Global Image Guided Surgery Devices Market Size By Type, By Application, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Image Guided Surgery Devices Market Size By Type, By Application, By Geographic Scope And Forecast
Image Guided Surgery Devices Market Size And Forecast
Image Guided Surgery Devices Market size was valued at USD 9.05 Billion in 2024 and is projected to reach USD 19.94 Billion by 2031, growing at a CAGR of 11.45% from 2024 to 2031.
Global Image Guided Surgery Devices Market Drivers
The market drivers for the Image Guided Surgery Devices Market can be influenced by various factors. These may include
Technological Developments The accuracy and efficacy of image-guided surgery are improved by ongoing advancements in imaging technologies, including MRI, CT, and ultrasound. The capabilities of these devices are further enhanced by the integration of AI and machine learning, which propels market expansion.
Increasing Prevalence of Chronic Diseases IGS devices are widely utilised in minimally invasive procedures, which are becoming more and more popular due to the growth in chronic ailments like cancer, cardiovascular diseases, and neurological disorders.
Expanding Senior Population As the population ages, there is a greater likelihood of age-related illnesses that call for surgery, which increases the demand for image-guided surgical instruments.
Growing Usage of Less Invasive Surgery The use of image guiding for precision in minimally invasive treatments is becoming more common because of its benefits, which include shorter hospital stays, a shorter recovery period, and a decreased chance of problems.
Development of Healthcare Infrastructure Developing nations’ increased access to sophisticated surgical methods, such as image-guided operations, will spur market expansion.
Government and Private Investments The development and uptake of IGS devices are facilitated by increased financing and investments in cutting-edge surgical technologies and hospital infrastructure.
Clinical Benefits and Patient Outcomes IGS devices are very appealing in surgical settings because of their capacity to enhance overall patient safety, decrease operative time, and improve surgical outcomes.
Programmes for Training and Education An increasing focus on educating surgeons on the use of cutting-edge surgical instruments and technologies promotes the use of IGS devices.
Global Image Guided Surgery Devices Market Restraints
Several factors can act as restraints or challenges for the Image Guided Surgery Devices Market. These may include
High Cost of Equipment and Procedures IGS systems are pricy, and many healthcare practitioners may not be able to afford the expenses involved in purchasing and maintaining these cutting-edge systems. This restricts the use of these gadgets, particularly in underdeveloped areas.
Complexity and Requirement for Skilled Personnel Operating image-guided surgery equipment calls for specific knowledge and experience. The lack of qualified workers capable of managing these intricate systems can impede the expansion of the sector.
Regulatory and Reimbursement Challenges New entrants may find it difficult to get into the market due to the drawn-out and rigorous regulatory approval procedure for IGS devices. The adoption rate may also be impacted by uneven reimbursement guidelines for image-guided surgical procedures.
Technological Restrictions and Integration Problems In spite of developments, it can be difficult to integrate new IGS technologies with current hospital systems. For healthcare facilities, compatibility problems and the requirement for ongoing updates and upgrades can be a turnoff.
Issues with Safety and Accuracy Although IGS systems are intended to improve surgical procedures’ precision, issues with safety and accuracy persist. Patients and surgeons alike may become wary of serious surgical complications that could result from any malfunction or error.
Economic Restrictions in Developing Regions The extensive adoption of pricey medical technologies like IGS devices is hindered in emerging countries by financial restrictions and constrained healthcare budgets. As a result, developed and emerging regions’ market penetration diverges significantly.
Market Saturation in Developed Regions The high IGS device penetration in more developed regions may cause market saturation, which would restrict room for additional expansion. These places may have hospitals and clinics with pre-existing systems, which lowers the need for new installations.
Competition and Rapid Technological Changes The IGS market is characterised by intense competition, as multiple firms vie to introduce state-of-the-art technologies. Quick technical progress can soon make current products outdated, making it difficult for manufacturers to remain competitive and hold onto market share.
Global Image Guided Surgery Devices Market Segmentation Analysis
The Global Image Guided Surgery Devices Market is segmented on the basis of Type, Application, and Geography.
Image Guided Surgery Devices Market, By Type
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Image Guided Surgery Devices Market, By Application
Heart Surgery
Neurosurgery
Surgical Oncology
Based on Application, The market is bifurcated into Heart Surgery, Neurosurgery, and Surgical Oncology. The neurosurgery segment in the global Image Guided Surgery Devices Market is dominating the largest market share and is also expected to grow at the highest CAGR during the forecast period. The increase in demand for image guided surgical equipment for neurosurgery is credited with this segment’s expansion. The increase in surgical precision, the rise in neurological disorders and diseases, and the reduced risk of harm to non-surgical brain regions are other factors driving the segment’s expansion.
Image Guided Surgery Devices Market, By Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
On the basis of Regional Analysis, The Global Image Guided Surgery Devices Market is classified into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Due to the adoption of new technology and the availability of highly qualified professionals to carry out elaborate and sophisticated surgeries, North America holds the largest market share. Additionally, the rising prevalence of neurological disorders, rising demand for minimally invasive surgery, rising healthcare awareness, growing geriatric population, and rising healthcare spending are all contributing to the market’s expansion in these areas.
Key Players
The major players in the Image Guided Surgery Devices Market are
Karl Storz GmbH & Co. KG
Koninklijke Philips N.V.
Medtronic
Siemens Healthineers
General Electric Company
Varian Medical Systems Inc.
Brainlab AG
Quest Photonic Devices (Olympus)
Stryker
Abbott
inomed Medizintechnik GmbH
Accuray Incorporated
medPhoton GmbH
Report Scope
REPORT ATTRIBUTES
DETAILS
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, General Electric Company, Varian Medical Systems, Inc., Brainlab AG, Quest Photonic Devices (Olympus).
Segments Covered
By Type
By Application
By Geography
Customization scope
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