SAN FRANCISCO, June 7, 2017 /PRNewswire/ -- The global fluoroscopy systems/equipment market is expected to reach USD 4.74 billion by 2025, according to a new report by Grand View Research, Inc. The unprecedented growth is believed to be a consequence of rising patient preference for minimally invasive surgeries. These devices facilitate early diagnosis and reduce treatment duration in majority of surgical procedures.
The growing demand is also a consequence of improved cost-efficiency, safety, efficacy, rapid recovery, and reduced hospital stay. These factors anticipated to fuel the demand for fluoroscopy equipment over the forecast period. Other advantages include fewer incision wounds and postsurgical complications that lead to higher patient satisfaction.
The market is also driven by technological advancements such as incorporation of radiation dose monitoring tools for optimized radiation in fluoroscopy equipment. Other advancements include robotically controlled C-arms, integrated navigation tools, and image guidance software. These advancements have led to enhanced image guidance during interventional, ablation, and biopsy procedures as well as improved optimization of working procedures.
Further key findings from the report suggest:
- C-arms segment is predicted to witness exponential growth owing to high cost-efficiency and wide applicability in different fields such as traumatology, orthopedics, vascular surgery for intraoperative imaging, and others
- Cardiovascular emerged as the largest application segment in 2016 as a consequence of high prevalence of cardiovascular diseases, raising the clinical urgency for adoption of fluoroscopy equipment
- Hospitals held the largest share in end-use segment due to high patient volume, consistent readmissions, and easy availability of high-end equipment
- North America accounted for the largest share, which can be attributed to the extensive R&D activities that are likely to provide platform for growth through consistent approvals of new product
- The market in Asia Pacific is projected to witness substantial growth over the next decade, due to growing awareness pertaining to availability and benefits of these devices, further triggering significant penetration
- GE Healthcare, Philips Healthcare, and Siemens Healthineers together accounted for a dominant share in the global fluoroscopy equipment market in 2016
- The key companies are aggressively undertaking collaborative strategies, new and advanced product development activities, and mergers & acquisitions leading to significant growth
- In May 2015, Philips Healthcare launched DuoDiagnost, an integrated radiography and fluoroscopy system. This equipment was launched to yield higher price-performance ratio in different applications and achieve a greater return on investment
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Grand View Research has segmented the global fluoroscopy systems market on the basis of product, application, end use, and region:
Product Outlook (Revenue, USD Million, 2014 - 2025)
Fluoroscopy Devices
C-arms
Mini C-arms
Full Size C-arms
Application Outlook (Revenue, USD Million, 2014 - 2025)
Orthopedic
Cardiovascular
Pain Management & Trauma
Neurology
Gastrointestinal
Urology
General Surgery
Others
End-use Outlook (Revenue, USD Million, 2014 - 2025)
Hospitals
Diagnostic Centers
Specialty Clinics
Regional Outlook (Revenue, USD Million, 2014 - 2025)
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
Japan
China
India
Latin America
Mexico
Brazil
Middle East & Africa
South Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.