Image Guided Surgery Devices Market Estimated to Expand at a Robust CAGR by 2025
The drive for accuracy, expandability, and convenience in surgical navigation systems is a key factor creating new avenues in the image guided surgery devices market. Clinical relevance of these surgery devices in oncologic surgery has been growing, particularly due to their effectiveness in visualizing microscopic tumors. Among various product types, revenues generated from computed tomography scanners are prominent. Rising application can be attributed to their use in imaging soft tissue structures.
Adoption of Non-Invasive Imaging Modality in Neurosurgery Opens New Avenues
Among the various key application surgical areas, the image guided surgery devices market is reaping large gains from the neurosurgery segment. The segment has benefitted from the rising adoption in treating metastatic brain tumors. The interest in image guided surgery devices has been fuelled by the vast scope for high-resolution non-invasive imaging modality in neurosurgery. New paradigms in the image guided surgery devices market also stem from the demand for non-invasive imaging modality in orthopedic surgeries. These paradigms are influenced by adoption of new generation of technologies for new treatment modalities.
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A growing number of manufacturers in the image guided surgery devices market are focusing on constantly improving user comfort, visual information resolution, and cost. The constant entry of new players in the image guided surgery devices market has made the market increasingly competitive. According to Transparency Market Research (TMR), the intensity of competition is expected to stay unchanged in the coming years or so. Several players are adopting strategic mergers and acquisition to consolidate their consumer base.
Some of the prominent names in the image guided surgery devices market include Philips (Koninklijke Philips), Analogic Corporation, GE healthcare, Stryker Corporation, Brainlab, and Medtronic.
The global image guided surgery devices market was valued at US$3068.9 mn in 2016. The revenues are expected to climb to US$4998.2 mn by 2025-end. The market is expected to clock at CAGR of 5.7% from 2017 to 2025.
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Next-Generation Intraoperative Ultrasound Technologies Attract Manufacturers
Growing popularity of intraoperative ultrasound technologies in various surgeries is a key factor bolstering prospects in the image guided surgery devices market. Several efforts are being made by device manufacturers to expand the armamentarium of image guided surgery technologies by adopting augmented reality and display technologies. Growing shift toward adopting new robotics technologies is cementing potential in the image guided surgery devices market.
Growing adoption of pre- and intraoperative imaging technologies in surgeries has been key generator of revenues in the global image guided surgery devices market. Increasing trend of neuro-navigation in the surgical areas in several healthcare systems has further bolstered prospects over the past few years.
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In recent years, researchers have been striving to evaluate the clinical feasibility of new technologies in the image guided surgery devices market. A case in point is PET-guided volumetric resection. This is gaining traction in brain tumor diagnosis. The drive for next-generation molecular imaging neuro-oncology is stimulating innovations in the image guided surgery devices market. This is fuelled largely from growing propensity among patient populations in various parts of the world.
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