Press release
CT Scanners to Hold 1/4th of the Global Image Guided Surgery Devices Market by 2025 | GE Healthcare, Medtronic, Siemens Healthineers
With the growing incidences of chronic conditions such as neurological disorders, cancer and other life-threatening diseases, the image guided surgery devices market is set to gain traction.Click here to Get Complete Synopsis of the Report - https://www.factmr.com/report/4814/image-guided-surgery-devices-market
The market is anticipated to expand at a healthy CAGR of 6.0% across the forecast period (2020-2025). This growth is attributed to a burgeoning preference for minimally invasive surgical procedures which are expected to generate better clinical outcomes.
In addition, there are a growing number of partnerships between public and private entities to further research on image guided surgery devices and implement the same in different healthcare settings.
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Based on these trends, the global image guided surgery devices market is prophesied to accelerate and enjoy a robust growth rate. However, the onset of the COVID-19 pandemic shall hamper growth prospects, owing to deferment of elective surgical procedures in favor of addressing the immediate healthcare needs of COVID-19 patients.
Key Takeaways of Global Image Guided Surgery Devices Market Study:
• By device type, CT scanners shall capture a major chunk of the market, amounting for more than one-fourth, while MRI devices are anticipated to account for more than 20% of the market. Ease of needle positioning and catheters shall facilitate increasing adoption of CT scanning while easy distinction between normal and malignant tissues shall drive the MRI segment.
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• By application, neurosurgeries shall dominate the market, capturing nearly 30% of the share while oncology is anticipated to surpass neurosurgeries in terms of growth, expanding at a CAGR of 7.0%. This is attributed to rising prevalence of cancers and advancements in cancer detection systems.
• By end-user, the clinics segment shall grow the fastest, recording a 7.1% CAGR across the forecast period. Rising number of specialty clinics to perform minimally invasive procedures for detection of diseases is anticipated to steer the growth of this segment.
• By region, North America shall retain its dominance in the market. The region shall account for more than 2/5th of the global image guided surgery devices market share. However, the Asia-Pacific is anticipated to outdo North America, expanding at a CAGR of 7.0%. Increasing population pool with chronic and infectious diseases has leveraged demand for minimally invasive procedures within Asia-Pacific.
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“The global image guided surgery devices market is poised to register positive growth, attributed to rising preference for minimally invasive surgeries over open surgery. As a result of this increased acceptance, technological innovations in image capturing have occurred. Moreover, market players are concentrating on capturing lucrative markets to maximize their revenue,” concludes a Fact.MR analyst.
Global Guided Surgery Devices Market Competition Landscape:
The global image guided surgery devices market is highly consolidated, with the top four market players accounting for over 70% market share. GE Healthcare, Medtronic, Siemens Healthineers and Koninklijke Philips N.V. are the key market players. GE Healthcare is the leader in the image guided surgery devices market, producing a range of dedicated systems for image guided surgeries such as Innova and Optima image guided surgery product series.
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Medtronic accounts for the second largest share, attributed to preference of healthcare providers for its O-ARM and StealthStation product portfolio. A strong focus on organic growth strategies through expansion of business units is important for the abovementioned market players to consolidate their foothold in the market. For instance, in April 2017, GE Healthcare signed an agreement with HealthTrust to provide low energy (SPECT) and high energy (PET) radiopharmaceuticals to the latter across the U.S.
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