Global Surgical Imaging Industry - Emerging Markets to Offer High Growth Opportunities


Posted August 21, 2019 by mmvaidya01

The surgical imaging market is expected to reach USD 1.63 Billion by 2022 from an estimated USD 1.25 Billion in 2017, at a CAGR of 5.5%.

 
The key factors driving the growth of this market are growing popularity of Flat Panel Detector C-arms (FPD C-arms) owing to advantages of FPDs over image intensifiers, reimbursement cuts on analog radiography systems, and increasing demand for minimally invasive procedures. The growing demand for data integrated imaging systems and high growth in emerging markets like Asia Pacific is an opportunity for the market to grow.

The base year considered for the study is 2016, and the forecast has been provided for the period between 2017 and 2022.

Restraints:
# High cost of instruments

Opportunities:
# Growing demand for data-integrated imaging systems
# Emerging markets to offer high growth opportunities

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On the basis of technology, the surgical imaging market is broadly segmented into image intensifier C-arms and flat panel detector C-arms (FPD C-arms). In 2017, image intensifier C-arms is expected to account for the largest share of this market owing to the huge installed base of these systems globally. Image intensifier C-arms are cheaper than FPD C-arms and hence are the preferred choice for many end users globally.

On the basis of application, the market has been segmented into orthopedic and trauma surgeries, neurosurgeries, cardiovascular surgeries, gastrointestinal surgeries, and other applications (urology and endobronchial & thoracic surgery). The orthopedic and trauma surgeries segment is expected to command the largest share of the market in 2017.

North America is expected to account for the largest share of the surgical imaging market in 2017, followed by Europe, Asia Pacific (APAC), and the Rest of the World. The large share of this region can be attributed to a rising number of overuse sports injuries, and rising prevalence of CVD, along with the increasing number of cardiac arrest cases, and increase in the number of minimally invasive procedures performed in Canada. However, Asia Pacific is expected to register the highest CAGR of 7.1% during the forecast period.

The surgical imaging market is emerging and fragmented in nature with various regional and international players. In 2016, the surgical imaging market was dominated by a few large players and several small players. Players in this market compete with each other to deliver superior quality products that are technologically advanced and to provide well-regulated customer service functions. Major companies in this market are GE Healthcare (UK), Siemens AG (Germany), Koninklijke Philips (Netherlands), and Ziehm Imaging (Germany).

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Agreements, collaborations, alliances, and partnerships were the key strategies adopted by players from 2014–2017. The players that adopted these strategies are Koninklijke Philips, Ziehm Imaging, GE Healthcare, Siemens, OrthoScan, Toshiba Medical Systems, and Medtronic. Koninklijke Philips accounted for a share of 38% of the total number of agreements, collaborations, alliances, and partnerships in the surgical imaging market. This high share of the company can be attributed to its increasing number of partnerships and collaborations with hospitals which are the primary end users of C-arms.

Some of the other players competing in this market are Hologic (US), Shimadzu Corporation (Japan), OrthoScan (US), Medtronic (US), Toshiba Medical Systems Corporation (Japan), GENORAY (South Korea), Eurocolumbus (Italy), Allengers Medical Systems (India), and MS Westfalia (Russia).

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Issued By Makarand Vaidya
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Business Address 630 Dundee Road
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Country United States
Categories Industry , Medical , Research
Tags surgical imaging market
Last Updated August 21, 2019