Surgical Imaging Market - Emerging Markets & Growing Medical Tourism


Posted March 25, 2022 by mmvaidya

The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.
 
According to the new market research report, "Surgical Imaging Market by Technology (Image Intensifier C-arms, Flat Panel Detector C-arms), Application (Orthopedic & Trauma Surgeries, Neurosurgeries, Cardiovascular Surgeries), End User ( Hospital, Surgery Center) - Global Forecasts to 2025", is expected to reach 2.4 billion by 2025 from an estimated USD 1.8 billion in 2020 at a CAGR of 6.3% during the forecast period.

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Global Industry Growth Boosting Factors:

The major factors driving the growth of this market include the advantages of FPDs over image intensifiers, technological advancements, reimbursement cuts for analog radiography systems, and the increasing demand for minimally invasive procedures. However, the high cost of systems is estimated to restrain the growth of this market during the forecast period.

Overview:

This study involved four major activities in estimating the size of the surgical imaging market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.

Drivers: Advantages of FPDs over image intensifiers

The evolution of C-arms—from the traditional X-ray image intensifier technology to digital flat-panel detectors (FPDs)—has brought about significant advancements in surgical imaging. FPDs have a number of advantages over image intensifiers, such as compact size and reduced radiation dose. Although resolution varies from model to model, FPDs have the ability to produce a more consistent, high-quality digital image.

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Restrains: High price of surgical imaging systems

Owing to their advanced features and functionalities, mobile C-arms are generally expensive and cost above USD 200,000. Advanced mobile C-arms are equipped with powerful generators (up to 20kW), which enable the penetration of dense anatomies. GE Healthcare’s OEC 9900 Elite and Ziehm Imaging’s Vision RFD are among the most expensive mobile C-arms manufactured. The large image displays in these mobile C-arms enable a precise evaluation of the images while allowing surgeons to view and analyze these images at a distance.

Opportunities: Emerging markets and growing medical tourism

Brazil, Russia, India, China, and South Africa (BRICS) are among the fastest-growing economies in the world. According to the Centre for Economics and Business Research (CEBR), it is projected that by 2028, China will overtake the US to become the world’s largest economy. Similarly, India is expected to become the third-largest economy in the world by 2030.

More than half of the world’s population resides in India and China, owing to which these countries are home to a large patient base. The increasing burden of cancer, improvements in healthcare infrastructure, the presence of a less-stringent regulatory environment, and growing medical tourism are encouraging players in the surgical imaging market to increase their presence in emerging countries.

Asia Pacific to witness significant growth from 2020 to 2025

North America is the largest regional market for surgical imaging systems, followed by Europe. the APAC market is estimated to grow at the highest CAGR during the forecast period. The high growth in this regional market can be attributed to the rising prevalence of chronic diseases, improving healthcare infrastructure, and the increasing demand from key markets such as Japan, China, and India

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Last Updated March 25, 2022