Market Trends of Fluoroscopy Devices Industry
This section covers the major market trends shaping the Fluoroscopy Market according to our research experts:
Cardiovascular Segment is Anticipated to Witness Growth over the Forecast Period
The cardiovascular segment is expected to witness growth over the forecast period due to the rising prevalence of cardiovascular diseases worldwide. For instance, per the BHF 2022 report, vascular dementia is likely to affect at least 150,000 people in the United Kingdom in 2022, and the number is predicted to rise to 350,000 by 2030. Hence, the high prevalence of cardiac diseases is anticipated to be the driving factor for the cardiology fluoroscopy device market.
Furthermore, cardiovascular procedures require extensive fluoroscopic guidance to navigate endovascular catheters. The fluoroscopy provides excellent spatial and temporal resolution, limiting exposure to ionizing radiation to the patients and staff, along with poor soft tissue characterization. In cardiac catheterization, fluoroscopy is used to help the healthcare provider see blood flow through the coronary arteries to check for arterial blockages. For instance, as per the article published in September 2022 by NLM, fluoroscopic guided percutaneous coronary intervention is a standard treatment for coronary artery disease. The study discussed the significance of fluoroscopically guided percutaneous coronary intervention and the role of the interprofessional team in performing this treatment.
Furthermore, the presence of competitors, mergers, acquisitions, and collaboration in the field of cardiology fluoroscopy is anticipated to boost the market growth. For instance, in August 2022, Royal Philips, a health technology company, showcased its latest integrated cardiology solutions at the ESC Congress (Barcelona, Spain). The company's newest innovations in cardiology help provide enhanced clinical insights, strengthen clinical confidence, drive efficiency in critical care and improve cardiac care experiences from diagnosis and treatment to home care. Philips showed its cutting-edge EchoNavigator software that allows users of its EPIQ CVxi interventional cardiology ultrasound system to automatically fuse real-time 3D TEE (transesophageal echocardiography) with cardiac fluoroscopy X-ray imaging to monitor and assist catheter-based cardiac operations.
Hence, considering the above facts, the cardiology segment is expected to grow over the forecast period.
North America is Expected to Witness Growth over the Forecast Period
The North American fluoroscopy market is projected to grow significantly due to the well-established healthcare infrastructure, the growing burden of chronic diseases, and critical market players actively participating in new product developments and launches.
The United States is anticipated to contribute a significant share in the diagnostic imaging market, which can be attributed to the increasing technological advances, higher affordability rates from the population, and the number of diagnostic procedures increasing every year. In September 2021, Siemens Healthineers launched Luminos Impulse, a fluoroscopy system with a new design and features shared by high-end fluoroscopy systems, including a seamless imaging chain, comprehensive dose optimization, cybersecurity features, and detector-sharing capabilities for radiography. Moreover, the growing number of neurological disorders, such as brain tumors, is also expected to propel market growth. According to the NBTS, an estimated 700,000 people in the United States live with a primary brain tumor, and approximately 88,970 more are likely to be diagnosed in 2022. Furthermore, the increasing incidence of chronic diseases like cancer requiring fluoroscopy will likely boost the market growth over the forecast period. For instance, as per the American Cancer Society 2022 report, about 287,850 new cases of invasive breast cancer is likely to be diagnosed in women in 2022 in the United States.
Thus, considering the factors above, the market is expected to propel in this region during the forecast period.
