The size of the Latin American fluoroscopy market is estimated to grow USD 290.13 million by 2028 and USD 246.66 million in 2023, growing at a CAGR of 3.3% during the forecast period.
The fluoroscopy market in Latin America is majorly driven by the increasing use of fluoroscopy in pain management and the growing prevalence of chronic diseases across Latin America. Also, the growing number of interventional radiology treatments that need real-time imaging, such as fluoroscopy, is driving the market. With a rising number of minimally invasive high-precision operations, including the equipment utilized, the fluoroscopy market is expected to develop significantly, providing greater support for patients and surgeons. The rising demand for minimally invasive treatments is attributed to benefits such as the decreased risk of complications, cheaper cost, shorter recovery time, and more minor discomfort, tiny incisions, and less scarring, all of which contribute to the market's growth. Fluoroscopy equipment is frequently utilized in various interventional radiological treatments, including the treatment of varicose veins, peripheral artery disease (PAD), pulmonary embolism, deep vein thrombosis, abdominal aortic aneurysms, and other common medical problems. Therefore, Fluoroscopy systems' market growth potential is expected to be boosted by this continuous usage.
Furthermore, a growing senior population base and an increasing incidence of orthopedic operations and angiography as a result of sports injuries are expected to be high impact rendering drivers. Because of its ability to do fast real-time injury evaluations in sports, hand-held fluoroscopes are gaining appeal in emergency rooms and on-site situations.
Imaging has traditionally served primarily as a diagnostic tool, but it is increasingly being used for interventional diagnostics and therapeutic purposes as a result of minimally invasive treatments. Fluoroscopy, for example, uses real-time moving pictures to diagnose soft-tissue and hard-tissue problems. As a result, it's a must-have for many interventional medical treatments. In addition, additional features such as high cost-efficiency and mobility are expected to contribute to the use of fluoroscopes in sports medicine.
However, the radiation-related adverse effects are projected to stifle market expansion throughout the projection period in the region. In addition, new entrants in some of the countries may encounter challenges such as significant initial investment and engineering costs and the requirement for diverse product development teams.
This research report on the Latin America Fluoroscopy Market has been segmented and sub-segmented into the following categories:
By Surgery Type:
By End User:
Geographically, the Latin American fluoroscopy market is projected to account for a substantial share during the forecast period. The regional market growth is attributed to the implementation of strict regulatory and reimbursement frameworks to ensure patient safety and high diagnostic standards and a rising number of collaborations to develop a new generation of products in the region. The rising demand for minimally invasive treatments is attributed to benefits such as the decreased risk of complications, cheaper cost, shorter recovery time, and less discomfort, tiny incisions, and less scarring, all of which contribute to the market's growth. As a result, fluoroscopy usage in pain management is projected to contribute to regional market growth. In addition, however, the growing number of minimally invasive surgeries across developing countries such as Brazil and Mexico are expected to uplift the market. In the regional markets, Mexico and Brazil are most likely to witness the largest market share and contribute to the Latin American regional market growth. Growing geriatric population in Brazil and Mexico and initiatives by the government and healthcare reforms are estimated to encourage market growth.
KEY MARKET PLAYERS:
A few of the notable companies operating in the Latin America Fluoroscopy market profiled in this report are Philips Healthcare, GE Healthcare, Siemens Medical Solutions, Shimadzu Medical Systems, Shanghai Bojin Medical Instrument Co., Ltd and Toshiba Medical Systems Corp.
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