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Image Guided Therapy System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 117 Pages
  • January 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5012651

The Image-Guided Therapy System Market is expected to register a CAGR of 6.5% during the forecast period. The several factors such as a rise in the geriatric population, an increase in the burden of chronic diseases and an increase in a number of initiatives for cancer radiotherapy are propelling the growth of the image-guided therapy system.

An increase in the geriatric population will lead to many chronic conditions such as hypertension, high cholesterol, cancer and many more which further has a high chance of adopting image-guided therapy system as the population is more inclined towards minimally invasive procedures. Moreover, minimally invasive image-guided therapies are prefered more as they reduce postoperative complications and controls the healthcare cost.

For instance, a company Siemens Healthcare Private Limited has launched Nexaris Angio-CT (image-guided therapy system) for integrating multimodal imaging in interventional radiology and surgery. Furthermore, shifting preference to minimally invasive procedures with technological advancements in image-guided therapy system are the key driving factors propelling the overall market.

Key Market Trends

Endoscopes Segment is Expected to Hold a Significant Market Share in the Image Guided Therapy System Market

The growing incidences of cancer and gastrointestinal diseases have been attributed to an increase in demand for the interventional endoscopic system thus leading to drive the segment growth in image-guided therapy system. The high volume of endoscope guided surgeries with increased adoption of robot-assisted endoscopic guided surgeries for diagnosis purposes are some more key driving factors for the market.

Moreover, technologically advanced endoscopies with many product developments and launches helps to trigger the endoscopy segment. For example, Neoguide, Aer-O-scope, Invendoscope are under clinical development. In addition to this in 2017, Apollo Endosurgery got approval from the Food and Drug Administration (FDA) for the endoscopic suturing system, overstitch Sx for soft tissue approximation and endoscopic placement for sutures.

in addition, the magnetic resonance imaging-guided therapy segment is also showing significant market growth as these therapies are widely used in neurology, radiation oncology, and trauma care. Thus the increasing the number of diseases will lead to the adoption of these systems that will further boost the overall market.

North America is Expected to Hold a Significant Share in the Market and is Expected to do Same in the Forecast Period

North America is expected to hold a significant market share in the global image-guided therapy system market attributing to the well-established healthcare infrastructure, quick adoption of advanced radiation therapies with technological advancements.

Moreover with the increasing ageing population with rising cases of chronic diseases and value-based reimbursements in this region will raise the high demand for minimally invasive procedures, thus promoting the growth of image-guided therapy system market.

Competitive Landscape

Some of the companies that are currently dominating the image-guided therapy system market are Siemens Healthcare Private Limited, Koninklijke Philips N.V., Analogic Corporation, Medtronic, KARL STORZ SE & Co. KG and Stryker Corporation. The new product developments and M&A activities are the key strategies adopted by these companies.

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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in the Geriatric Population
4.2.2 Rising Burden of Chronic Diseases
4.2.3 Increase in the Number of Initiatives for Cancer Radiotherapy
4.3 Market Restraints
4.3.1 High Price of Image-Guided Therapy Systems
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 By Product Type
5.1.1 Ultrasound Systems
5.1.2 Computed Tomography (CT) Scanners
5.1.3 Magnetic Resonance Imaging (MRI)
5.1.4 Endoscopes
5.1.5 Positron Emission Tomography (PET)
5.1.6 Others
5.2 By Application
5.2.1 Neurosurgery
5.2.2 Cardiac Surgery
5.2.3 Urology
5.2.4 Orthopedic Surgery
5.2.5 Others
5.3 By End-user
5.3.1 Hospitals
5.3.2 Ambulatory Surgery Centers
5.3.3 Clinics
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle-East and Africa GCC South Africa Rest of Middle-East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Siemens Healthineers
6.1.2 Koninklijke Philips N.V.
6.1.3 GE Healthcare
6.1.4 Analogic Corporation
6.1.5 Brainlab
6.1.6 Medtronic Plc
6.1.7 Varian Medical Systems, Inc
6.1.8 KARL STORZ SE & Co. KG
6.1.9 Stryker Corporation

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Siemens Healthineers
  • Koninklijke Philips N.V.
  • GE Healthcare
  • Analogic Corporation
  • Brainlab
  • Medtronic Plc
  • Varian Medical Systems, Inc
  • Stryker Corporation