COVID-19 Impact on the global fluoroscopy equipment market
Posted by Kriti on June 2nd, 2021
The COVID-19 pandemic has significantly impacted the buying capacity of hospitals, especially small-scale hospitals and scanning centers. According to an article in the Livemint, private hospitals in India have faced revenue losses of up to 90% due to the COVID-19 pandemic. The pandemic has also impacted the operation of manufacturing companies. Companies are functioning with a limited workforce. Moreover, the turnaround time for the delivery of products and services is affected due to newer packaging protocols and lockdown measures imposed by countries. All these factors are negatively impacting the manufacturing and supply chain of fluoroscopy products.
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Growth in the fluoroscopy systems market is attributed to factors such as advantages of FPDs over image intensifiers, the use of fluoroscopy in pain management, reimbursement cuts for analog radiography systems, rising geriatric population, and the growing prevalence of chronic diseases.
On the basis of product, the fluoroscopy equipment market is segmented into fixed C-arms, fluoroscopy systems, and mobile C-arms. The mobile C-arms segment is projected to register the highest growth during the forecast period. The rising prevalence of cardiovascular diseases and the increasing number of orthopedic surgeries are some of the major factors driving the growth of the mobile C-arms market. C-arms are used for a wide range of applications, including surgeries for cardiovascular diseases, neurosurgeries, and surgeries for gastroenterology, orthopedics, traumatology, and urology disorders.
“By application, cardiology accounted for the largest share of the diagnostic applications market in 2019”
On the basis of diagnostic applications, the fluoroscopy equipment market is segmented into cardiology, gastroenterology, urology & nephrology, and other diagnostic applications. Cardiology is the largest diagnostic application segment of the fluoroscopy equipment market. The large share of this segment is attributed to the high burden of cardiovascular diseases (CVDs) worldwide and the convenience and better results offered by fluoroscopy systems during the diagnosis and treatment of various cardiac disorders.
North America accounted for the largest share of the fluoroscopy equipment market in 2018, while the Asia Pacific market is expected to register the highest growth during the forecast period
In 2019, North America accounted for the largest share of the fluoroscopy systems market. Factors such as the increasing incidence of overuse sports injuries, rising prevalence of CVD, and the increasing number of hip and knee replacement surgeries are driving the growth of the North American fluoroscopy equipment market. However, the Asia Pacific market is projected to register the highest CAGR during the forecast period primarily due to the growing geriatric population in Japan and China and the healthcare reforms and government initiatives & investments in several APAC countries.
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About the AuthorKriti
Joined: July 3rd, 2019
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