Our in-depth analysis segmented the global fluoroscopy market in the following segments:
The global fluoroscopy market is anticipated to expand at a significant CAGR during 2018-2027. The rising prevalence of the chronic diseases coupled with growing demand for the minimally invasive surgeries is anticipated to be key factor for the growth of the global fluoroscopy market.The global fluoroscopy market can be segmented on the basis of surgery, end-use and region. On the basis of surgery, it is sub-segmented into biopsy, cardiovascular interventions, orthopedic surgeries and others. The cardiovascular interventions are anticipated to be the largest sub-segment of the surgery segment during the forecast period. The increasing prevalence of the cardiovascular diseases is anticipated to be the major factor for the increasing demand for the cardiovascular interventions surgery sub-segment during the forecast period. On the basis of end-use, it is sub-segmented into diagnostic centers, hospitals and clinics. Hospitals is anticipated to be the leading sub-segment during the forecast period. This is on the account of large pool of patients coupled with availability of the high quality healthcare infrastructure.
By region, global fluoroscopy market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to contribute the largest market share for the global fluoroscopy market during the forecast period. The availability of highly developed healthcare infrastructure in the region coupled with enhanced reimbursement policies is estimated to be the major factor for the region to lead the global fluoroscopy market during the forecast period. Asia-Pacific region is anticipated to be the fastest growing region for the global fluoroscopy market. The rising geriatric population in the Asia Pacific region is increasing the demand for the better diagnosis which in turn is anticipated to boost the market growth of the fluoroscopy during the forecast period.
Global fluoroscopy market is further classified on the basis of region as follows:
The rising demand for the minimally invasive techniques for the treatment of the diseases is anticipated to be the primary growth driver for the global fluoroscopy market. The increasing demand for the cost-efficiency, safety and rapid recovery from chronic disease is anticipated boost the demand for the fluoroscopy. The favorable government policies for proper reimbursement of the diagnosis is driving the global fluoroscopy market. The various other drivers for the global fluoroscopy market are high image quality and dose reduction. The increasing number of hospitals and physician across the globe is anticipated to boost the growth of the global fluoroscopy market during the forecast period. The increasing investment in the research and development by various companies operating in the fluoroscopy market is estimated to further propel the market growth of the fluoroscopy throughout the forecast period. Additionally, the favorable healthcare policies is also expected to fuel the growth of the fluoroscopy market.
However, risk associated with the radiation is anticipated to restrain the growth of the global fluoroscopy market during forecast period.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani