Image Guided Surgery Devices Market Size

Image-Guided Systems (IGS) or Interventional Radiology is a specialization in vascular and non-vascular disease diagnosis, investigation, and picture guided therapeutic management. Image-Guided Systems refers to a surgical technique that is used for accurate position diagnosis in the preoperative images and provides direction for surgical instruments when working in the operative region. Image-Guided Systems helps to identify and treat diseases and defects. Image guidance systems improve surgical precision and thus effectively assist in surgery. IGS instruments help doctors in surgical preparation and assist surgeons in performing procedures. Image-guided surgery refers to the use during surgical procedures of intraoperative or preoperative photographs to direct surgeons. During the surgery, it increases accuracy, decreases the time of the operation, decreases the difficulty, and minimizes the surgical scar. Various products, such as x-ray fluoroscopy, computed tomography, single-photon emission computed tomography, magnetic resonance imaging, and ultrasound are majorly contributing to the image-guided surgery devices.

Market Highlights

Global Image Guided Surgery Devices Market is expected to project a notable CAGR of 8.2% in 2030.

Global Image Guided Surgery Devices Market to surpass USD 12.53 million by 2030 from USD 5.28 million in 2018 at a CAGR of 8.2% throughout the forecast period, i.e. 2019-30. Some of the main factors for global market growth are growing cases of neurological disorders, growing chronic disease prevalence, increasing geriatric population, and increasing healthcare expenditure. In emerging economies, the growing demand and penetration of image-guided surgery devices provide tremendous growth opportunities for the global market for image-guided surgery devices. In addition, rising cancer cases and the introduction of technologically advanced imaging systems also boost the market growth.

Global Image Guided Surgery DevicesMarket: Segments

The magnetic resonance imaging Segment to grow with the highest CAGR of XX.X% during 2019-30

Global Image Guided Surgery devices market is segmented by product type into x-ray fluoroscopy, computed tomography (CT), magnetic resonance imaging (MRI), ultrasound, endoscopes, single-photon emission computed tomography (SPECT), and positron emission tomography (PET). The computed tomography segment held the largest share in the global Image Guided Surgery devices market in 2018owing to its multiple uses for computed tomography or CT scanners, from imaging soft tissue structures such as liver or lung tissue to complex surgery. Thus, in image-guided operations, CT scanners are increasingly being adopted. In the image-guided surgery devices industry, the magnetic resonance imaging ( MRI) segment is also expected to grow rapidly in the next few years. MRI devices cause lower radiation exposure and have state-of-the-art technology that helps provide high-resolution images; these variables are likely to lead to the rapid market growth of these products among image-guided surgery devices.

The orthopedic surgery segment to grow with the highest CAGR of XX.X% during 2019-30

Global Image Guided Surgery Devices Market is segmented by application into cardiac surgery, urology, neurosurgery, oncology surgery, orthopedic surgery, gastroenterology. The neurosurgeries segment held the largest share in the global Image Guided Surgery devices market in 2018 owing to the accuracy of complex procedures, reduced invasiveness, and decreased hospital stay are responsible for the increase in demand from the neurosurgery application segment image-guided surgery devices. The orthopedic surgery application segment is predicted to expand at a CAGR of XX% over the forecast period due to an increase in accidents and a rise in the geriatric population.

Global Image Guided Surgery Devices Market: Market Dynamics

Drivers

Increasing prevalence of neurological disorders

The growing prevalence of neurological disorders, the increasing demand and penetration of image-guided surgery devices in developing economies, the expansion of the geriatric population, the increase of healthcare awareness, and the intensification of healthcare spending are the main factors contributing to the growth of the market for image-guided surgery devices. Since they are vulnerable to illness due to low levels of immunity and elevated recovery time, the elderly population needs extensive treatment. The growing number of complex operations and the occurrence of trauma are expected to further drive the market.

Growing chronic diseases such as cancer coupled with the rising geriatric population

Growing chronic diseases such as cancer, combined with rising geriatric populations and investments and funds to develop technologically advanced products, as well as increasing healthcare R&D funding and increasing R&D trends in emerging economies, are some of the drivers of market development. The growing aging population and rising cancer prevalence have had a positive effect on the growth of the global demand for image-guided surgical devices. In the future, increasing healthcare spending is expected to fuel demand for Image Driven Surgery devices worldwide over the next few years due to the growing number of patients with cardiovascular diseases and neurological disorders.

Restrain

The high cost of surgery machines

The high cost of imaging techniques and strict regulatory requirements are key factors hindering the growth of the demand for image-guided surgery devices. Moreover, the lack of knowledge is also hurting the growth of the demand for image-guided surgery devices. The high cost of installing image-guided dental surgery equipment and the absence of a trained specialist to maintain this equipment would restrict the growth of the Global Image Guided Surgery Devices market.

Global Image Guided Surgery DevicesMarket: Regions

Global Image Guided Surgery devices market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.

Global Image Guided Surgery devices market in North America held the largest market share of XX.X% in the year 2018as The region is home to a large number of players in the industry and has a high level of novel innovations being adopted. In addition, the expansion of the geriatric population, the growing demand for non-invasive surgery, the acquisition of trained practitioners, the increase in healthcare awareness, the intensification of demand for minimally invasive surgery, the increasing incidence of neurological disorder, and the increase in healthcare expenditure are also driving the growth of the market for North American image-guided surgery devices. Increased incidences of diseases such as cancer, strokes, tumors, and cardiovascular diseases have dramatically increased the target population of patients seeking minimally invasive procedures in the Asia-Pacific region.

Competitive Landscape:

The Global Image Guided Surgery Devices market, which is highly competitive, consists of several major players such as Zimmer Biomet, PLANMECA OY, 3Shape A/S, X-NAV Technologies hold a substantial market share in the Global Image Guided Surgery Devices market. Other players analyzed in this report are Siemens AG, Koninklijke Philips N.V, Medtronic Plc, Stryker Corporation, Hitachi, Ltd., Varian Medical Systems, Inc., Smith & Nephew plc, KARL STORZ GmbH & Co. KG., Zimmer Holdings, Inc., and General Electric among others

Recently, various developments have been taking place in the market. For instance, in June 2018, Royal Philips acquired EPD Solutions, to improve its product portfolio of image-guided procedures for cardiac arrhythmias.

Global Image Guided Surgery devices market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Global Image Guided Surgery Devices Market: Key Players

GE Healthcare
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
Olympus Corporation
Medtronic
Analogic Corporation
Brainlab AG
Stryker
Varian Medical Systems, Inc.
Koninklijke Philips N.V.
Siemens Healthineers
Toshiba Corporation