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Global Image Guided Therapy Systems Market By Product Type (Computed Tomography (CT) Scanners, Ultrasound Systems), By Application (Cardiac Surgery, Neurosurgery), By Geographic Scope and Forecast


Published on: 2024-08-08 | No of Pages : 320 | Industry : latest updates trending Report

Publisher : MIR | Format : PDF&Excel

Global Image Guided Therapy Systems Market By Product Type (Computed Tomography (CT) Scanners, Ultrasound Systems), By Application (Cardiac Surgery, Neurosurgery), By Geographic Scope and Forecast

Image-Guided Therapy Systems Market Size And Forecast

Image-Guided Therapy Systems Market size was valued at USD 4.64 Billion in 2024 and is projected to reach USD 7.82 Billion by 2031, growing at a CAGR of 6.73% during the forecast period 2024-2031.

  • Image Guided Therapy Systems (IGTS) are innovative medical technologies that combine real-time imaging techniques with therapeutic procedures to provide precise visualization and navigation during surgical interventions.
  • These systems combine imaging modalities (CT, MRI, ultrasound, and fluoroscopy) with surgical equipment to allow for minimally invasive procedures and targeted therapies. IGTS has applications in a variety of medical domains, including oncology, neurology, cardiology, and orthopedics, where precise visualization is required for accurate diagnosis, treatment planning, and therapeutic delivery.
  • The future of IGTS lies in the continuing progress of imaging technologies, software integration for real-time data processing, and robotics for improved surgical precision. These technologies aim to further enhance patient outcomes, reduce procedural risks, and broaden the variety of accessible minimally invasive procedures healthcare providers globally.

Global Image Guided Therapy Systems Market Dynamics

The key market dynamics that are shaping the global image guided therapy systems market include

Key Market Drivers

  • Technological Advancements Continuous improvements in imaging technologies such as MRI, CT, ultrasound, and PET/CT scanners improve IGTS’s accuracy and real-time visualization. Advanced software algorithms and interaction with robotics enhance surgical precision.
  • Rising Prevalence of Chronic DiseasesThe rising prevalence of chronic diseases such as cancer, cardiovascular ailments, and neurological issues is driving demand for IGTS. These technologies offer early diagnosis, accurate treatment planning, and targeted medicines, which improve patient outcomes while lowering healthcare expenditures.
  • A Shift toward Minimally Invasive SurgeriesThe growing inclination for minimally invasive procedures, owing to benefits such as faster recovery times, fewer post-operative problems, and lower healthcare costs, drives the adoption of IGTS. These technologies provide accurate navigation and intervention, increasing the feasibility and efficacy of minimally invasive therapies.
  • Expanding Aging Population As the world’s population ages, the prevalence of age-related diseases and ailments requiring surgical procedures rises. IGTS promote personalized therapy approaches that are adapted to individual patient needs, addressing the unique problems offered by aging-related health conditions.

Key Challenges

  • High Equipment and Maintenance Costs The initial investment and ongoing maintenance costs associated with IGTS, which include hardware, software upgrades, and specialized training for healthcare professionals, present financial challenges for healthcare facilities, especially in resource-constrained settings.
  • Complex Regulatory LandscapeNew IGTS technologies take longer to reach the market due to stringent regulatory constraints and differing approval processes across regions. Compliance with changing standards and laws involves substantial investments in research, development, and regulatory affairs.
  • Integration and Interoperability IssuesCompatibility issues exist between IGTS systems and existing hospital infrastructure, such as electronic health records (EHRs) and other medical devices, preventing smooth integration. Interoperability gaps can jeopardize process efficiency and data interoperability, reducing overall system effectiveness.
  • Concerns about Radiation Exposure Despite advances in imaging technologies aimed at reducing radiation exposure, worries remain about the possible health risks associated with repeated exposure to ionizing radiation during image-guided procedures. Addressing these concerns necessitates continuous improvements in radiation safety standards and patient monitoring systems.

Key Trends

  • Personalized Medicine and Treatment Planning IGTS promotes personalized treatment approaches by allowing for tailored treatment planning based on unique patient anatomy and illness features. Improved patient-specific imaging and navigation capabilities enable more precise treatment delivery and monitoring.
  • Integration of Robotics and Navigation SystemsThe incorporation of robotic-assisted surgical systems and navigation technologies into IGTS improves procedural accuracy and surgical precision. Robotics provide minimally invasive operations with greater dexterity and precision, broadening the spectrum of IGTS applications across multiple medical professions.
  • Imaging Technology Advancements Imaging modalities such as MRI, CT, ultrasound, and PET/CT scanners continue to improve image resolution, real-time viewing, and diagnostic accuracy. Integration with artificial intelligence (AI) and machine learning algorithms enhances visual interpretation and decision-making help.
  • Rise in Minimally Invasive Procedures As people seek less invasive surgeries, demand for IGTS is increasing. These technologies offer precise navigation and focused interventions, which reduce patient recovery periods, post-operative problems, and healthcare expenditures.

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Global Image Guided Therapy Systems Market Regional Analysis

Here is a more detailed regional analysis of the global image guided therapy systems market

North America

  • North America dominates the image guided therapy systems (IGTS) industry, driven by a remarkable convergence of variables. The region has a well-established healthcare infrastructure, including cutting-edge medical institutions outfitted with modern IGTS technology.
  • This promotes a culture of early adoption of these novel treatment options. Furthermore, a supportive regulatory framework promotes the rapid and efficient approval of new IGTS devices, ensuring that patients have access to the most recent innovations.
  • North America also has a high incidence of chronic ailments like cardiovascular disease, cancer, and neurological problems. This creates a strong demand for minimally invasive and precise treatment solutions, which IGTS excels in providing. The capacity of IGTS to decrease patient trauma, reduce recovery times, and improve treatment outcomes makes it an extremely appealing concept for both patients and healthcare professionals.
  • Furthermore, significant investments in research and development (R&D) by both public and private entities support ongoing innovation in the IGTS sector.
  • The existence of major IGTS manufacturers in North America creates a dynamic and competitive environment in which businesses compete for market share by developing next-generation technology. This steady stream of innovations keeps North America at the forefront of IGTS development and implementation.

Asia Pacific

  • Asia Pacific is the most rapidly expanding area in the image guided therapy systems (IGTS) industry.
  • This rapid development is being driven by a number of factors, including an expanding population, an increasing prevalence of chronic diseases, and rising healthcare costs. Countries such as China and India are making major expenditures in healthcare infrastructure, resulting in increased use of innovative medical technology such as IGTS.
  • Furthermore, the region’s growing senior population, combined with increased disposable expenditures, is driving demand for less invasive operations enabled by IGTS. Furthermore, favorable government initiatives and increased healthcare awareness are driving market expansion in the region.

Global Image-Guided Therapy Systems MarketSegmentation Analysis

The Global Image-Guided Therapy Systems Market is segmented on the basis of Product Type, Application, and Geography.

Global Image Guided Therapy Systems Market, By Product Type

  • Computed Tomography (CT) Scanners
  • Ultrasound Systems

Based on Product Type, the Global Image Guided Therapy Systems Market is segmented into Computed Tomography (CT) Scanners, and Ultrasound Systems. Computed Tomography (CT) Scanners dominate the market due to their broad use in diagnostic imaging and therapeutic applications across multiple medical specialties. Ultrasound Systems are the fastest-growing category, thanks to technical improvements that provide more precise imaging capabilities, portable alternatives for point-of-care applications, and global usage in diagnostic and therapeutic treatments.

Global Image Guided Therapy Systems Market, By Application

  • Cardiac Surgery
  • Neurosurgery

Based on Application, the Global Image Guided Therapy Systems market is segmented into Cardiac Surgery and Neurosurgery. Cardiac Surgery is the leading segment because to the rising global prevalence of cardiovascular disorders and advances in image-guided procedures that improve surgical precision and patient outcomes. Neurosurgery is the fastest-growing area, owing to rising prevalence of neurological illnesses, technical breakthroughs in imaging modalities, and increased demand for minimally invasive surgical methods in neurosurgical treatments.

Global Image Guided Therapy Systems Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

On the basis of Geography, the Global Image Guided Therapy Systems market are classified into North America, Europe, Asia Pacific, and Rest of World. North America is the dominant region due to its excellent healthcare infrastructure and high adoption rates of advanced medical technologies. Asia Pacific has been highlighted as the fastest-growing region, driven by increased healthcare investments, rising disposable incomes, and greater access to healthcare services in emerging economies.

Key Players

The “Global Image Guided Therapy Systems Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Koninklijke Philips N.V., Medtronic, Siemens Healthineers, Analogic Corporation, GE Healthcare.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Global Image Guided Therapy Systems MarketRecent Developments

  • In November 2023, GE Healthcare has struck a strategic agreement with HeartVista to incorporate AI-driven cardiac MRI protocols into GE’s MR equipment. This cooperation seeks to streamline cardiac MRI workflows and increase access to these difficult treatments.
  • In February 2024, Canon Medical Systems has announced an expansion of its AI-powered image analysis capabilities for interventional treatments. These new services are aimed at boosting workflow efficiency and decision assistance during image-guided treatments.
  • In September 2023, Philips has announced its latest Azurion image-guided therapy platform, which has enhanced AI-powered image processing and augmented reality features. This technology seeks to increase process efficiency and improve patient outcomes for a variety of minimally invasive treatments.

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2021-2031

BASE YEAR

2024

FORECAST PERIOD

2024-2031

HISTORICAL PERIOD

2021-2023

UNIT

Value (USD Billion)

KEY COMPANIES PROFILED

Koninklijke Philips N.V., Medtronic, Siemens Healthineers, Analogic Corporation, GE Healthcare.

SEGMENTS COVERED
  • By Product Type
  • By Application
  • By Geography
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post sales analyst support

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