The global fluoroscopy equipment market size was valued at USD 4,684 million in 2021, which is estimated to reach USD 6,853 million growing at a CAGR of 4.87% during the forecast period. Fluoroscopy is a medical imaging technique that displays a continuous X-ray image on a monitor. A fluoroscopy technique involves sending an X-ray beam through the body to produce a scan of a specific body part. The image is transmitted to a camera, allowing for a comprehensive analysis of the movement of a body part, an instrument, or a contrast agent throughout the body. Fluoroscopy imaging aids in the diagnosis and guidance of various treatment procedures.
Several fluoroscopy techniques may be administered as outpatient treatments while the patient is awake or asleep. The procedure can be performed as an outpatient procedure when the patient is conscious. Such as a barium enema or an upper gastrointestinal series to examine the esophagus, liver, and small intestine. Procedures performed in hospitals on the same day or as in-patient procedures, typically while a patient is sedated, constitute the second approach. For instance, the heart and coronary arteries that supply blood to the heart muscle are examined using a technique known as cardiac catheterization. Under general anesthesia, additional fluoroscopy procedures can be performed during surgery.
Increased demand for fluoroscopy equipment for treating pain & trauma, urological disorders, gastrointestinal disorders, and other conditions due to the enhanced visibility of the targeted area with fluoroscopy equipment compared to conventional imaging systems. In addition, the rise in the elderly population is the primary factor driving the expansion of the global fluoroscopy equipment market. However, complications and risks associated with contrast agents and the high cost of fluoroscopy equipment are anticipated to impede the market's expansion.
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Growth of the Geriatric Population and Prevalence of Chronic Diseases to Support Market Growth
An increase in the elderly population is the primary factor driving the Fluoroscopy Equipment market growth. The elderly are more likely to develop chronic conditions like joint pain, urological disorders, cardiovascular diseases, and other orthopedic conditions. Time causes structural and functional changes in the elderly population. These changes result in a decline in the person's physiological functions until death. This results in certain chronic conditions due to impaired organ function. During the forecast period, demand for fluoroscopy equipment is anticipated to increase due to this population's rapid growth.
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.
Increased prevalence of chronic diseases necessitating fluoroscopy equipment for diagnosis, treatment, and monitoring of surgical procedures by physicians and surgeons also contributes to the fluoroscopy equipment market expansion. These devices enable healthcare professionals 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 system. Increased occurrences of chronic diseases like heart disease, urological disorders, and gastrointestinal disorders, among others, are expected to drive the fluoroscopy equipment market growth over the forecast period.
Radiation Exposure to Restrict Market Growth
Patients are frequently subjected to radiation during minimally invasive fluoroscopy procedures. For complicated procedures, like stent insertion, fluoroscopy may result in a high radiation dose. These lengthy treatments increase the radiation patients are exposed to and the likelihood of complications such as radiation-induced skin and underlying tissue damage. Cancer is one of the long-term complications of chronic radiation therapy. According to an article by the Food and Drug Administration, fluoroscopy and other X-ray procedures carry certain risks. The radiation dose a patient receives can vary depending on the specific procedure. Fluoroscopy is associated with relatively high radiation doses.
Surging Demand for Data Integrated Imaging Systems to Spur Market Opportunities
With data-integrated imaging systems, it is possible to perform image analysis and restoration, computer-assisted medical condition identification, 3D image generation, and appropriate quality management systems. These programs provide a software toolkit for storing patient information. Physicians can easily correlate scans using data integration to track disease progression. To formulate a treatment plan, clinicians require access to accurate, integrated reports on the diagnostic history of a patient. In addition to data aggregation, mobile technologies provide a significant chance for data transmission.
Due to their advantages, convenience, and high demand among clinicians, data-integrated applications have significant commercial potential. These developments in data-integrated imaging systems and the increasing demand for them represent a significant advantage for the fluoroscopy equipment market.
The global fluoroscopy equipment market is bifurcated based on product, application, and region.
Based on the product, the fragments include fluoroscopy devices and a c-arm.
Fluoroscopy devices are mostly anticipated to hold the largest market share during the forecast period growing at the highest CAGR of 5.33%. Fluoroscopy devices enable healthcare professionals to see a patient's internal structure and function, allowing them to observe certain bodily functions such as the heart's pumping action or swallowing motion. During the forecast period, this segment's growth is anticipated to be bolstered by a rise in the adoption of new technologies of fluoroscopy devices. Humans will be exposed to less harmful radiations due to technological advances such as reducing radiation production through controlled circuits, which is anticipated to increase the demand for fluoroscopy equipment.
C-arms are imaging instruments that are based on x-ray technology. They consist of two major components: the x-ray detector and the x-ray source. In addition, it involves a computer workstation for displaying, controlling, recording, and transferring these images for patient history maintenance. There has been a significant increase in the prevalence of rheumatoid arthritis, joint pain, cardiovascular diseases, neurological disorders, urology, and other conditions that necessitate improved image visualization with c-arms for obtaining real-time images of a condition. Technological advances improve the quality of data obtained, such as images, and make it easier for surgeons to visualize the area of operation, which is expected to contribute to the industry's growth over the forecast period.
Based on application, the fragments include orthopedic, cardiovascular, pain management & trauma, neurology, gastrointestinal, urology, general surgery, and others.
The cardiovascular segment is anticipated to hold the largest market share during the forecast period growing at a CAGR of 5.84%. Cardiovascular diseases (CVDs) are conditions affecting the heart and blood vessels. CVDs include, among others, coronary artery disease, cerebrovascular disease, peripheral arterial disease, deep vein thrombosis, and pulmonary embolism. Fluoroscopy equipment is primarily utilized for diagnostic and monitoring procedures, like cardiac catheterization and electrophysiology. Fluoroscopy is used in cardiac catheterization to aid healthcare providers in visualizing blood flow through coronary arteries to detect arterial blockages. In 2017, the Centers for Disease Control and Prevention reported that approximately 18.2 million adults aged 20 and older had CAD, which is approximately 6.7%. This increase in cardiovascular disease incidence will drive market growth throughout the forecast period.
The orthopedic segment will hold the second-largest share growing at the highest CAGR. The orthopedic division specializes in disorders affecting the musculoskeletal system. Musculoskeletal trauma, sports injuries, degenerative diseases, spine diseases, infections, tumors, and congenital disorders affect the musculoskeletal system. A sharp increase in sports injuries is anticipated to increase the demand for fluoroscopy equipment in surgical procedures. Per the National Safety Council (NSC), workouts with or without equipment accounted for approximately 468 thousand injuries in 2019, more than any other sports and recreation category worldwide. Such an increase in sports injuries necessitating fluoroscopy equipment to visualize the condition drives market expansion.
The global fluoroscopy market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America And Europe Will Dominate The Regional Market
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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, like Adani Systems Inc. and Koninklijke Philips N.V., is a significant factor contributing to the expansion of the fluoroscopy equipment market. In addition, an increase in demand for fluoroscopy equipment, a spike 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 by trained medical professionals all contribute significantly to the expansion 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%. The market for fluoroscopy equipment in European nations is anticipated to expand steadily over the forecast period because of the rising demand for advanced fluoroscopy equipment and the dominance of leading companies such as GE Healthcare and Siemens Healthineers AG. 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 fluoroscopy equipment market growth.
In addition, the increase in the prevalence of neurological disorders and the introduction of new products in the pharma-medical device industry are significant growth drivers in Europe. In addition, developed healthcare infrastructure and the availability of trained professionals are significant growth factors in Europe's fluoroscopy equipment market.
Asia-Pacific will be the fastest-growing region with the highest CAGR. This region's market expansion is attributable to the aging populations of Japan and China. In addition, an increase in cardiovascular diseases in China would fuel market expansion. The Organization for Economic Cooperation and Development (OECD) reports that cardiovascular disease (CVD) is the leading cause of death in the Asia-Pacific region. 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 anticipated to exhibit the fastest market growth during the forecast period.
Healthcare professionals' awareness of the use and advantages of fluoroscopy equipment is also a factor in the market's rapid expansion. In addition, the increased emphasis of industry leaders on expanding their geographic presence in emerging Asia-Pacific nations to capitalize on high growth opportunities contributes to expanding the market.