Surgical Imaging Market Revenue Growth Majorly Driven by Increasing Number of Complex Surgeries Performed Across the Globe: Reports and Data

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Sep 30, 2021, 09:00 ET

NEW YORK, Sept. 30, 2021 /PRNewswire/ -- Reports and Data has published its new report titled "Surgical Imaging Market By Technology (Image Intensifier C-Arms, Flat-Panel Detector C-Arms), By Application (Orthopedic & Trauma Surgeries, Cardiovascular Surgeries, and Others), By End-use (Hospitals, Ambulatory Surgical Centers, Academic & Research Institutes), and By Region Forecasts To 2028."

According to Reports and Data, the global surgical imaging market size was USD 5.76 billion in 2020 and is expected to reach USD 9.94 billion in 2028 and register a revenue CAGR of 7.1% during the forecast period, 2021-2028.

Increasing incidence of complex injuries, growing need for better accessibility during surgical procedures, and availability of favorable reimbursement policies are some key factors driving market growth

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Drivers, Restraints, and Opportunities

Surgical imaging is used for diagnosis, planning, intraoperative navigation, and post-operative evaluation, and helps surgeons perform safer and less invasive procedures more efficiently. Over the recent years, rapid technological advancements in instrumentation and imaging have enhanced ability of surgeons to diagnose and treat patients with better precision. Surgical imaging offers greater control over surgical procedures, enables real-time feedback, and reduces trauma or damage to the tissues while gaining access to the target area. Increasing number of high-precision and complex surgeries performed across the globe and increasing advancements in image-processing techniques are key factors expected to drive market revenue growth over the forecast period.

Increasing complexity of procedures and availability of vast volumes of diagnostic information and data has led to development of robust imaging systems through a combination of advanced computing and engineering technology. Surgical imaging has opened up new possibilities for cardiovascular surgery and neurosurgery. Rapid advancements in optical imaging systems and contrast-enhancing methods have further enhanced surgical vision and improved outcomes of surgical procedures. Various intraoperative imaging systems have been introduced over the years, with increasing emphasis on quality and timeliness of imaging. Mobile fluoroscopic c-arms and fixed c-arms are specifically designed for interventional applications and these systems have become common in specialized surgical suites. They are widely used for guiding during needle placement procedures such as biopsies. Use of video cameras in operating rooms has also increased due to their efficient integration with endoscopes and surgical microscopes. Increasing preference for minimally-invasive surgeries and progress of interventional radiology is further contributing to revenue growth of the surgical imaging market.

Surgical imaging plays a critical role in ensuring surgeons receive only relevant anatomical and physiological information for efficient monitoring of surgical procedures. In certain complex surgeries, surgeons can be overloaded with vast amounts of information obtained from medical imaging modalities and patient monitoring systems and this has further increased the need to understand the relevance of each information. State-of-the-art surgical imaging systems have been deployed in healthcare facilities in various countries and this enables numerous benefits to be leveraged such as limited exposure to radiation, improved surgical efficiency, better outcomes, enhanced precision of minimally invasive surgeries, and faster and better results as compared to traditional systems. Availability of real-time information further enables surgeons to take necessary step immediately, offer better patient care, save on costs, and ensure higher level of patient safety. Increasing demand for advanced healthcare facilities has further boosted adoption of surgical imaging systems and is expected to create lucrative opportunities for market players in the region. However, high costs associated with advanced surgical equipment and imaging systems and stringent regulations regarding product approvals are some key factors expected to restrain market growth over the forecast period.

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COVID-19 Impact Analysis

Social distancing and restrictions severely disrupted businesses and operations
Lockdowns caused disruptions in transportation and logistics
Impacted manufacturing activities and mining operations globally
Took a toll on economy of various countries
Caused sudden and drastic downturn in economic activity
Disrupted agriculture, fisheries, dairy, and other sectors
Caused loss of employment and financial crisis
Supply impacts were further compounded owing to reduced disposable income
Emergence of variants continue to cause concerns and impact normal routines

Image intensifier C-arm segment to Account for Largest Revenue Share:

Image intensifier c-arms segment is expected to account for largest revenue share over the forecast period, attributed to increasing adoption of image intensifier c-arms for intraoperative imaging during cardiology, orthopedics, and vascular surgical procedures. Intensifying effect enables surgeons to clearly see the objects or anatomical parts during a surgical process to enable more accurate placement of implants and improve feasibility of image-guided surgeries.

Increasing Use of Surgical Imaging for Orthopedics and Trauma Surgeries:

Orthopedics and trauma surgeries segment is expected to register significantly robust revenue growth over the forecast period, attributed to increasing number of orthopedic surgeries performed across the globe due to rising number of musculoskeletal diseases and bone injuries. Intraoperative imaging is crucial to understand if screws and implants are positioned correctly during orthopedic trauma surgery and this has further boosted adoption of mobile c-arms to produce high quality images during surgical intervention.

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Hospitals Segment to Dominate Other End-Use Segments:

Hospitals segment is expected to dominate other end-use segments over the forecast period owing to availability of advanced surgical imaging systems, rapid rise in number of minimally invasive surgical interventions, and increasing number of patients admitted in hospitals. In addition, emergency rooms in hospitals are equipped with mobile c-arms to provide faster and more efficient treatment in cases of traumatic road accidents or brain injuries that require immediate medical attention. Various advantages of mobile c-arms such as portability, easy handling, and compact size is further boosting adoption of surgical imaging systems in hospitals.

North America to Account for a Significantly Large Revenue Share:

North America is expected to account for a significantly large revenue share over the forecast period owing to increasing number of complex surgeries performed, presence of state-of-the-art healthcare facilities, availability and adoption of technologically advanced imaging systems, and implementation of favorable reimbursement policies. In addition, increasing investment to accelerate R&D activities to develop more advanced imaging systems and presence of major players are some other key factors driving revenue growth of the market in the region.

Asia Pacific to Lead in Terms of CAGR:

Asia Pacific market revenue is expected to expand at a robust revenue CAGR over the forecast period, attributed to rising preference for minimally invasive surgeries among patients, increasing incidence of cardiovascular and orthopedic disorders, and presence of large number of imaging centers in countries in the region. In addition, implementation of government initiatives to increase awareness regarding advantages of low-dose surgical imaging systems and development of robust healthcare infrastructure are some other key factors fueling revenue growth of APAC market.

Major Companies in the Market Include:

GE Healthcare Inc.
Siemens Healthineers AG
Hologic Inc.
FUJIFILM Corporation
Carestream Health Inc.
Koninklijke Philips NV
Carestream Health Inc.
Shimadzu Corporation
Ziehm Imaging Inc.
Medtronic PLC
Canon Medical Systems Corporation

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Market Segmentation:

For this study, Reports and Data has segmented the surgical imaging market based on technology, application, end-use, and region:

Technology Outlook (Revenue, USD Billion; 2018-2028)

Image Intensifier C-Arms
Flat Panel Detector C-Arms (FPD)

Application Outlook (Revenue, USD Billion; 2018-2028)

Orthopedic & Trauma Surgeries
Cardiovascular Surgeries
Neurosurgeries
Gastroenterology Surgeries
Others

End-Use Outlook (Revenue, USD Billion; 2018-2028)

Hospitals
Diagnostic Centers
Academic & Research Institutes

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Regional Outlook (Revenue, USD Billion; 2018–2028)

North America

U.S.
Canada
Mexico

Europe

Germany
France
U.K.
Italy
Spain
Sweden
BENELUX
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Rest of APAC

Latin America

Brazil
Rest of LATAM

Middle East & Africa

Saudi Arabia
U.A.E.
South Africa
Israel
Rest of MEA

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Some points on how the report benefits stakeholders:

The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.

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