There are few dominating players operating in the global fluoroscopy and mobile c-arms market and these players generate maximum market share. Additionally, there are other small and medium scale players present in the market. Moreover, the launch of new products has assisted some major players to gain a competitive advantage in the market.
GE Healthcare (US) is a prominent player in the field of imaging devices. The firm accounted for 20.4% share in 2017. The key reason for its growth is its wide range of products and wide application areas. The company has a broad portfolio of fluoroscopy and mobile c-arms systems. This increase in product approvals and launches would support the company’s growth in the fluoroscopy and mobile C-arms market in the coming years. For instance, in August 2016, GE Healthcare launched the OEC Elite MiniView C-arm, a new imaging system designed to change the mini C-arm experience for surgeons.
Siemens (Germany) accounted for approximately 18.4% of the fluoroscopy and mobile c-arms market. Moreover, the company focuses on organic growth strategies to increase its market share. Additionally, the company is actively engaged in strategic partnerships to increase its market presence. For instance, in August 2017, the company formed a strategic partnership with the Medical University of South Carolina (MUSC). Additionally, in July 2015, Siemens signed a new contract with Inpeco, a market leader in the field of total laboratory automation.
Koninklijke Philips N.V. (Philips Healthcare) (Netherlands) contributed to approximately 13.5% of the fluoroscopy and mobile c-arms market in 2017. The company offers a wide range of products for fluoroscopy systems along with c-arm systems. The firm concentrates on strategic partnerships to increase its presence and market share. Additionally, the company is involved in the continuous development of innovative products. Recently, in February 2019, the company announced the launch of Philips Zenition, its new mobile C-arm imaging platform. Moreover, in April 2018, the company announced the US FDA clearance of ProxiDiagnost N90, a digital radiography-fluoroscopy system.
Hitachi Ltd (Japan) accounted for the fourth largest spot with 11.7% of the market share. The company focuses on merger and acquisition activities to maximize its market share. For instance, in December 2016, Hitachi acquired 75% shares of Kurt & Kurt, making it a consolidated subsidiary of the company.
Other firms accounted for 12.4% market share in 2017, that includes companies such as DSM Imaging, Omega Medical Imaging, LLC, Carestream Health, Aurora Healthcare US Corp, and Dilon Technologies, Inc, among others.
Bargaining Power of Suppliers
The bargaining power of suppliers in the global fluoroscopy and mobile C-arms market is moderate. In this market, the suppliers are laboratory instruments manufacturers and accessories manufacturers. There are many major and small manufacturers involved in providing various imaging equipment that are used in clinical research, new drug development and for the diagnosis of diseases. Most of the major players are investing huge money in R&D and new product development. Innovation and advanced products give an edge to suppliers. Major brands have a strong presence and brand value in the market while many medium and small players are also providing the same products at different pricing. Grey market of products is affecting the bargaining power of suppliers. Quality of the products are the key factors that directly affect the bargaining power of suppliers. Moreover, the larger the number of suppliers in the market lower is the bargaining power of the supplier. The innovation and cost-effective products give an edge to suppliers to increase their market and create brand loyalty among the customer.
Bargaining Power of Buyers
The bargaining power of the buyer in the global fluoroscopy and mobile C-arms market is high. Bargaining power of the buyer can define by a number of buyers, switching cost from one seller to other, and availability of alternative products. If the number of buyers for fluoroscopy and mobile C-arms products is high the bargaining power will be low. There are different research centers, hospitals and academic industries using imaging diagnostic devices, so the demand for the product is high. The presence of a large number of suppliers and low switching cost increases the bargaining power of the buyer. The threat of backward integration is low in this market.
Threat of New Entrants
The threat of new entrants in the global fluoroscopy and mobile C-arms market is moderate. The global fluoroscopy and mobile C-arms market is growing rapidly due to the growing geriatric population and increasing number of sports injuries worldwide, rising R&D funding for the development of new imaging device, increasing demand for fluoroscopy by the hospitals. The companies involved in the mergers and acquisitions and rapid product launches are generating a huge amount of profit and influencing the potential companies to enter into this market.
The specialist knowledge or expertise related to product development and the huge capital required for the development of fluoroscopy and mobile C-arms products acts as an entry barrier for the new players. Brand loyalty and tough competition from existing companies also prohibit the entry of new players.
Further, several small and medium-size companies are creating their space and trying to capture the market share which mostly untouched by major players. Easy distribution and undifferentiating product are increasing the threat of new entrants in the global fluoroscopy and mobile C-arms market.
Threat of Substitutes
The threat of substitutes in the global fluoroscopy and mobile C-arms market is low. The innovation and launch of new imaging diagnostics systems for the diagnosis of vascular, cardiological, and orthopedic anomalies are increasing the threat of substitution for existing products. The customers tend to select the product according to their need and which provide the best results. The other factors that increase the threat of substitutes are low brand loyalty, increasing the price of the product and low switching cost. So, the companies are focusing on developing high-quality and cost-effective products as per the market need to decrease the threat of substitute.
Intensity of Rivalry
The intensity of rivalry in the global fluoroscopy and mobile C-arms market is moderate. The rising demand for imaging techniques and diagnostic products by the end user such as hospitals and research academies are contributing to the increase in rivalry among the companies to capture a large market. Also, the increase in similar types of product offered by different companies increases the competition among the companies. The increase in the number of players decreases the profit share for each company and results to increase the intensity of competition in the respective market.
