Intraoperative Imaging Market Research, 2031
The global intraoperative imaging market size was valued at $2.0 billion in 2021, and is projected to reach $3.8 billion by 2031, growing at a CAGR of 6.5% from 2022 to 2031. The intraoperative imaging system is an optical imaging technology, which is used by surgeon to get timely and in-depth image of surgical site during the surgery. Intraoperative imaging guides surgeon by providing image of organ, tissue, or cell on which surgeon perform surgery. Various types of intraoperative imaging devices include intraoperative ultrasound, intraoperative CT, intraoperative MRI, intraoperative X-ray, and mobile C-arm. These devices are used in different surgical procedures such as cancer surgery, neurosurgery, cardiac surgery, and gastrointestinal surgery.
The growth of the global intraoperative imaging market share is majorly driven by increase in the number of surgeries, rise in prevalence of chronic diseases, and increase in the number product launch by different key players. Moreover, increase in the geriatric population contributes toward the growth of the market. This is attributed to the fact that aged individuals are highly vulnerable to chronic diseases, which, in turn, escalated the need for intraoperative imaging devices, thus driving the growth of the market. For instance, according to the report share by the World Health Organization (WHO) in October 2021, by 2030, 1 in 6 people in the world will be aged 60 years or over. Moreover, according to the Journal of JAMA Network Open, in 2021, about 32% of surgical procedure in the U.S. were reported to have conducted in patients aged more than 65 years.
In addition, advancements in intraoperative imaging devices and adoption of these technologies in hospital and ambulatory surgical centers for better outcome of surgery fuel the market growth. Moreover, initiatives taken by government for development of the healthcare industry boosts the market growth. Increase in prevalence of chronic diseases such as cancer and cardiovascular diseases leads to increase in the number of surgical procedures, thus propelling the intraoperative imaging market growth. For instance, according to report share by the American Society of Clinical Oncology (ASCO), in February 2022, an estimated number of population diagnosed with brain and spinal cord tumor in the U.S. is 25,050 adults in which 14,170 men and 10,880 women. Furthermore, increase in number of orthopedic surgeries propels the market for intraoperative imaging, as intraoperative devices such as intraoperative X-ray and C-arm are majorly used in orthopedic surgeries. For instance, as per the report shared by the Canadian Joint Replacement Registry (CJRR), approximately more than 75,000 knee replacement and 63,000 hip replacement surgeries were performed in Canada from 2019 to 2020. This report further states 2.4% increase in the hip replacement surgery from 2019 to 2020.
Rise in the number of key players to manufacture intraoperative imaging devices and increase in R&D activities in medical devices propel the intraoperative imaging market growth. For instance, Brainlab AG, a medical technology company, in 2019, announced the launch of Loop-X, which is a mobile intraoperative imaging robot. Moreover, Fujifilm Holding, a conglomerate company, announced the launch of persona CS compact mobile C-arm imaging solution in November 2021. It is designed for rapid and seamless positioning in operating room (OR) environments. Acquisition and partnership are the key strategies adopted by the major players to strengthen their foothold in the global intraoperative imaging market. For instance, in 2021, General Electric Company (GE)—a medical technology company—announced the acquisition of BK Medical, an advanced surgical visualization company, to increase portfolio of GE Company in the healthcare segment.Furthermore, in 2021, Philips, a healthcare technology company, announced the launch of Persona CS mobile fluoroscopy system, which is an intraoperative imaging product.
The use of advanced technology in manufacturing of intraoperative imaging devices play an important role in the global healthcare sector. Key players are manufacturing new intraoperative imaging devices to get better post-surgical outcome. For instance, in 2021, Atrium Health, a healthcare company, announced the use of intraoperative magnetic resonance imaging technology in the neuroscience care center. Adoption of these new technologies has increased among end users such as hospitals and clinics, which is anticipated to offer lucrative opportunities for the growth of intraoperative imaging market.
Moreover, increase in the number of cancer surgeries contributes toward the growth of the market. This is attributed to the fact that intraoperative imaging is used in different cancer surgeries to identify small lesions and precise intraoperative localization of tumors, which are essential for surgeons to make adequate surgical planning. The intraoperative imaging device guides the surgeons for placement of implants in the patient body. In addition, presently, the use of C-arm machine has increased among surgeons in orthopedic surgeries to improve surgical outcome. Furthermore, advancements in technology in the medical device sector and rise in demand for minimal invasive procedure are anticipated to the growth of the intraoperative imaging market. For instance, in neurosurgeries such as brain tumor removal, neurosurgeons rely on intraoperative magnetic resonance imaging (iMRI) to identify location of brain tumor, lesions present at the site, and to identify hematoma. Thus, increase in number of brain tumor removal procedure leads to the growth of intraoperative imaging market.
Global Intraoperative Imaging Segmentation
The intraoperative imaging market is segmented into type and region. By type, the market is categorized into intraoperative Ultrasound, intraoperative CT, intraoperative MRI, and others.
Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Depending on type, the others segment dominated the intraoperative imaging market in 2021, and this trend is expected to continue during the forecast period, owing to increase in the use of intraoperative X-ray and mobile C-arm in surgical procedure.However, the intraoperative CT segment is expected to witness considerable growth during the forecast period, owing to increase in the number of neurosurgery and cancer surgeries in which intraoperative CT imaging is use to identify lesions and tumors.
North America garnered a major share in the Intraoperative imaging market in 2021, and is expected to continue to dominate during the intraoperative imaging market forecast period, owing to increase in number of intraoperative imaging industry, advancement in technology in intraoperative imaging devices, and increase in number of chronic disease. However, Asia-Pacific is expected to register highest CAGR of 6.5% from 2022 to 2031, owing to increase in geriatric population and rise in surgical procedures.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the intraoperative imaging market analysis from 2021 to 2031 to identify the prevailing intraoperative imaging market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the intraoperative imaging market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global intraoperative imaging market trends, key players, market segments, application areas, and market growth strategies.
Intraoperative Imaging Market Report Highlights
Key Market Players
Koninklijke Philips N.V., carestream health, Siemens Healthineers AG, Brainlab AG, General Electric Company, carl zeiss meditec ag, Fujifilm Holdings, Medtronic, Inc., Ziehm Imaging GmbH, Stryker Corporation
According to the insights of the CXOs of the leading companies, intraoperative imaging technology is gaining high traction in the global market. For instance, Globus medical, a medical device company, in 2022, announced the first elective surgery with Excelsius 3D, which is an intraoperative imaging platform. According to the Journal of Medical Physics, in 2020, it was observed that the mobile isocentric C-arm is used along with intraoperative cone-beam computed tomography to conduct surgical procedure such spinal surgery.
The CXOs further added that North America is expected to witness highest growth, in terms of revenue, owing to technological advancement in medical device sector and increase in number of chronic diseases.
Asia-Pacific was the second largest contributor to the market in 2021, and is expected to register the fastest CAGR during the forecast period, owing to increase in number of geriatric population and rise in the prevalence of surgical procedure