Surgical Imaging Market Outlook, Key Financials, Segmental Revenue & Geographical Revenue Till 2026

The global surgical imaging market size is projected to reach USD 7.3 billion by 2026 expanding at a CAGR of 5.2%, according to a new report by Grand View Research, Inc. Technological advancements and growing demand for minimally invasive surgeries are the key factors augmenting the market growth. Surgical imaging can be used with different modalities, such as optical mode, ultrasound, radiography, and nuclear medicine. Rising scope of applications of imaging modules in a wide range of surgery procedures is expected to create significant opportunities.

Demand for surgical imaging systems is expected to show a steep growth due to high prevalence of chronic diseases including cancer and lifestyle disorders, and rising geriatric population, and demand for non-invasive and minimally invasive surgical methods. The endoscopy and laparoscopy devices are extensively used in minimally invasive surgeries. Key companies in the global market use different strategies to sustain the competition. For instance, in June 2017, Philips acquired Electrical Geodesics, Inc. to launch a portfolio with integrated neurological imaging, therapy, and mapping guidance.

Further key findings from the report suggest:

• The X-ray segment is expected to lead the market on account of increasing prevalence of chronic diseases and demand for surgical imaging procedures for better treatment
• The demand for mobile X-ray devices is expected to grow rapidly owing to rising geriatric population and need for bedside imaging
• Orthopedic and trauma is anticipated to be the largest and fastest-growing application segment over the forecast years
• C-arms is expected to be the fastest-growing device segment in the global surgical imaging market
• North America accounted for the largest share with U.S. capturing the largest share of the regional market in 2017
• Some of the key companies include Siemens Healthcare; Hitachi Ltd.; GE Healthcare; Koninklijke Philips N.V.; Canon Medical Systems Corporation; Hologic, Inc.; Medtronic, PLC; and Shimadzu Corporation

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On the other hand, stringent approval procedures and high costs associated with these devices may have a negative impact on market expansion. However, rising adoption of minimally invasive surgical procedures will boost the demand for these systems, thereby augmenting the market development. Furthermore, the availability of advanced techniques is likely to fuel demand in the coming years.

The governments in developed regions have well-established health insurance frameworks. The U.S. has high healthcare coverage for more than 300 million of its population. A strong insurance framework puts a less financial burden on the people to undergo surgeries and this promotes the adaption of innovative technologies, such as robotic surgeries and surgical imaging.

These factors are also projected to impel market growth in the years to come. Governments in developing economies, such as Brazil and Mexico, are focusing more on providing cost-effective and advanced surgical imaging solutions for better healthcare solutions. However, high costs associated with surgical imaging equipment may hinder their adoption.

On the basis of device, the market has been divided into endoscopy, laparoscopy, angiography, C-arms, and surgical navigation systems. Followed by surgical navigation systems, the C-arms segment accounted for the largest share of the global market in 2017. C-arms is likely to maintain its dominance and are also expected to be the fastest-growing device segment over the forecast period.

Endoscopy and laparoscopy devices are used extensively in minimally invasive surgeries. Some of the major c-arms applications include abdominal and thoracic aortic aneurysm repair, visualizing kidney drainage, percutaneous valve replacements, vascular surgery, cardiac surgery, neurostimulation, gastroenterology, pain management, orthopedics, and neurology procedures.

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On the basis of modality, the market is categorized into MRI, x-ray, computed tomography, and optical and nuclear imaging. X-ray is expected to be the dominant segment on account of the increasing prevalence of chronic disorders and the demand for these procedures for better disease treatment. X-ray devices are further segmented into stationary, handheld, and mobile devices. In addition, the high prevalence of Cardiovascular Diseases (CVDs) and dental problems is boosting the demand for these devices. The growing geriatric population and rising need for bedside imaging are likely to boost the demand for mobile x-ray tools.

On the basis of application, the market is segregated into cardiovascular, neurosurgeries, ophthalmology, thoracic, urologic, and orthopedic and trauma. The orthopedic and trauma segment accounted for the largest market share in 2017 and is anticipated to register the highest CAGR during the estimated time period. Fiber-optic cameras are being used in minimally invasive procedures to reduce the complexity and cost of intrathoracic procedures.

Treatment of almost every intrathoracic condition can be performed effectively by a video-assisted approach. Video-assisted thoracoscopic and inflexible bronchoscopic medical procedures help reduce postoperative pain and enable a faster recovery process. Minimally invasive neurosurgeries use little, adaptable, lit cylinders called endoscopes for imaging different parts of the skull base or spinal cord. Endoscopes fill in as little magnifying lens, amplifying the basic anatomical structures, thereby enabling surgeons to see the infected zones requiring a treatment.

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