Image-guided Therapy Systems Market Size, Share, Growth, Trends and Forecast Report
by Susan Hill Business ConsultantThe
global image-guided therapy systems market size is
expected to reach USD 4.95 billion by 2025, according to a new report by Grand
View Research, Inc. The market is estimated to exhibit a healthy CAGR of 6.3%
during the forecast period. Growing geriatric population base and cases of
chronic diseases are expected to boost the market demand. Other factors
propelling the market growth include rising preference for minimally invasive
surgeries and technological advancements in image-guided therapy systems.
Various initiatives undertaken in the area of cancer radiotherapy is also one
of the important factors driving the market.
New product
launches by major companies is also having a positive impact on the market
development. For instance, in February 2017, Philips launched a next-generation
image guided therapy platform called Azurion for advancing patient care.
Growing adoption of such advanced systems is expected to drive the market.
Development of this system was aimed at optimizing interventional lab
performance, thereby ensuring superior care delivery. Increasing number of
initiatives undertaken by public and private firms in the area of cancer
radiotherapy is also estimated to have a positive impact on the market growth.
In addition,
many academic institutions are also investing in cancer radiotherapy projects
for increasing the effectiveness of treatment therapies. This is also likely to
contribute toward market expansion. The development of Image-guided Therapy
Program by the Brigham and Women’s Hospital aimed at advancing imaging and
therapeutic technologies for developing minimally invasive surgical and
interventional techniques is an example of one such initiative.
Further key
findings from the study suggest:
- Endoscopes segment
accounted for the largest revenue share in 2017 owing to technological
advancements, high volume of endoscope-guided surgeries, and rising
preference for minimally invasive surgeries
- Cardiac surgery
emerged as the largest application segment in 2017. This growth is
attributed to rising prevalence of target diseases, preference for
minimally invasive cardiac surgeries, and R&D initiatives aimed at
developing real-time cardiac interventions systems
- Hospitals
emerged as the largest end-use segment in 2017. However, Ambulatory
Surgery Centers (ASCs) segment is projected to expand at the
fastest CAGR of 7.3% over the forecast period
- North America
emerged as the largest regional market. Asia Pacific is anticipated to
exhibit the fastest growth rate of 7.6% during the forecast period
- The market is
consolidated with the presence of Koninklijke Philips N.V., Siemens
Healthineers, GE Healthcare, and Fujifilm Holdings Corporation accounting
for the majority market share. Analogic Corporation; Varian Medical
Systems, Inc.; Brainlab AG; Medtronic PLC; and Stryker Corp. are several
other prominent companies in the market.
Access full
research report on global image-guided therapy systems market:
www.grandviewresearch.com/industry-analysis/image-guided-therapy-systems-market
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Created on Sep 26th 2019 04:53. Viewed 332 times.