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Image Guided Surgery Devices Market Expected to Reach USD 4.80 Billion in 2022: Transparency Market Research

Albany, NY, June 9, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Image Guided Surgery Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022" the global image guided surgery devices market was valued at USD 2.76 billion in 2013 and is projected to expand at a CAGR of 6.4% from 2014 to 2022 to reach USD 4.80 billion in 2022.

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Image-guided surgery (IGS) refers to a surgical procedure that makes use of preoperative or intraoperative images in order to guide surgical instruments by correlating the operative field. The technique was initially developed for neurosurgeries; however, currently, IGS is common in many fields such as orthopedics, ENT, oncology, and others. IGS helps in easy diagnosis and treatment of diseases and defects. Usage of image guidance systems improve the accuracy levels, and thus help in conducting surgeries efficiently. IGS devices work as navigation systems; they guide doctors in planning for the surgery and help surgeons while performing the surgery. Factors such as growing awareness about IGS, increasing popularity of minimally invasive surgeries, rising number of cases of diseases such as cancer, osteoporosis, and ENT problems are driving the IGS devices market. In addition, technological advancements and improvement in health care facilities are driving the IGS devices market.

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Imaging modalities such as computed tomography (CT) scanners, magnetic resonance imaging (MRI) machines, ultrasound machine, endoscopes, X-ray fluoroscopy machine, positron emission tomography (PET) machine, and single positron emission computed tomography (SPECT) equipment are widely used in image guided surgery. The computed tomography (CT) scanners segment was valued at USD 770.7 million in 2013. Wide application of CT scanners in the detection of tumors, soft tissue growths in liver and lungs, and fat deposits coupled with reduced turnaround time have led to highest adoption of CT scanners in image guided surgeries. CT scanners was the largest segment of the global image guided surgery devices market. Moreover, the magnetic resonance imaging (MRI) machine segment is anticipated to expand at the fastest CAGR during the forecast period from 2014 to 2022. Adoption of MRI scans is expected to increase in the near future due to reduced radiation exposure and enhanced visualization of the surgical sites. Advancements in technology (higher strength of magnetic field) resulting in high resolution images are the other major factors that could increase the popularity of MRI scans in the near future. Therefore, adoption of MRI equipment is projected to grow at the fastest CAGR during the forecast period.

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Neurosurgery was the largest application segment of the image guided surgery devices market in 2013. Factors such as rising demand for minimally invasive surgeries, accuracy in reaching complex target area, and increasing demand for reduced hospital stay are contributing to the growth of the neurosurgery application segment. The orthopedic surgery segment is projected to expand at a CAGR of 7% during the forecast period due to rising road accidents and geriatric population. Key players operating in the global image guided surgery devices market include Analogic Corporation, Brainlab AG, General Electric Company, GSI Group, Inc., IMRIS, Inc., Integra LifeSciences Corporation, KARL STORZ GmbH & CO. KG., Toshiba Corporation, Siemens AG, Zimmer Holdings, Inc., Smith & Nephew plc, St. Jude Medical, Inc., Stryker Corporation, and Medtronic, Inc.

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The Global Image Guided Surgery Devices Market has been segmented as follows:

Global Image Guided Surgery Devices Market, by Device Type

  • Computed Tomography (CT) Scanners
  • Ultrasound
  • Magnetic Resonance Imaging (MRI) Machine
  • Endoscope
  • X-ray Fluoroscopy Machine
  • Positron Emission Tomography (PET) Machine
  • Single Photon Emission Computed Tomography (SPECT) Equipment

Global Image Guided Surgery Devices Market, by Application

  • Neurosurgery
  • Orthopedic Surgery
  • Ear, Nose and Throat Surgery
  • Oncology Surgery
  • Others

Global Image Guided Surgery Devices Market, by Geography

North America

  • U.S.
  • Canada

Europe

  • U.K.
  • Germany
  • Rest of Europe

Asia-Pacific

  • China
  • India
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East

  • United Arab Emirates
  • Saudi Arabia
  • Rest of Middle East

Rest of the World

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Source:Transparency Market Research