Surgical Imaging Market worth $2.4 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Feb. 12, 2021 /PRNewswire/ -- According to the new market research report "Surgical Imaging Market by Technology (Image Intensifier C-arms, Flat Panel Detector C-arms), Application (Orthopedic & Trauma Surgeries, Neurosurgeries, Cardiovascular Surgeries), End User ( Hospital, Surgery Center) - Global Forecasts to 2025", published by MarketsandMarkets™, is expected to reach 2.4 billion by 2025 from an estimated USD 1.8 billion in 2020 at a CAGR of 6.3% during the forecast period.
Browse and in-depth TOC on "Surgical Imaging Market"
99 - Tables
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The major factors driving the growth of this surgical imaging systems market include the advantages of FPDs over image intensifiers, technological advancements, reimbursement cuts for analog radiography systems, and the increasing demand for minimally invasive procedures. However, the high cost of systems is estimated to restrain the growth of this market during the forecast period.
The Surgical Imaging Market includes Tier I and II vendors GE Healthcare (UK), Siemens AG (Germany), Koninklijke Philips (Netherlands), and Ziehm Imaging (Germany) among others. The companies have a large market spread across various countries in North America, Europe, Asia Pacific, and the Rest of the World. The global COVID-19 outbreak has negatively impacted the business to a certain extent. Companies are delaying the purchase of capital expenditure due to current pandemic situation which has led to cash crunch situation for the end users of surgical imaging
The image intensifier technology segment is expected to account for the largest share during the forecast period.
Based on technology, the Surgical Imaging Market has been segmented into image intensifier C-arms and FPD C-arms. The image intensifier C-arms segment commanded the largest share of 75.1% of the market in 2019. However, the FPD C-arms segment is projected to register the highest CAGR during the forecast period. The large market share of this segment can be attributed to the large installed base, low price and low maintenance costs of this systems.
The orthopedic & trauma surgeries application is expected to grow at the highest rate during the forecast period.
Based on application, the market has been segmented into orthopedic & trauma surgeries, neurosurgeries, cardiovascular surgeries, gastrointestinal surgeries, and other applications (urological, endobronchial & thoracic, and maxillofacial surgeries). The orthopedic & trauma surgeries segment is the largest and the fastest-growing application segment in this market. This can be attributed to the increasing popularity of minimally invasive procedures in orthopedic and trauma surgeries and the advantage of 3D navigation in these surgeries through the use of C-arms.
The Hospital end user segment to account for the largest share during the forecast period
Based on end users, the market is divided into hospitals and surgery centers. Hospitals are expected to account for the largest share of the Surgical Imaging Market in 2020, while surgery centers are expected to account for the highest growth rate. The large share of this segment can be attributed to the rising demand for effective disease management, growing surgical procedural volumes in hospitals, and the increasing number of hospitals being set up in developing countries.
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North America regional segment to account for the largest market share of the Surgical Imaging Market
Geographically, the Surgical Imaging Market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World. North America is the largest regional market for surgical imaging systems, followed by Europe. The large share of the North American market can be attributed to the significant growth in hospital expenditure, the increasing incidence of overuse sports injuries, rising prevalence of CVD, and the increasing number of hip and knee replacement surgeries in the region.
Some of the prominent players operating in the Surgical Imaging Market include vendors GE Healthcare (UK), Siemens AG (Germany), Koninklijke Philips (Netherlands), and Ziehm Imaging (Germany)
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