by Digital fluoroscopy systems have revolutionized conventional fluoroscopy by integrating advanced digital imaging technologies. These systems provide better image quality with enhanced precision and clarity for medical imaging applications. Their digitized workflow enables seamless image capturing, storage, retrieval, and sharing capabilities.
The global Digital Fluoroscopy System Market is estimated to be valued at US$ 2.32 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The adoption of integrated digitization strategies by healthcare providers is the major trend propelling the digital fluoroscopy system market growth.Digitization allows streamlining medical imaging workflows for improved efficiency. It facilitates centralized storage and access to prior radiological examination records for comparative analysis. This aids in quick diagnosis and improved clinical decision making. Integrated digital platforms also enable remote collaboration between radiologists through cloud-based teleradiology solutions. This is increasingly important in pandemic scenarios or for hospitals in remote locations. Overall, digitization makes fluoroscopy systems more versatile and expands their applications in complex interventional imaging procedures.
SWOT Analysis
Strength: Digital fluoroscopy systems offer enhanced image quality and precision over conventional fluoroscopy systems. They provide real-time imaging which helps physicians perform complex procedures.
Weakness: High costs associated with digital fluoroscopy systems limit their adoption in resource-constrained settings. Require well-trained technicians to handle the advanced imaging technologies.
Opportunity: Rising prevalence of chronic diseases and increasing number of minimally invasive surgeries present an opportunity for market growth. Growing medical tourism in developing nations also offers scope for market expansion.
Threats: Stringent regulatory approvals and product recalls affect market revenue. Threat from alternative non-invasive imaging modalities.
Key Takeaways
Global Digital Fluoroscopy System Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global Digital Fluoroscopy System Market is estimated to be valued at US$ 2.32 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031.
Regional analysis:
North America currently dominates the global market and is expected to continue its dominance over the forecast period. This can be attributed to the rising geriatric population, increasing prevalence of chronic diseases, advanced healthcare infrastructure and favorable reimbursement policies in the region. Asia Pacific is anticipated to grow at the fastest pace owing to growing medical tourism, improving healthcare standards and rising healthcare spending in developing countries of the region.
Key players:
Key players operating in the digital fluoroscopy system market are ICF International, Inc., A.T. Kearney, Inc., McKinsey & Company, Inc., PricewaterhouseCoopers LLP (PwC), ERM Group, Inc., KPMG International, Coastal Risk Consulting, LLC, CH2M HILL Companies, Ltd. (Jacobs Engineering Group), Deloitte LLP, and Ramboll Environ, Inc. These players are focusing on new product launches, expansion of regional presence and partnerships with other players to gain market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
