The global C-arm & mini C-arm market garnered a revenue of USD 2170.9 Million in the year 2019 and is further expected to reach USD 3050.6 Million by the end of 2028 by growing with a CAGR of 4.9% during the forecast period, i.e., 2020-2028. The growth of the market can be attributed to the rise in adoption of interventional surgeries worldwide, along with the growing prevalence of cardiovascular diseases, which is raising the need for quality imaging facilities in hospitals and other healthcare support providing organizations. Moreover, increasing preference for minimally invasive surgeries globally, along with the increasing advancements in healthcare infrastructure, and the numerous technological innovations witnessed in healthcare equipment are some of the additional factors expected to contribute to the market growth.
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The market is also anticipated to grow on account of the growing geriatric population worldwide. According to the statistics by the World Bank, the share of population aged 65 and above out of the total population around the world increased from 6.874% in 2000 to 9.318% in 2020.
Over the years, the demand for minimally invasive surgeries (MIS) has increased exponentially owing to the numerous benefits associated with the surgery type. Recent innovations in optics & lightings, instrumentation, and others have significantly contributed to the advancements in MIS. The C-arms are currently being used for a wide range of diagnostic imaging and minimally invasive procedures, including aneurysm repaid, cardiac surgery, vascular surgery, gastroenterology, neurostimulation, and others. Moreover, with the increasing complications in surgical procedures, the demand for high-resolution intraoperative imaging is surging at a significant pace. C-arms are widely being integrated with intravascular ultrasound technology that can be highly useful during vascular surgeries.
The global C-arm & mini C-arm market is also expected to grow on account of the rise in healthcare expenditure. In other statistics by the World Bank, the current health expenditure as a share of GDP around the globe increased from 9.417% in 2013 to 9.857% in 2018. The rise in healthcare expenditure can primarily be attributed to the increasing prevalence of chronic diseases, growing geriatric population, and high cost of healthcare services among others. This growth in expenditure is expected to enhance the healthcare system, thereby driving the demand for advanced healthcare equipment, which in turn would drive the growth of the global C-arm & mini C-arm market in the coming years. The market is further expected to garner a revenue of USD 2177.7 Million by the end of 2021.
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The market is also expected to grow on account of the rising prevalence of bone-related disorders worldwide. It has been estimated that every year around 1.5 Million individuals would suffer a fracture due to bone disease. Moreover, in the United States alone, around 4 in 10 women above 50 years of age is expected to experience a fracture in the wrist, spine or hip in the remaining years of their lives. According to the International Osteoporosis Foundation (IOF), more than 8.9 Million fractures are caused annually due to osteoporosis. The statistics further stated that in every 3 seconds, an osteoporosis fracture is being registered. The burden of orthopedic diseases around the globe is growing at a significant pace. In the low and middle-income nations, the burden of such diseases is relatively high. As a result, there is a rise in demand for advanced diagnostic tools and treatment to treat such diseases, which is expected to raise the demand for mini C-arms as well as C-arms, and in turn drive the market growth.
Regionally, the global C-arm & mini C-arm market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is expected to garner the highest share during the forecast period and further attain a revenue of USD 1149.77 Million by the end of 2028, up from USD 835.78 Million in 2019. The growth of the market in the region can primarily be attributed to the presence of a robust healthcare infrastructure, along with the growing demand for advanced medical equipment for use in hospitals, clinics, and other end users. Moreover, increasing concern for the growing burden of various diseases, such as cardiovascular diseases and other communicable and non-communicable diseases, in the region is also expected to drive the market growth. According to the statistics by the U.S. Centers for Disease Control and Prevention (CDC), in every 36 seconds, a person dies from cardiovascular disease in the United States.
The market in the Europe is expected to hold the second leading stance by registering a revenue of USD 934.93 Million by the end of 2028. In the year 2019, the market in the region garnered a value of USD 683.82 Million, and it is further expected to reach USD 685.20 Million by the end of 2021. Amongst the countries in the region, the market in Russia is expected to garner a significant market share of 20.48% by the end of 2028 and further reach USD 191.47 Million in the same year.
The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global C-arm & mini C-arm market is segmented on the basis of C-arm type into fixed, and mobile C-arms. The fixed C-arm type is further divided into floor mounted and ceiling mounted, out of which, the ceiling mounted segment garnered the highest market share in the year 2019. Ceiling mounted C-arms are usually preferred in ORs as they quickly cover the whole body without the need to move the table. It is also widely used in hospitals for by surgeons for cardiovascular surgeries. The mobile C-arms segment, on the other hand, is further divided into mini C-arm and full size C-arm, out of which, the full size C-arm segment held majority of the market share in the year 2019. The mini C-arm segment is further divided into pulse-fluoroscopy and continuous-fluoroscopy, out of which, the continuous-fluoroscopy segment grabbed the largest share in the year 2019. Based on end user, the market is segmented into diagnostic imaging centers, hospitals/surgical centers, ambulatory surgical centers, and others. Out of these, the hospital/surgical centers segment registered the largest share of 30.79% in the year 2019, backed by the increasing utilization of C-arms in hospitals, and for the growing preference for this equipment by surgeons in hospitals. The market is further segmented by detector type into flat-panel and image-intensifier. The image-intensifier technology is an old technology as compared to the latter, and are usually available at a lower cost. The flat-panel technology is a digital technology and can offer up to 50% enhanced field of view. Based on application, the market is segmented into diagnostic and surgical application. The C-arm technology is widely used for various diagnostic procedures, especially in urology & nephrology, gastroenterology, cardiology, and others.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global C-arm & mini C-arm market that are included in our report are Ziehm Imaging GmbH, General Electric Company, Siemens Healthcare GmbH, Koninklijke Philips N.V., Eurocolumbus srl, Trivitron Healthcare, Turner Imaging Systems, Canon Medical Systems Corporation, Allengers, Hologic, Inc., Orthoscan, Inc., and others.
FREQUENTLY ASKED QUESTIONS
Growing preferences for minimally invasive surgeries along with the advancements in healthcare infrastructure are some of the major factors anticipated to drive the market growth.
The market is anticipated to attain a CAGR of 4.9% over the forecast period, i.e., 2020-2028.
The high costs of C-arm is one of the major factors estimated to hamper the market growth.
The market in Europe is expected to grow significantly in the coming years and display more business opportunities.
The major players in the market are Ziehm Imaging GmbH, General Electric Company, Siemens Healthcare GmbH, Koninklijke Philips N.V., Eurocolumbus srl, Trivitron Healthcare, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by C-arm type, detector type, application, end user, and by region.
The hospital/surgical centers segment registered the largest market share of 30.79% in the year 2019 and is anticipated to display significant growth opportunities in the future.
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