The global surgical imaging market is expected to meet new heights in the near future.
Various market research reports predict continued growth fueled by a variety of factors, including new technology and an aging population.
“The global surgical imaging market is projected to reach $1.63 billion by 2022 from an estimated value of $1.25 billion in 2017, at a compound annual growth rate of 5.5 percent,” according to MarketsandMarkets. “The key factors driving the growth of this market are growing popularity of Flat Panel Detector C-arms (FPD C-arms) owing to advantages of FPDs over image intensifiers, reimbursement cuts on analog radiography systems, and increasing demand for minimally invasive procedures. The growing demand for data integrated imaging systems and high growth in emerging markets like Asia Pacific is an opportunity for the market to grow. However, the high cost of these instruments is restraining the growth of the global market.”
“North America is expected to account for the largest share of the surgical imaging market in 2017, followed by Europe, Asia Pacific (APAC), and the Rest of the World,” MarketsandMarkets added. “The large share of this region can be attributed to a rising number of overuse sports injuries, and rising prevalence of CVD, along with the increasing number of cardiac arrest cases, and increase in the number of minimally invasive procedures performed in Canada. However, Asia Pacific is expected to register the highest compound annual growth rate of 7.1 percent during the forecast period, owing to the rapid growth in geriatric population in Japan, health care reforms in China, improving health care infrastructure in India, and rising number of orthopedic and CVD procedures in Australia.”
Grand View Research also predicts a bright future for the surgical imaging market.
“Global surgical imaging market is expected to witness an exponential growth over the coming seven years, owing to increasing geriatric population base globally coupled with adoption of imaging devices by hospitals especially in developed economies,” according to Grand View Research.
The report from Grand View Research also said that surgical imaging equipment is instrumental in providing greater accuracy and efficiency while performing surgeries. The report also pointed out that an increase in funding via public and private sectors pertaining to research and development of surgical imaging equipment should boost growth of this market.
“The overall global surgical imaging market is broadly classified on the basis of product and application. On the basis of products, it is divided into two types such as mobile C-arms and mini C-arms. Mobile C-arm is expected to gain popularity in near future owing to its increasing usage in cardiovascular, orthopedic and trauma, neurosurgery, and gastroenterology surgeries and its ability to provide higher resolution and manipulation free clear images,” Grand View Research adds.
“As of 2014, North America held the largest market share in surgical imaging market due to increasing sports injuries in the U.S., advanced health care infrastructure supporting adoption of surgical imaging devices, and supportive government policies pertaining to reimbursement and purchase of the same,” according to Grand View Research. “The European market is also expected to grow at a stable rate due to increasing geriatric population base and preference for minimally invasive surgical procedures.”