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Global Surgical Imaging Market Growth, Size, Share, Industry Report and Forecast to 2026
The global surgical imaging market is estimated to grow at a CAGR of nearly 6.0% during the forecast period. Asia-Pacific is estimated to witness potential growth in the market during the forecast period. The major factors that are primarily driving the market growth in the region include increasing prevalence of orthopedic diseases and the emerging trend towards minimally invasive surgeries in the region. Rising geriatric population and increasing sports injuries are leading to an increasing prevalence of orthopedic disorders in the region. As per the United Nations (UN), the population aged 65 years and above nearly doubled from 6% in 1990 to 11% in 2019 in Eastern and South-Eastern Asia.
In 2019, Eastern and South-Eastern Asia held the largest share in the global ageing population (260 million), which is followed by Europe and Northern America (more than 200 million). This leads to the increasing prevalence of musculoskeletal conditions, such as arthritis, spinal stenosis, low back pain, hip, and knee conditions and thereby increased the demand for minimally invasive procedures. As per the Japanese Society for Replacement Arthroplasty, total 38,018 arthroplasty procedures were registered during the period April 2016 to March 2017. There were 1,188 hospitals participated in Joint Arthroplasty registry. Total 17,507 cases of primary and revision hip arthroplasty were registered during the period.
The percentage of minimally invasive arthroplasty procedures performed in Japan was 46.7% in 2016. This represents the emerging demand for minimally invasive procedures for the treatment of orthopedic disorders in Japan. As a result, there is an increased demand for image-guided technologies such as c-arm, magnetic resonance imaging, and more in the region. Owing to radiographic capabilities, c-arm imaging technology is mainly used for fluoroscopic intraoperative imaging during emergency care, orthopedic, and surgical procedures. Likewise, the increasing prevalence of orthopedic procedures and chronic diseases has also witnessed in other Asia-Pacific countries, including China and India.
As a result, the companies are expanding the reach of their surgical imaging products in these countries. For instance, in July 2019, in India, Philips introduced Azurion with FlexArm for image-guided procedures. Through its seamless and intuitive approach, Azurion FlexArm will increase the care of the patients and save time and offer new opportunities for novel image-guided procedures in the country. This, in turn, will enable to accelerate the company’s market share. Improving healthcare infrastructure and rising medical tourism has increased focus on minimally invasive procedures that can lead to improving patient care in the region. Therefore, there is an increased scope for imaging technologies for the more accurate procedure and successful outcomes for patients. As a result, Asia-Pacific surgical imaging market will experience potential growth during the forecast period.
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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