Surgical Imaging Market to Witness Massive Growth by – Canon Medical Systems Corporation, GE Healthcare, GENORAY Co. Ltd.

Global Surgical Imaging Market size was valued at USD 1.16 billion in 2020 and is predicted to reach USD 1.71 billion by 2030 with a CAGR of 3.9% from 2021-2030.

Surgical imaging is an optical imaging technology mainly used for image-guided surgery. It includes various tools for planning, diagnosis, computed tomography (CT), magnetic resonance Imaging (MRI), MR therapy (MRT), fluoroscopy, and ultrasound among others. These equipment allow surgeons to complete surgeries with precision and ease. Surgical imaging is generally used in minimally invasive procedures to have a proper look of the surgical site and carry out the whole procedure successfully without completely opening the surgical site. It is mostly used in the orthopedics, neurology, cardiology and other surgeries.

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Top Companies: Canon Medical Systems Corporation, GE Healthcare, GENORAY Co. Ltd., Hologic Inc., Koninklijke Philips N.V., Medtronic Plc., SHIMADZU Corporation, Siemens, Whale Imaging Inc., and Ziehm Imaging GmbH

Market Dynamics and Trends:

The major factors driving the growth of surgical imaging market include the increasing popularity of flat panel detector (FPD) over image intensifiers, reduction in reimbursements for analogy radiography systems, and the growing demand for minimally invasive surgery. The C-arms' evolution from traditional X-ray image enhancement technology to flat panel digital detectors (FPD) has led to major advances in surgical imaging industry. If compared with image intensifiers, FPD has many advantages, such as compact size and reduced radiation dose. Although the resolution varies from model to model, FPD can generate more consistent high-quality digital images. Moreover, technologically advanced surgical imaging systems have been introduced and implemented in healthcare institutions to bring various benefits. For instance, in August 2019, Mercy Medical Centre implemented a multi-dimensional imaging platform that can be used for cranial, spine and trauma-related surgeries.

However, it is estimated that the high cost of these system will hamper the growth of this market during the forecast period. On the other hand, growing number of patients have led to the rising number of surgical centres and hospitals in the emerging economies, which in turn is expected to create lucrative opportunities for the market players in the coming years.

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Market Segmentations and Scope of the Study:

The global surgical imaging market is segmented on the basis of modality type, technology, application, and geography. Based on modality type, the market has been segmented into mobile c-arms, mini c-arms, and others. Based on technology, the market has been segmented into image intensifier, and flat panel detector (FPD). Based on application, the market is divided into neurosurgery, orthopedic & trauma surgery, cardiovascular surgery, general surgery, other surgeries. Based on geography, the market is divided into North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

North America holds the lion share of surgical imaging devices market during the forecast period. This is attributed to factors such as increase in the number of sports injuries, increasing prevalence of chronic and genetic diseases. For instance, according to American Heart Association, almost 40,000 infants are expected to be affected by congenital heart defects each year in the United States. Among these, approximately 25% or 2.4 per 1000 live births require invasive treatment in the first year of life. Also, favourable government policies that support the purchase of advanced surgical imaging equipment and reimbursements is driving the surgical imaging market growth in this region.

However, Asia-Pacific is expected to show a steady rise in surgical imaging market. This is attributed to factors such as high population base, and growing demand from key markets such as Japan, China, and India. Also, few other factors contributing to the growth of the market include the low cost of medical procedures and improvements in the medical infrastructure in these countries. For instance, the cost of hip replacement surgery in India is $6,000 to $7,000, while the cost of the same surgery in the United States is $45,000 to $50,000. In such circumstances, surgical imaging systems are expected to play an important role in effectively managing the growing number of patients in these countries, thus creating potential opportunities for market growth. Moreover, the increasing number of cancer patients, and the existence of a loose regulatory environment are encouraging participants in the surgical imaging market to increase their business in emerging countries.

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