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MEA Fluoroscopy - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 90 Pages I Mordor Intelligence
The Middle East & Africa Fluoroscopy Market size is estimated at USD 217.04 million in 2024, and is expected to reach USD 264.43 million by 2029, growing at a CAGR of 4.03% during the forecast period (2024-2029).
The COVID-19 pandemic placed enormous pressure on hospitals and healthcare systems that were understaffed and overworked. For instance, an article published in the World Journal of Gastrointestinal Endoscopy in November 2021 reported that as per a survey conducted in Africa reduction in endoscopic procedures during the beginning of the pandemic. Such a reduction in patient volume impacted the demand for fluoroscopy, significantly affecting the market growth during the pandemic. However, the market returned to a pre-pandemic level as COVID-19 cases declined which led to the normal to high demand levels for therapeutic and diagnostic procedures. For instance, according to an article published by the Saudi Journal of Medical and Pharmaceutical Sciences in February 2022, the COVID-19 pandemic has drastically influenced endoscopic retrograde cholangiopancreatography (a procedure that requires fluoroscopy) practice with an increase in the urgent endoscopic retrograde cholangiopancreatography (ERCP) indications. Hence, the COVID-19 pandemic severely affected the market in the initial stages of the pandemic, but as the COVID-19 cases started to decline, the market saw significant growth.
Factors such as rising demand for minimally-invasive surgeries, growing geriatric population, prevalence of chronic diseases, and advantages associated with fluoroscopy are expected to drive the market growth over the forecast period. For instance, as per the article published by Khaleej Times in November 2022, every year in the UAE, around 8,000 to 10,000 patients suffer from a stroke, equating to about one patient every hour. Such a high frequency of heart diseases is expected to fuel the demand for fluoroscopy thereby boosting the market growth. Furthermore, according to the 2022 statistics published by the United Nations Population Fund, in Egypt, a large proportion of the living population was aged 15-64, accounting for 61% in 2022. In addition, as per the same source, 6% of the population was 65 years and above in 2022. Likewise, as per the World Bank data released in December 2021, around 59.76% of Israel's total population was aged 15 to 64 years, and nearly 12.41% of Israel's total population was 65 years and older. As the geriatric population is prone to suffer from various chronic conditions this is likely to create demand for diagnosis which may contribute to market growth.
Additionally, according to an article published by Pain and Therapy, in February 2021, most interventions used for chronic pain management include fluoroscopy-guided surgeries. Furthermore, according to an article published by Radiation and Environmental Biophysics, in August 2021, in recent years, there has been growing use of X-ray fluoroscopy in clinical departments outside the main imaging departments for clinicians such as interventional cardiologists, electro-physiologists, vascular surgeons, urologists, orthopedic surgeons, and gastroenterologist in the gulf countries. Thus, with the rise in the use of fluoroscopy due to its advantages associated with it, the market is likely to grow over the forecast period.
However, side effects due to radiation exposure, the rising adoption of refurbished systems, and stringent regulations for imaging devices impede the market growth.
Middle East & Africa Fluoroscopy Market Trends
Cardiovascular Segment is Expected to Hold Significant Market Share over the Forecast Period
The cardiovascular segment is expected to grow over the forecast period due to the rising prevalence of cardiovascular diseases in the Middle East and Africa. The increased death rate due to cardiovascular diseases across developed countries and the increased geriatric population are expected to drive segmental growth. For instance, according to Saudi Health Ministry statistics, in 2021, 15% of the Saudi population suffered from hypertension, a risk factor contributing significantly to cardiovascular diseases. Hence, with the increasing risk factors and associated cardiovascular diseases, the demand for fluoroscopy is likely to increase, thereby boosting market growth.
Additionally, the government's increase in healthcare expenditure is also contributing to market growth. For instance, according to the Unicef MENA Generation 2030 regional Fact Sheet, total health expenditure per capita for 2030 and 2050 is projected to be USD 160 and USD 129, respectively. Thus, the increasing healthcare expenditure is expected to uplift the market in the coming years.
Hence, all the above-mentioned factors are expected to contribute to segmental growth over the forecast period.
GCC is Expected to Witness a Growth in the Studied Market Over the Forecast Period
The Gulf Cooperation Council (GCC) comprises six countries Saudi Arabia, Kuwait, Bahrain, Qatar, the United Arab Emirates (UAE), and Oman. Factors such as the growing burden of diseases in these countries, product launches, and strategic initiatives by market players are likely to drive market growth during the study period. Fluoroscopy is a vitally important imaging modality for obese patients, commonly used to image post-gastric bypass patients. Therefore, an increased risk of obesity is expected to drive market growth. For instance, according to the World Obesity Atlas report of 2022, the prevalence of obesity is expected to increase by 50% in women, and 37% in men by 2030 in UAE. Hence, increased risk factor such as obesity is expected to increase the demand for fluoroscopy.
Furthermore, the presence of competitors and strategic initiatives undertaken by players is also contributing to market growth. For instance, in May 2022, Ibnsina Pharma acquired EI Shorouk Hospital, Egypt which aims to diversify the strategies in the healthcare sector to improve and equip all the healthcare services in the hospital, including the endoscopic unit. Thus, such mergers, acquisitions, and partnerships are driving the growth of the market growth.
Middle East & Africa Fluoroscopy Industry Overview
The Middle East and Africa fluoroscopy devices market is consolidated in nature due to the presence of a few companies operating regionally. The competitive landscape includes analyzing local companies that hold market shares and are well known including GE Healthcare (GE Company), Canon Medical Systems Corporation, Siemens Healthineers, Koninklijke Philips NV, and Hitachi Medical Systems, among others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Demand for Minimally-invasive Surgeries
4.2.2 Growing Geriatric Population and Prevalence of Chronic Diseases
4.2.3 Advantages Associated With Fluoroscopy
4.3 Market Restraints
4.3.1 Side Effects due to Radiation Exposure
4.3.2 Rising Adoption of Refurbished Systems
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Device Type
5.1.1 Fixed Fluoroscopes
5.1.2 Mobile Fluoroscopes
5.2 By Application
5.2.1 Orthopedic
5.2.2 Cardiovascular
5.2.3 Pain Management and Trauma
5.2.4 Neurology
5.2.5 Gastrointestinal
5.2.6 Urology
5.2.7 General Surgery
5.2.8 Other Applications
5.3 Geography
5.3.1 Middle-East & Africa
5.3.1.1 GCC
5.3.1.2 South Africa
5.3.1.3 Rest of Middle-East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Canon Medical Systems Corporation
6.1.2 Siemens Healthineers
6.1.3 Koninklijke Philips NV
6.1.4 GE Healthcare (GE Company)
6.1.5 Hitachi Medical Systems
6.1.6 Shimadzu Corporation
6.1.7 Hologic Inc
6.1.8 Eurocolumbus s.r.l.
6.1.9 Ziehm Imaging GmbH
6.1.10 Varex Imaging Corporation
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