Image-guided Therapy Systems Market Size, Share & Trends Analysis Report By Product (Ultrasound, Computed Tomography Scanners), By Application (Cardiac Surgery, Neurosurgery), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the image-guided therapy systems market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for image-guided therapy systems market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of image-guided therapy systems market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Image-Guided Therapy Systems Market Categorization:

The image-guided therapy systems market was categorized into four segments, namely product (Computed Tomography Scanners, Ultrasound Systems, Magnetic Resonance Imaging, Endoscopes, X-ray Fluoroscopy, Positron Emission Tomography, Single Photon Emission Computed Tomography), application (Cardiac Surgery, Neurosurgery, Orthopedic Surgery, Urology, Oncology Surgery, Gastroenterology), end-use (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Research & Academic Institutions), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The image-guided therapy systems market was segmented into product, application, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The image-guided therapy systems market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; the UK.; Germany; France; Italy; Spain; Sweden; Denmark; Norway; Japan; China; India; South Korea; Australia; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Image-guided therapy systems market companies & financials:

The image-guided therapy systems market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Koninklijke Philips N.V.  - Koninklijke Philips N.V. is a prominent player in the global medical technology sector. The company’s operations span various stages of the health continuum, including diagnosis, treatment, and home care. Its areas of operation encompass image-guided therapy, diagnostic imaging, health informatics, and patient monitoring. With a presence in over 100 countries, Philips provides essential products and services for individuals dealing with chronic conditions. The company is actively involved in research and development and produces products to cater to the increasing needs in the healthcare sector.

• Siemens Healthineers - Siemens AG, the parent company of Siemens Healthineers, operates in various sectors including wind power & renewables, power & gas, energy management, mobility, healthcare, building technologies, digital factories, and process industries & drives. In April 2021, Siemens acquired Varian Medical Systems. The company’s business operations are segmented into four areas: Imaging, Diagnostics, Varian, and Advanced Therapies. In addition to this, Siemens offers consultancy and healthcare IT services. The company is engaged in the development of technologies for molecular and therapeutic diagnostics.

• Analogic Corporation - Analogic Corporation is a company that specializes in the design, production, and sale of real-time guidance platforms, threat detection systems, and diagnostic imaging systems. The company’s operations are divided into three main segments: ultrasound, medical imaging, and security & detection. The medical imaging system segment includes CT, MRI, and digital mammography systems. The company’s urology segment offers real-time surgery guidance systems for surgical and urological procedures. Analogic Corporation has a global presence with offices in the U.S., Canada, Denmark, and China.

• GE Healthcare - GE Healthcare, a subsidiary of General Electric (GE), is a producer and marketer of diagnostic equipment and reagents, with a particular focus on medical imaging. The company supplies dyes for use in MRI and CT scanners. In addition, it designs products for various areas including information technology, medical diagnostics, patient monitoring systems, radiography, fluoroscopy, hemodynamic recording, ultrasound, mammography, ventilators, diagnostic ECG, and interventional image-guided systems.

• Brainlab AG. - Brainlab AG develops, manufactures, and sells software-based medical technology for supporting minimally invasive techniques. Image-guided therapy systems are core products developed by the company. These systems provide precise real-time information for surgical navigation. The company has offices in 18 locations globally.

• Medtronic - Medtronic is a company specializing in medical technology, creating, producing, and distributing a broad spectrum of medical devices, therapies, and services for the management of chronic conditions such as heart, spinal, neurological, and vascular diseases, along with diabetes. The company caters to physicians, patients, and clinicians in regions such as the U.S., Europe, and Asia Pacific. It operates through various divisions including cardiac rhythm, cardiovascular, spinal, neuromodulation, diabetes, and surgical technologies. Medtronic has a global presence, extending to over 150 countries.

• Olympus Corporation - Olympus Corporation is a company that specializes in the production and sale of products in the fields of imaging, medical, life sciences, and information & communication. The company has a global footprint with operations in the U.S., Europe, and Asia. Its offerings are categorized into four main business segments: imaging systems, medical systems, life sciences, and others. The medical systems segment of Olympus provides healthcare products, including surgical endoscopes, medical endoscopes, endotherapy products, and ultrasound endoscopes.

• Stryker - Stryker is a company specializing in medical technology, with operations spanning three key areas: orthopedics, medical surgeries, and neurotechnology & spine. The company’s portfolio includes a wide range of products such as solutions for joint replacement, trauma-related products, micro & spinal implant systems, powered surgical instruments, orthobiologics, endoscopic products, equipment for patient handling and emergencies, and surgical navigation systems. Stryker has a global presence in over 75 countries and distributes its products through its sales subsidiaries, branches, as well as third-party dealers and distributors.

• KARL STORZ GmbH & Co. KG  - KARL STORZ GmbH & Co. KG is a privately owned international healthcare company that specializes in the design, development, production, and distribution of medical instruments and devices. The company provides medical instruments for a wide range of applications including neuro endoscopy, emergency medicine and anesthesia, thoracic surgery, photodynamic diagnosis, gastroenterology, urology, gynecology, sports medicine and arthroscopy, proctology, microscopy, pediatrics, and hygiene. In the field of gynecology, Karl Storz has made significant contributions to the production of gynecological endoscopes. The company offers an extensive range of about 15,000 endoscopic instruments. It supplies endoscopes for use in human medicine, veterinary medicine, and industrial endoscopy.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Image-Guided Therapy Systems Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Image-Guided Therapy Systems Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.