Image Guided Surgery Devices Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2027, at CAGR of XX% during forecast period of 2019 to 2027.
Image Guided Surgery Devices Market
Image Guided Surgery Devices Market Drivers and Restrains:
Conventional surgery is time consuming and less accurate, with the risk of hazards to close nonsurgical areas involved. Image-guided surgery devices are used for guiding surgeons during the surgical practices. It enhances accuracy during the surgery, decreases procedure time, and reduces complexity. Thus, demand for image guided surgical procedures is increasing rapidly across the global.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Different products such as x-ray fluoroscopy, computed tomography, single-photon emission computed tomography, magnetic resonance imaging, and ultrasound are majorly contributing to the image-guided surgery devices market size. The market has witnessed significant demand for computed tomography over the last five decades and it is used for diagnosing vascular diseases, cancer, and skeletal abnormalities.
The image guided surgery devices market has driven by advancements in imaging technologies, rise in preference for minimally invasive surgeries over open surgery, Increase in cases of neurological disorders, cancer, and other life threatening diseases. Collaboration between private and public sectors for deployment of image guided surgery devices are also driving the image guided surgery devices market globally.
High cost of image guided surgery devices and Lack of skilled professionals are hampering the market growth at global level. Use of image-guided surgeries for broader application areas, development of cost effective & innovative products to increase the adoption in small/medium hospitals and clinics, these factors are provided to lucrative opportunity in the image guided surgery devices market.
Image Guided Surgery Devices Market Segmentation Analysis:
On the basis of device type, the image guided surgery devices market is segmented into ultrasound systems, magnetic resonance imaging, computed tomography scanners, endoscope, x-ray fluoroscopy, positron emission tomography, single photon emission computed tomography. The computed tomography scanners segment held the largest market share in 2018. Computed tomography scanners have wide applications for tumor detection to imaging of soft tissue structures like fat, lung and liver tissues. Furthermore, turnaround time of computed tomography scanners is much smaller, which is valuable for critical and complicated surgeries.
Based on the application, the image guided surgery devices market has been divided into neurosurgery, orthopedic surgery, cardiac surgery, urology, gastroenterology, and oncology surgery. The orthopedic surgery segment is expected to grow at the largest CAGR of XX% during the forecast period due to expanding the geriatric population, and mounting occurrence of road accidents. For instance, Study of the Association for Safe International Road Travel (ASIRT), nearby XX million to XX million people are disabled or injured by road accidents globally each year. The demand for orthopedic surgeries with image guided technology is expected to increase in the upcoming period because of the maximum number of road accidents. The neurosurgery application segment is accounted the dominant market share in 2018 owing to an upsurge in the precision of the operating procedure, the mounting occurrence of neurological disorder and diseases, and minimum risk of hazards to nonsurgical site in the brain.
Image Guided Surgery Devices Market Regional Analysis:
Geographically, the image guided surgery devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the largest market share in 2018 due to the presence of a large number of industry players and has a high frequency of acceptance of innovative technologies. High health care expenditure, reimbursement coverage, and availability of skilled health care professionals to perform technically advanced surgeries are driving the market growth in North America. The market in Asia Pacific is expected to expand at a high CAGR of XX% during the forecast period due to the rapidly growing medical tourism industry and the availability of better health care facilities. Government initiatives to support the growth of the health care industry and rising disposable income are some of the major factors fueling the market growth in Asia Pacific. In Latin America, the image-guided surgery devices market is projected to offering significant growth opportunities because of the existence of regulatory framework and increasing awareness about the benefits of image guided surgeries.
A report cover the recent development in market for the image guided surgery devices market like, In June 2018, Royal Philips acquired EPD Solutions, to improve its product portfolio of image-guided procedures for cardiac arrhythmias.
Image Guided Surgery Devices Market Competitive landscape
Major Key players operating in this market are GE Healthcare, Siemens Healthineers, Olympus Corporation, Medtronic, Koninklijke Philips N.V., Analogic Corporation. Manufacturers in the image guided surgery devices are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.
The objective of the report is to present comprehensive analysis of image guided surgery devices market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding image guided surgery devices market dynamics, structure by analyzing the market segments, and project the image guided surgery devices market size. Clear representation of competitive analysis of key players by device type, price, financial position, product portfolio, growth strategies, and regional presence in the image guided surgery devices market make the report investor’s guide.
Scope of the Image Guided Surgery Devices Market:
Image Guided Surgery Devices Market, by Device type:
• Ultrasound Systems
• Magnetic Resonance Imaging
• Computed Tomography Scanners
• X-ray Fluoroscopy
• Positron Emission Tomography
• Single Photon Emission Computed Tomography
Image Guided Surgery Devices Market, by Application:
• Orthopedic Surgery
• Cardiac Surgery
• Oncology Surgery
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