May 20, 2024
Fluoroscopy Devices Market

The Global Fluoroscopy Devices Market Is Estimated To Is Driven By Increasing Healthcare Costs

Fluoroscopy has revolutionized healthcare by providing remote virtual medical care to people regardless of their location. Telehealth utilizes technologies such as video conferencing and wearable medical devices to connect doctors with patients for various medical consultations, checkups, and treatments without the need for in-person office visits. This convenience has increased access to healthcare especially in rural areas where specialist physicians may not be available locally. Telehealth also helps reduce costs for patients by eliminating travel expenses and waiting time in medical facilities.

The global Fluoroscopy devices market is estimated to be valued at US$ 5437.8 Mn in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Telehealth adoption is growing due to increasing convenience and need for social distancing during the COVID-19 pandemic. Many patients have opted for telehealth consultations from the safety of their homes to minimize virus exposure risks at clinics. Moreover, telehealth usage has removed geographical barriers allowing remote medical support for crisis situations. For example, telehealth played a vital role in continuing non-emergency care when hospitals were overwhelmed treating COVID patients. The market is also supported by increasing venture capital investments in digital health startups developing novel telehealth solutions. However, data privacy and security risks associated with virtual care services need to be addressed to boost user confidence in telehealth.

Porter’s Analysis

Threat of new entrants: The fluoroscopy devices market requires huge capital investments for R&D and manufacturing. Compliance with strict government regulations further increases barriers to entry.

Bargaining power of buyers: The buyers have moderate bargaining power due to the availability of different brands in the market. However, the need for technologically advanced devices increases their dependency on major manufacturers.

Bargaining power of suppliers: The suppliers have low to moderate bargaining power due to accessibility of raw materials and less differentiation in components. However, the compliance requirements strengthen their position.

Threat of new substitutes: There exists a low threat from substitutes due to unique benefits of fluoroscopy for real-time imaging and less invasive procedures over other imaging modalities.

Competitive rivalry: The market has presence of large multinational corporations offering similar product portfolios intensifying competition.

Key Takeaways

The Global Fluoroscopy Devices Market Demand  is expected to witness high growth. The global Fluoroscopy devices market is estimated to be valued at US$ 5437.8 Mn in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period 2024-2031.

North America currently dominates the market due to developed healthcare infrastructure and increasing geriatric population undergoing diagnostic and surgical procedures.Europe is also a major region in the fluoroscopy devices market observing growth owing to rising awareness about minimally invasive surgeries and supportive government initiatives for healthcare sector development.

Key players operating in the fluoroscopy devices market are Kemira Oyj, ION EXCHANGE (I) Ltd, Thermax Ltd, BASF-SE, GE Water & Process Technologies, Dorf Ketal, Chembond India Ltd, SNF Group, Vasu Chemicals, E. I. du Pont de Nemours and Company, Shandong Taihe Water Treatment Technologies Co., Ltd., and Shandong XinTai Water Treatment Technology Co., Ltd. Increasing consolidation and new product launches are reshaping the competitive environment in the industry.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it