Global Interventional X-Ray Market to Reach USD 3.12 Billion by 2021
By MedImaging International staff writers Posted on 09 Nov 2017 |
Image: The global interventional X-ray equipment market is expected to grow at a rate of 3.5 percent between 2016 and 2021 to reach an estimated market value of USD 3.12 billion by 2021 (Photo courtesy of Philips Healthcare).
The global interventional X-ray (IXR) equipment market is expected to grow at a compound annual growth rate (CAGR) of 3.5 percent between 2016 and 2021 to reach an estimated market value of USD 3.12 billion by 2021. Value-based pricing, product differentiation, technology innovation and embracement of multi-modality integration in hospital segments will continue to drive the demand for IXR systems. These are the findings of Frost & Sullivan, a consulting and research firm (Santa Clara, CA, USA).
The global IXR equipment market is witnessing a steady growth, driven by the effective utilization in emerging clinical applications, such as cardiology, orthopedics, sports medicine imaging, minimally invasive procedures, and emergency room (ER) procedures. The stable growth is expected to continue throughout the forecast period, led by the best-suited established clinical segments such as oncology, and pediatric interventions. The demand for IXR equipment will be further fueled by system replacements, embracement of multi-functional applications in hospital segments, and market shift from interventional applications to comprehensive image-guided therapy (IGT) portfolios.
Among the developments and trends propelling the growth of the global IXR equipment market are advances in surgical imaging, mobile C-arm, multi-modality integration, and robotics in C-arm; focus on improving radiation dose capabilities and image fusion across fixed and mobile C-arms; and customizable developments in mobile C-arm systems driving the demand for minimally invasive and image-guided procedures. Other factors such as end-user preference for higher image quality, radiation safety, and user-friendly devices; high demand for IXR from mid- and large-sized imaging facilities and hospitals; emergence of hybrid and integrated interventional X-ray systems; and the adoption of IXR systems by the growing number of low-volume community hospitals, secondary care, rural areas, imaging centers, and private practices are also expected to contribute to the market growth.
“As interventional radiology and cardiology converge, bi-plane systems used in cardiology, oncology, and neuro-radiology are expected to be the best-performing sub-segment of the segment, owing to a renewed business interest for new, full-fledged solutions replacing existing IXR systems,” said Transformational Health Senior Analyst Poornima Srinivasan. “On the flip side, reduced vendor margins due to fragmentation, lack of a skilled workforce in new clinical specialties, budget constraints, price erosions, and commoditization of technology are factors hindering market adoption and growth.”
Related Links:
Frost & Sullivan
The global IXR equipment market is witnessing a steady growth, driven by the effective utilization in emerging clinical applications, such as cardiology, orthopedics, sports medicine imaging, minimally invasive procedures, and emergency room (ER) procedures. The stable growth is expected to continue throughout the forecast period, led by the best-suited established clinical segments such as oncology, and pediatric interventions. The demand for IXR equipment will be further fueled by system replacements, embracement of multi-functional applications in hospital segments, and market shift from interventional applications to comprehensive image-guided therapy (IGT) portfolios.
Among the developments and trends propelling the growth of the global IXR equipment market are advances in surgical imaging, mobile C-arm, multi-modality integration, and robotics in C-arm; focus on improving radiation dose capabilities and image fusion across fixed and mobile C-arms; and customizable developments in mobile C-arm systems driving the demand for minimally invasive and image-guided procedures. Other factors such as end-user preference for higher image quality, radiation safety, and user-friendly devices; high demand for IXR from mid- and large-sized imaging facilities and hospitals; emergence of hybrid and integrated interventional X-ray systems; and the adoption of IXR systems by the growing number of low-volume community hospitals, secondary care, rural areas, imaging centers, and private practices are also expected to contribute to the market growth.
“As interventional radiology and cardiology converge, bi-plane systems used in cardiology, oncology, and neuro-radiology are expected to be the best-performing sub-segment of the segment, owing to a renewed business interest for new, full-fledged solutions replacing existing IXR systems,” said Transformational Health Senior Analyst Poornima Srinivasan. “On the flip side, reduced vendor margins due to fragmentation, lack of a skilled workforce in new clinical specialties, budget constraints, price erosions, and commoditization of technology are factors hindering market adoption and growth.”
Related Links:
Frost & Sullivan
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