This report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the intraoperative imaging market along with the estimates and forecasts of the revenue.

The growth of this market can be attributed to factors such as the growth in the aging population, rising burden of chronic diseases with changing lifestyles, increasing preference and demand for minimally invasive surgeries (MIS), and expanding applications of neurosurgery and orthopedic surgery. However, the high cost of intraoperative imaging equipment is likely to create a negative impact on the growth of this market.

Market Dynamics

Driver: Rising preference for minimally invasive procedures

Over the years, the preference and demand for minimally invasive surgery (MIS) has increased in tandem with technological advancements. As opposed to traditional open surgeries, MIS procedures have fewer complications; are faster to perform and reduce hospital stay and rehabilitation periods; cause minimal blood loss, trauma, and scarring; and have a reduced risk of infection.

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As MIS procedures are performed through small incisions, the demand for these procedures has increased significantly in neurosurgical procedures (biopsies, placement of electrodes, thermal ablations for malignant and benign tumors), orthopedic procedures (knee and hip replacements), and spine surgery.

Restraint: High cost of intraoperative imaging systems

Intraoperative imaging is increasingly being recognized as a tool for precise and effective surgeries. However, the high cost of intraoperative imaging systems is one of the major factors limiting their wider adoption among end users. For instance, iMRI units cost between USD 3,000,000 and USD 7,000,000; iCT scanners cost between USD 1,500,000 and USD 3,500,000; whereas, mobile C-arms cost above USD 150,000.

Consequently, end users such as small or medium-sized hospitals cannot afford such premium-priced products due to budgetary constraints. Additionally, the use of intraoperative imaging equipment requires restructuring of operational procedures, and therefore, requires appropriate training for the staff involved in surgeries. This is a major factor limiting the growth of the intraoperative imaging systems market, especially in emerging economies.

Opportunity: Emerging Markets

Emerging economies such as China, India, Brazil, Mexico, and several Middle Eastern countries are expected to witness high growth in the intraoperative imaging market. These markets are majorly untapped and are characterized by improving healthcare infrastructure, significant growth in geriatric population, a growing middle-class, and rising income levels, which together are driving the demand for improved healthcare using advanced medical technologies. To leverage the growth opportunities in these markets, major players are focusing on expanding their presence in Asia-Pacific, Latin America, and the Middle East.

For instance, in February 2015, Shimadzu Corporation (Japan) established Shimadzu Malaysia Sdn Bhd, an indirectly-owned subsidiary, which strengthened the company’s manufacturing, sales, and application support capabilities in the Indian subcontinents and ASEAN region. Furthermore, Ziehm Imaging GmbH (Germany) entered into an agreement with Sul Imagem (Brazil), to manufacture mobile C-arms in Brazil. This agreement focused on manufacturing the first Ziehm Imaging C-arm—Ziehm 8000 BR—in the country.

Challenge: Survival of new entrants and small players

The intraoperative imaging market is a capital-intensive market. High entry barriers are present in this market for new players majorly due to the requirement of significant capital investments to develop and market new products and technologies. Additionally, in order to survive in the market, players are required to continue making investments to update their existing product portfolios and maintain their competitive positioning.

Established players such as GE (U.K.), Medtronic (Ireland), Siemens Healthcare GmbH (Germany), Koninklijke Philips N.V. (Netherlands), and Brainlab AG (Germany) have extensive product portfolios and a strong brand image, owing to which the majority of end users prefer the products offered by these established companies over those offered by new entrants. This makes it difficult for small players and new entrants to establish their presence in the market.

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Currently, North America dominates the intraoperative imaging market, followed by Europe. However, the Asia-Pacific market is expected to witness the highest growth during the forecast period. The high growth in this market can be attributed to infrastructural improvements in healthcare facilities, growth in the geriatric population, increasing prevalence of orthopedic disorders, and growing disposable incomes in this region.

Major players in the intraoperative imaging market are GE Company (U.S.), Siemens AG (Germany), Koninklijke Philips N.V. (Netherlands), Ziehm Imaging GmbH (Germany), Toshiba Corporation (Japan), Medtronic (Ireland), Brainlab AG (Germany), IMRIS Deerfield Imaging (U.S.), NeuroLogica Corporation (U.S.), and Shimadzu Corporation (Japan).

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