Fact.MR – A Market Research and Competitive Intelligence Provider: As per Fact.MR, the image guided surgery devices market is expected to reach US$ 4 Bn in 2021.
Sales to Surpass US$ 8.1 Bn as Image-Guided Surgery Devices Become Standard of Care for Managing Neurological Disorders
The latest study on image guided surgery devices market by Fact.MR provides a meticulous analysis of prevailing dynamics, current developments affecting growth in the market, and trending business strategies. It studies various growth drivers, opportunities and challenges affecting the demand across leading segments in terms of device, application, and end user.
Fact.MR – A Market Research and Competitive Intelligence Provider: As per Fact.MR, the image guided surgery devices market is expected to reach US$ 4 Bn in 2021. With rising preference for minimally invasive surgeries and increasing prevalence of chronic diseases, the overall market is projected to register CAGR of 7.3% between 2021 and 2031, totaling US$ 8.1 Bn by 2031.
Advent of image guided surgery devices has completely transformed the modern surgical techniques. These devices facilitate greater accuracy during surgery, decrease procedure time, reduce complexity, and minimize risks of tissue damage.
Image guided surgery devices are mostly useful in performing complicated surgeries where there is maximum chance of tissue damage and threat to patient’s safety. Hence, they help in conducting safer and less invasive procedures.
The growing popularity of computer assisted surgery is projected to accelerate the growth of image guided surgery devices market during the forecast period. Integration of modern technologies such as augmented and virtual reality into image-guided surgery (IGS) also will boost the market through the forecast period. Demand for computed tomography (CT) scanners are expected to lead the market share.
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As per Fact.MR, the demand for image guided surgery devices for neurosurgery is expected to increase at 6.5% CAGR between 2021 and 2031.
Application of image guided surgery devices will rise in the treatment of neurosurgical disorders. Use of these devices enables improved precision during surgeries, reducing the risk of causing damage to non-surgery areas. Application of image guided surgery devices for oncology and neurosurgery to remain dominant throughout the forecast period.
According to the report, China is expected to register the fastest growth on the back of surging demand for minimally invasive surgical procedures, rising cases of chronic diseases, and increasing government support.
“Rising availability of advanced image guided surgery devices across emerging economies is paving way for the growth of the market. Governments and private organizations alike are investing in modernizing healthcare infrastructure. This is expected to create lucrative opportunities for growth of the market over the coming years,” says the Fact.MR analyst
Key Takeaways from Image Guided Surgery Devices Market Survey
- With increasing prevalence of chronic diseases such as cancer and tumor, rising governmental support, and advancements in medical technology, demand in China is set to expand at a CAGR of 7% through 2031.
- The U.S. market is slated to grow by 6% CAGR between 2021 and 2031, owing to the rising preference for minimally invasive surgical procedures.
- Based on device type, demand for computed tomography (CT) scanners is anticipated to grow at 6.5% CAGR through 2031.
- In terms of application, demand in the oncology segment is expected to grow at 7% CAGR during the forecast period.
Key Drivers
- Increasing prevalence of chronic diseases such as cancer and stroke is augmenting the demand for image guided devices.
- Growing popularity of minimally invasive surgical procedures across the globe will continue to improve the sales of image guided surgery devices.
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Competitive Landscape
Companies operating in the image guided surgery devices market are focusing on launching novel devices, integrated with the latest technologies. They have adopted various growth strategies such as new product launches, acquisitions, collaborations, and partnerships with healthcare and government organizations to expand their global footprint.
- In February 2021, Royal Philips introduced ClarifEye augmented reality surgical navigation, to advance minimally invasive spine procedures in the hybrid operating room. The new solution combines superb 2D and 3D visualizations at low X-ray dose with augmented reality (AR) to provide live intra-operative visual feedback for accurate placement of pedicle screws during spinal fusion procedures.
- In April 2021, Erbe Elektromedizin GmbH announced that it will acquire Maxer Endoscopy. This acquisition will help the company to become a solution provider for surgeries and procedures where visualization is critical.
- In March 2021, GE Healthcare announced 510(K) clearances of OEC 3D, a new surgical imaging system capable of 3D and 2D imaging, from U.S. Food and Drug Administration (FDA).
Some of the prominent players operating in the image guided surgery devices market profiled by Fact.MR are:
- 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.
More Insights on the Global Image Guided Surgery Devices Sales Outlook
Fact.MR offers compelling insights on image guided surgery devices market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study provides incisive coverage on the global demand for image guided surgery devices with a detailed segmentation on the basis of:
Device Type
- Computed Tomography (CT) Scanners
- Ultrasound Systems
- Magnetic Resonance Imaging (MRI)
- Endoscopes
- X-ray Fluoroscopy
- Position Emitted Tomography (PET)
- Single Photon Emission Computed Tomography (SPECT)
Application
- Cardiac Surgery
- Neurosurgery
- Orthopedic Surgery
- Urology
- Gastroenterology
- Oncology Surgery
- Other Applications
End User
- Hospitals
- Ambulatory Surgery Centers
- Clinics
- Research & Academic Institutions
Key Questions Covered in the Image Guided Surgery Devices Market Outlook Report
- The report offers insight into image guided surgery devices demand outlook for 2021-2031
- The market study also highlights projected sales growth for image guided surgery devices market between 2021 and 2031
- Image guided surgery devices market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Image guided surgery devices market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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