by Digital fluoroscopy systems are medical devices that use x-rays to obtain real-time moving images of internal organs, such as the digestive tract, urinary tract, joints or blood vessels. These systems are used to guide and monitor minimally invasive procedures across various therapeutic areas including cardiology, orthopedics, urology and gastroenterology. Digital fluoroscopy systems offer advantages over conventional fluoroscopy systems such as high image quality, digital imaging, connectivity to archiving and retrieving systems and dose reduction in continuous fluoroscopy applications.
The global digital fluoroscopy system market is estimated to be valued at US$ 2.01 Bn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growing adoption of minimally invasive procedures is expected to drive the growth of digital fluoroscopy system market over the forecast period. Minimally invasive procedures offer advantages such as less pain, faster recovery times and lower risk of surgical site infections. The minimally invasive procedures require the use of imaging systems such as digital fluoroscopy systems to guide and monitor instruments inserted inside the body. According to Society of Interventional Radiology, about 30 million minimally invasive medical procedures worldwide are guided by fluoroscopy. The increasing patient preference for minimally invasive procedures is consequently boosting the demand for digital fluoroscopy systems. In addition, digital fluoroscopy systems introduce radiation dose optimization features that further drives their adoption in minimally invasive procedures.
Segment Analysis
The digital fluoroscopy system market is dominated by the hospitals segment which accounts for over 60% share. Hospitals have invested significantly in advanced imaging equipment to improve diagnosis and patient care. Digital fluoroscopy systems provide real-time imaging and movements of internal organs, bones or implants without the need for invasive procedures. This has benefited hospitals in reducing procedure time and improving workflow efficacy. The ambulatory surgical centers segment is expected to grow at the fastest pace during the forecast period due to increasing preference for outpatient surgical procedures.
PEST Analysis
Political: Government initiatives aimed at modernizing healthcare infrastructure and offering universal health coverage in several countries will boost public healthcare spending on medical equipment such as digital fluoroscopy systems.
Economic: Growth in disposable incomes is enabling more people to opt for medical insurance. This is increasing demand for quality healthcare services and facilities equipped with state-of-the-art medical imaging systems.
Social: Rising incidence of chronic diseases, trauma injuries and age-related illnesses is propelling the need for advanced diagnostic procedures. Digital fluoroscopy provides real-time visualization and assists surgeons, thereby benefiting patients.
Technological: Continuous innovation is improving hardware and software capabilities of digital fluoroscopy systems. Features such as high-resolution imaging, upgraded image processing and the ability to integrate with other medical devices are enhancing their clinical values.
Key Takeaways
Global Digital Fluoroscopy System Market Size is expected to witness high growth over the forecast period, driven by increasing geriatric population suffering from orthopedic disorders. Additionally, rising prevalence of chronic diseases is propelling demand for minimally invasive surgical procedures backed by real-time imaging guidance.
The North American market holds the largest share currently due to technological advancements and increasing healthcare expenditure in the region. Growing medical tourism in emerging countries of Asia Pacific is providing a boost to regional hospitals.
Key players operating in the digital fluoroscopy system market are Philips Healthcare, GE Healthcare, Siemens Health, Toshiba Medical Systems, Shimadzu Medical, Ziehm Imaging, Hitachi Medical Systems, Orthoscan Inc. Key players are focusing on product launches and strategic collaborations to strengthen their market position. For instance, Shimadzu launched the dual-fluoroscopy guided system in 2021 for supporting interventional procedures.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
