According to a new market research report “Global Image Guided Surgery Devices Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insight by Device Type (CT, Ultrasound, MRI, X-Ray Fluoroscopy, Endoscopes, PET and SPECT), by Application (Neurology, Orthopedic Surgery, ENT Surgery, Oncology Surgery and Others)” published by P&S Market Research, the global image guided surgery devices market is expected to grow at a CAGR of 6.5%, during 2017 - 2023.
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Increasing cases of neurological disorders drive the global market
According to the study, the global image guided surgery devices market is likely to grow significantly during the forecast period, due to increasing prevalence of chronic diseases, and cancer, rising geriatric population and increasing cases of neurological disorders. In addition to these factors, rising healthcare expenditure and technological advancements in medical imaging also contributes to the growth of the overall market. High cost of imaging techniques and stringent regulatory requirements are some of the key factors restraining the global market growth.
Insights on market segments
As per the findings of the research, the CT is the largest segment, based on device type, in the global image guided surgery devices market. CT is a non-invasive, accurate and fast diagnostic imaging test. It uses x-ray equipment to produce 3D images by taking series of images from different angles. Each image created during the CT procedure shows the bones, tissues and organs in a thin “slice” of the body.
It provides cross-sectional images generated during the CT scan and can be reformatted in multiple planes. It is used for diagnosing skeletal abnormalities, blood clots, blood vessel aneurysm and cancer. Neurology has been the largest application area for image guided surgery devices, followed by orthopedic surgery, ENT surgery, oncology surgery and others.
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North America stands as the largest image guided surgery devices market
Geographically, North America has been the largest market for image guided surgery devices, with the U.S. being the larger contributor to the regional market. Increasing prevalence of neurological disorders, rising geriatric population and adoption of technological advanced imaging techniques are some of the factors that have been driving the growth of the North America image guided surgery devices market. The U.K. has been the largest contributor to the European market for image guided surgery devices, followed by Germany and France. The market is expected to witness the fastest growth in Asia-Pacific, during 2017 - 2023, owing to increasing cases of cancer, arthritis, neurological disorders and rising geriatric population.
Key players in the image guided surgery devices market
Some of the key players in the global image guided surgery devices market include Siemens AG, GE Healthcare, Koninklijke Philips N.V., Canon Inc., Hitachi, Ltd., KARL STORZ GmbH & Co. KG., Medtronic, Inc., St. Jude Medical, Inc., Varian Medical Systems, Inc., Smith & Nephew plc, Integra LifeSciences Corporation and Zimmer Holdings, Inc.
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