Report Overview

According to the deep-dive market assessment study by Growth Plus Reports, the global image guided surgery market was valued at US$ 4.5 billion in 2021 and is expected to register a revenue CAGR of 5.3% to reach US$ 7.5 billion by 2030.

Image Guided Surgery Market Fundamentals 

Image-guided surgery technologies provide real-time monitoring during surgery, allowing healthcare practitioners to reduce procedure time and errors. These surgical technologies have transformed traditional surgical approaches by offering a precise treatment guiding system that can assist assure the protection of important structures while achieving the best possible outcome for patients. Image-guided procedures could use various equipment, including endoscopes, ultrasound, and MRI. Furthermore, image-guided surgery equipment aids in the diagnosis and treatment of a wide range of illnesses. Image-guided surgical technology enables more precise and successful surgery. Although endoscopic sinus surgery (ESS) was created for neurosurgery, it swiftly rose to the top of its applications. Image-guided surgery has been one of the most significant advances in endoscopic sinus surgery since the commencement of the endoscopic approach.

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Image Guided Surgery Market Dynamics 

The primary factors propelling the global market revenue growth include the aging population, a shift toward minimally invasive surgeries, and technological developments in imaging equipment. The rising prevalence of chronic diseases, such as cancer, combined with increased efforts for cancer radiation, is also boosting the market revenue growth. For instance, GLOBOCAN estimated around 19,292,789 new cancer cases worldwide in 2020. During the COVID-19 crisis, industry participants focused on developing remote solutions, such as cloud-based training on virtual computers, to provide remote guidance and support to patients.

Image Guided Surgery Market Ecosystem 

The global image guided surgery market has been analyzed from four perspectives: product, application, end user, and region.

Image Guided Surgery Market by Product

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Based on the product, the global image guided surgery market has been segmented into computed tomography scanners, ultrasound systems, magnetic resonance imaging, endoscope, x-ray fluoroscopy, positron emission tomography, and single photon emission computed tomography.

The endoscope segment dominates the market owing to technological improvements in endoscopy and subsequent product introductions. However, the magnetic resonance imaging segment is expected to be the fastest-growing segment during the forecast period. The primary elements driving segment revenue growth include technological advancements and the broad application scope of these therapies in treatment planning, location and delivery, and treatment response assessment.

Image Guided Surgery Market by Application 

Based on the application, the global image guided surgery market has been segmented into cardiac surgery, neurosurgery, orthopedic surgery, urology, oncology surgery, gastroenterology, and others.

The cardiac surgery segment dominated the market during the forecast period. Cardiovascular diseases (CVDs) are the leading cause of death worldwide. The key driver of the segment’s growth is increasing number of the elderly population, paired with the prevalence of various disorders. Numerous research efforts to develop real-time cardiac therapies are also helping to grow the industry. 

Neurosurgery is the fastest-growing segment due to the rising number of accidents and trauma cases and increasing incidence of neurological disorders. The segment’s growth is also being supported by increased collaboration among major corporations to develop innovative image-guided treatment systems.

Image Guided Surgery Market by End User

Based on the end user, the global image guided surgery market has been segmented into hospitals, ambulatory surgical centers, specialty clinics, and research & academic institutions. The hospital segment is expected to dominate the market during the forecast period. The two primary forces propelling the category are the rise in varied treatments and the widespread usage of image-guided therapy systems in hospitals. Hospitals are deploying these technologies in response to the increased demand for clinical workflows to be optimized cost-effectively.

Image Guided Surgery Market by Region 

Based on the region, the global image guided surgery market has been segmented into North America, Europe, Asia Pacific, Rest of the World.

North America and Europe are expected to register the fastest revenue growth during the forecast period. Furthermore, rising neurological illnesses, rising demand for minimally invasive surgeries, expanding healthcare awareness, growing older population, and rising healthcare spending contribute to the market's rise in these regions. Moreover, Asia Pacific is expected to register revenue growth at the fastest CAGR during the forecast period, owing to a rise in the aging population, increase in instances of target diseases, and improved healthcare infrastructure in the region. A growing number of research institutions in regional nations, such as India and China, are boosting the market revenue growth.

Image Guided Surgery Market Competitive Landscape 

The prominent market players in the global image guided surgery market include:

• 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.

Image Guided Surgery Market Strategic Developments 

• In April 2021, Erbe Elektromedizin GmbH announced the acquisition of Maxer Endoscopy. This acquisition was expected to assist the company in becoming a solution provider for operations and treatments requiring crucial vision.
• In March 2021, GE Healthcare received 510(K) clearances from the U.S. Food and Drug Administration (FDA) for OEC 3D, a revolutionary surgical imaging system capable of 3D and 2D imaging.
• In February 2021, the ClarifEye augmented reality surgical navigation was introduced by Royal Philips to promote minimally invasive spine surgeries in the hybrid operating room. The innovative system combines excellent 2D and 3D visualizations with reduced X-ray doses with augmented reality (AR) to deliver live intra-operative visual feedback for correct pedicle screw insertion during spinal fusion surgeries.

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