According to the new market research report "Fluoroscopy Equipment Market by Product," published by MarketsandMarkets, the global Fluoroscopy Equipment market is projected to reach USD 7.1 billion by 2024 from USD 5.7 billion in 2019, at a CAGR of 4.4%.
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, by product, in 2018.
On the basis of product, the Fluoroscopy Equipment market is segmented into fixed C-arms, fluoroscopy systems, and mobile C-arms. The fixed C-arms segment accounted for the largest share of the Fluoroscopy Equipment market in 2018. 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.
Surgical applications segment to grow at the highest CAGR in the Fluoroscopy Equipment market during the forecast period
On the basis of application, the Fluoroscopy Equipment market is segmented into diagnostic applications and surgical applications. 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. The surgical applications segment is expected to register the highest CAGR of 5.7% during the forecast period, owing to the increasing popularity of C-arms in surgical imaging applications.
North America will continue to dominate the Fluoroscopy Equipment market during the forecast period
On the basis of region, the Fluoroscopy Equipment market has been segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World. In 2018, North America accounted for the largest share of the Fluoroscopy Equipment market. The large share of North America can be attributed to the increasing incidence of overuse sports injuries, rising prevalence of CVD, and the increasing number of hip and knee replacement surgeries in the region.
Major players operating in the Fluoroscopy Equipment market include Siemens Healthineers (Germany), GE Healthcare (US), Philips (Netherlands), Shimadzu Corporation (Japan), Ziehm Imaging (Germany), Canon Medical Systems (Japan), Hitachi (Japan), Carestream Health (US), Hologic (US), Lepu Medical Technology (China), Agfa-Gevaert Group (Belgium), and ADANI Systems (Belarus).