Market Overview:
The Surgical Imaging Market size is expected to grow from USD 3.7 Billion in 2022 to USD 4.7 Billion by 2030, at a CAGR of 3 % during the forecast period.
Surgical imaging has gained significant popularity among surgeons in recent years due to its ability to provide detailed pictures of internal body areas, enhancing surgical procedures. The integration of Virtual Reality (VR) and Augmented Reality (AR) in healthcare, along with real-time visualization platforms, has improved the surgical experience, leading to greater ergonomics, efficiency, and safety.
The market growth is driven by factors such as the growing geriatric population, increased awareness of radiography procedures, and rising prevalence of chronic conditions that require critical care diagnosis. Additionally, medical tourism and advancements in hospital infrastructure present opportunities for key players. Image intensifier C-Arm is expected to dominate the market share in the coming years. Moreover, the increasing demand for minimally invasive procedures worldwide, coupled with the expansion of patient populations and healthcare facilities in emerging countries, further fuels the growth of the surgical imaging market. Technological advancements, such as the launch of O-arms and G-arms, also contribute to this positive trend.
Top Key Players for Surgical Imaging Market:
Medtronic (Ireland), GE Healthcare (US), Olympus Corporation (Japan), Siemens AG (Germany), Hologic Inc., (US), Canon Medical Systems Corporation, Surgical Imaging Associates LLC (US), Shimadzu Corporation (Japan), General Electric (US), Allengers Medical Systems Limited (India), CONMED Corporation (US), CANON MEDICAL SYSTEMS CORPORATION (Japan), Agilent Technologies, Inc. (US), and other major players.
Market Dynamics and Factors for Surgical Imaging Market:
Drivers:
Worldwide Increasing Geriatric Population
The worldwide increasing geriatric population is a significant driver in the surgical imaging market. Age-related health issues, complex medical needs, and rising demand for joint replacements require advanced imaging technologies for accurate diagnosis and precise surgical planning, leading to improved patient outcomes and a higher demand for healthcare services.
Opportunities:
Development of Advanced Technology
The development of advanced technology presents a promising opportunity in the surgical imaging market. Breakthroughs in imaging modalities like VR, AR, and real-time visualization platforms have enhanced surgical experiences, ensuring greater efficiency and safety. Integration of integrated imaging systems and the launch of innovative products further contribute to market growth. This continuous technological progress opens doors for improved imaging accuracy, minimally invasive procedures, and better patient outcomes, fueling the demand for surgical imaging solutions worldwide.
Segmentation Analysis of the Surgical Imaging Market:
By Technology, the image intensifier C-arms segment dominated the market due to its significant share. On the other hand, the growing popularity of the FPD C-arms segment can be attributed to its extensive installed base, cost-effectiveness, and low maintenance requirements. These factors make FPD C-arms an attractive choice for healthcare facilities
Regional Analysis of the Surgical Imaging Market:
the Asia Pacific (APAC) region is expected to experience substantial growth in the global surgical imaging market in the upcoming period. Also, North America remains the largest market, APAC is projected to achieve the highest CAGR. The region's rapid growth can be attributed to the increasing incidence of chronic diseases, improvements in healthcare infrastructure, and rising demand from key markets like Japan, China, and India.
Key Industry Development:
In September 2022, Olympus Corporation announced the launch of VISERA ELITE III, its newest surgical visualization platform that addresses the needs of healthcare professionals (HCPs) for endoscopic procedures across multiple medical disciplines.
In March 2021, GE Healthcare announced 510(k) clearance from the FDA for OEC 3D, a surgical imaging system capable of 3-D and 2-D imaging. It offers precise volumetric images for spine and orthopedic procedures and combines the benefits of 2-D imaging with greater efficiency to increase access and usability to 3-D.
