Surgical Imaging Market

Global Surgical Imaging Market Size (2023 to 2028)

The size of the global surgical imaging market is expected to grow from USD 2.37 billion in 2023 to USD 3.33 billion by 2028, rising at a CAGR of 7.04% from 2023 to 2028.

The COVID-19 outbreak has had a massive impact on several industries worldwide. This results in a breakdown of the supply chain and distribution of products among different countries.  To prevent the spread of the virus, industries are working on devices that help COVID-19 prevention. Several surgeries have stopped and been postponed due to this pandemic. Increasing use of personal protective equipment (PPE) and social distancing, as well as deep cleaning of COVID-exposed equipment, are significant factors for reducing the spread of the virus.  There was a decline in system installation and utilization at the beginning of the pandemic. Mobile C-arm devices have also seen a decline during this pandemic. Around 28 million surgeries were postponed worldwide, according to research by the CovidSurg Collaborative. The American Hospital Association estimated an average loss of revenues to US hospitals of USD 50.8 billion per month in March 2020 due to failure of elective procedures. As a result, the market has had negative growth during this pandemic.

MARKET DRIVERS:

The growing adoption of technological advancements is primarily fuelling the growth of the surgical imaging market.

An increase in demand for technological advancements and integrated imaging systems, such as the new launch of O-arms n G-arms, drives the market forward. Surgical experience is improved by integrating Virtual Reality (VR) and Augmented Reality (AR) in healthcare. In addition, the increasing advancement of real-time visualization platforms is used to improve surgical treatments. Ongoing research and development, as well as innovation in clinical indications of O-arm imaging in cranial, orthopedic, ENT, and trauma-related applications, are contributing to the surgical imaging market expansion shortly.

The rising cardiovascular diseases are anticipated to boost the surgical imaging market.

Increase in the prevalence of several chronic diseases that need critical care diagnosis. Chronic diseases, such as cardiovascular diseases, are more in the aging population. According to the World Health Organization (WHO), globally, more death is due to cardiovascular diseases (CVDs); an estimated 17.9 million each year suffer from cardiovascular diseases. In addition, four out of six cardiovascular deaths are due to strokes and heart attacks, and one-third of deaths occur prematurely in people under 70.

In addition, growing demand for minimally invasive procedures, increasing use of Flat Panel Detector C-arms, technological advancements and availability of advanced techniques, growing demand for data-integrated imaging systems, increasing high cholesterol and osteoporosis diseases, rise in the prevalence of sports injury, increasing government funding, Y-O-Y growth in the medical tourism market and increase in the number of emerging markets, growing geriatric population and awareness regarding radiography procedures are the factors that provide opportunities for the market growth. Furthermore, adopting advanced techniques like robotic surgery and imaging during surgery is anticipated to fuel the surgical imaging market expansion in the coming years.

MARKET RESTRAINTS:

Strict approval procedures and the high cost of devices are the two major restraints of the surgical imaging market. In addition, insufficient medical infrastructure and lack of awareness about these devices are the challenges in the surgical imaging market.

REPORT COVERAGE:

This research report on the global surgical imaging market has been segmented and sub-segmented based on technology, modality type, application, end-users & region.

Global Surgical Imaging Market Analysis – By Technology:

• Image Intensifier C-arms
• Flat-Panel Detector C-arms (FPD C-arms)

Based on the technology, the flat panel detector c-arms segment is predicted to showcase domination in the market due to technological advancement in medical devices, advantages offered by flat panel detector c-arms over the image intensifier c-arm, and easy availability of FPD c-arm are majorly driving the surgical imaging market growth. Furthermore, FPD images can be displayed and analyzed with the latest software advances. In addition, FPD has no moving parts or vibration; all these factors contribute to the market growth.

Global Surgical Imaging Market Analysis – By Modality Type:

• Mobile C-Arm
• Mini C-Arm

Based on the modality type, the mobile C-arm segment accounted for a significant share of the surgical imaging market in 2022. Mobile c-arms are used to move around the patient to achieve the optimum angle for a high-quality image while keeping the patient comfortable. Mobile C-arms are also used in different operating rooms. There are various sizes and costs of c-arms available in the market. GE Healthcare’s Ziehm Imaging’s Vision RFD and OEC 9900 Elite are the most expensive mobile C-arms. These C-arms provide large image displays which enable a precise evaluation of the images while allowing surgeons to view and analyze these images at a distance.

Global Surgical Imaging Market Analysis – By Application:

• Orthopedic & Trauma Surgeries
• Cardiovascular Surgeries
• Neurosurgeries
• Gastrointestinal Surgeries

The neurosurgeries segment led the surgical imaging market in 2022 owing to the adoption of c-arm during neuro surgeries, a rise in the number of neurosurgical hybrid operating rooms, and an increase in the target population.

Global Surgical Imaging Market Analysis – By End-User:

• Hospitals
• Surgery Centers & Clinics

Based on the end-user, the hospitals segment led the market for surgical imaging in 2022, and the dominance 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 and underdeveloped countries.

Global Surgical Imaging Market Analysis – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Geographically, the North American surgical imaging market had the largest share in the global market in 2022 and is expected to continue showing domination during the forecast period. The growth of this regional market is due to well-developed healthcare infrastructure, the adoption of advanced surgical imaging technology, the increasing number of cases of gastrointestinal and neurological disorders, the rising prevalence of chronic diseases and genetic disorders as well as the presence of state-of-the-art healthcare infrastructure and reimbursement availability, favorable government policies supporting the purchase of advanced surgical imaging devices and reimbursement in North America. As per American Heart Association, in 2018, cardiovascular diseases accounted for nearly 836,548 deaths in the United States. This is due to some significant risk factors, such as smoking, increased consumption of alcohol, a sedentary lifestyle, and high blood pressure in the United States. Furthermore, heart disease & Stroke Statistical Fact Sheet 2020 predicts that a minimum of 40,000 infants are expected to be affected yearly by congenital heart defects in the United States.

Asia-Pacific is predicted to have the highest CAGE during the forecast period owing to the high population, awareness about surgical imaging, development in healthcare infrastructure, and increase in demand for minimally invasive procedures. India and China are the two regions with the most significant portion in Asia due to the increasing burden of cancer, healthcare infrastructure improvements, a less-stringent regulatory environment, and growing medical tourism in these regions.

The European region is another lucrative regional market in the global surgical imaging market and is anticipated to register a healthy CAGR during the forecast period. Germany dominates the European market and continues to invest in surgical imaging to bring change in patient care and treatment. In addition, the European Union funds the eastern part to carry out its research activities. Several mid-sized surgical imaging equipment manufacturers are in Europe, including Eurocolumbus Srl (Italy) and Cat Medical Systems S.P.A.

TOP COMPANIES IN THIS MARKET:

General Electric (GE), Genoray Co., Ltd., Siemens AG, Hologic, Inc., Koninklijke Philips N.V., Whale Imaging, Inc., Ziehm Imaging GmbH, Canon, Inc., Allengers Medical Systems Limited, and Medtronic Plc are some of the prominent companies operating in the global surgical imaging market profiled in this report.

RECENT HAPPENINGS IN THIS MARKET:

• In 2021, U.S. FDA approved OEC 3D, a new surgical imaging system capable of 3D and 2D imaging, as announced by GE Healthcare. OEC 3D will provide a standard for interoperative 3D imaging with correct volumetric images for spine and orthopedic surgeries.
• In 2022, Siemens Healthineers presented its latest innovations at Arab Health 2022, which helps healthcare professionals to improve patient care and AI to revolutionize clinical decision-making.