Image Guided Surgery Devices Market Comprehensive Review of its Applications, and Growth Opportunities

The image guided surgery devices market is expected to grow at a CAGR of over 6.5% between 2017-2023. Rising cases of neurological disorders, increasing prevalence of chronic diseases, increasing geriatric population and surging healthcare expenditure are some of the key drivers for the market growth. Additionally, growing cases of cancer and launch of technologically advanced imaging systems also supports the market growth.

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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.

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The increasing demand and penetration of image guided surgery devices in emerging economies offers enormous growth opportunities for the image guided surgery devices market. With rising economic growth and increasing government initiatives in Asia-Pacific, the major manufacturers of image guided surgery devices are penetrating into the untapped market in the region. Countries such as China and India are expected to have a large growth potential for the market during the forecast years. The healthcare industry is witnessing significant growth in these countries. The large population base and improving healthcare infrastructure are attracting medical devices manufacturers to develop their manufacturing sites in these countries. Moreover, manufacturing of medical devices in the developing regions tends to decrease the overall cost of manufacturing, thus reducing the cost of the product without altering its quality. Image guided surgery devices such as CT, Ultrasound, MRI, X-Ray Fluoroscopy, Endoscopes, PET and SPECT play a vital role in the diagnosis and treatment of several diseases. Therefore, ease of healthcare access in these countries creates ample growth opportunities for the market.

Competitive Landscape

Some of the key players in the 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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