Increasing demand for integrated imaging systems, technological advancements in surgical imaging systems, and growing geriatric population are some key factors expected to drive market growth.
Reports and Data has published its latest report titled “Surgical Imaging Market By Technology (Image Intensifier C-Arms, Flat-Panel Detector C-Arms), By Application (Orthopedic & Trauma Surgeries, Cardiovascular Surgeries, and Others), By End-use (Hospitals, Ambulatory Surgical Centers, Academic & Research Institutes), and By Region Forecasts To 2028”
Increasing demand for integrated imaging systems, technological advancements in surgical imaging systems, and growing geriatric population are some key factors expected to drive market growth
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According to the latest report by Reports and Data, the global surgical imaging market size was USD 5.76 Billion in 2020 and is expected to reach USD 9.94 Billion in 2028 and register a revenue CAGR of 7.1% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities
A surgical imaging system is a type of intraoperative imaging system that allows surgeons to see a patient’s anatomy in the operating room while performing surgery. Medical professionals have always been on the lookout for advanced technologies that can provide vital information on surgeries and enable efficiency. Technological advancements in the surgical imaging systems offer numerous benefits to healthcare professionals which drive market revenue growth over the forecast period, between 2021 and 2028. For instance, The O-ARM surgical imaging system is an intraoperative 2D/3D imaging device created to meet the expectations of the surgical workflow (such as multiple surgical table options). It can be used for a wide range of treatments, including cranial, spine, and orthopaedic procedures. Advanced surgical imaging technologies provide critical data, increase patient safety, limit radiation exposure and improve surgical outcomes.
In addition, increasing incidences of cardiovascular and neurological diseases, rapid growth in the geriatric population and incorporation of mini c-arms in clinics for sports medicine centers are some factors expected to boost market revenue growth. Rising government initiatives towards early detection of diseases and growing awareness regarding preventive medicine boost market revenue growth. However, high cost of surgical instruments, expensive maintenance costs and various direct expenses for DICOM boxes and printers are factors expected to restrain surgical imaging market revenue growth over the forecast period.
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COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Cardiovascular Segment to Lead in Terms of Revenue Share:
Cardiovascular segment is expected to account for largest revenue share in the global market over the forecast period owing to increasing elderly population, increasing prevalence of cardiovascular diseases and rising number of disorders related to a sedentary lifestyle. According to a recent report by World Health Organization (WHO), 17.9 million people worldwide die from cardiovascular illnesses, accounting for around 32% of all deaths.
Hospitals Segment to Register Significant Revenue Growth:
Hospitals segment is expected to register significant revenue growth over the forecast period attributable to the availability of various surgical instruments, increasing number of patients suffering from chronic disorders, rising number of surgeries and diseases diagnostics, and increasing government funding on healthcare sector.
North America to Register Robust Revenue Growth Rate:
North America is expected to register robust revenue growth rate over the forecast period attributable to growing geriatric population, introduction of technological advancement in c-arm imaging system, increasing prevalence of critical illnesses and diseases, well-established healthcare and medical infrastructure, and presence of numerous healthcare professionals in the region.
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Asia Pacific Accounted for Largest Revenue Share in 2020:
Asia Pacific is expected to account for largest revenue share in the global market in 2020 over the forecast period attributable to increasing prevalence of various cardiovascular, gastrointestinal, and orthopedic disorders, rising government initiatives towards benefits of regular health checkups, and rising number of minimally invasive surgical treatment. In addition, rising government and private investments on development of healthcare sector, especially in emerging economies including China, Malaysia, India, and Thailand drive revenue growth of the APAC market.
Major Companies in the Market Include:
- GE Healthcare Inc.
- Siemens Healthineers AG
- Hologic Inc.
- FUJIFILM Corporation
- Carestream Health Inc.
- Koninklijke Philips NV
- Carestream Health Inc.
- Shimadzu Corporation
- Ziehm Imaging Inc.
- Medtronic PLC
- Canon Medical Systems Corporation
Market Segmentation:
For the purpose of this report, Reports and Data has segmented global surgical imaging market based on technology, application, end-use, and region:
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Image Intensifier C-Arms
- Flat Panel Detector C-Arms (FPD)
Application Outlook (Revenue, USD Billion; 2018-2028)
- Orthopedic & Trauma Surgeries
- Cardiovascular Surgeries
- Neurosurgeries
- Gastroenterology Surgeries
- Others
End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Diagnostic Centers
- Academic & Research Institutes
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Israel
- Rest of MEA
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