The Rising Rate of Robotic Surgeries Drives the Demand for Image-Guided Surgery Equipment and Navigation-Assisted Surgical Equipment Market

 

Robotic or stereotactic surgeries have also been made possible by image guidance and localization. Image-guided surgical systems have transformed traditional surgical techniques by providing precise treatment guidance that can help ensure less tissue damage and, fewer complications, faster recovery while ensuring the best possible outcome for patients. For instance, IGS has significantly altered the landscape of cardiac treatment by providing a minimally invasive alternative to complex open-heart surgeries (angioplasty). These are the certain factors that helps the market to grow.

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Data Bridge Market Research analyses that the image-guided surgery equipment & navigation-assisted surgical equipment market is expected to grow at a CAGR of 6.1% in the forecast period of 2020 to 2027 and is expected to reach USD 11,250.25 million by 2027.

Image-Guided Surgery Equipment and Navigation-Assisted Surgical Equipment Market

Growing use of image-guided surgery equipment and navigation-assisted surgical equipment is expected to drive the market's growth rate

Image-guided surgery equipment and navigation-assisted surgical equipment are devices that aid in the performance of minimally invasive surgical procedures to protect people from the long-term consequences of chronic diseases. These devices are essential in saving patients' lives in cases of surgical needs for heart issues, trauma, and emergent cases, among other things. Regulatory bodies regulate image-guided surgery equipment and navigation-assisted surgical equipment because they are equipped with AI technologies and contain a variety of social and ethical issues. These devices provide technical assistance during surgical procedures and can also be used to perform proper surgery. These are some of the factors which help the market to grow.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2027

Base Year

2019

Historic Years

2018 (Customizable to 2012 - 2017)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Type (Systems, Instruments & Accessories, Services and Software), Application (Neurology, Otorhinolaryngology, Cardiology, Spine Surgery, Orthopedic Trauma Surgery, Urology, Oral-Maxillofacial Medicine and Dentistry, Oncology, Gynaecology, Thoracic Surgery, Abdominal Surgery, Ophthalmology, Respiratory, Minimally Invasive Revascularization Surgery, Other Surgeries), Procedure Type (Minimally Invasive, Open Surgery), Work Flow (Surgical Procedures, Preoperative Imaging, Surgical Planning), Usability (Reusable, Non-Reusable), Modality (Portable, Compact, Standalone, Handheld), End User (Hospitals, Ambulatory Surgical Centers, Cardiac Cath Lab, Clinics, Others), Distribution Channel (Direct Tender, Retail Sales)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Brainlab (Germany), GENERAL ELECTRIC COMPANY (U.S.), Medrobotics Corporation (U.S.), Medion (Germany), Stereotaxis, Inc. (U.S.), Titan Medical Inc. (Canada), PS-Medtech (Netherlands), Renishaw plc. (U.S.), Intuitive Surgical (U.S.), Zimmer Biomet (U.S.), Siemens Healthcare GmbH (Germany), Medtronic (Ireland), Hitachi Healthcare Americas (U.S.), Integra LifeSciences Corporation (U.S.), Smith & Nephew (U.K.), Koniklijke Philips N.V. (Netherlands), Smiths Medical (U.S.), Stryker (U.S.), Johnson & Johnson Services, Inc. (U.S.) among others.

Data Points Covered in the Report

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Segment Analysis:

Global image-guided surgery equipment & navigation-assisted surgical equipment market is categorized into eight notable segments which are based on the basis of type, application, procedure type, work flow, usability, modality, end user and distribution channel.

  • On the basis of type, the global image-guided surgery equipment & navigation-assisted surgical equipment market is segmented into systems, instruments & accessories, services and software. In 2020, systems segment is dominating the market with the market share of 59.8% due to rising neurosurgery and the applications have eventually evolved for preoperative as well as intraoperative functions.
  • On the basis of application, the global image-guided surgery equipment & navigation-assisted surgical equipment market is segmented into neurology, otorhinolaryngology, cardiology, spine surgery, orthopedic trauma surgery, urology, oral-maxillofacial medicine and dentistry, oncology, gynaecology, thoracic surgery, abdominal surgery, ophthalmology, respiratory, minimally invasive revascularization surgery and other surgeries.

In 2020, neurology segment is dominating the image-guided surgery equipment & navigation-assisted surgical equipment market

Neurology segment is dominating the market with the market share of 19.9% due to rise in surgeries.

  • On the basis of procedure type, the global image-guided surgery equipment & navigation-assisted surgical equipment market is segmented into open surgery and minimally invasive. In 2020, minimally invasive segment is dominating the market with the market share of 76.7% due to minimally invasive surgeries cause less damage to the body as compared to open surgeries, cause less complications, and reduces hospital costs, their demand is increasing.
  • On the basis of work flow, the global image-guided surgery equipment & navigation-assisted surgical equipment market is segmented into surgical procedures, preoperative imaging and surgical planning. In 2020, surgical procedures segment is dominating the market with the market share of 71.4% due to the increased availability of surgical facilities, road accidents, rising incidence of chronic diseases and other factors are driving the number of surgical procedures.
  • On the basis of usability, the global image-guided surgery equipment & navigation-assisted surgical equipment market is segmented into reusable and non-reusable. In 2020, reusable segment is dominating the market with the market share of 70.8% due to the reusable instruments which are more cost efficient as compared to non-reusable ones and hence preferred by end users.
  • On the basis of modality, the global image-guided surgery equipment & navigation-assisted surgical equipment market is segmented into portable, compact, standalone and handheld. In 2020, portable segment is dominating the market with the market share of 63.5% due to the portable systems which make it easier for end users as a different system is not required for every operating room.
  • On the basis of end user, the global image-guided surgery equipment & navigation-assisted surgical equipment market is segmented into hospitals, ambulatory surgical centers, cardiac cath lab, clinics and others. In 2020, hospitals segment is dominating the market with the market share of 59.5% due to increasing demand for minimally invasive surgeries and need for the reduction of costs associated with surgeries.
  • On the basis of distribution channel, the global image-guided surgery equipment & navigation-assisted surgical equipment market is segmented into direct tender and retail sales.

In 2020, direct tender segment is dominating the image-guided surgery equipment & navigation-assisted surgical equipment market

Direct tender segment is dominating the market with the market share of 80.1% due to benefits associated with services. Moreover, revenue from direct sales is higher for manufacturers and hence it is growing in the market.

Major Players

Data Bridge Market Research recognizes the following companies as the major market players in image-guided surgery equipment & navigation-assisted surgical equipment market are Brainlab (Germany), GENERAL ELECTRIC COMPANY (U.S.), Medrobotics Corporation (U.S.), Medion (Germany), Stereotaxis, Inc. (U.S.), Titan Medical Inc. (Canada), PS-Medtech (Netherlands), Renishaw plc. (U.S.), Intuitive Surgical (U.S.), Zimmer Biomet (U.S.), Siemens Healthcare GmbH (Germany), Medtronic (Ireland), Hitachi Healthcare Americas (U.S.), Integra LifeSciences Corporation (U.S.), Smith & Nephew (U.K.), Koniklijke Philips N.V. (Netherlands), Smiths Medical (U.S.), Stryker (U.S.), Johnson & Johnson Services, Inc. (U.S.) among others.

Image-Guided Surgery Equipment and Navigation-Assisted Surgical Equipment Market

Market Development

  • In February 2020, Intuitive Surgical acquired Orpheus Medical to reinforce and expand its integrated informatics platform. This acquisition by Intuitive Surgical will surge its credibility in the market.
  • In October 2019, Brainlab launched Loop-X, a brand new mobile intraoperative imaging robot, at the NASS 2019 conference in Chicago. This new product launch strengthened the company's robotic surgery equipment business in the market, resulting in increased sales and revenue in the future.
  • In May 2019, Stereotaxis, Inc. launched its next-generation robotic platform, Genesis RMN, to treat cardiac arrhythmias. This new product launch expands its product portfolio in the market, which will lead to increased demand in the future.

Regional Analysis

Geographically, the countries covered in the image-guided surgery equipment & navigation-assisted surgical equipment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

As per Data Bridge Market Research analysis:

North America is the dominant region in image-guided surgery equipment & navigation-assisted surgical equipment market during the forecast period 2020 - 2027

In 2019, North America dominated the Image-guided surgery equipment & navigation-assisted surgical equipment market due to the high adoption of image-guided surgery equipment & navigation-assisted surgical equipment for the abdominal surgery procedures in the region.

Asia-Pacific is estimated to be the fastest growing region in image-guided surgery equipment & navigation-assisted surgical equipment market the forecast period 2020 - 2027

Asia-Pacific is expected to grow during the forecast period due to the growing awareness regarding minimally invasive robotic assisted surgical procedures. China is dominating Asia-Pacific market due to growing government initiatives to increase awareness about robotic assisted and image guided surgeries.

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