Image-Guided Surgery Devices Market in Asia-Pacific is observed to Witness the Fastest Growth during Forecast 2024

Image-Guided-Surgery-Devices-Market.jpgGlobal image-guided surgery devices market is predicted to grow at 7.1% CAGR during the forecast period with the market size reaching USD 6.3 billion by 2024. The market is driven by the factors such as expanding the geriatric population, expanding the geriatric population, escalating occurrence of chronic diseases, and mounting occurrence of neurosurgery. Moreover, escalating adoption of minimally invasive surgery, intensifying healthcare expenditure, the mounting occurrence of neurological disorders, and mounting awareness of healthcare are further fuelling the growth of the market.

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The market for image-guided surgery devices is primarily driven by increasing demand and penetration of image-guided surgery devices. It visually correlates intraoperative anatomy with preoperative CT scan. Image-guided surgery devices are used for guiding surgeons during the surgery. It enhances accuracy during the surgery, decreases procedure time, reduces complexity, and insignificant surgical scar. It is majorly used in oncology, neurology, cardiology, and orthopedic. This offers market players immense opportunities for clinical trials, which will drive their revenue growth. For instance, according to GLOBOCAN globally, approximately 14.1 million new cancer cases were diagnosed and there were 8.2 million cancer deaths in 2012.

The different applications of, the image-guided surgery devices market are cardiac surgery, neurosurgery, orthopedic surgery, urology, gastroenterology, oncology surgery, and others. Of all these applications, the orthopedic surgery category is predicted to witness the highest CAGR during the forecast period owing to expanding the geriatric population, and mounting occurrence of road accidents. In addition, of all these applications, the neurosurgery category accounted the largest share in the image-guided surgery devices market owing to an upsurge in the precision of the operating procedure, the mounting occurrence of neurological disorder and diseases, and least threat of injury to non-surgical sites in the brain.

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North America accounted for the major share in the image-guided surgery devices industry in 2017, globally as the occurrence of neurological disorder is increasing, availability of a skilled professional, escalating healthcare awareness, and expanding the geriatric population.

In addition, high rate of adoption of novel technologies, the mounting demand of minimally invasive surgery, escalating occurrence of chronic diseases, increasing demand and penetration of image-guided surgery devices, and intensifying healthcare expenditure are some of the factors facilitating the growth of the North American image-guided surgery devices market. For instance, according to GLOBOCAN in the U.S., approximately 1.6 million new cancer cases were diagnosed and there were 0.6 million cancer deaths in 2012.

Moreover, Asia-Pacific is observed to witness the fastest growth in the image-guided surgery devices market, owing to mounting healthcare expenditure, intensifying healthcare awareness, escalating occurrence of chronic diseases, and a large population base. Improving healthcare infrastructure, the mounting demand for minimally invasive surgery, expanding the geriatric population, and rapid growth in medical tourism are some of the factors fuelling the growth of the Asia-Pacific image-guided surgery devices market.

Key players in the image-guided surgery devices industry are investing in the development of advanced, which is strengthening their position in the marketSiemens AG, Koninklijke Philips N.V, Medtronic Plc, Stryker Corporation, Hitachi, Ltd., Varian Medical Systems, Inc., Smith & Nephew plc, KARL STORZ GmbH & Co. KG., Zimmer Holdings, Inc., and General Electric are some of the key players offering image-guided surgery devices.

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