Rising number of complex surgical procedures performed and increasing technological advancements in surgical imaging systems are key factors driving market revenue growth
Rising number of complex surgical procedures performed and increasing technological advancements in surgical imaging systems are key factors driving market revenue growth
The global surgical imaging market size was USD 5.76 Billion in 2020 and is expected to register a revenue CAGR of 7.1% during the forecast period. Increasing number of complex surgeries performed in countries across the globe is a major factor expected to continue to drive market revenue growth to a significant extent over the forecast period.
Surgical imaging system is an intraoperative imaging technology used to visualize a patient’s anatomy in the operating room during surgical procedures. C-arm is a medical imaging device based on x-ray technology and can be used flexibly during various surgical procedures, including for orthopedics, vascular surgery, cardiology, urology, and traumatology, among others. C-arm machine, based on fluoroscopy technology, provides high resolution x-ray images in real-time and help surgeons to continuously monitor progress of a surgical procedure and make decisions accordingly at any point of time. Mobile c-arms technology is widely used during overflow or back-up situations in emergency and intensive care settings. In addition, rising preference for non-invasive procedures has been fueling steady demand for c-arms systems as it ensures better patient safety during or after the procedures.
Mobile c-arms fluoroscopic imaging system is used in a variety of surgical and non-invasive surgical imaging procedures as the system help in accurate visualization of percutaneous valve replacements, vascular surgery, cardiac surgery, kidney drainage, abdominal and thoracic aortic aneurysm repair, orthopedics, gastroenterology, pain management, neuro stimulation, and neurology procedures. In recent years, mini c-arms are increasingly being incorporated in clinics for sports medicine centers, and for orthopedic and podiatric imaging. This is expected to continue to drive revenue growth of the market going ahead as the need for treatment and procedures increases owing to rising awareness of early detection of diseases and preventive medicine and treatments continue to gain steady traction globally.
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As surgical procedures are increasingly becoming more complex, there is a growing need of employing high-resolution intraoperative imaging in various surgical procedures such as cardiovascular surgery, endovascular repairs, and peripheral vascular interventions. Rapid development of newer and more advanced systems offering dose management features such as beam filters and technology enabling sharper pulses is facilitating healthcare professionals to optimize dose delivery and dose efficiency more significantly, and this is expected to drive revenue growth of the market going ahead.
Increasing technological advancements in surgical imaging systems such as development of next generation O-arm or G-arm technology is expected to contribute significantly to revenue growth of the market in the near future. O-arm system is a portable, state of the art imaging system, which creates detailed 2D and 3D images, which assists surgeons during spinal surgery procedures. Ongoing research and development activities and rapid innovation is expanding the clinical indications of O-arm imaging into cranial, orthopedic, ENT and traumarelated applications is expected to support market growth in the near future. However, high cost of surgical instruments and systems is expected to restrain market growth to a certain extent over the forecast period.
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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