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Intraoperative Imaging Market outlook with industry review and forecasts

Author : Rahul Sankrityayan | Published Date : 2019-07-24 

Intraoperative Imaging Market size is projected to experience significant growth from 2019 to 2025. Intraoperative imaging market size is estimated to witness significant growth due to increasing number of surgeries over the last few years. Rising number of baby boomers coupled with increased prevalence of chronic diseases such as cardiac, neurological and orthopedic ailments will drive the global intraoperative imaging market size. The elderly population (aged 60 years and above) is estimated to become 2 billion by 2050, as per WHO. Hence, the above mentioned factors will augment the market growth in near future.

Rising demand for minimal invasive surgeries coupled with real time imaging ensures precision and reduces human errors. According to the Agency for Healthcare Research and Quality, around 300,000 total hip replacement surgeries are performed annually. In neurological surgery, intraoperative imaging provides dataset for neuro navigation system. As a result, intraoperative imaging helps in curbing risks of neurological injury. Intraoperative imaging enables reduction in hospital stays, wound healing time and allows smaller incision. The technology helps surgeon to treat precise areas with greater efficiency, resulting in higher demand and product adoption rate, fueling the business growth in the future.

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The popularity of image-guided intervention surgeries has increased demand for such procedures, thus fueling market size growth. Increasing prevalence of obesity across the globe due to lack of physical activity, sedentary lifestyle and unhealthy dietary habits will result in increasing number of people suffering from cardiovascular and chronic diseases thus leading to rise in number of surgeries. As per WHO, in 2014, about 13% of adults were obese while 39% were overweight. Hence, increase in number of people suffering chronic disorders will give rise to the market growth.

Organizations such as, The Intra Operative Imaging Society (IOIS) create awareness about intraoperative imaging and its benefits will positively impact intraoperative imaging market growth during the forecast period. However, excessive cost associated with intraoperative imaging will hinder intraoperative imaging market.

Based on the product, the industry can be segmented into intraoperative ultrasound system, intraoperative computed tomography system, C-arms system and intraoperative magnetic resonance imaging systems. Intraoperative computed tomography is estimated to hold larger revenue share due to added advantages over the other methods such as enhanced clarity and precision delivered by this system. Technological advancements including multiple level image processing will increase demand for intraoperative computed tomography in the coming years. Intraoperative magnetic resonance imaging systems will witness significant growth during the forecast period owing to increasing application of intraoperative MRI systems during neurological surgery especially for tumor excision.

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Based on the application, the industry can be segmented into neurology surgery, oncology surgery, ENT surgery, orthopedic surgery and others. The oncology application market will experience considerable growth over the forecast period due to increasing number of people suffering from cancer along with rising demand for advanced cancer treatment. According to American cancer society statistics, about 600,920 people in the U.S. will die due to cancer in the year 2017.

Based on the end-use, the industry can be segmented into hospitals, clinics and ambulatory surgical centers. Hospital segment is projected to dominate the market throughout the estimation period due to availability of skilled professionals and advanced surgical equipment at the hospital. Several initiatives such as integrated Smart Imaging Circuit (iSIC) initiative undertaken by Kyoto university hospital, Japan for enhancing patient safety during surgeries will favor market growth.

U.S. will witness significant growth over the forecast period due to presence of large patient pool. As per CDC 2017 data, around 6.5 million people in the U.S. suffered from cerebrovascular stroke. High technology adoption, rising healthcare expenditure and growing patient awareness about intraoperative imaging will drive U.S. intraoperative imaging market.

China intraoperative imaging market will grow at healthy rate due to increasing geriatric population base along with rising prevalence of chronic disorders in the country. Increased health care expenditure, technological advancements and rising patient awareness will create lucrative growth opportunities.

Well established healthcare infrastructure along with technological advancements pertaining to neurosurgery will boost the Saudi Arabia intraoperative imaging industry share. Growing adoption of sedentary lifestyle and change in dietary habits will stimulate prevalence of chronic diseases, fueling market growth.

Some of the industry players include, Philips healthcare, Medtronic, GE Healthcare, iMRIS, Deerfield Imaging, Toshiba Medical Systems Corporation, Brainlab AG, Siemens Healthineers, Ziehm Imaging GmbH and NeuroLogica Corporation. The industry players focus on strategic alliances and R&D to introduce new product to the market and consolidate their market position. Brainlab has signed strategic agreement with GE Healthcare and also with Toshiba Medical System Corporation. The strategy aimed at product integration in order to develop technologically advanced superior products.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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