MARKET OVERVIEW
Image-guided surgery (IGS) refers to applying a real-time correlation of the surgical field to a preoperative imaging data collection that reflects the precise placement of a chosen surgical instrument to the adjacent anatomic structures. Several health issues can be diagnosed and treated with image-guided surgery devices. Image-guided surgical technology facilitates precise and successful surgery and reduce the overall procedural time. Although endoscopic sinus surgery (ESS) was first created for neurosurgery, it quickly became the most popular application. Since the development of the endoscopic technique in the middle of the 1980s, image-guided surgery has been one of the most important developments in endoscopic sinus surgery. With this technology, the surgeon can examine the anatomical dissection of the sinuses in real-time on a computer monitor in the operating room.
Furthermore, image-guided surgery is frequently used for minimally invasive spinal surgery and occasionally used during conventional and open surgeries. In minimally invasive spinal surgery, the skin is slightly punctured and minimal quantity of tissues removed by specialized devices for surgical tools to reach the surgical area. Instead of a larger amount of tissue that a surgeon would have to remove to see the area with the unaided eye. Minimally invasive surgery can cause less tissue damage than conventional surgeries, lessen post-operative discomfort and complications, and speedy recovery. Furthermore, the market is primarily driven by the increase in the geriatric population, rising demand for minimally invasive procedures, and technical advancement in imaging systems. In addition, the market is growing due to the rising prevalence of chronic diseases such as cancer, cardiovascular disorders and neurological disorders.
MARKET SCOPE
The “Global image-guided surgery devices market analysis to 2030” is a specialized and in-depth study of the medical device industry with a special focus on global market trend analysis. The report aims to provide an overview of the image-guided surgery devices market with detailed market segmentation by device type, application, end user, and geography. The report provides key statistics on the market status of the leading image-guided surgery devices market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The image-guided surgery devices market is segmented based on device type, application, end user, and region. Based on device type, the global image-guided surgery devices market is differentiated into computed tomography (CT) scanners, ultrasound systems, magnetic resonance imaging (MRI), endoscopes, X-ray fluoroscopy, positron emitted tomography (PET), and single photon emission computed tomography (SPECT). By application, the image-guided surgery devices market is classified into cardiac surgery, neurosurgery, orthopedic surgery, urology, gastroenterology, oncology surgery, and other applications. Based on end user image-guided surgery market is segmented into hospitals, ambulatory surgery centers, clinics, and research & academic institutions.
MARKET DYNAMICS
Drivers-
The market of image-guided surgery devices is primarily driven by the increase in the elderly population, rising preference of minimally invasive surgeries, and technological developments in imaging systems. Furthermore, the rising prevalence of chronic diseases like cancer and the increase in cancer treatment efforts will also drive the market growth. For instance, a American cancer society estimates that there will be around 1.9 Million new cases of cancer in 2022. Thus increasing cases of cancer has created positive impact on image-guided surgery devices market.
Furthermore, the preference for minimally invasive treatments is another factor driving image-guided surgery devices market. According to a national survey study by Johns Hopkins Medicine, the use of minimally invasive techniques for some common procedures can lower postoperative problems and can also control healthcare expenditures. Moreover, systems for image-guided therapy have substantially improved, enabling procedures that are safer and more precise. For instance, Philips introduced the Zenition 10 image-guided therapy mobile C-arm system in May 2023. The Zenition 10 is anticipated to increase patient access to routine surgical treatment and minimally invasive procedures. It is based on Philips' panel detector technology.
The image-guided surgery devices market is expanding as a result of several initiatives to promote cancer radiation and rising private sector investments in the creation of sophisticated image-guided therapy devices. Several organisations engaged in cancer radiation research include Cancer Research U.K., Medical Research Council, and National Institute for Health Research. For instance, the Department of Radiation Oncology at Stanford Medicine is conducting research to create platforms for minimally invasive cancer diagnosis, imaging, and treatment.
In addition, in response to the COVID dilemma, the industry participants have developed remote solutions, such as cloud-based training on virtual machines, to offer remote counselling and assistance to the patients. In order to give healthcare professionals access to online training for the Philips Ultrasound Affiniti system, Royal Philips and LeQuest teamed in November 2020.
REGIONAL FRAMEWORK
North America accounts for largest revenue share in global image-guided surgery devices market in 2022. Medical care is undergoing a persistent change owing to technological advancement. This not only makes early diagnosis possible, but it also offers safer and more effective treatment choices. The newest trend in image-guided surgery that is driving the market ahead is the increased use of robotics and other cutting-edge methods. Devices for image-guided surgery are becoming more popular as a result of expanded applications and improved patient results. The use of these devices in neurosurgical treatments has developed significantly as minimally invasive surgeries have become the norm.
The regional market is expanding as a result of the rising number of chronic diseases and the ageing population. In 2022, the U.S. held the highest share in North America. In the upcoming years, favourable measures launched by private businesses in the realm of minimally invasive interventional and surgical methods are anticipated to drive market growth. Over the forecast period, Asia Pacific is anticipated to have the fastest CAGR. The factors responsible for rapid expansion are the ageing population, rising target illness cases, and progressing healthcare infrastructure. A growing number of research facilities in nations like China and India are having a beneficial impact on the expansion of the regional market.
MARKET PLAYERS
The report covers key image-guided surgery devices market developments, such as organic and inorganic growth strategies. Various companies such as GE Healthcare, Medtronic Plc., Olympus Corporation, Siemens Healthineers, Koninklijke Philips N.V.,Analogic Corporation, Brainlab AG, Karl Storz Gmbh & Co. KG, Stryker Corporation, Varian Medical Systems Inc., and among others are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the expansion of business and the customer base of image-guided surgery devices market players. The market players from the image-guided surgery devices market are anticipated to have lucrative growth opportunities with the rising demand for image-guided surgery devices in the global market.
Key Developments in Global Image-guided surgery devices market
- In September 2022, Olympus Corporation launched VISERA ELITE III, a surgical visualization platform that focuses on the needs of healthcare professionals (HCPs) for endoscopic techniques across multiple medical disciplines.
- In May 2022, GE Healthcare launched Allia platform for minimally invasive image-guided surgery. In this platform users experiences the difference immediately upon entering the interventional operating room, where user can access all their essential functions from a specified workplace through intuitive & compact user interfaces.
The report also includes key companies' profiles, their SWOT analysis, and image-guided surgery devices market size & startegies. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information for the last three years, and key development in the past five years.
The Insight Partner’s dedicated research and analysis team comprises experienced professionals with advanced statistical expertise and offers various customization options in the current study.