San Francisco, 24 October 2018 – The global image-guided therapy systems market size is expected to reach USD 4.95 billion by 2025, according to a new report by Grand View Research, Inc. The market is estimated to exhibit a healthy CAGR of 6.3% during the forecast period. Growing geriatric population base and cases of chronic diseases are expected to boost the market demand. Other factors propelling the market growth include rising preference for minimally invasive surgeries and technological advancements in image-guided therapy systems. Various initiatives undertaken in the area of cancer radiotherapy is also one of the important factors driving the market.
New product launches by major companies is also having a positive impact on the market development. For instance, in February 2017, Philips launched a next-generation image guided therapy platform called Azurion for advancing patient care. Growing adoption of such advanced systems is expected to drive the market. Development of this system was aimed at optimizing interventional lab performance, thereby ensuring superior care delivery. Increasing number of initiatives undertaken by public and private firms in the area of cancer radiotherapy is also estimated to have a positive impact on the market growth.
In addition, many academic institutions are also investing in cancer radiotherapy projects for increasing the effectiveness of treatment therapies. This is also likely to contribute toward market expansion. The development of Image-guided Therapy Program by the Brigham and Women’s Hospital aimed at advancing imaging and therapeutic technologies for developing minimally invasive surgical and interventional techniques is an example of one such initiative.
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Further key findings from the study suggest:
- Endoscopes segment accounted for the largest revenue share in 2017 owing to technological advancements, high volume of endoscope-guided surgeries, and rising preference for minimally invasive surgeries
- Cardiac surgery emerged as the largest application segment in 2017. This growth is attributed to rising prevalence of target diseases, preference for minimally invasive cardiac surgeries, and R&D initiatives aimed at developing real-time cardiac interventions systems
- Hospitals emerged as the largest end-use segment in 2017. However, Ambulatory Surgery Centers (ASCs) segment is projected to expand at the fastest CAGR of 7.3% over the forecast period
- North America emerged as the largest regional market. Asia Pacific is anticipated to exhibit the fastest growth rate of 7.6% during the forecast period
- The market is consolidated with the presence of Koninklijke Philips N.V., Siemens Healthineers, GE Healthcare, and Fujifilm Holdings Corporation accounting for the majority market share. Analogic Corporation; Varian Medical Systems, Inc.; Brainlab AG; Medtronic PLC; and Stryker Corp. are several other prominent companies in the market.
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Grand View Research has segmented the global image-guided therapy systems market on the basis of product, application, end use, and region:
Image-guided Therapy Systems Product Outlook (Revenue, USD Million, 2014 – 2025)
- Computed Tomography (CT) Scanners
- Ultrasound Systems
- Magnetic Resonance Imaging (MRI)
- X-ray Fluoroscopy
- Positron Emission Tomography (PET)
- Single Photon Emission Computed Tomography (SPECT)
Image-guided Therapy Systems Application Outlook (Revenue, USD Million, 2014 – 2025)
- Cardiac Surgery
- Orthopedic Surgery
- Oncology Surgery
Image-guided Therapy Systems End-use Outlook (Revenue, USD Million, 2014 – 2025)
- Ambulatory Surgical Centers (ASCs)
- Research & Academic Institutes
Image-guided Therapy Systems Regional Outlook (Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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