Image Guided Surgical Equipment Market Size, Share, Growth, and Industry Analysis, By Type (Computed Tomography Scanners, Ultrasound Systems, Magnetic Resonance Imaging, Endoscope, X-ray Fluoroscopy, Positron Emission Tomography and Others), By Application (Heart Surgery, Neurosurgery, Surgical Oncology and Others), Regional Forecast to 2031

Updated On: 08 April 2024

Image Guided Surgical Equipment Market REPORT OVERVIEW

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global image guided surgical equipment market size was USD 3667.6 million in 2021 and market is projected to touch 5335.93 million by 2031, exhibiting a CAGR of 3.8% during the forecast period.

Conventional surgery is time-consuming and inaccurate, with the danger of hazard to nearby nonsurgical areas. Image-guided surgery technologies are used to guide doctors during surgical procedures. It improves surgical precision, minimises procedure time, and simplifies the procedure. As a result, the global demand for image guided surgical operations is quickly expanding.

Image guided surgical equipment and navigation-assisted surgical equipment are instruments that help surgeons undertake minimally invasive surgical treatments to safeguard patients from the long-term effects of chronic diseases. In circumstances of surgical demands for heart difficulties, trauma, or emergent cases, these devices serve a crucial role in preserving patients' lives. Image-guided surgery equipment and navigation-assisted surgical equipment are regulated by regulatory agencies since they are equipped with AI technology and raise a number of social and ethical concerns. These technologies help with technical aspects of surgical procedures and can also be used to execute proper surgery.

COVID-19 Impact: The Surgical and Pharmaceuticals Benefits Among Consumers to Increase Market Demand

The COVID-19 outbreak caused slow growth in several industries and companies. As the number of COVID-19 cases dramatically increased, numerous countries adopted restrictions to contain the new virus. The demand for the guidewires was also damaged by the pandemic. Consumers are becoming more aware of the detrimental effects of artificial additives, which has led them to choose natural products. The therapy is increasingly in demand. Previously, it was thought of as a complimentary therapy, but it is now seen as a mainstream treatment. The image guided surgical equipment market growth is probably being driven by the rising demand for organic products.

LATEST TRENDS

"The Procedure Innovation and the Technological Advancements to Expand the Market Share"

During an operation, surgeons make decisions based on their knowledge, training, and senses of touch and sight. Surgeons today have access to advanced equipment that allows them to see things that they previously could not. Fluorescence guided surgery allows surgeons to make more informed decisions, resulting in increased safety, more accurate treatments, and better outcomes. Surgeons have coined the term "The GPS of Surgery" to describe this breakthrough. The International Society for Fluorescence Guided Surgery (ISFGS) is dedicated to teaching patients and healthcare professionals about fluorescence guided surgery, a rapidly emerging field. This will help in identifying a fluorescence guided surgical surgeon and knowing how this technology works.

Image Guided Surgical Equipment Market SEGMENTATION

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• By Type

Based on type; the image guided surgical equipment market is divided into computed tomography scanners, ultrasound systems, magnetic resonance imaging, endoscope, x-ray fluoroscopy, positron emission tomography and others.

• By Application

Based on the application; the image guided surgical equipment market is divided into heart surgery, neurosurgery, surgical oncology and others.

DRIVING FACTORS

"Rising Stereotactic Radiosurgery to Uplift the Market Demand"

Surgery should always be considered alongside alternative therapeutic options. When surgery is not required owing to tumor-related symptoms, the decision between surgery and stereotactic radiosurgery (SRS) is mostly a matter of patient preference, access to SRS, and insurance coverage. SRS is being requested by a growing number of patients. As one of the most advanced cancer therapy methods, SRS is transforming the face of cancer treatment. While facing cancer, SRS has already allowed thousands of patients to continue working, spending time with family and friends, and engaging in their favourite hobbies. These are the driving forces behind image guided surgical equipment market expansion.

"The Applications in the Hospital and Ambulatory Surgical Centres to Drive the Market Growth"

Surgeons use image-guided and navigation-assisted surgical tools to undertake minimally invasive surgical operations that safeguard patients from the long-term impact of chronic diseases. These devices are crucial in saving patients' lives in cases of heart surgery, trauma, and emergency situations. Image-guided surgery equipment and navigation-assisted surgical equipment are regulated by regulatory agencies since they are equipped with AI technology and raise a number of social and ethical considerations. These instruments assist with the technical parts of surgical procedures and can also be utilised to execute proper surgery. These are some of the variables that contribute to market growth.

RESTRAINING FACTORS

"The High Cost Associated with the Surgical Equipments to Restrain the Market Growth"

Expensive photograph Images-guided surgery equipment and robot-assisted surgical equipment are predicted to reduce the requirement for image guided surgical equipment and robot-assisted surgical equipment, hampered market growth for these goods throughout the forecast period. There is no denying that robotic surgery is costly. Surgical robots are costly to purchase and maintain, therefore this form of surgery technology may raise the cost of a surgical treatment. Their operation will also demand more training, which will be pricey. Robotic surgery typically costs between USD 3000 and USD 6000 more than traditional surgery.

Image Guided Surgical Equipment Market REGIONAL INSIGHTS

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"North American Region to Lead the Market with Rising Prevalence of Target Diseases"

Because of the existence of a large number of industry participants and a high frequency of acceptance of breakthrough technologies, North America held the greatest image guided surgical equipment market share in 2021. The availability of competent health care professionals to execute technically advanced surgeries, as well as high health care expenditure and reimbursement coverage, are driving image guided surgical equipment market growth in North America.

KEY INDUSTRY PLAYERS

"Key Industry Players to Promote the Market Expansion"

The market's expansion was significantly impacted by the techniques employed by market participants in recent years, such as extensions. The report covers details and information about the firms and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other considerations taken into account for this market are the businesses that develop and provide new products, the geographic areas in which they function, mechanization, innovation strategies, generating the maximum revenue, and using their products to make a significant difference.

List of Market Players Profiled

• Brainlab (Germany)
•  General Electric (U.S.A)
• Medrobotics Corporation (U.S.A)
• Medion (Germany)
• Stereotaxis, Inc. (U.S.A)
• Titan Medical Inc. (Canada)
• PS-Medtech (Netherlands)
• Renishaw plc. (U.K.)
• Intuitive Surgical (U.S.A)
• Zimmer Biomet (U.S.A)
• Siemens Healthcare GmbH (Germany)
• Medtronic (Ireland)
• Hitachi Ltd. (Japan)
• Integra LifeSciences (U.S.A)
• Smith+ Nephew (U.K.)
• Koniklijke Philips N.V. (Netherlands)
• ICU Medical, Inc (U.S.A)
• Stryker (U.S.A)
• Johnson & Johnson Services, Inc. (U.S.A).

REPORT COVERAGE

This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching of recent industry developments, deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.