Image Guided Surgery Devices Market Value Chain Analysis and Forecast Upto 2022

Image-guided surgery is a surgical procedure that utilizes preoperative or intraoperative images to facilitate precisely guided surgical instruments by correlating the operative field. The images taken during the surgery help in conducting the surgical procedure seamlessly; it reduces the chances of errors and minimizes the procedure time. Some of the major image guided surgery devices are computed tomography, magnetic resonance imaging, ultrasound, endoscope and X-ray fluoroscopy. Moreover, these devices are used in various clinical procedures in neurosurgery, orthopedic, ENT, and maxillofacial surgery. Rising demand for better health care facilities, increased health care expenditure, growing popularity of image guided surgery devices, and rising government initiatives are fueling the growth of the market. This report covers the market analysis of different types of image guided surgery devices that are used in various surgeries.

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As per the report, the increasing demand for enhanced healthcare facilities and the rising healthcare expenditure globally are amongst the chief factors fuelling the market for image guided surgery devices. In addition, the rising popularity of IGS devices and the increasing initiatives taken by governments globally will also have a positive impact on the growth of the market. Furthermore, the developing markets hold a significant potential for the image guided surgery devices, hence propelling market development. The increasing count of partnerships and collaborations is a key trend seen in the market. On the other hand, the absence of skilled professionals and the soaring cost of installation of image guided surgery devices are amongst the major factors inhibiting the development of the market. In addition, the stringent regulatory needs and the lack of health insurance in emerging countries will also pose a negative impact on the growth of the market.

Based on application, the global image guided surgery devices market was dominated by the neurosurgery applications segment in 2013. The segment led the global image guided surgery devices market owing to the minimal risk of damage caused to non-surgical brain sites and a greatly heightened level of operating accuracy. The orthopedic surgery application segment, on the other hand, is expected to expand at a 7.0% CAGR between 2014 and 2022, which is the fastest growth rate among the applications segments. This segment is growing due to an increasing geriatric population.

According to device type, the global image guided surgery devices market was largely dominated by the computed tomography segment. CT-guided surgeries are touted to have the highest level of accuracy, along with a turnaround time of less than 500 milliseconds. The CT scanner segment in 2013 was valued at US$770 mn.The global image guided surgery devices market is expected to grow at a faster pace due to a growing number of accidents. Cited in the report is a statement by the ASIRT, which reveals that there are between 20 mn to 50 mn people who are injured or even disabled every year in road accidents.

On the basis of geography, the report segments the market into Europe, North America, Latin America, Asia Pacific, the Middle East, and Rest of the World (RoW). Amongst these, North America led the market in 2013 and was trailed by Europe. The reasons for the superiority of both these regions include the increasing adoption rate of new technologies, the increasing healthcare expenditure, and the availability of trained healthcare professionals in these regions.

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The key players in the global image guided surgery devices market are Medtronic, Inc., Stryker, St. Jude Medical, Inc., Smith & Nephew plc, Zimmer Holdings, Inc., Siemens AG, Toshiba Corp., Karl Storz GmbH & Co. KG., Integra LifeSciences Corp., IMRIS, Inc., GSI Group, Inc., General Electric Company, Brainlab AG, and Analogic Corp.

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