Global Image-Guided Surgery Market Size to Reach USD 16.24 Billion in 2032 | Emergen Research

Increasing number of cancer radiotherapy initiatives is a major factor driving Image-Guided Surgery Market revenue growth


Vancouver, Dec. 19, 2023 (GLOBE NEWSWIRE) -- The global image-guided surgery market size is expected to reach USD 16.24 Billion in 2032 and register a revenue CAGR of 8.4% during the forecast period, according to the latest analysis by Emergen Research. Increasing number of cancer radiotherapy initiatives is one of the major factors driving the market revenue growth. High radiation doses can be delivered to tumors utilizing sophisticated high-resolution real-time Image-Guided Radiotherapy (IGRT) employing X-rays, magnetic resonance imaging, computer tomography, or ultrasound without harming healthy organs. IGRT has been radiation oncology's most resounding success story over the past few decades, and it continues to be a major innovation driver, using real-time imaging biomarkers for customized dose administration, for instance, to advance personalized oncology.

Lack of skilled healthcare professionals is a factor expected to restrain market revenue growth. Systems for image-guided surgery must be operated by individuals who have specialized knowledge and skills. Their widespread implementation can be hampered by lack of healthcare personnel with necessary training. Real-time imaging data interpretation and integration into surgical processes are demanding tasks that need qualified individuals. The market is constrained by a shortage of educated experts, which restricts the use of image-guided surgical systems in healthcare institutions and impedes revenue growth of the market.

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Scope of Research

Report DetailsOutcome
Market size in 2022USD 7.20 Billion
CAGR (2023-2032)8.4%
Revenue forecast to 2032USD 16.24 Billion
Base year for estimation2022
Historical data2019-2021
Forecast period2023-2032
Quantitative unitsRevenue in USD Billion and CAGR in % from 2023 to 2032
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends.
Segments coveredProduct, application, end-use, region
Regional scopeNorth America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country scopeU.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, Rest of MEA
Key companies profiledMedtronic, Siemens Healthcare GmbH, Olympus Corporation, Koninklijke Philips N.V., KARL STORZ, Brainlab AG, Analogic Corporation, GE HealthCare, Stryker, Varian Medical Systems, Inc.
Customization scope10 hours of free customization and expert consultation

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Major Companies and Competitive Landscape

The global image-guided surgery market is fragmented, with several large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective image-guided surgery services. Some major players included in the global image-guided surgery market report are:

  • Medtronic
  • Siemens Healthcare GmbH
  • Olympus Corporation
  • Koninklijke Philips N.V.
  • KARL STORZ
  • Brainlab AG
  • Analogic Corporation
  • GE HealthCare
  • Stryker
  • Varian Medical Systems, Inc.

Strategic Development

  • On 04 February 2021, upon receiving approval from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), respectively, Curadel Surgical Innovations Inc., a privately owned business that specializes in the manufacture of near-infrared fluorescent contrast agents for image-guided surgery, declared a worldwide distribution agreement with a tier one medical technology company to distribute ZW800-1.
  • On 18 January 2021, through its Image-Guided Therapy Mobile C-arm System - Zenition, which delivers improved clinical accuracy and efficiency to improve the outcomes for patients receiving endovascular treatment, Royal Philips, a global leader in health technology, announced that physicians will now have the benefit of advanced new 3D image guidance features.

Some Key Highlights from the Report

  • On 04 February 2021, Curadel Surgical Innovations Inc., a privately held company that specializes in production of near-infrared fluorescent contrast agents for image-guided surgery, announced a worldwide distribution agreement with a tier-one medical technology company to distribute ZW800-1 after receiving approval from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), respectively.
  • The image-guided surgery devices segment is expected to account for a significantly large revenue share during the forecast period. One major factor is the rising prevalence of intricate, minimally invasive surgical procedures, which call for higher standards of precision and accuracy. The aging population is another reason that is increasing the expense of treating diseases such as cancer and arthritis. In addition, image-guided surgical equipment is becoming more widely available and efficient as a result of technological advancements such as enhanced imaging capabilities and robots.
  • The cardiac surgery segment is expected to account for a significantly large revenue share during the forecast period. With the use of real-time imaging and navigational aids provided by image-guided surgical instruments, surgeons can more precisely investigate the heart's architecture, identify blockages, and perform treatments. Given the increasing need for less invasive cardiac operations and prevalence of cardiovascular diseases, the usage of image-guided surgical systems in cardiac surgery segment is driving revenue growth of this segment.
  • Market in North America is expected to account for largest revenue share during the forecast period as more image-guided operations are performed and leading market players and government agencies collaborate. Tens of thousands of Image-Guided Therapy (IGT) procedures are performed each year in Canada to address ailments ranging from cancer to heart disease, hence, driving market revenue growth in this region.

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Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global image-guided surgery market on the basis of product, application, end-use, and region:

  • Product Outlook (Revenue, USD Billion; 2019–2032)                                           
    • Image Guided Surgery Devices
      1. Computed Tomography (CT) Scanners
      2. Ultrasound Systems
      3. Magnetic Resonance Imaging (MRI)
      4. Endoscopes
      5. X-ray Fluoroscopy Devices
      6. Positron Emission Tomography (PET) Devices
      7. Single Photon Emission Computed Tomography (SPECT) Devices
    • Image Guided Surgery Software
  • Application Outlook (Revenue, USD Billion; 2019–2032)                                           
    • Cardiac Surgery
    • Neurosurgery
    • Orthopedic Surgery
    • Urology
    • Oncology Surgery
    • Gastroenterology
    • Others
  • End-Use Outlook (Revenue, USD Billion; 2019–2032)                                           
    • Hospitals
    • Ambulatory Surgical Centers
    • Specialty Clinics
    • Research & Academic Institutions
  • Regional Outlook (Revenue, USD Billion, 2019–2032)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. U.K.
      3. France
      4. Spain
      5. BENELUX
      6. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. Israel
      4. Rest of MEA

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