The global Fluoroscopy Devices Market is commonly used during minimally invasive surgeries such as angiograms, biopsies, and cardiac ablation. Benefits of using fluoroscopy devices include real-time visualization of internal tissues and structures without making large incisions. They are widely used for imaging soft tissues, bones, and blood vessels of patients in hospitals and clinics.
The global Fluoroscopy Devices Market is estimated to be valued at US$ 4,720.31 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising demand for minimally invasive surgeries is one of the major drivers of the fluoroscopy devices market. Minimally invasive surgeries are increasingly being preferred over traditional open surgeries as they offer benefits such as less pain, shorter hospital stays, smaller incisions, and lower risk of complications. Fluoroscopy devices are extensively used during minimally invasive surgeries such as endoscopy and cardiac ablation to provide real-time visualization to surgeons. According to the Society of American Gastrointestinal and Endoscopic Surgeons, about 7.2 million endoscopic procedures were performed in 2017 in the U.S. alone. Growing rate of gastrointestinal disorders and cardiac diseases is leading to higher number of minimally invasive diagnostic and treatment procedures conducted annually, driving the need for fluoroscopy devices among healthcare providers.
SWOT Analysis
Strength: Fluoroscopy devices provide real-time imaging and visualization which helps doctors diagnose and treat medical conditions accurately. It allows interventional procedures to be done with minimal invasion.
Weakness: Extended exposure to radiation from fluoroscopy can increase the risk of cancer for both patients and medical professionals. Image quality can be degraded based on patient size and positioning.
Opportunity: Growing geriatric population and rising incidence of chronic diseases drives the demand for minimally invasive surgeries aided by fluoroscopy. Expanding applications in cardiovascular, gastrointestinal, urology and orthopedic procedures present opportunities.
Threats: Stringent regulations regarding radiation safety pose challenges. Alternative imaging modalities like CT scans have fewer radiation risks which can hamper growth. Rise in reimbursement issues and healthcare costs also threaten the market.
Key Takeaways
The global fluoroscopy devices market size is expected to witness high growth in the forecast period from 2023 to 2030. The global Fluoroscopy Devices Market is estimated to be valued at US$ 4,720.31 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030.
The North American region currently dominates the market attributed to rising prevalence of chronic diseases and geriatric population. North America accounts for the largest share of the fluoroscopy devices market majorly driven by growing elderly population, rising chronic disease burden and greater access to advanced healthcare facilities compared to other regions. Asia Pacific is poised to witness the fastest growth rate owing to improving healthcare infrastructure, increasing medical tourism and rising spending on healthcare.
Key players operating in the fluoroscopy devices market are Bayer AG, Henkel AG & Co. KgaA, Avon Products Inc., Johnson & Johnson Inc., Kao Corporation, Beiersdorf AG, Groupe Clarins SA, Revlon Inc., Shiseido Co. Ltd., Unilever PLC, Procter & Gamble, Lotus Herbals Pvt. Ltd. Players are focusing on new product launches, enhancing technology features to improve image quality and minimization radiation exposure based on regulatory guidelines.
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