With the growing incidences of chronic conditions such as neurological disorders, cancer and other life-threatening diseases, the image guided surgery devices market is set to gain traction. The market is anticipated to expand at a healthy CAGR of 6.0% across the forecast period (2020-2025). This growth is attributed to a burgeoning preference for minimally invasive surgical procedures which are expected to generate better clinical outcomes.
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Key Takeaways of Global Image Guided Surgery Devices Market Study:
- By device type, CT scanners shall capture a major chunk of the market, amounting for more than one-fourth, while MRI devices are anticipated to account for more than 20% of the market. Ease of needle positioning and catheters shall facilitate increasing adoption of CT scanning while easy distinction between normal and malignant tissues shall drive the MRI segment.
- By application, neurosurgeries shall dominate the market, capturing nearly 30% of the share while oncology is anticipated to surpass neurosurgeries in terms of growth, expanding at a CAGR of 7.0%. This is attributed to rising prevalence of cancers and advancements in cancer detection systems.
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- By end-user, the clinics segment shall grow the fastest, recording a 7.1% CAGR across the forecast period. Rising number of specialty clinics to perform minimally invasive procedures for detection of diseases is anticipated to steer the growth of this segment.
- By region, North America shall retain its dominance in the market. The region shall account for more than 2/5th of the global image guided surgery devices market share. However, the Asia-Pacific is anticipated to outdo North America, expanding at a CAGR of 7.0%. Increasing population pool with chronic and infectious diseases has leveraged demand for minimally invasive procedures within Asia-Pacific.
Global Image Guided Surgery Devices: Market Segmentation
Fact.MR has studied the global image guided surgery devices market with detailed segmentation on the basis of device type, application, end-user and region.
|Computed Tomography (CT) Scanners||Cardiac Surgery||Hospitals||North America|
|Ultrasound Systems||Neurosurgery||Ambulatory Surgical Centers||Europe|
|Magnetic Resonance Imaging (MRI)||Orthopedic Surgery||Clinics||Asia Pacific|
|Endoscopes||Urology||Research & Academic Institutions||Eastern Europe|
|X-ray Fluoroscopy||Gastroenterology||Latin America|
|Position Emitted Tomography (PET)||Oncology Surgery||Middle East & Africa (MEA)|
|Single Photon Emission Computed Tomography (SPECT)||Others|
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Global Guided Surgery Devices Market Competition Landscape:
The global image guided surgery devices market is highly consolidated, with the top four market players accounting for over 70% market share. GE Healthcare, Medtronic, Siemens Healthineers and Koninklijke Philips N.V. are the key market players. GE Healthcare is the leader in the image guided surgery devices market, producing a range of dedicated systems for image guided surgeries such as Innova and Optima image guided surgery product series.
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