New Delhi, June 15, 2023 (GLOBE NEWSWIRE) -- Global intraoperative imaging market is flourishing due to the increasing prevalence of chronic diseases, advancements in imaging technology, a growing focus on minimally invasive surgeries, and innovations driven by modern technologies such as intraoperative MRI and optical coherence tomography.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global intraoperative imaging market size at USD 238.0 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global intraoperative imaging market size to grow at a CAGR of 13.5% reaching a value of USD 577.47 by 2029. The increasing demand for cost-effective healthcare solutions and the growing trend toward outpatient surgeries are also driving the demand for intraoperative imaging. The intraoperative imaging technology can help in reducing the length of hospital stays and minimize the need for repeat surgeries, thereby reducing overall healthcare costs. Overall, the rising demand for intraoperative imaging can be attributed to its ability to improve surgical outcomes, enhance patient safety, and reduce healthcare costs, making it an increasingly attractive option for healthcare providers and patients alike. Furthermore, the number of patients receiving treatment in hospitals for neurological illnesses like epilepsy and brain tumors is on the rise. As per the WHO, epilepsy affects over 50 million individuals globally and accounts for a considerable amount of the global disease burden. The proportion of the general population with active epilepsy is estimated to be between 4 and 10 per 1000 persons. Thus, the increasing prevalence of chronic disorders and the adoption of technically advanced imaging systems are expected to boost this segment’s growth during the forecast period.
Opportunity: New Product Development and High Growth Opportunities in Emerging Economies
Developing economies including India, Brazil, South Korea, Turkey, Russia, and South Africa provide significant development potential for intraoperative imaging market participants. Although cost is an issue in these developing countries, their large population bases–particularly in India and China–indicate a long-term market for intraoperative imaging devices. The increased frequency of chronic diseases such as cancer, stroke, nephrology, neurological surgery, and cardiovascular disorders in these countries, as well as the higher death rates, highlight the need of early identification. GLOBOCAN 2018 statistics, for example, suggested that about half of the worldwide cancer population resided in developing nations. Regulatory policies in Asia-Pacific countries are more adaptable and business-friendly than in Western countries. Increased competition in developed countries is projected to push makers of intraoperative imaging systems to focus on emerging markets.
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Challenges: Cuts in Healthcare Providers’ Budget
In response to increased government pressure to cut healthcare costs, a number of healthcare providers have partnered with group buying organizations (GPOs), integrated health networks (IHNS), and integrated delivery networks (IDNS). These associations pool their members' purchases and negotiate a competitive price with medical equipment suppliers and manufacturers. For mass purchasing of intraoperative imaging devices, GPOs, IHNS, and IDNS bargain hard. The growing cost of prescription medications, combined with a steep decrease in anticipated budget allocations for health and human services in the United States for 2019, have resulted in major cuts to hospital budgets. According to an American Hospital Association analysis, federal hospital payment cuts totaling USD 218 billion by 2028, requiring hospitals to devote less resources yearly.
Segmental Information
Global Intraoperative Imaging Market - By End User
Based on end user, the global intraoperative imaging market is segmented into hospitals & diagnostic centers, ambulatory surgical centers & clinics, and research laboratories & academic institutes. End users in the intraoperative imaging market were dominated by hospitals and diagnostic centers. Hospitals frequently undertake a wide range of surgical operations, the majority of which are conducted in hospital inpatient settings. The increasing number of minimally invasive operations and electro surgery treatments done in hospitals, as well as the introduction of robotic surgical, are driving growth in this market. Because of their greater purchasing power and higher volume of procedures conducted, hospitals are more likely to use intraoperative imaging equipment. The increased number of orthopedic surgeries conducted in hospitals has resulted from the rising number of vehicle accidents, fall-related injuries, and sports injuries. The increased occurrence of diseases needing surgical treatment promotes the utilization by increasing the procedure volume.
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Global Intraoperative Imaging Market - By Region
Due to the presence of a large number of market players in the region, North America held the highest market share in 2022, and their consistent efforts in developing new products, investing in acquisitions, and R&D activities to support easy operations and ensure the availability of authentic medical-grade imaging systems are expected to drive the market growth. For example, Activ Surgical, a digital surgery pioneer based in the United States, announced FDA clearance of its ActivSight Intraoperative Imaging Module for improved surgical visualization in April 2021. This imaging module provides real-time intraoperative visual data and imaging to surgeons, resulting in improved patient outcomes and operating room safety.
Impact of COVID-19 on the Global Intraoperative Imaging Market
The COVID-19 pandemic had an uneven influence on the intraoperative imaging market. While demand for imaging technologies remains high, the pandemic caused supply chain disruptions, reduced patient volumes, and financial constraints, all of which hampered market growth. Because of the rising number of COVID-19 cases globally, the pandemic spurred the demand for imaging technology in the healthcare business. Intraoperative imaging technologies are being utilized to diagnose and monitor the evolution of COVID-19 patients. Furthermore, as hospitals and healthcare facilities are converted to COVID-19 treatment, the demand for portable and mobile imaging devices has grown.
Competitive Landscape
Key players in the global intraoperative imaging market include General Electric Company, Siemens Healthineers AG, Ziehm Imaging GmbH, Medtronic, Koninklijke Philips NV, Canon Healthcare, Stryker, Brainlab AG, IMRIS, Shimadzu Corporation, Shenzhen Anke High-tech Co., FUJIFILM Holdings, Carl Zeiss Meditec AG, Mindray Ltd, Carestream Health, Analogic Corporation, Allengers Medical Systems Ltd, Esaote SpA, and Neurologica Corporation.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the Global Intraoperative Imaging Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global Intraoperative Imaging Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Recent Developments
- September 2021 - GE Healthcare agreed to acquire BK Medical, a leader in advanced surgical visualization. With this agreement, BK Medical's active imaging platform will be able to reach new customers and markets around the world. In addition, the combination of GE Healthcare's diagnostic imaging technology and BK's ability to enable decision-making and surgical visualization in the intervention will allow for better decision-making across the healthcare system.
Scope of the Report
| Attributes | Details |
| Years Considered | Historical Data – 2019–2022 |
| Base Year – 2022 | |
| Estimated Year – 2023 | |
| Forecast Period – 2023–2029 | |
| Facts Covered | Revenue in USD Million |
| Product/ Service Segmentation | Product, Application, End Users, Region |
| Key Players | General Electric Company, Siemens Healthineers AG, Ziehm Imaging GmbH, Medtronic, Koninklijke Philips NV, Canon Healthcare, Stryker, Brainlab AG, IMRIS, Shimadzu Corporation, Shenzhen Anke High-tech Co., FUJIFILM Holdings, Carl Zeiss Meditec AG, Mindray Ltd, Carestream Health, Analogic Corporation, Allengers Medical Systems Ltd, Esaote SpA, Neurologica Corporation |
By Product
- Mobile C Arm
- Ultrasound
- Laparoscopic probes
- Drop-in-probes
- Other devices
- CT
- MRI
- X Rays
- Intraoperative Optical Imaging
By Application
- Neurosurgery
- Orthopedic & Trauma Surgery
- Spine Surgery
- Cardiovascular Surgery
- ENT Surgery
- Oncology
- Emergency & Trauma Surgery
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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