Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Fluoroscopy Equipment Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
LOS ANGELES, Jan. 27, 2021 (GLOBE NEWSWIRE) -- Global fluoroscopy equipment market is expected to grow at a CAGR of around 4.7% from 2020 to 2027 and reach the market value of over US$ 8,326 Mn by 2027
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North America is dominating global fluoroscopy equipment regional market from the past and will continue its trend in the forecast period. This is due to high prevalence of sports injuries and rising orthopedics surgeries will enhance the regional growth market. On the other hand, Asia Pacific will become fastest growing region for the fluoroscopy equipment market. This is attributed to high government involvement, rising policies for improvement in healthcare infrastructure, and emerging economies contribute fullest for growth of APAC market.
Market Driver: Advantage of fluoroscopy equipments over image intensifiers
The evolution of fluoroscopy equipment and C-arms from traditional x-ray image intensifiers technology has introduced significant advancements in fluoroscopic imaging. Although resolution varies from model to model fluoroscopic systems has potential to produce more consistent and high quality digital image. In addition, the field of vision reduces higher magnification in case of image intensifiers that does not happen with image intensifiers systems.
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Market Challenges
Major hospitals in developing regions are unable to invest in fluoroscopy equipment owing to high associated cost, poor reimbursement rates, and budget constraint hence prefer refurbished systems. This system is less expensive comparable to new systems that is approx. 40% to 60% of the original price. Therefore, many market players produce refurbished devices. Among the players, Siemens’ Medical Proven Excellence Program, GE Healthcare’s GoldSeal Program, and Philips’ Diamond Select Program are some notable players in developing refurbished systems. Rising demand for refurbished systems acts challenging for the growth of market players and small manufacturers for the fluoroscopic equipments market.
Market Opportunity: Rising demand for data-integrated imaging system
Data integrated systems enable the processing and reconstruction of images, computer-assisted recognition in medical conditions, and appropriate quality control system. The system is introduced with a software package that helps to store patient information. Such factors offer immense opportunities for the market players to expand the product portfolio in fluoroscopy equipment market. Additionally, convenience, increasing demand from clinicians, and surge in adoption of data integrated system offers huge market opportunity for the market growth of fluoroscopy equipment market.
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Segmental Outlook
Fluoroscopy equipment market is segmented based on product, application, and end-user.
Fluoroscopy equipment market is segmented based on product, application, and end-user. Based on product, the market is bifurcated into fluoroscopy devices and C-arms. C-arms are further divided into mini C-arms and full size C-arms. By application, market is segmented as orthopedic, cardiovascular, pain management & trauma. By end-user, the market is segmented as hospitals, diagnostic centers, and specialty clinics.
Competitive Landscape
The global fluoroscopy equipment market is highly competitive in nature. 'the competition is marked by implementation of sustainability strategies by prominent players such as Siemens Healthineers, GE Healthcare, Philips, Shimadzu Corporation, Ziehm Imaging GmbH, Toshiba Medical Systems Corporation, Hitachi Ltd., Carestream Health, Inc., Hologic, Inc., Lepu Medical Technology Co., Ltd., Agfa-Gevaert Group, ADANI Systems Inc., and among others.
Some of the key observations regarding fluoroscopy equipment industry include:
- In October 2020, Siemens Healthineers, announced launching of new fluoroscopy system. The new product namely remote-controlled “LUMINOS Lotus Max” provides tremendous versatility in clinical examinations. The product is a mix of radiographic and fluoroscopic imaging specialized for orthopedics and long leg or spinal examinations and basic interventions.
- In February 2017, Koninklijke Philips N.V announced new product lauching namely, Azurion interventional platform. The product is also specialized in radiation dose reduction and has taken as a major priority in its design by developing technology enabling Azurion's C-arm to pan and rotate without the need to use fluoroscopy.
- In December 2019, Toshiba Medical Systems Corporation announced acquisition of Canon Inc. As a result, Canon Medical Systems USA, Inc. will now add digital radiographic and mobile offering to its existing x-ray product portfolio for multidisciplinary and fluoroscopic system resulting in product expansion aiming to become one of the broadest industry.
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