According to market research industry, "Fluoroscopy Equipment Market by Product (Fixed C-Arms, Fluoroscopy Systems (Remote Controlled, Patient Side), Mobile C-arms), and Application (Diagnostic (Cardio, Gastroenterology, Nephrology), Surgical (Ortho, Neuro, Cardio) - Global Forecast to 2025", is projected to reach USD 7.5 billion by 2025 from USD 5.9 billion in 2020, at a CAGR of 4.8%. The major factors driving the growth of the fluoroscopy equipment are the advantages of FPDs over image intensifiers, the use of fluoroscopy in pain management, reimbursement cuts for analog radiography systems, rising geriatric population, growing prevalence of chronic diseases, and awareness programs, conferences, and funding activities.
The fixed C-arms segment accounted for the largest share of the fluoroscopy equipment market in 2019. The large share of this segment can be attributed to the increasing use of fluoroscopic imaging for diagnosis and interventional procedures and technological advancements in fixed C-arms.
The diagnostic applications market is further segmented into cardiology, gastroenterology, urology & nephrology, and other diagnostic applications (orthopedics, neurology, and gynecology), while the surgical applications market covers the market for C-arms in orthopedic and trauma surgeries, neurosurgeries, cardiovascular surgeries, gastrointestinal surgeries, and other surgical applications.
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Growth in the fluoroscopy equipment market is attributed to factors such as advantages of FPDs over image intensifiers, the use of fluoroscopy in pain management, reimbursement cuts for analog radiography systems, rising geriatric population, and the growing prevalence of chronic diseases.
The COVID-19 pandemic has significantly impacted the buying capacity of hospitals, especially small-scale hospitals and scanning centers. According to an article in the Livemint, private hospitals in India have faced revenue losses of up to 90% due to the COVID-19 pandemic.
FPDs offer no image distortion, greater sensitivity, and better patient coverage. Due to their advantages, many hospitals are now opting for FPD fluoroscopes. The growing preference for advanced technologies, and the need to shift to new, more efficient products, will be a key factor driving the growth of this market segment.
Additionally, CT examinations can completely eliminate the need for a fluoroscopic examination, as a CT scan is noninvasive as opposed to the minimally invasive fluoroscopic imaging.
The growing prominence of other non-radiation imaging modalities, like ultrasound, is likely to restrain market growth.
The major players in the fluoroscopy equipment market are Siemens Healthineers (Germany), GE Healthcare (US), and Philips (Netherlands). These companies together accounted for a share of ~80% of the fluoroscopy equipment market in 2018. Other players in the market include Shimadzu Corporation (Japan), Ziehm Imaging GmbH (Germany), Toshiba Medical Systems Corporation (Japan)