According to FutureWise analysis the market for Fluoroscopy Equipment in 2023 is US$ 6.83 billion, and is expected to reach US$ 10.11 billion by 2031 at a CAGR of 5.02%.
The main factors driving the growth of the market are the benefits of FPDs over image intensifiers, increasing geriatric population, awareness activities, rising cases of chronic diseases and the use of fluoroscopy in pain management. In addition, the favorable reimbursement policy for analog radiography systems is augmenting the market growth. The rapid adoption of hand-held fluoroscopes due to its efficient facilities is creating a lucrative opportunity for the manufacturers.
The market is classified into product, application, and region. Based on products, fluoroscopy systems are expected to dominate the market. The technological advancements in fixed C-arms and growing use of fluoroscopic imaging for interventional procedures and imaging for diagnosis is spurring the market. Fluoroscope systems offer various benefits such as radiation sensitivity, optical magnification, and high portability. Furthermore, they provide better clarity and stability of images. Other advantages for opting fluoroscope systems are high portability, optical magnification, x-ray recording capability and real-time tracking of images. Such factors have bolstered the market.
Based on application, surgical applications is expected to hold vast shares of the market. Surgical applications consist of orthopaedic and trauma, cardiovascular, neurosurgeries and gastrointestinal surgeries. Growing prevalence of cardiovascular diseases has led to a demand for highly efficient diagnostic imaging tools. Fluoroscopy is most frequently performed with procedures such as coronary angiography, radiographic catheter ablation, and diagnosis electrophysiology studies. The growing number of conferences and exhibitions by prominent players and manufacturers to promote fluoroscopy instruments is stimulating the market. The growing importance of anatomy visualization in emergency medicine is also driving the market. Fluoroscopy facilities can be used during cardiac catheterization since it performs as an adjunct to examine the presence of arterial blockages.
Based on regions, North America dictates the market growth. Government initiatives to promote efficient treatment facilities is boosting the presence of the market in the region. For example, the FDA launched an initiative to reduce the radiation exposure of medical imaging. The initiative has resulted in an enhanced and efficient treatment for multiple surgeries. Growing preference of private and public healthcare organizations to promote advanced imaging instruments is resulting in more adoption of fluoroscopy instruments in the region. The rising number of obese population coupled with growing inclination towards minimally invasive surgeries have stimulated the market in the region. Asia-Pacific region is also expected to show substantial growth owing to the strong economic development of countries like China and India. The growing number of geriatric population in nations like China and Japan is playing an instrumental role in the expansion of the market in the region.