Image-Guided Surgery Devices Market – Analysis and Forecast To 2024 | Stryker Corporation, Hitachi Ltd.

The global image-guided surgery devices market is predicted to grow at 7.1% CAGR during the forecast period with the market size reaching USD 6.3 billion by 2024. Image-guided surgery is also known as navigation surgery, it visually correlates intraoperative anatomy with preoperative CT scan. Image-guided surgery devices are used for guiding surgeons during the surgery. It enhances accuracy during the surgery, decreases procedure time, reduces complexity, and insignificant surgical scar.

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The geriatric population is susceptible to neurological disorders moreover, the low immunity makes problematic for them to recover from the side-effects of invasive treatments, thus image-guided surgery devices are escalating demand for non-invasive surgery. Some of the other key factors driving the growth of the industry are the mounting occurrence of chronic diseases such as cancer, and technological developments in medical imaging.

Key factors hindering the growth of the image-guided surgery devices market are the high cost of imaging technique and strict regulatory requirement. In addition, the lack of awareness is also having a negative impact on the growth of the image-guided surgery devices market.

Asia-Pacific is observed to witness significant growth in the image-guided surgery devices market during the forecast period, as the region comprises of a large population, and refining healthcare infrastructure. Moreover, expanding the geriatric population, intensifying demand for minimally invasive surgery, mounting healthcare awareness, and speedily increasing medical tourism are also facilitating the significant growth of Asia-Pacific image-guided surgery devices industry.

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Market players in the image-guided surgery devices industry are investing capital to develop technologically advanced systems. In June 2018, Royal Philips acquired EPD Solutions, to improve its product portfolio of image-guided procedures for cardiac arrhythmias. Siemens AG, Koninklijke Philips N.V, Medtronic Plc, Stryker Corporation, Hitachi, Ltd., Varian Medical Systems, Inc., Smith & Nephew plc, KARL STORZ GmbH & Co. KG., Zimmer Holdings, Inc., and General Electric are some of the key players offering solutions for image-guided surgery devices.

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