Intraoperative Imaging Market Size Is Poised To Reach $4.44 Billion By 2026: Grand View Research Inc.

 

The global intraoperative imaging market size is anticipated to reach USD 4.44 Billion by 2026, registering a 5.9% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Rising demand for minimal invasive surgical solutions and increasing application of intraoperative imaging technology in neuro and orthopedic surgeries is expected to contribute towards the growth of the market.

Improving quality of healthcare services especially in the developing countries and stringent guidelines towards patient safety is leading to boost the adoption of advance intraoperative technology. Moreover, adoption of intraoperative devices has helped healthcare facilities in saving costs on repeat operation, thus significantly decreasing overall financial burden on patients

Increasing incidence of neurological disorders such as Parkinson’s, stroke, epilepsy, Alzheimer’s, and dementia is expected to drive the demand for advanced brain surgery solutions including intraoperative imaging. Furthermore, rapidly growing number of spinal fusion and other orthopedic surgeries such as knee and hip replacements and growing trends of minimally invasive procedures installing implants is expected to fuel the market. Widening applications of intraoperative imaging systems across several surgical procedures including but not limited to stenting for cerebral aneurysm, catheter-based interventions, biopsy removal, spinal implants, laparoscopy, deep brain stimulation and tumor surgery etc. is expected to boost the demand for advanced and portable intraoperative imaging systems.

Technological advancement in intraoperative Imaging systems is an emerging trend witnessed in the market. These developments include 3D, 4D imaging technology coupled with an efficient guiding and dose management systems which doesn’t affect the surgical procedure time. Such growing development in Intraoperative imaging devices is expected to drive the market during the forecast period. Modern intraoperative imaging systems provide high-resolution real-time images to enhance monitoring during procedures. End users such as hospitals are opting for latest intraoperative imaging systems as it helps in overall surgery cost by reducing the need of follow-up operations and cost associated with it. Several comparative studies have proved that intraoperative MRI assisted OR helps in improving net health outcome, reduce resection rate, and hospital stay.

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Rising prevalence of orthopedic, neurological, and cardiac disorders is expected to propel the market growth. Treatment of these conditions require minimally invasive surgeries. Healthcare and Utilization Project (HCUP) reported 93% increase in knee arthroplasty and 70% increase in spinal fusion surgeries performed within a period of 11 years in U.S. hospitals. This trend is expected to continue with adoption of advanced intraoperative imaging systems.

Intraoperative Imaging Market Report Highlights

• Based on the product, iCT holds the largest market share and is also expected to grow at a significant rate over the forecast period. Wider application of iCT across several surgical procedures coupled with introduction of innovative technology such as C-arm CT system, low dose exposure systems, pediatric intraoperative CT systems, is expected to propel intraoperative imaging market growth.
• Based on Application, neurosurgery and orthopedic surgery market are leading the market. The driving factors are the growing prevalence of neurological disorders across the globe and increasing number of surgeries such as spinal fusion, knee replacement.
• Hospital held the largest market share in 2018. Larger patient pool, rising adoption to minimal invasive surgeries, availability of specialist surgeons, and advance technology is expected to propel the growth of this segment.
• North America held the largest market share in 2018. Presence of major market players and developed healthcare infrastructure is expected to contribute towards the growth of market in this region.
• Asia Pacific is expected to grow at the fastest rate over the forecast period due to rapidly developing economy and healthcare services especially in the countries like India and Indonesia. The increasing popularity of intraoperative imaging technology coupled with large unmet needs in the regions of Asia Pacific is expected to drive the growth of this market.

Leading players in market include GE Healthcare, Siemens Healthineers, Koninklijke Philips N.V., Medtronic, IMRIS, Ziehm Imaging GmbH, Brainlab AG, Shimadzu Corporation, and NeuroLogica Corp., share the market with several small and medium sized vendors. These players are focusing on growth strategies, such as product launches, innovations in the existing product, regional expansions, and mergers & acquisitions. For instance, In March 2018, Philips gets 510k clearance for the launch of their product called Big Bore sliding gantry. It accesses, reviews, analyses, diagnose, and presents image quickly with comparatively low dose exposure.

Grand View Research has segmented the Intraoperative Imaging market on the basis of product,:

Intraoperative Imaging Product Outlook (Revenue, USD Million; 2014 - 2026)

• iCT
• iMRI
• iUltrasound
• C-arm system

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.