Intraoperative Imaging Systems Global Market estimated to be worth $3,424.7 million by 2024
Intraoperative imaging systems use image-guided technologies that enable surgeons to capture and visualize real-time views mostly while performing minimally invasive surgeries, to deliver therapies, confirm procedure status, improve real-time decision making capability, to modify treatment methodology for improving localization and targeting of diseased tissues, improve surgical outcomes with shorter hospitalization and fewer post-operation complication risks. This system requires a specialized hybrid operating room equipped with 3D sensors, which was initially designed to treat brain tumors at lower radiation exposure rates but nowadays, it is used in wider surgical application areas like orthopedic, spine, cardiovascular, neuro, otorhinology, etc.
According to IQ4I analysis, the intraoperative imaging systems global market is expected to grow at a single digit CAGR to reach $3,424.7 million by 2024. Increase in aging population and subsequent rise in the incidence of lifestyle and chronic illness and increased demand for intraoperative imaging systems while performing minimally invasive surgical procedures are some of the factors driving the intraoperative imaging systems market growth. Technological advancements in wider applicational areas and rising awareness and market expansion opportunities in emerging countries are few opportunities for the intraoperative imaging systems market. However, technical aspects, radiation exposure risks complications while using intraoperative imaging systems and lack of skilled professionals in handling intraoperative imaging systems are expected to hamper the market growth.
The intraoperative imaging systems global market is mainly segmented by products, applications, end-users and geography. The intraoperative imaging systems global products market is segmented into C-Arms, intraoperative MRI, intraoperative CT, intraoperative ultrasound and others (fluorescence intraoperative imaging systems and intraoperative optical coherence tomograohy system). Among this intraoperative CT segment accounted for the largest share in 2017 and is expected to grow at a single digit CAGR from 2017-2024 and intraoperative MRI is expected to grow at a strong CAGR.
Based on application, the market is segmented into neurosurgery, oncosurgery, orthopedic surgery, pain management, spine surgery, cardiovascular surgery and others. The neurosurgery segment accounted for the largest share in 2017 and oncosurgery is expected to grow at high single digit strong CAGR from 2017-2024, due to increasing incidences of cancer.
End-Users are segmented into hospitals, ambulatory surgical centres and others (academic and research institutes). Among the end users of the intraoperative imaging systems market, hospitals generated the largest revenue 2017 and are expected to grow at a high single digit CAGR from 2017-2024, driven by rising incidence of lifestyle and chronic illness and increasing demand for technically advanced imaging products.
Technological advancements in intraoperative imaging systems market include handheld portable intraoperative imaging systems, wearable fluorescence intraoperative imaging systems and G-Arms. A Recent trend in this market is usage and adoption of optical imaging technology in intraoperative imaging system due to its ability to visualize blood flow, pathological tissues, intraoperative cellular and chemical/molecular imaging. For instance, LUM System by Lumicell (U.S.) is handheld, lightweight single-cell resolution intraoperative imaging device which is under clinical trials, is used to assist the surgeons to remove residual cancer cells in real-time within the tumor bed through eliminating the need for repeated surgeries due to positive margins or local recurrence in breast cancer patients. LightPath imaging system by Lightpoint Medical Ltd (U.K.) is an intra-operative imaging device capable of rapidly acquiring molecular images of tissue specimens using Cerenkov luminescence imaging technology in breast cancer patients is still under clinical trials.
Geographically, North America commanded the largest market share in 2017 due to high investments in healthcare infrastructures, advanced healthcare facilities, increasing ageing population, rapid adoption and awareness about the technological advancements, availability of Medicare and third party insurance facilities and easy availability of skilled professionals. However, Asia-pacific region is expected to grow at the highest CAGR from 2017-2024 due to increasing healthcare awareness, improving economic growth, and increasing incidences of chronic diseases. The significant launch of new products, agreement, partnership, collaborations, and joint ventures are the industry trends that are playing a major role in the market growth.
Intraoperative imaging systems market is consolidated with key players occupying major share of the market. The key players include General Electric Company (U.S.), Siemens AG (Germany, Canon Group (Japan), Koninklijke Philips N.V. (Netherlands), Aton GmbH (Germany) and Shimadzu Corporation (Japan).
Companies in this market are coming up with innovative technologies and devices for entering or maintaining their leadership position in different sectors of intraoperative imaging systems market. Wearable Near Infrared (NIR) fluorescent imaging system (Google glass by Google (U.S.)) is a miniaturized device with two imaging sensors affixed to a wearable stereoscopic display which assists the surgeons in providing 3D images of tumors while performing oncosurgery. Also, many researchers are engaged in developing next-generation integrated intraoperative imaging systems with smart phones and computers to seamlessly transfer scanned image data to patients to reduce turn-around-time. For instance, ACUSON Freestyle by Siemens Healthcare is a wireless ultrasound used for an interventional suite and at the point-of-care.
Emerging players in this market include Orthoscan (U.S.), Biomedical International (Italy), Toshiba Medical Systems Corporation (Japan), Ecotron (South Korea), Technix S.PA. (Italy), Vision Medicaid Equipments Pvt. Ltd (India), Gemss Medical (Korea), Villa Sistemi Medicali S.P.A (U.S.), Hologic (U.S.), Eurocolumbus S.R.L. (Italy), Omega Medical Imaging Inc (U.S.), Alcon (Switzerland), Haag-Streit Surgical GmbH (Germany), Leica Microsystems Inc (U.S.), Novadaq Technologies Inc (Canada), Fluoptics (France) and Carl Zeiss Meditec AG (Germany).
Major players in intraoperative imaging systems global market include General Electric Company (U.S.), Koninklijke Philips N.V. (Netherlands), Siemens AG (Germany), Aton GmbH (Germany), Medtronic Plc (Ireland), Imris Inc. (Deerfield Imaging) (U.S.), Canon (Japan), Shimadzu Corporation (Japan), Brainlab AG (Germany) and Samsung Group (South Korea).