PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555754
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555754
Image Guided Surgery Devices Market size was valued at USD 7,109.23 Million in 2023, expanding at a CAGR of 11.20% from 2024 to 2032.
The Image Guided Surgery Devices market includes technologies like CT scanners, MRI systems, ultrasound systems, and endoscopes designed to improve surgical precision. These devices provide real-time imaging that helps surgeons plan and navigate complex procedures, enhance accuracy, and reduce complications. Integrating advanced imaging technologies supports minimally invasive techniques, which contribute to quicker recovery times and better patient outcomes. As surgical procedures continue to evolve, the demand for these devices is growing, driven by advancements in imaging and the need for more precise and effective interventions.
Image Guided Surgery Devices Market- Market Dynamics
Increasing Cases Of Conditions Such As Cancer, Cardiovascular Diseases, And Orthopedic Issues Drive Demand For Precise And Minimally Invasive Surgical Interventions.
The rising incidence of chronic conditions such as cancer, cardiovascular diseases, and orthopedic issues significantly drives the demand for image-guided surgery devices. Cancer, responsible for approximately 10 million deaths worldwide in 2020, and cardiovascular diseases, which contribute to an estimated 17.9 million deaths annually, both require highly precise surgical interventions. Orthopedic conditions are also a leading cause of disability, affecting millions of people each year. These complex conditions often demand detailed imaging for accurate diagnosis and targeted treatment. Advanced CT and MRI scanners provide this necessary precision, and minimally invasive procedures-preferred for their reduced recovery times and lower risk of complications-rely heavily on real-time imaging to guide surgical instruments accurately. As the prevalence of these conditions continues to grow, the need for advanced image-guided technologies rises correspondingly.
Image Guided Surgery Devices Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 11.20% over the forecast period (2024-2032)
Based on product type segmentation, Computed Tomography (CT) was predicted to show maximum market share in the year 2023
Based on application segmentation, Orthopedic surgery was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Image Guided Surgery Devices Market is segmented on the basis of Product Type, Application, End User, and Region.
The market is divided into two categories based on Product type: Computed Tomography (CT) Scanners are the most prominent segments. CT scanners are widely used due to their ability to provide detailed cross-sectional images of the body, which are crucial for planning and guiding surgeries. MRI systems are also highly valued for their superior soft tissue imaging capabilities, which enhance surgical precision and outcomes. Both segments benefit from ongoing technological advancements and growing demand for accurate, real-time imaging in surgical procedures.
The market is divided into seven categories based on Application: Orthopedic surgery is a significant segment in the Image Guided Surgery Devices market, primarily due to the precision required in aligning and placing implants such as screws, plates, and prosthetics. Image-guided systems, including CT and MRI scanners, as well as intraoperative imaging technologies, enable surgeons to achieve highly accurate placements and adjustments, which are crucial for successful outcomes and faster patient recovery.
Image Guided Surgery Devices Market- Geographical Insights
The North American market for image-guided surgery (IGS) devices is expanding rapidly due to advances in technology and increasing demand for minimally invasive procedures. Key drivers include the growing prevalence of chronic diseases, technological innovations such as enhanced imaging modalities, and an aging population requiring surgical interventions. Major players in the market are focusing on developing integrated solutions that combine imaging with surgical instruments to improve precision and outcomes. Moreover, rising healthcare expenditures and the push for improved surgical efficiency are propelling market growth. However, high costs and regulatory challenges remain significant barriers to widespread adoption.
The competitive landscape for image-guided surgery devices is dynamic and rapidly evolving, driven by technological advancements and increasing demand for precision in surgical procedures. Key players include established companies like GE Healthcare, Siemens Healthineers, and Philips, which leverage their extensive experience and robust product portfolios. Emerging companies and startups, such as Cydar Medical and Brainlab, are also making significant strides with innovative solutions like augmented reality and advanced imaging technologies. The competition is further intensified by ongoing research and development efforts aimed at improving imaging quality, integration with surgical systems, and overall patient outcomes. As the market grows, companies must navigate regulatory challenges and address the needs of a diverse global healthcare landscape.
In Feb 2024, Royal Philips has introduced the Image Guided Therapy Mobile C-arm System 9000 for surgeons in India.
In Feb 2023, Cydar Medical, a developer of image-guided surgery software, has secured $11.5 million in a Series A funding round. The investment, led by Pembroke VCT and supported by Downing Healthcare Ventures, will bolster the company's augmented reality surgery aid.