PUBLISHER: The Business Research Company | PRODUCT CODE: 1414302
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414302
“Image Guided Surgery Devices Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on image guided surgery devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for image guided surgery devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The image guided surgery devices market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Image-guided surgery devices are tools employed for performing surgeries with the aid of highly sophisticated computerized systems that generate three-dimensional images of the patient's anatomy. Surgeons utilize these devices to obtain real-time images of the internal structures during surgical procedures.
The primary components of image-guided surgery devices encompass the devices themselves and the accompanying software. Image-guided surgery devices are specifically designed to assist surgeons in navigating a patient's anatomy in three dimensions (3D) in real-time. Various devices involved in this process include CT, ultrasound, MRI, X-ray, fluoroscopy, endoscopes, PET, and SPECT. These devices find applications in a range of surgical fields such as cardiac surgery, neurosurgery, orthopedic surgery, urology, oncology surgery, gastroenterology, and other medical specialties. The end-users of these devices include hospitals, ambulatory surgical centers, specialty clinics, as well as research and academic institutions.
The image guided surgery devices market research report is one of a series of new reports from The Business Research Company that provides image guided surgery devices market statistics, including image guided surgery devices industry global market size, regional shares, competitors with image guided surgery devices market share, detailed image guided surgery devices market segments, market trends, and opportunities, and any further data you may need to thrive in the image guided surgery devices industry. This image guided surgery devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The image guided surgery devices market size has grown rapidly in recent years. It will grow from $8.23 billion in 2023 to $9.1 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The expansion observed in the historical period can be ascribed to the increasing prevalence of chronic diseases, the broadening scope of applications, the development of healthcare infrastructure, growing awareness among healthcare professionals, and supportive regulatory approvals.
The image guided surgery devices market size is expected to see rapid growth in the next few years. It will grow to $14.05 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The anticipated growth in the forecast period can be attributed to the expansion of the market in emerging economies, a preference among patients for minimally invasive procedures, the trend towards customization and personalization of treatments, addressing global health challenges and enhancing preparedness, as well as fostering collaborations and partnerships. Key trends expected in the forecast period involve the sustained drive for technological innovations, integration with artificial intelligence, continuous technological advancements, global expansion of the market, and a growing adoption of robotics.
The anticipated increase in neurological disorders is set to drive the growth of the image-guided surgery devices market in the coming years. Neurological disorders, impacting both the central and peripheral nervous systems, can be effectively addressed using image-guided surgery devices. These devices play a crucial role in performing minimally invasive surgeries for conditions such as brain tumors and brain biopsies. According to the European Academy of Neurology in May 2022, one in three individuals is expected to be affected by a neurological disease at some point in their lives, with a nearly 40% increase in deaths due to neurological conditions over the past 30 years. This rise in neurological disorders is a significant factor propelling the expansion of the image-guided surgery devices market.
The growing preference for minimally invasive surgeries is anticipated to fuel the growth of the image-guided surgery devices market. Minimally invasive surgeries (MIS) involve less disruption to the body compared to traditional open surgeries, and the integration of image-guided surgery devices enhances precision, safety, and patient outcomes while minimizing recovery time. As per the American Society for Metabolic and Bariatric Surgery (ASMBS) in June 2022, the number of bariatric surgeries conducted in 2021 reached approximately 262,893, marking a notable increase from the 198,651 surgeries in 2020. This surge in the preference for minimally invasive surgeries is a key driver for the growth of the image-guided surgery devices market.
Technological advancements emerge as a significant trend in the image-guided surgery devices market, with major players focusing on introducing advanced technologies to strengthen their market position. In March 2022, Siemens Healthineers unveiled innovative devices, including MAGNETOM Free. Star and NAEOTOM Alpha. MAGNETOM Free. Star, a helium-free scanner, employs DryCool technology, utilizing digitalization and artificial intelligence (AI) to simplify complex MRI technologies and deliver high-quality results in MRI scans. The NAEOTOM Alpha, equipped with the QuantaMax detector, provides high-resolution images at a lower dose, offering improved contrast at lower noise for precise, non-invasive diagnoses in cardiology, pulmonology, cancer, and emergency medicine.
Prominent companies in the image-guided surgery devices market are placing a strategic focus on innovative products such as the mobile C-arm system to boost their revenues. The mobile C-arm system serves as a medical imaging device crucial for capturing real-time X-ray images during surgical and interventional procedures. In May 2023, Koninklijke Philips N.V., a health technology company based in the Netherlands, introduced the Zenition 10, showcasing advanced flat panel detector technology. This technology not only enhances the affordability of therapy but also improves patient outcomes. The Zenition 10 system offers individualized user profiles, application-specific protocols, exceptional C-arm mobility, and a low-dose pediatric mode. Designed to handle high patient throughput with speed and efficiency, the system is also versatile enough to meet the specific requirements of trauma, orthopedics, and other surgical specialties, optimizing its usage. As an affordable imaging option for routine surgery, it provides the necessary speed and efficiency to manage a high patient flow.
In December 2021, GE Healthcare, a medical technology company based in the United States, completed the acquisition of BK Medical for an estimated $1.45 billion. This strategic acquisition equips GE Healthcare with new capabilities in post-operative ultrasound and contributes to the company's expertise in the rapidly expanding field of advanced surgical visualization. BK Medical, a US-based company specializing in surgical interventions and products featuring real-time active imaging, enhances GE Healthcare's position by bringing valuable assets and capabilities to its portfolio.
Major companies operating in the image guided surgery devices market report are General Electric Company, Medtronic Plc., Olympus Corporation, Siemens Healthineers, Koninklijke Philips N.V., Brainlab AG, Karl Storz Gmbh & Co. KG, Stryker Corporation, Varian Medical Systems Inc., Hitachi Medical Corporation, Analogic Corporation, Zimmer Biomet Holdings Inc., Smith and Nephew Plc, FUJIFILM Holdings Corporation, Shimadzu Corporation, Intuitive Surgical Inc., Canon Medical Systems Corporation, Synaptive Medical, Sienna Cancer Diagnostics, Accuray Incorporated, ClaroNav Inc., PathAI, Merge Healthcare Inc., CureMetric Health Tech, Mirada Medical Ltd., Navigation Sciences, Elekta AB, XION GmbH, Northern Digital Inc., Fiagon AG Medical Technologies
North America was the largest region in the image guided surgery devices market in 2023. The regions covered in the image guided surgery devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the image guided surgery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The image guided surgery devices market includes revenues earned by entities by providing ultrasound, and angiography integration software. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The image guided surgery devices market also consists of sales of surgical navigation equipment, tracking tools, and IGS systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.