Digital Fluoroscopy System Market is Estimated to Witness High Growth Owing to Rising Adoption of Minimally Invasive Surgical Procedures

Global Digital Fluoroscopy System Market Size
Global Digital Fluoroscopy System Market Size



Digital fluoroscopy systems are medical imaging systems that capture a continuous flow of X-ray images and transmit them to a monitor. These systems are used during minimally invasive surgeries to guide medical devices inside the body without the need for large incisions. Some key advantages of digital fluoroscopy systems include real-time imaging, less radiation exposure compared to conventional fluoroscopy, and improved image quality. The growing preference for minimally invasive techniques among patients and doctors due to benefits like less pain, fewer complications, and shorter hospital stays has increased the demand for digital fluoroscopy systems in operating rooms and surgical centers.

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 Opportunity:
The rising adoption of minimally invasive surgical procedures presents a lucrative opportunity for the digital fluoroscopy system market. Minimally invasive surgeries are associated with several benefits like less post-operative pain, decreased hospitalization time, and reduced scarring. Moreover, factors such as the growing geriatric population, increasing incidence of chronic diseases, and technological innovations are expected to drive the demand for minimally invasive procedures. As digital fluoroscopy provides real-time imaging guidance during minimally invasive surgeries, increasing preference for such surgeries will boost the demand for digital fluoroscopy systems during the forecast period.

Porter's Analysis
Threat of new entrants: The digital fluoroscopy system market requires high R&D investment and technological expertise to develop innovative products. This poses significant entry barriers for new players.

Bargaining power of buyers: The availability of substitute imaging modalities and integrated imaging systems increases buyers' bargaining power. However, the need for real-time medical imaging during surgeries limits this threat.

Bargaining power of suppliers: The presence of numerous component suppliers gives buyers leverage in negotiating prices. Suppliers' bargaining power is relatively weak due to low switching costs.

Threat of new substitutes: Computed Tomography and Magnetic Resonance Imaging are established substitutes. However, fluoroscopy offers real-time imaging capability, posing limited threat from substitutes.

Competitive rivalry: The market comprises many global players. Intense competition over pricing and technological innovation increases rivalry.

SWOT Analysis

Strengths: Real-time intraoperative imaging capability. Ability to guide minimally invasive procedures.

Weaknesses: High installation and maintenance costs. Exposure to radiation dose for patient and staff.

Opportunities: Rising chronic diseases and orthopedic surgeries drive demand. Untapped growth potential in developing nations.

Threats: Stringent regulatory approval process increases compliance costs. Risks of diagnostic errors and technical issues.


Key Takeaways

Global Digital Fluoroscopy System Market Size is expected to witness high growth. North America currently dominates owing to the rising healthcare expenditure and technological advancements. However, Asia Pacific is poised to grow the fastest due to expanding medical infrastructure, growing medical tourism, and increasing healthcare expenditure in China and India.

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. and Hologic Corporation. Technological innovations to develop premium products with enhanced functionality and improved workflow efficiency will remain key strategies of market leaders.

The benefits of real-time imaging, reduced radiation exposure, and advanced features for complex surgeries drive growing adoption. Furthermore, rising joint replacement surgeries, trauma cases, and prevalence of chronic diseases augment demand. However, high installation costs, regulatory compliance challenges, and risks of misdiagnosis restrain market growth.

 

Explore More Related Article On This Topic: https://www.ukwebwire.com/digital-fluoroscopy-system-market-share/

 

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