The Growth of Digital Fluoroscopy System Market is driven by rising prevalence of chronic diseases
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Digital Fluoroscopy System Market |
Digital
fluoroscopy systems are medical imaging devices which utilizes low dose x-ray
radiation to produce real-time moving images of internal body structures to aid
in medical procedures. These systems are widely used in surgeries, cardiac
catheterization, gastroenterology and urology applications. Digital fluoroscopy
systems offers numerous advantages over the conventional analog fluoroscopy
systems such as improved image quality with less radiation exposure, easy image
storage and sharing, versatile imaging functionality and remote viewing
capabilities. With rising burden of chronic diseases worldwide, the demand for
minimally invasive surgeries and diagnostic procedures has increased
significantly. According to a report by World Health Organization, cardiovascular
diseases are the leading cause of mortality globally, taking an estimate of
over 17 million lives each year.
The
global Digital Fluoroscopy System Market is estimated to be valued at US$ 2.01
billion in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast
period 2023 to 2030, as highlighted in a new report published by Coherent
Market Insights.
Market key trends:
One of the major trends witnessed in the global digital fluoroscopy system
market has been increasing adoption of flat panel detectors. Flat panel
detectors are lightweight, compact and offers better image quality as compare
to image intensifiers used in conventional analog systems. Due to flat panel
detectors capabilities of acquiring fast framing images at high resolution and
with less radiation, they have become standard of care in modern fluoroscopy
systems. Manufacturers are innovating novel flat panel detector designs with
improved features like direct conversation of x-rays into electrical signals
for better contrast and more penetration by x-rays through dense body parts.
This increasing technological advancement in flat panel detectors will propel
the demand for digital fluoroscopy systems over the forecast period.
Porter's Analysis
Threat of new entrants: New entrants face high capital investment costs as
digital fluoroscopy systems are expensive medical devices. Strict regulations
by medical agencies also create barriers.
Bargaining power of buyers: Physicians buying fluoroscopy systems have moderate
bargaining power as there are multiple vendors however systems come with high
costs.
Bargaining power of suppliers: Major system component manufacturers like GE,
Philips, and Siemens have significant bargaining power over OEMs as they
provide key technologies and parts.
Threat of new substitutes: CT and MRI provide alternative imaging solutions but
have limitations compared to live fluoroscopy. They also have higher costs.
Competitive rivalry: The market is dominated by GE Healthcare, Philips, and
Siemens Medical Solutions. Competition is based on technological advancements,
product pricing and performance.
Key Takeaways
The Global
Digital Fluoroscopy System Market Demand is expected to witness high
growth. The global Digital Fluoroscopy System Market is estimated to be valued
at US$ 2.01 billion in 2023 and is expected to exhibit a CAGR of 5.7% over the
forecast period 2023 to 2030.
Regional
analysis related content comprises Regional analysis related content The North
America region currently dominates the market owing to growing geriatric
population, higher healthcare expenditure and technological advancements. Asia
Pacific is expected to witness fastest growth due to expanding medical
infrastructure and increasing investments by key players in developing
countries.
Key players related content comprises Key players related content
Key players operating in the Digital Fluoroscopy System Market are GE
Healthcare, Philips, Siemens Healthineers, Shimadzu, Ziehm Imaging GmbH. GE
Healthcare holds the largest share in the global market due to its diversified
product portfolio and widespread geographical presence across major markets.
Philips focuses on advancing its mobile C-arms and full-sized systems.
For
more insights, Read- https://www.ukwebwire.com/digital-fluoroscopy-system-market-size-and-share/
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