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Image Guided Surgery Devices Market Share, Trend Analysis, Key Drivers, Size And Forecast To 2033
Image Guided Surgery Devices Market Share
According to The Business Research Company's, The image guided surgery devices market size has grown rapidly in recent years. It will grow from $8.23 billion in 2023 to $9.1 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to rising prevalence of chronic diseases, expanding applications, healthcare infrastructure development, increasing awareness among healthcare professionals, regulatory support and approvals.
The image guided surgery devices market size is expected to see rapid growth in the next few years. It will grow to $14.05 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to market expansion in emerging economies, patient preference for minimally invasive procedures, customization and personalization of treatments, global health challenges and preparedness, collaborations and partnerships. Major trends in the forecast period include continued technological innovations, integration with artificial intelligence, technological advancements, global market expansion, increasing adoption of robotics.
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Market Drivers and Trends:
Rising neurological disorders are expected to propel the growth of the image guided surgery devices market going forward. Neurological disorders are disorders and diseases that affect the central and peripheral nervous systems. Image-guided surgery devices are used to perform minimally invasive surgeries to treat neurological conditions such as brain tumors or to conduct brain biopsies. For instance, in May 2022, according to the European Academy of Neurology, an Austria-based non-profit medical society, 1 in 3 people affected by a neurological disease at some point in their life and the number of deaths by neurological conditions has increased by almost 40% in the last 30 years. Furthermore, in May 2022, according to The European Academy of Neurology, a Europe-based non-profit organization, neurological disorder affects 1 in 3 persons at some time in their lives. Therefore, rising neurological disorders are driving the growth of the image guided surgery devices market.
Technological advancements are a key trend in the image guided surgery devices market. Major market players operating in the image guided surgery devices market are concentrating their efforts on introducing new and advanced technologies to strengthen their position in the market. For instance, in March 2022, Siemens Healthineers, a Germany-based medical device company, unveiled the latest innovation, the MAGNETOM Free. Star, and NAEOTOM Alpha. MAGNETOM Free. Star is a helium-free scanner with an ultra-compact footprint that is far easier to install. The device uses the unique and latest technology, the DryCool technology, which simplifies complex MRI technologies and uses digitalization and artificial intelligence (AI) to deliver high-quality results in MRI scans. The NAEOTOM Alpha provides high-resolution images at the lowest dose, spectrum information in every scan, and better contrast at lower noise with the ground-breaking direct signal conversion of its QuantaMax detector. Cardiology, pulmonology, cancer, and emergency medicine diagnostics will develop with the introduction of photon-counting CT toward precise, non-invasive diagnosis.
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Major Key Players of the Market:
General Electric Company; Medtronic Plc.; Olympus Corporation; Siemens Healthineers; Koninklijke Philips N.V.; Brainlab AG; Karl Storz Gmbh & Co. KG; Stryker Corporation; Varian Medical Systems Inc.; Hitachi Medical Corporation; Analogic Corporation; Zimmer Biomet Holdings Inc.; Smith and Nephew Plc; FUJIFILM Holdings Corporation; Shimadzu Corporation; Intuitive Surgical Inc.; Canon Medical Systems Corporation; Synaptive Medical; Sienna Cancer Diagnostics; Accuray Incorporated; ClaroNav Inc.; PathAI; Merge Healthcare Inc.; CureMetric Health Tech; Mirada Medical Ltd.; Navigation Sciences; Elekta AB; XION GmbH; Northern Digital Inc.; Fiagon AG Medical Technologies
Image Guided Surgery Devices Market 2024 Key Insights:
• The image guided surgery devices market size will grow to $14.05 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%.
• Image-Guided Surgery Devices Market Thrives Amidst Surging Neurological Disorders
• Pioneering Technological Advancements Digitalized AI Driven Devices
• North America was the largest region in the image guided surgery devices market in 2023
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