The Global Image Guided Systems Market was valued at USD 7.23 Billion in 2022 and is expected to reach USD 17.41 Billion by 2033. The devices segment with a market share more than 75% has topped the global market within the product category and is expected to grow at a CAGR of close to 8.2% over the forecast period (2023 to 2033).
Market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2022 | USD 7.23 Billion |
| Market Value 2023 | USD 7.79 Billion |
| Market Value 2033 | USD 17.41 Billion |
| CAGR 2023 to 2033 | 8.4% |
| Share of Top 5 Countries | 63.4% |
| Key Players | Siemens Healthineers; Analogic Corporation; GE Healthcare; Koninklijke Philips N.V.; Stryker Corporation; Carestream Health; Hitachi Medical Corporation; Hologic; United Imaging Technologies Inc.; BrainLab AG; Karl Storz Gmbh & Co. Kg; Smith & Nephew Plc; Esaote SpA; Zimmer Biomet; Varian Medical Systems; Inc.; Medtronic Plc.; EndoMed Systems; Maxer Endoscopy; Blazejewski MEDI-TECH GmbH; Olympus Corporation; FUJIFILM Holdings Corporation; Shenyang Shenda Endoscope Co.; Ltd.; Shimadzu Corporation; Shenzhen Anke High-tech Co.; Ltd. |
Image guided surgery (IGS) refers to the application of a real-time correlation of the surgical field to a preoperative imaging data collection that reflects the precise placement of a chosen surgical instrument to the adjacent anatomic structures. Since the development of the endoscopic approach in the middle of the 1980s, image guided surgery has been one of the most important developments in endoscopic approach surgery.
Conventional surgical techniques take longer, are less precise, and include a risk of injury to neighboring nonsurgical areas. As a result, there is a rising need for surgical methods that are more accurate and quick. The benefits of image guided surgery devices include reduced damage, quicker healing of surgical wounds, and higher levels of accuracy.
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Sales of the image guided systems market grew at a CAGR of 7.7% between 2017 and 2022. Image guided systems market contributes 1.4% revenue share to the global medical device market, which is valued at USD 512.6 Billion in 2022.
Imaging-guided systems are in demand because they provide physicians and other medical professionals with more accurate and precise information during medical procedures. By using imaging technologies such as ultrasound, magnetic resonance imaging (MRI), computed tomography (CT), or X-rays, physicians can visualize the internal organs, tissues, and other structures of the body in real time. The technology can help physicians in various ways such as improved accuracy, reduced risk, and enhanced treatment planning which is accelerating the market growth for image guided systems.
Similarly, as a result of technological advancements, there is a greater demand worldwide for image guided systems. Minimally invasive surgeries provide a much faster recovery period and significantly less scarring than more invasive procedures. The rise in brain illnesses, orthopedic conditions, and trauma injuries is another element influencing the market expansion for image-guided surgical equipment.
Considering this, FMI expects the global market to grow at a CAGR of 8.4% through the forecasted years.
There is a growing preference for minimally invasive procedures over traditional open surgeries due to their advantages, including reduced scarring, shorter hospital stays, faster recovery times, and lower risk of complications. Image guided systems play a crucial role in guiding and monitoring minimally invasive interventions, ensuring precise targeting and safe delivery of treatments. The increasing adoption of minimally invasive procedures propels the demand for image guided systems.
The increasing prevalence of chronic diseases, such as cancer, cardiovascular disorders, and neurological conditions, has led to a rise in the demand for precise diagnosis, treatment planning, and minimally invasive interventions. Image guided systems offer improved visualization and guidance during procedures, enabling better disease management and patient outcomes.
The rising incidence of cardiovascular diseases (CVDs) and cancer is boosting market growth. CVDs and cancer are usually acute events that comprise the highest death rate in the world. For instance, the global burden of chronic diseases is escalating, with Cardiovascular Diseases (CVDs) responsible for around 32% of the 17.9 million deaths reported by the World Health Organization (WHO) in 2019.
These drivers collectively contribute to the growth and development of the image guided systems market, creating opportunities for technological advancements, market expansion, and improved patient care.
While the demand for imaging-guided systems continues to grow, there are also several market restraints that affect the adoption and growth of these systems.
Imaging-guided systems are often expensive to develop, purchase, and maintain. This high cost can limit their adoption, especially in developing countries with limited healthcare budgets. Moreover, in some regions, healthcare facilities may not have access to advanced imaging technologies, which can limit the adoption and use of imaging guided systems.
Regulations can limit the adoption of imaging guided systems in several ways. The approval process of IGS can be lengthy and complex which limits the adoption of these systems. These regulatory challenges can limit the adoption of imaging-guided systems, but they are necessary to ensure patient safety and to maintain high standards of care. Efforts are underway to streamline regulatory processes and to make imaging-guided systems more accessible and affordable for healthcare facilities.
The USA dominated the global market in 2022 and is expected to register a CAGR of 7.5% during the forecast period.
The expansion of the market is being driven by an increase in traumatic brain injuries (TBI) in the nation. In the USA, the prevalence of TBI tumors is increasing, and surgery is one of the management options for TBIs. The Centres for Disease Control and Prevention estimate that there were 69,473 TBI-related fatalities in 2021 and 223,135 hospitalizations due to TBI in 2019.
The USA has a robust healthcare and medical technology sector that fosters the development and adoption of advanced image guided systems. USA companies invest significantly in research and development, leading to the creation of cutting-edge technologies and products.
Germany dominated the European market for image guided systems and accounted for around 7.1% of the market share in 2022.
The development of endoscopic technology, mergers and acquisitions among major market participants, and the introduction of new products are mostly to influence the rise of the German market for Image guided systems.
For instance, Fujifilm introduced ColoAssist PRO, a real-time endoscopic visualization system, in Germany in November 2021. Also, Erbe Elektromedizia also bought Maxer Endoscopy, a Germany-based company, in April 2021 to expand its presence in this region. Therefore, due to the increase in product acceptance, product launches and acquisitions for the expansion of endoscopy services in Germany are anticipated to fuel market growth.
China accounted for revenue share of 4.7% in the global market at the end of 2022. China is projected to be the most attractive market over the forecast period.
According to a research report titled "Cardiovascular Potential Risk Factor and Disease Mortality in China" released in April 2022, the primary contributor to the cost of healthcare is cardiovascular disease (CVD). Furthermore, due to better clinical outcomes, quick recovery, and overall lower cost of minimally invasive surgeries compared to open surgeries, demand for image guided surgery is rising in the nation.
As a result, it is becoming increasingly apparent that people prefer less invasive surgeries will drive the market of image-guided surgery devices during the forecast period.
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The devices segment held a market share of around 75.5% of the global market by the end of 2022.
The aspect which is promoting business growth is the demand for minimally invasive therapies. According to a statewide survey study by Johns Hopkins Medicine, the use of minimally invasive procedures for several common operations can reduce postoperative complications and can also save healthcare costs. As a result of the increased demand for less intrusive image-guided treatments, the market is expected to expand in the near future.
The neurosurgery segment accounted for a revenue share of 29.3% in the global market at the end of 2022.
Neurosurgery involves intricate procedures within the brain and nervous system, requiring a high level of precision. Image guided systems provide real-time visualization and navigation tools that enable surgeons to accurately target and navigate through delicate neural structures. Also, the increasing prevalence of these conditions has led to a higher demand for neurosurgical interventions, driving the growth of the image guided systems market in the neurosurgery segment.
The hospital’s segment accounted for a revenue share of 74.8% in the global market at the end of 2022.
Hospitals provide easy access to treatment alternatives, with many offering technologically advanced Image guided systems for a variety of ailments such as urology and oncology surgeries.
Overall, hospitals provide quick and accessible treatment choices for a wide range of chronic illnesses, making them the most popular segment for these treatments.
Key image guided system market companies are investing substantial resources in new product innovation, providing unique equipment to treat patients, and providing life-sustaining treatment. Some major businesses are acquiring other companies in order to strengthen their global market positions, while others are focusing on product launches.
For instance:
Similarly, recent developments have been tracked by the team at Future Market Insights related to companies in the image guided systems market space, which are available in the full report
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East and Africa (MEA) |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Germany, United Kingdom, France, Italy, Spain, Russia, BENELUX, Nordics, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Australia, New Zealand, Türkiye, South Africa, North Africa and GCC Countries |
| Key Segments Covered | Product, Application, End User, and Region |
| Key Companies Profiled | Siemens Healthineers; Analogic Corporation; GE Healthcare; Koninklijke Philips N.V.; Stryker Corporation; Carestream Health; Hitachi Medical Corporation; Hologic; United Imaging Technologies Inc.; BrainLab AG; Karl Storz Gmbh & Co. Kg; Smith & Nephew Plc; Esaote SpA; Zimmer Biomet; Varian Medical Systems, Inc.; Medtronic Plc.; EndoMed Systems; Maxer Endoscopy; Blazejewski MEDI-TECH GmbH; Olympus Corporation; FUJIFILM Holdings Corporation; Shenyang Shenda Endoscope Co., Ltd.; Shimadzu Corporation; Shenzhen Anke High-tech Co., Ltd. |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is expected to reach USD 17.41 billion by 2033
The market is projected to record a CAGR of 8.4% through 2033.
Siemens Healthineers, Carestream Health, and Medtronic Plc. are some key players.
The medical imaging segment is leading in the image guided systems market.
Integration of artificial intelligence for image analysis and the use of image guided systems in minimally invasive techniques.
| Estimated Market Size (2024E) | USD 1,465.4 million |
|---|---|
| Projected Industry Value (2034F) | USD 2,319.6 million |
| Value-based CAGR (2024 to 2034) | 4.7% |
| Market Value for 2023 | USD 1,311.70 million |
|---|---|
| Market Value for 2033 | USD 3,250.70 million |
| Market CAGR from 2023 to 2033 | 9.5% |
| Market Value (2023) | USD 380.8 Million |
|---|---|
| Market Value (2033) | USD 756.3 Million |
| CAGR (2023 to 2033) | 6.5% |
| Market Valuation (2023) | USD 1.3 billion |
|---|---|
| Market Valuation (2033) | USD 2.1 billion |
| Market CAGR (2023 to 2033) | 5.3% |
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