Global Surgical Imaging Market is expected to grow at a CAGR of 5.50% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Surgical Imaging Market by Device (Angiography, C-arms, Endoscopy, Laparoscopy, Surgical Navigation Systems), Modality, Application, and Region” and Global Forecast 2018-2025.
As per the report, the global surgical imaging market is expected to grow from USD 4,800.61 Million in 2017 to USD 7,500.27 Million by 2025 at a CAGR of 5.50% during the forecast period from 2018-2025. North America accounted for the largest revenue share during the forecast period. High adoption of advanced technology, rise in research and development activities, increasing alliances among key players and sophisticated healthcare infrastructure in the region are propelling the growth of the market.
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Major players operating in the market are GE Healthcare, Inc., Koninklijke Philips N.V., Hitachi Ltd., BioSign, Hologic, Inc., Carestream Health, Siemens Healthcare, Canon Medical Systems Corporation, Shimadzu Corp, Fujifilm Medical Systems, Toshiba Corporation, Eurocolumbus, OrthoScan Ziehm Imaging and others. Major firms are incorporating various strategies to increase their market reach. For instance, in June 2017, Philips acquired Electrical Geodesics, Inc. to launch a consolidated portfolio of neurological imaging, therapy and mapping guidance.
The device segment is classified into endoscopy, laparoscopy, angiography, C-arms, and surgical navigation systems. The C-arms segment accounted for the largest share and was valued around USD 2,064.57 million in 2017. Widespread use in various applications such as abdominal and thoracic aortic aneurysm repair, percutaneous valve replacements, visualizing kidney drainage, vascular surgery, cardiac surgery, neuro stimulation, gastroenterology, pain management, orthopedics, and neurology procedures contributing to the growth of the segment. Modality segment is divided into MRI, x-ray, computed tomography, and optical and nuclear imaging. X-ray segment accounted for the largest market share in 2017. Increasing prevalence of chronic disorders, growing geriatric population and demand for better disease treatment is contributing for the growth of the segment. Application segment is bifurcated into cardiovascular, neurosurgeries, ophthalmology, thoracic, urologic, and orthopedic and trauma. The orthopedic and trauma segment is estimated to grow at the highest CAGR during the forecast period. Demand of minimally invasive procedures to reduce complexity and cost of procedures are responsible for the growth of the segment.
High precision of these tools have increased adoption in numerous fields of medical sciences and development of portable surgical devices are expected to enhance the growth of the segment. In addition, rising geriatric population and increasing incidences of chronic disease are boosting the growth of the market. High cost of these instruments may restrict the growth of the market. However, rising adoption of minimally invasive surgical procedures driving the growth of the market in forecast period.
About the report:
The global surgical imaging market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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