The global Fluoroscopy Devices Market is estimated to be valued at US$ 4720.31 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Fluoroscopy devices are imaging diagnostic devices that help physicians to carry out procedures involving continuous X-ray scanning. Fluoroscopy devices produce real-time moving images of internal organs, blood vessels and bones on a monitor. They help doctors perform minimally invasive procedures with image guidance instead of traditional surgery. Fluoroscopy devices are commonly used in hospitals, clinics and ambulatory surgical centers for angiography, surgeries, cardiac catheterization and biopsies. Key advantages of fluoroscopy devices include their ability to display internal body structures in real-time, minimize radiation exposure compared to X-rays and enable minimally-invasive approaches. Growing geriatric population, rising prevalence of chronic diseases, and increasing preference for minimally invasive surgeries are major factors stimulating demand for fluoroscopy devices globally.
Market Key Trends:
Technological advancements are expected to be a major trend shaping the fluoroscopy devices market over the forecast period. Manufacturers are increasingly focusing on developing more advanced fluoroscopy devices with improved imaging quality, automated features and dose reduction capabilities. For instance, new devices offer high resolution flat panel detectors, advanced digital imaging processors, retractable anti-scatter grids and advanced dose monitoring systems to provide high quality images with low radiation exposure. Also, many new devices feature integrated technologies like subtraction imaging, pulsed fluoroscopy, automated collimation and automated brightness control to facilitate easy operation. Wireless capabilities and touch screen monitors are adding convenience for healthcare professionals. Further, advanced C-arms are being integrated with robotic systems and 3D imaging technologies like Cone Beam Computed Tomography (CBCT) to enable complex surgeries with real-time guidance. The availability of such technologically advanced products is expected to significantly drive the demand for fluoroscopy devices.
Porter's Analysis
Threat of new entrants: Low capital requirements and stable demand create low barriers for new companies to enter the market. However, well-established suppliers have significant brand recognition and economies of scale that make competing difficult.
Bargaining power of buyers: The buyers have moderate bargaining power due to the availability of substitutes and differentiated products from different suppliers in the market.
Bargaining power of suppliers: A few large multinational corporations dominate the supply of core components and technologies, giving them strong bargaining power over buyers.
Threat of new substitutes: Technological advancements have introduced new substitutes like MRI to traditional fluoroscopy. However, fluoroscopy still offers benefits like portability, real-time imaging and lower costs.
Competitive rivalry: The market has the presence of many large players and suppliers. Intense competition exists based on product quality, pricing, brand image and customer service.
Key Takeaways
Global Fluoroscopy Devices Market Size is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period 2023 to 2030, due to increasing demand for minimally invasive surgeries.
Regional analysis: North America dominates the market currently due to advanced healthcare infrastructure and increasing obesity rate resulting in chronic diseases. Asia Pacific is expected to witness fastest growth during the forecast period with growing medical tourism and healthcare spending in China and India.
Key players: Key players operating in the Fluoroscopy Devices are Hologic Inc., Siemens Healthcare GmbH, Shimadzu Medical, Koninklijke Philips NV, FUJIFILM Holdings Corporation, Carestream Health, Canon Medical Systems Corporation, General Electric Company (GE Healthcare), and ATON GmbH (Ziehm Imaging Inc. and OrthoScan, Inc.).
Read More- https://www.ukwebwire.com/fluoroscopy-devices-market-value-insights-and-forecast/
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