Intraoperative Imaging Market By Product (iCT, Intraoperative Ultrasound, iMRI, C-Arms Systems), By Application (Neurosurgery, Orthopedic Surgery, ENT Surgery, Oncology Surgery) By End-use, And Segment Forecasts, 2014 - 2025Report

Intraoperative Imaging Market By Product (iCT, Intraoperative Ultrasound, iMRI, C-Arms Systems), By Application (Neurosurgery, Orthopedic Surgery, ENT Surgery, Oncology Surgery) By End-use, And Segment Forecasts, 2014 - 2025

Published: June 2017  |  90 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-484-0

Industry Insights

The global intraoperative imaging market size was estimated at USD 2.6 billion in 2016. Rising adoption of minimally invasive surgeries, including image-guided intervention surgeries, is a major factor contributing toward the growth of the market.

Minimally invasive surgery has various advantages over traditional surgeries such as smaller incisions, shorter hospital stays, rapid wound healing, less pain, and minimum surgical wounds. Minimally invasive surgery coupled with intraoperative imaging provides real-time imaging and ensures that surgeons are treating the precise areas they need to. Thus, the popularity of these procedures is rising gradually, which, in turn, is anticipated to fuel market growth.

U.S. intraoperative imaging market by product, 2014 - 2025 (USD million)

U.S. intraoperative imaging market

Rising prevalence of chronic diseases, such as neurological, cardiac, and orthopedic disorders, is expected to propel market growth. As stated by Alzheimer's Association, around 5.4 million people in the U.S. are suffering with Alzheimer’s disease in 2016 and this number is expected to reach around 16 million by 2050. Also, according to American Academy of Orthopedic Surgeons, around 581,000 total knee replacements are performed each year in the U.S. Thus, there is high demand for advanced intraoperative imaging for treatment of these chronic disorders, which is projected to boost the market.

Stringent government regulations for manufacturing intraoperative medical imaging devices could hinder the growth of the market. In addition, frequent product recalls also hamper the growth of the market. For instance, in July 2016, FDA issued a Class II device recall for Deerfield Imaging’s Neuro II-SE, Neuro III-SV, iMRI 1.5T A, and iMRI 3TS because their emergency helium venting lines were suspected to be incorrectly installed. A product recall can adversely affect a manufacturer’s business and reputation. This could also affect customer loyalty for other products of the company. In addition, recalls also question the efficiency of new products and thereby delay their adoption by surgeons. Thus, product recalls could hinder the growth of the market globally.

Product Insights

In 2016, the ICT systems segment was the largest revenue-grossing segment of the market owing to high application of these products in neurology and spinal & orthopedic surgeries. In addition, high adoption of minimally invasive surgeries is expected to boost market growth.

Manufacturers are focusing on the introduction of innovative products to cater to unmet needs of surgeons. Innovative technologies such as Intraoperative Magnetic Resonance Imaging (iMRI) and mobile C-arms provide high efficacy, accuracy, and image quality during surgery. For instance, in February 2014, IMRIS, Inc. received U.S. Food and Drug Administration clearance for its new VISIUS Surgical Theatre, which delivers better image quality, facilitates fast 3D image acquisition, and offers improved ease of handling during neurosurgical procedures, with iMRI.

The iMRI systems segment is expected to showcase highest CAGR over the forecast period due to technological advancements that provide 3D image acquisition, higher quality visualization, and exquisite quality imaging. For instance, IMRIS iMRI provides superior quality imaging and visualization of targeted brain tissue and helps precisely detect white matter tracts & eloquent areas of the brain.

Availability of well-developed healthcare infrastructure and higher healthcare expenditure in developed countries such as the U.S., Germany, UK, France, and Japan are expected to propel growth in the sector. According to Centers for Medicare & Medicaid Services, national health expenditure of the U.S. was about USD 3.2 trillion in 2015, which accounted for around 17.8% of the Gross Domestic Product (GDP). Thus, higher healthcare expenditure and accessibility to better quality healthcare facilities are anticipated to support adoption of advanced intraoperative imaging systems.

Application Insights

The neurosurgery segment dominated the market in terms of revenue in 2016 due to rising prevalence of neurological disorders such as brain tumors, Parkinson's disease, epilepsy, and stroke. Intraoperative imaging enables a surgeon perform procedures such as deep brain stimulation, lesion, neural grafting, and tissue transplant surgery with high accuracy and efficiency, based on the medical condition of a patient.

U.S., Germany, France, UK, Japan, and China are expected to account for the highest usage of intraoperative imaging. Rising burden of chronic diseases, large investment by governments for providing good-quality healthcare facilities, and availability of expert surgeons in these countries is anticipated to contribute toward market growth.

Germany intraoperative imaging market share, by application, 2016 (%)

Germany intraoperative imaging market

The oncology surgery application segment is projected to grow at a significant rate during the forecast period. The rising prevalence of cancer is expected to drive demand for advanced diagnostics and therapeutic products, including intraoperative imaging, which is expected to drive growth.

Increasing popularity of intraoperative imaging in developing countries such as China, India, South Africa, Brazil, and Argentina is expected to drive the market growth. Governments of these countries are taking huge efforts to deliver better quality healthcare facilities & products that support the adoption of advanced imaging for surgical applications.

End-use Insights

The hospitals segment held the largest revenue share owing to a large number of patients undergoing surgery in hospitals because of the availability of advanced treatment with advanced surgical equipment. The number of patients visiting hospitals for the treatment of neurological disorders, such as epilepsy and brain tumors, is increasing. As stated by the WHO, around 50 million people globally are suffering from epilepsy, and this number is projected to increase in the near future due to growing incidence of traumatic injuries and road traffic accidents.

A large number of surgical procedures are conducted at hospitals as they are the main treatment centers. Also, medical device manufacturers are focusing on innovative product development to cater to the unmet needs of surgeons. For instance, in October 2014, IMRIS, Inc. stated that neurosurgeons at Boca Raton Regional Hospital, U.S., completed the initial procedures to enable launching of VISIUS Surgical Theatre equipped with iMRI within the new Marcus Neuroscience Institute.

The other end use segment consists of ambulatory surgical centers and clinics. This segment is projected to witness significant growth owing to rising demand for minimally invasive surgeries and growing popularity of image-guided surgeries.

Regional Insights

North America dominated the overall market with the largest revenue share due to the local presence of many large medical devices companies, such as GE Healthcare, Siemens Healthineers, Koninklijke Philips N.V., and Medtronic. Furthermore, highly developed healthcare infrastructure and availability of expert surgeons in this region have fueled growth.

North America was followed by Europe that accounted for remarkable share of the overall market in 2016. Increasing demand for innovative medical devices for surgeries and presence of leading manufacturers mainly in Germany, UK, France, Switzerland, and Italy coupled with well-developed healthcare infrastructure are anticipated to remain major driving factors for the market.

Asia Pacific region is projected to show highest growth rate during the forecast period due to rising awareness about advanced surgical treatments and developing healthcare infrastructure in Asian countries such as China, India, and Indonesia. In addition, the growing prevalence of chronic diseases, including cancer, orthopedic diseases, Parkinson's disease, epilepsy, and Alzheimer's disease, is expected to increase the adoption of intraoperative imaging.

Competitive Insights

Several big corporations, such as GE Healthcare, Siemens Healthineers, Koninklijke Philips N.V., Medtronic, IMRIS, Deerfield Imaging, Ziehm Imaging GmbH, Brainlab AG, Shimadzu Corporation, and NeuroLogica Corp., share the market with medium- and small-sized vendors. They provide a broad range of advanced intraoperative imaging devices through their strong supply and distribution channels worldwide.

Leading players are involved in strategic collaborations, mergers &acquisitions, new product development, and regional expansions to gain the highest revenue share in the industry. Strategic collaborations and mergers & acquisitions help companies expand their existing businesses and geographical reach. For instance, in April 2012, Philips Healthcare collaborated with Brainlab AG to develop a comprehensive iMRI solution for neurosurgery procedures.

However, intense competition amongst manufacturers has led to high pressure on pricing strategies of vendors. In addition, regulations of governmental authorities for new medical devices approval could delay product commercialization, which could hamper the profit margin of vendors. Product recall is another major challenge faced by manufacturers, which could hinder market growth.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historic data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Revenue in USD million & CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America & MEA

Country scope

U.S., Canada, UK, Germany, Japan, India, China, Brazil, Mexico, South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments covered in the report

This report forecasts revenue growth at global, regional, & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global intraoperative imaging market on the basis of product, application, end use, and region:

  • Product Outlook (Revenue, USD Million; 2014 - 2025)

    • iCT systems

    • Intraoperative ultrasound systems

    • iMRI systems

    • C-arms systems

  • Application Outlook (Revenue, USD Million; 2014 - 2025)

    • Neurosurgery

    • Orthopedic surgery

    • ENT surgery

    • Oncology surgery

    • Others

  • End Use Outlook (Revenue, USD Million; 2014 - 2025)

    • Hospitals

    • Others

  • Regional Outlook (Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • Japan

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

    • MEA

      • South Africa

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