged in product launches, thereby expanding the growing scope of the market. For instance, in November 2020, FUJIFILM Medical Systems USA Inc., a leading provider of diagnostic imaging and medical informatics solutions, introduced two new systems, namely the Persona C Surgical C-Arm and Persona RF PREMIUM System. These systems may provide digital X-ray imaging studies and fluoroscopy exams, allowing physicians to enhance workflow and assess patients' conditions. The strategic move expanded the company's medical imaging portfolio.

Additionally, ControlRad Inc., a privately held medical technology company that aims to reduce unnecessary radiation exposure during fluoroscopically guided procedures significantly has started its commercial launch after receiving approval from the US Food and Drug Administration (USFDA) for its ControlRad Trace product. The controlled Trace is the only radiation reduction technique now incorporated into mobile C-arms for fluoroscopic imaging. Such advancements are anticipated to stimulate the creation of additional cutting-edge fluoroscopes, supporting market expansion.

Europe is the second-largest region and is estimated to reach an expected value of USD 1,680 million by 2030, registering a CAGR of 6%. The factors contributing to the growth of the fluoroscopy market in Germany are the rising incidences of chronic disorders, growing preference for minimally invasive surgery, increasing geriatric population, and implementation of strategic initiatives by some market players. For instance, the Federal Statistical Office (Destatis) forecasts that between 2020 and 2035, the number of persons aged 67 or older will increase by 22%, from 16 million to an anticipated 20 million.

As the older population is prone to chronic disorders, the rise in the geriatric population will enhance the demand for fluoroscopes in Germany. Additionally, the Statistisches Bundesamt (Destatis) article titled "Number of deaths fell by 1.6% in 2019" reported that a total of 939,520 people died in Germany in 2019, and the most common cause of death was cardiovascular disease. It also accounted for 3,31,211 (35.3% of all deaths) people who died from cardiovascular disease in 2019, of which 1,52,615 were men and 1,78,596 women in Germany. These statistics reflect the increasing usage of fluoroscopes in the country.

Asia-Pacific is the third-largest region. The major factors fueling the growth of the fluoroscopy market in China are the increasing prevalence of cardiovascular disorders, the rising geriatric population, increasing research and development of fluoroscopy, and improving healthcare infrastructure. In addition, as per the National Institute of Ageing, adults 65 years and older are more likely to suffer from cardiovascular diseases (CVDs) as aging can cause changes in heart and blood vessels that increase the risk of developing CVDs in the older population.

As per the 2021 estimates by the World Health Organization (WHO), China has one of the fastest-growing aging populations. The population above 60 years old in China is projected to reach 28% by the year 2040. This reflects that with an increase in the geriatric population, the prevalence of CVDs will increase in China. A significant population will undergo fluoroscopy procedures related to the heart septum, appendage, and valves. Moreover, the increasing preference for minimally invasive surgery significantly contributes to China's high demand for fluoroscopy devices. 

Segmental Analysis

The global fluoroscopy devices market is segmented by device type, application, and region. 

By Type Analysis

By type, the global market is segmented into Fixed Fluoroscopes, Mobile Fluoroscopes, Full-Size Fluoroscopes, and Mini Fluoroscopes.

The Fixed Fluoroscopes segment accounts for the largest market share and is estimated to grow at a CAGR of 5.9% during the forecast period. Fixed fluoroscopes, unlike mobile fluoroscopes, include massive remote generators that can deliver greater power for better tissue penetration and imaging quality. The market is seeing the introduction of many significant players' sophisticated fixed fluoroscopic products. For instance, in 2021, GE Healthcare unveiled the Definium Tempo, a brand-new fixed, overhead tube suspension (OTS) digital X-ray system that aims to serve as a personal assistant to radiologists and technologists by leveraging automation to ease workload burdens and support radiology departments in providing the best patient care possible. Therefore, factors such as innovation in the products, and automation, among other constituents, are expected to drive this segment growth.

By Application Analysis

By application, the global market is segmented into Orthopedic, Cardiovascular, Pain Management & Trauma, Neurology, Gastrointestinal, Urology, General Surgery, and Others.

The Cardiovascular segment accounts for the largest market share and is estimated to grow at a CAGR of 5.6% during the forecast period. Rising product launches related to fluoroscopy of cardiovascular conditions are expected to drive market growth further. For instance, Siemens Healthineers launched the Luminos Impulse fluoroscopy system, including a seamless imaging chain, comprehensive dose optimization, cybersecurity features, and detector-sharing capabilities for radiography.

Fluoroscopic guided percutaneous coronary intervention is a commonly used method to treat coronary artery disease, according to a study published in 2021 on Fluoroscopic Percutaneous Coronary Interventions, Assessment, Protocols, and Interpretation. Ionizing radiation was used to perform almost all percutaneous coronary interventions under fluoroscopic supervision. During the percutaneous coronary intervention, it is crucial to take the proper fluoroscopic images based on the vessel anatomy to prevent missing the affected section. Therefore, the rising adoption of fluoroscopy in cardiovascular diseases is expected to propel segment growth.

The Orthopedic segment is the second largest. According to the American Academy of Orthopedic Surgeons (AAOS) 2019 report, overall, orthopedists perform an average of 30 procedures per month, and full-time practicing orthopedic surgeons undertake an average of 32 orthopedic procedures every month, which is more than one surgery per day (and this assumes surgeons are on seven days per week). The rising adoption of orthopedic surgeries is expected to fuel the growth of this segment.

Recent Developments

• July 2022 - The Minneapolis, Minnesota-based distributor and service provider of medical imaging equipment, NCX Imaging, was acquired by Canon Medical Systems USA Inc., a commercial subsidiary of Canon Medical Systems Corporation and a world leader in cutting-edge diagnostic imaging technology.