Fluoroscopy equipment market will be influenced by the proliferation of technologies such as 3D printing, wearable, artificial intelligence, and the Internet of Things. Influence of such technologies on development of several medical devices and equipment has been significant, and fluoroscopy equipment is no exception. The trend of integration of latest innovations in the medical devices continues to indirectly influence the Fluoroscopy Equipment Market Growth. Recently conducted research reveals that manufacturers are integrating innovative tools including Microsoft’s HoloLens and Google Glass in the wearable visual-overlay devices, which enables the end user to retrieve information for an image-guided intervention. Integrating innovative technologies in the medical devices is likely to foster collaborations among the radiologists, and physicians.
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According to a recently published report, the global fluoroscopy equipment market is expected to represent a value of over US$ 2,000 Mn by the end of 2022.
Significant Demand in the Aviation Industry
Application and adoption of fluoroscopy equipment extends beyond the healthcare industry. Fluoroscopy equipment also witness considerable demand in the airports to scan for hidden bombs and weapons. Relatively lower doses of radiation as compared to the medical devices, which have relatively low impact on the food products, and gadgets scanned, continue to drive fluoroscopy equipment sales, thereby impacting expansion of the fluoroscopy equipment market.
There has been a strong emphasis on quality in terms of manufacturing, design, and distribution among players in the fluoroscopy equipment market. While fluoroscopy equipment market players are striving to pace with the level of quality, one marker of this gap is also due to the inspections conducted by the Food and Drugs Administration (FDA). The steady pace of non-compliance suggests that the fluoroscopy equipment market players continue to struggle in order to match with the regulatory standards.
Cardiology to Represent a Leading Segment
With growing need for radiation therapy for cancer, demand for fluoroscopy equipment will continue to rev up in the healthcare industry. The conventional segment is expected to witness the highest revenue growth, accounting for over US$ 400 Mn by the end of 2022. However, the remote-controlled and C-arms segment is expected to register the highest CAGR in the fluoroscopy equipment market throughout 2022.
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As healthcare industry continues to witness significant adoption of fluoroscopy devices, the hospitals will continue to remain the major end users in fluoroscopy equipment market. The hospital segment is expected to represent a value of over US$ 400 Mn by the end of 2017. However, the other end users and diagnostic centers are expected to register the highest CAGR in the global fluoroscopy equipment market during the forecast period.
Demand for fluoroscopy devices is mainly concentrated towards cardiology related treatment. The cardiology segment is expected to represent a value of over US$ 300 Mn by the end of 2022. Adoption of fluoroscopy equipment for treatment of gastroenterology is also expected to generate significant revenues. The gastroenterology segment is expected to witness the second highest growth in the fluoroscopy equipment market by the end of 2022. This segment is expected to register the highest CAGR in the fluoroscopy equipment market throughout the forecast period.
Leading market players operating in the fluoroscopy equipment market include Agfa-Gevaert Group, Ziehm Imaging GmbH, Carestream Health, Inc., Hitachi, Ltd., GE Healthcare Inc., Hologic, Inc., Siemens Healthineers, Philips Group, Lepu Medical Tech Co. Ltd, Shimadzu Corporation, Toshiba Medical Systems Corporation, and Ziehm Imaging GmbH.
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