Key regional trends
• North America: The North American market has been significantly impacted due to postponement of non-critical surgeries, and as budgets for non-diagnostic X-ray equipment were diverted to COVID response. The North American market will be driven by replacements of existing equipment and increasing demand from outpatient clinics and facilities.
• Latin America: Brazil has been one of the worst impacted countries globally by COVID-19, resulting in a severe market retraction for both the interventional and surgical X-ray markets in 2020.
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• Western Europe: The Western Europe market is forecast to experience pricing pressures from 2020 onwards, with the economy suffering as a result of high COVID-19 impact. Recovery is expected to be steady and gradual through to 2024 as economies struggle with the impact of the pandemic.
• Eastern Europe, Middle East and Africa: The Saudi Arabia-Russia oil price war and the COVID-19 pandemic have further set back the prospects of a recovery, and the market is forecast to sharply decline in 2020 by 20.1%. Postponement of elective procedures contributed to the huge drop in demand in 2020.
• Asia Pacific: The Chinese market has had one of the quickest recoveries from the COVID-19 pandemic globally, with a forecast contraction of high single digits in 2020 for the surgical X-ray market. Demand for hybrid operating rooms and 3D mobile C-arms is high in China, mainly in high-end hospitals.
COVID-19 impact (clinical impact)
From 2021 onward, there is expected to be pent-up demand for both interventional and surgical X-ray systems. With the postponement of nonessential elective surgeries and medical procedures to conserve medical resources for COVID-19 patients, cardiovascular procedures were severely impacted during 2020. However, the massive financial burden of COVID-19 on healthcare providers is expected to result in reduced capital expenditure budgets for imaging equipment, including Interventional X-ray and Mobile C-arm systems.
While PCI procedures are assumed to be critical in treating acute myocardial infarctions (MI), only a small amount of PCI procedures performed on patients were for these life-threatening conditions. The rest of the PCI procedures are considered as “elective procedures” and were deferred during the pandemic. Globally, hospitals saw a decline in cardiovascular procedures.