Image Guided Surgery Devices Market to Reach Approximately US$4,998.2 mn by 2025
The global image guided surgery devices market is directly reliant on the development of healthcare across various regional longitudes of the world. As the healthcare industry make rapid advancements across a number of its sub-domains, the market for global image guided surgery devices would see the entry of new players into the market. The competition is expected to intensify in the coming years and wreak the need for proper strategizing for business players.
Several market players are already on the lookout for better business strategies to garner a global footprint. Moreover, the players are expected to focus on get into strategic alliances in order to attract a decent consumer base across the world. The major players identified by Transparency Market Research (TMR) include Koninklijke Philips N.V., Siemens Healthineers, Analogic Corporation, GE Healthcare, Stryker, Varian Medical Systems, Inc., Brainlab AG, Medtronic,KARL STORZ GmbH & Co. KG, and Olympus Corporation. The market strategies employed by these prominent players is anticipated to be a decisive standpoint for market progress.
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Transparency Market Research (TMR) estimates that the market value is expected to stand at US$4,998.2 mn in 2025 as compared to a value of valuation of US$3,068.9 mn in 2016. Henceforth, the CAGR over the period from 2017 to 2025 is expected to settle at 5.7%. Based on application of these devices, neurosurgery is expected to be the leading category under the segment.
This owes to the rising instance of neurological diseases and disorders across the globe. On a regional footing, North America is projected to reign over all other regions because of the increasing demand for non-invasive surgeries in the region.
Need for Accurate Information During Surgeries to Accentuate Market Growth
The prime reason behind the adoption of guided surgery devices is their ability to excavate precise results. The medical fraternity is making fructuous efforts to ensure that surgeries are conducted with the aid of accurate information, which would in turn enhance the success rate.
This has been a prudent factor driving the growth of the market worldwide. Moreover, the guided surgery devices have become the watchword for intricate surgeries because they these devices help the surgeons navigate through the process and plan better surgical operations. Patients have lately become immensely accepting of minimally invasive treatments which has led healthcare units to induct these devices within the framework. Chronic ailments such as cancer and osteoporosis have spread across a wider populace than before which makes it integral for the healthcare industry to have combat mechanisms. This is also an important pretext that is anticipated to bolster the market demand.
The geriatric population is prone to neurological disorders and suffers greater ailment during injuries. The low immunity makes it difficult for them recover from the side-effects of invasive treatments which calls for non-invasive treatment methods. The aforementioned factors play a vital role in enhancing the growth of the market. It is integral for various healthcare units tpo address the medical concerns of an increasing geriatric population by expanding the induction of guided surgery devices.
Unawareness in Certain Regions to Act as a Market Inhibitor
The lack of awareness with regards to the usage of these devices poses a threat to the growth of the market. Huge chunks of remote areas are still unexposed to the perks of these devices which not only shows the dismal picture in those regions but also points to the unexploited market potential. The costs of installing these devices is often beyond the affordability standards of healthcare units in developing countries. This also slacken progress. However, several government initiatives have surfaced across the world to strengthen the healthcare industry that shall be an important market booster.