Market Trends of North America Fluoroscopy Industry
The Cardiovascular Segment is Expected to Hold Significant Market Share by Application over the Forecast Period
The rising burden of cardiovascular diseases in North America is a major factor driving the growth of the market. For instance, as per the data from the Centers for Disease Control and Prevention published in October 2022, 805,000 people in the United States had a heart attack annually; 605,000 of these comprised a first-time heart attack, while 200,000 were caused by previous heart attacks. As stated by the American Heart Association 2021 journal, it is estimated that by 2035, more than 130 million adults in the United States will have some type of heart disease.
The statistics provided by the Heart and Stroke Foundation of Canada in February 2022 showed that there were 750,000 people with heart failure, and 100,000 people were diagnosed with this condition annually. As per the data from the American Heart Association 2022, in Mexico, 56.1% of adults had high levels of LDL-C, or bad cholesterol, which is thought to be the primary risk factor for cardiovascular disease. Cardiovascular diseases, such as high blood pressure, arrhythmias, and strokes are increasing the demand for fluoroscopy devices. This, along with the growing demand for minimally invasive surgeries and technological advancements, is expected to drive market growth in the near future.
Initiatives by key market players are expected to increase market growth. For instance, in August 2022, Xoran Technologies received FDA 510(k) clearance for TRON, a mobile, full-body fluoroscopy, computed tomography (CT) X-ray system. Additionally, in July 2022, Fujifilm launched a 2-in-1 fluoroscopy digital radiography system. The platform features an innovative, pivoting tube head and removable detector design to enable greater freedom of imaging and efficiency compared to conventional configurations of a separate c-arm and mobile X-ray machine. Such advanced product launches will facilitate the increasing need for various cardiovascular disease diagnoses, leading to segmental growth over the forecast period.
Thus, the increase in the incidence of cardiovascular diseases and rising initiatives by key market players are expected to boost segmental growth.
The United States is Expected to Hold a Significant Market Share Over the Forecast Period
The United States is expected to hold a significant market share due to increasing incidences of trauma and injuries and rising initiatives by market players. The incidence of sport-related injuries, such as ligament sprains, muscle sprains, supraspinatus tendinitis, and others, is increasing among the population. This is anticipated to fuel the demand for medical imaging, boosting market growth. For instance, the National Safety Council (NSC) reported that in 2022, exercise equipment alone led to an estimated 445,642 injuries, surpassing all other sports and recreation categories.
As per the Sports Accident Statistics report updated by LegalMatch in August 2022, injuries to the anterior cruciate ligament (ACL) occurred roughly 150,000 times in the United States annually. In addition, female basketball and soccer players had an ACL injury 2 to 8 times more frequently than other athletes. This prevalence of a high number of sports-related injuries in the region is expected to boost the demand for medical imaging in the country.
Initiatives by key market players, such as partnership agreements, are another factor driving market growth. For instance, in March 2022, OXOS Medical entered into distribution partnerships with Pacific Medical, Redstone Ortho, and Specialty Medical. These partnerships allow OXOS to bring advanced orthopedic imaging to the entire country. Pacific Medical, Redstone Ortho, and Specialty Medical added unprecedented scale to Micro C's commercialization, giving providers in their geographies an opportunity to see how OXOS can assist in delivering the most efficient, highest-quality orthopedic care in both their surgical and clinical settings. Thus, such agreements are expected to boost market growth in the country over the forecast period.
