Global Image Guided Surgery Devices Market Advances with Improvement in Technology & Public Awareness

Image-guided surgery is a surgical procedure that utilizes preoperative or intraoperative images to facilitate precisely guided surgical instruments by correlating the operative field. The images taken during the surgery help in conducting the surgical procedure seamlessly; it reduces the chances of errors and minimizes the procedure time. Some of the major image guided surgery devices are computed tomography, magnetic resonance imaging, ultrasound, endoscope and X-ray fluoroscopy. Moreover, these devices are used in various clinical procedures in neurosurgery, orthopedic, ENT, and maxillofacial surgery. Rising demand for better health care facilities, increased health care expenditure, growing popularity of image guided surgery devices, and rising government initiatives are fueling the growth of the market. This report covers the market analysis of different types of image guided surgery devices that are used in various surgeries.

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The executive summary of the report comprises market snapshot of the global image guided surgery devices market and comparative analysis by geography in terms of value % for 2014 and 2022. Based on type of device, the global image guided surgery devices market has been segmented into X-ray fluoroscopy, ultrasound, magnetic resonance imaging (MRI) systems, computed tomography (CT) scanners, positron emission tomography (PET), endoscopes, and single photon emission computed tomography (SPECT). Based on application, the market has been segmented into neurosurgery, ENT, oncology, orthopedic, and others. In-depth market analysis and forecast for all the segments mentioned above have been provided in the report, in terms of market revenue (USD million) from 2012 to 2022. The report includes the compound annual growth rate (CAGR %) for each application segment (neurosurgery, ENT, oncology, orthopedic, and others) for the forecast period from 2015 to 2022, considering 2014 as the base year.

The global image guided surgery devices market is progressing at a CAGR of 6.40% within a forecast period from 2014 to 2022. The market’s value in 2013 was US$2.7 bn and is expected to grow to US$4.8 bn by the end of 2022, as given in a market research report released by Transparency Market Research. The report, titled “Image Guided Surgery Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 -2022”, provides extensive details on the market for the given forecast period.

Details in the report reveal the primary driver of the global image guided surgery devices market to be the advantages provided by the surgical procedure itself. These include a drastic reduction in the time of surgery, reduction in surgery scars, and a rapid post-surgery healing rate. The market is also backed by the growing number of incidents of physical trauma, neural diseases, and orthopedic issues that require surgical intervention.

Based on application, the global image guided surgery devices market was dominated by the neurosurgery applications segment in 2013. The segment led the global image guided surgery devices market owing to the minimal risk of damage caused to non-surgical brain sites and a greatly heightened level of operating accuracy. The orthopedic surgery application segment, on the other hand, is expected to expand at a 7.0% CAGR between 2014 and 2022, which is the fastest growth rate among the applications segments. This segment is growing due to an increasing geriatric population.

According to device type, the global image guided surgery devices market was largely dominated by the computed tomography segment. CT-guided surgeries are touted to have the highest level of accuracy, along with a turnaround time of less than 500 milliseconds. The CT scanner segment in 2013 was valued at US$770 mn.The global image guided surgery devices market is expected to grow at a faster pace due to a growing number of accidents. Cited in the report is a statement by the ASIRT, which reveals that there are between 20 mn to 50 mn people who are injured or even disabled every year in road accidents.

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The largest regional segment of the global image guided surgery devices market for 2013 was North America, closely followed by Europe, owing to the high level of expenditure on healthcare, feasible reimbursement schemes, rapid advancement of technology and its adoption, and the availability of skilled professionals.The Asia Pacific image guided surgery devices market is expected to progress at a 6.90% CAGR between 2014 and 2022, owing to a growing scope of medical tourism and improvements in healthcare infrastructure.

The key players in the global image guided surgery devices market are Medtronic, Inc., Stryker, St. Jude Medical, Inc., Smith & Nephew plc, Zimmer Holdings, Inc., Siemens AG, Toshiba Corp., Karl Storz GmbH & Co. KG., Integra LifeSciences Corp., IMRIS, Inc., GSI Group, Inc., General Electric Company, Brainlab AG, and Analogic Corp.

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This release was published on openPR.