Global Fluoroscopy Devices Market Drivers:
Rise in burden of heart diseases to underpin market growth
One of the key factors expected to augment the growth of the global fluoroscopy devices market during the forecast period is the rise in prevalence of cardiovascular diseases across the world. For instance, according to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause of death around the world, taking an estimated 17.9 million lives each year. In cardiac catheterization, fluoroscopy is used as an adjunct to enable the doctor to check the flow of blood through the coronary arteries to evaluate the presence of arterial blockages. This in turn has increased the use of fluoroscopy devices worldwide.
Growing geriatric population to augment market growth
Another factor which is driving the growth of the global fluoroscopy devices market is the increase in geriatric (aging) population across the globe. For instance, the percentage of the global elderly population is expected to more than double to 1.5 billion for those older than 65 by 2050, according to the United Nations. People aged 60 and older make up 12.3% of the global population, and by 2050, that number will rise to almost 22%. The growing population of the world is stimulating the demand for increased access and advances in healthcare treatments. Fluoroscopy devices play key role in the development of better diagnosis and treatment methods.
Global Fluoroscopy Devices Market Opportunities:
Increase in demand for fluoroscopy devices across the world is expected to offer significant growth opportunities for players in the global fluoroscopy devices market. For instance, with the increase in prevalence of chronic diseases, the demand for effective fluoroscopy devices is also increasing rapidly. In July 2022, FUJIFILM Healthcare Americas Corp. launched the FDR Cross, a hybrid c-arm and portable x-ray solution built for hospitals and ambulatory surgery centers (ASC). A dual-function c-arm is a portable fluoroscopic and radiographic imaging platform, reducing the need to bring in additional imaging equipment for essential image guided procedures.
Rise in number of minimal invasive surgeries is expected to offer significant growth opportunities for players in the global fluoroscopy devices market. For instance, fluoroscopy and other imaging tests are non-invasive procedures that provide visual guidance for certain medical procedures. In July 2020, Fujifilm Medical Systems USA announced the launch of its ELUXEO surgical system, which contains both the endoscopy and minimally invasive surgery portfolios of the company and helps surgeons in performing flexible and rigid endoscopy from a single tower by providing better visualization. This in turn is driving the growth of the market.
Global Fluoroscopy Devices Market Restraints:
Side effects and radiation exposure to hamper market growth
One of the key factors expected to hamper the growth of the global fluoroscopy devices market is the side effects and risk of radiation exposure. Fluoroscopy can result in relatively high radiation doses, especially for complex interventional procedures. Radiation-induced injuries and radiation-induced cancer are common side effects caused by the radiation exposure while using fluoroscopy devices. Radiation-induced injuries occur shortly after the exposure and radiation-induced cancer occur later in life, restraining the market growth. However, new devices help improve the patient satisfaction as they have low risk of side-effects due to low radiation levels.
Rising adoption of refurbished devices to hinder market growth
Another factor which is hampering the growth of the global fluoroscopy devices market is the rise in adoption of refurbished fluoroscopy devices. For instance, not only local players but key players in the market, such as Philips Healthcare and Siemens Healthcare, have also launched refurbished diagnostic devices in the market, matching the quality of the original product and for an affordable price. Refurbished devices are also providing equally well with the originally manufactured ones. This in turn is expected to hamper growth of the market.
Fluoroscopy Devices Market Report Snapshots
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