The global image-guided therapy systems market size was valued at USD 3.02 billion in 2017 and is anticipated to expand at a CAGR of 6.3% over the forecast period. Rise in geriatric population base and shifting preference for minimally invasive surgeries along with technological advancements in imaging systems are key factors driving the market. Increased burden of chronic diseases, such as cancer, coupled with a rise in the number of initiatives for cancer radiotherapy is also positively impacting the market.
According to the Global Health and Aging report published by WHO in 2011, geriatric population is anticipated to increase from 524 million in 2010 to approximately 1.5 billion by 2050. According to WHO, the global cause of death is shifting from infections to chronic conditions, which include high cholesterol, hypertension, cancer, and cognitive heart diseases. Thus, the demand for image-guided therapy systems for treating these conditions is expected to rise in the coming years.
Growing preference for minimally invasive therapies is also propelling the market development. According to the national survey study conducted by Johns Hopkins Medicine in 2015, the use of minimally invasive surgeries for certain common procedures can reduce postoperative complications and can also control healthcare costs. Thus, the demand for minimally invasive image-guided therapies is projected to rise, thereby driving the market.
According to the estimates of The Institute of Cancer Research, U.K., more than 120,000 people in the U.K. are treated with radiotherapy every year. Image-guided therapy systems have significantly improved, resulting in more precise and safer interventions. An example of such advancements is a launch of a new therapy suite, Nexaris, by Siemens Healthineers. In November 2017, the company launched this system to integrate multimodal imaging in interventional radiology and surgery.
Various initiatives undertaken to promote cancer radiotherapy and increasing investments by private companies to develop advanced image-guided therapy systems are also contributing toward market growth. Cancer Research U.K., Medical Research Council, and National Institute for Health Research are few of the organizations active in cancer radiotherapy research. For instance, research is being conducted at the Department of Radiation Oncology, Stanford Medicine, for developing advanced cancer imaging, diagnostic, and minimally invasive treatment platforms.
Endoscopes emerged as the largest product segment in 2017 accounting for a revenue share of 31.0%. Increased adoption of robot-assisted endoscopic surgeries and high cost of the systems are the key factors behind its highest revenue share. High volume of endoscope-guided surgeries for various interventions have also contributed to its expansion. Growing incidences of cancer and gastrointestinal diseases have increased the demand for interventional endoscopic systems, thereby driving the segment growth.
This segment is projected to expand further at the fastest CAGR during the forecast period owing to technological advancements in endoscopy and subsequent product launches. Aer-O-Scope, Invendoscope, and NeoGuide are some of the examples of robot-assisted endoscopic systems under clinical development. In November 2017, Apollo Endosurgery, received FDA approval for its endoscopic suturing system, OverStitch Sx, for soft tissue approximation and endoscopic placement of sutures.
Magnetic Resonance Imaging (MRI)-guided therapy system is the second-largest product segment with promising growth opportunities. Technological advancements and wide application range of these therapies in treatment planning, localization and delivery, and treatment response assessment are the key factors responsible for the segment demand. These systems have major applications in areas such as radiation oncology, neurology, and trauma care. Thus, rising burden of such diseases is expected to boost the product demand further.
Cardiac surgeries accounted for the largest revenue share of the image-guided therapy systems market in 2017. Cardiovascular Diseases (CVDs) are the leading cause of death globally. Rise in geriatric population coupled with increasing burden of such diseases is the major factor contributing to the segment growth. Various research initiatives undertaken for the development of real-time cardiac interventions is also positively impacting the market development.
Neurosurgery segment is likely to expand at the lucrative CAGR of 7.7% over the forecast period. Growing incidences of accidents and trauma cases and high prevalence of neurological disorders are the major factors driving this segment. Increasing collaborations among key companies for developing new image-guided therapy systems is another major growth driver. For instance, in 2014, Stryker collaborated with NeuroLogica for integrating navigation system of Stryker with NeuroLogica’s BodyTom CT Scanner.
As of 2017, urology is the second-largest segment in terms of the revenue share. Image-guided therapy systems for urological applications are primarily used for diagnosis, treatment planning, and treatment assessment. Increasing research for the development of innovative systems using 3D and 4D imaging, robot assisted image-guided therapies, and molecular imaging is expected to drive the segment.
In 2017, hospitals emerged as the largest end-use segment and is likely to grow further. Increased number of various surgeries and high adoption of image-guided therapy systems in the hospitals are the primary factors driving the segment. Hospitals are adopting these systems owing to increasing need for optimizing clinical workflows in a cost-effective manner.
Demand for Ambulatory Surgery Centers (ASCs) is also increasing. It is anticipated to exhibit the fastest CAGR over the forecast period. This growth is attributed to the advantages offered by these healthcare settings such as reduced waiting times and significant cost savings. High preference for minimally invasive surgeries and reduced hospital stays in the ASCs are also driving the segment demand. Rising trend of same-day surgery in developed economies due to significant cost savings and optimum care delivery is also fueling the ACS demand.
Clinics and research and academic laboratories are other end-use segments. As of 2017, clinics was the second-largest segment in terms of revenue share. On the other hand, increasing collaborations among research institutes and manufacturers along with favourable initiatives for cancer treatment are driving the research and academic laboratories segment.
North America accounted for the largest revenue share in 2017. Improved healthcare infrastructure, technological advancements, and quick adoption of advanced radiation therapies are the factors driving the growth of this regional market. Growing geriatric population base coupled with rising cases of chronic diseases is also contributing to the region’s development. U.S. emerged as the largest market in North America in 2017 and accounted for 86.7% of the North America regional market.
Favorable initiatives undertaken by private companies in the field of minimally invasive interventional and surgical techniques is expected to boost market expansion in the coming years. Asia Pacific is projected to exhibit the fastest CAGR over the forecast period. Growing geriatric population, increasing cases of target diseases, and improving healthcare infrastructure are the factors responsible for its rapid growth. Increasing number of research centers in the countries such as India and China is also positively affecting the region’s growth.
The global market is consolidated with the presence of Koninklijke Philips N.V., Siemens Healthineers, GE Healthcare, and Fujifilm Holdings Corporation accounting for the majority of the market share. New product developments and M&A activities are the key strategies adopted by these companies.
Base year for estimation
Actual estimates/Historical data
2014 - 2016
2018 - 2025
Revenue in USD Million and CAGR from 2018 to 2025
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
U.S., Germany, U.K., France, Russia, Italy, Spain, Netherlands, Sweden, China, India, Australia, Singapore, Brazil, South Africa, Saudi Arabia
Revenue forecast, company share, competitive landscape, growth factors, and trends
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research, Inc. has segmented the global image-guided therapy systems market report on the basis of product, application, end use, and region:
Product Outlook (Revenue, USD Million, 2014 - 2025)
Computed Tomography (CT) Scanners
Magnetic Resonance Imaging (MRI)
Positron Emission Tomography (PET)
Single Photon Emission Computed Tomography (SPECT)
Application Outlook (Revenue, USD Million, 2014 - 2025)
End-use Outlook (Revenue, USD Million, 2014 - 2025)
Ambulatory Surgical Centers (ASCs)
Research & Academic Institutes
Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East & Africa
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