The fluoroscopy devices market involves imaging diagnostic equipment that uses fluoroscopy or real-time X-ray technology to obtain continuous or videos of internal structures or anatomical details of the body, where device allows clinicians to view anatomy and medical interventions on a monitor for extensive periods of time. Fluoroscopy devices help physicians in examining organs such as heart, blood vessels, and joints through continuous x-ray imaging which helps in guiding placement of devices such as stents or diagnosis of conditions. The growing prevalence of cardiovascular disease and rising number of minimally invasive procedures provides an advantage for the medical imaging fluoroscopy devices.
The Global fluoroscopy devices market is estimated to be valued at US$ 5437.8 Mn in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the fluoroscopy devices are Kemira Oyj, ION EXCHANGE (I) Ltd, Thermax Ltd, BASF-SE, GE Water & Process Technologies, Dorf Ketal, Chembond India Ltd, SNF Group, Vasu Chemicals, E. I. du Pont de Nemours and Company, Shandong Taihe Water Treatment Technologies Co., Ltd., and Shandong XinTai Water Treatment Technology Co., Ltd. The key opportunities for Fluoroscopy Devices Market Growth players are growing product innovations for disease diagnosis and rising strategic alliances to increase market presence. With rising geriatric population and growing chronic disease prevalence, there lies immense growth potential for fluoroscopy devices market players in emerging economies of Asia Pacific and Latin America through regional expansion.
Market Drivers
One of the major market drivers for fluoroscopy devices is the growing number of cardiovascular procedures worldwide. As per statistics, cardiovascular diseases are the leading cause of death globally, with over 17.9 million lives lost each year due to cardiovascular disease alone. Along with this, rising prevalence of orthopedic diseases such as osteoarthritis has increased the demand for orthopedic procedures requiring imaging devices like fluoroscopy. Moreover, increasing awareness regarding early disease diagnosis and technological advancements in fluoroscopy devices are contributing to the high growth of this market during the forecast period.
PEST Analysis
Political: Regulatory bodies like the FDA ensure the safety and efficacy of fluoroscopy devices through a stringent approval process.
Economic: Growth in healthcare spending and demand for minimally invasive procedures is expected to drive higher investments in advanced medical imaging systems.
Social: The increasing prevalence of chronic diseases and the rising geriatric population who are more prone to orthopedic disorders will augment the number of fluoroscopy-guided procedures.
Technological: Manufacturers are developing newer fluoroscopy devices with enhanced imaging capabilities through technological advancements like flat panel detectors and higher frequency generators for better resolution and visibility of soft tissues. Multi-axis robotic systems are also enabling procedure automation and precision.
In terms of value, the largest share of the fluoroscopy devices market is concentrated in North America and Europe due to advanced healthcare infrastructure, rising healthcare expenditures, and new product launches. Asia Pacific is projected to be the fastest growing regional market owing to growing medical tourism, improving accessibility and affordability of healthcare along with rising lifestyle diseases. India and China in particular are witnessing increased adoption of superior imaging modalities to meet the demand of their large patient populations.
Another geographical area experiencing above average growth is Latin America where governments are undertaking initiatives to modernize hospitals and invest in state-of-the-art medical technologies. Countries like Brazil and Mexico are emerging healthcare hubs in the region offering openings for international players in the fluoroscopy devices domain to tap new markets. Affordability issues still persist but with strategic partnerships and equipment financing schemes, demand is steadily increasing.
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