Image Guided Therapy System Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Product Type (Ultrasound Systems, Computed Tomography (CT) Scanners, Magnetic Resonance Imaging (MRI), Endoscopes, Positron Emission Tomography (PET), and Others); Application (Neurosurgery, Cardiac Surgery, Urology, Orthopedic Surgery, and Others); End-User (Hospitals, Ambulatory Surgery Centers, and Clinics); and Region/Country
The global image guided therapy system market is expected to grow at a significant rate of around 6% during the forecast period. Image-guided therapy interrogates the use of any form of medical imaging to plan, perform, and evaluate surgical procedures and therapeutic interventions. Techniques for image-guided therapy aid in making surgeries less invasive and more precise. The most prevalent methods are Computed Tomography (CT) and Magnetic Resonance Imaging (MRI). These techniques are likewise upheld by ultrasound, angiography, careful route hardware, following devices, and joining programming.
Moreover, the image-guided therapy system is expanding due to a number of factors, including an increase in initiatives for cancer radiotherapy, an increase in the burden of chronic diseases, and an increase in the elderly population. According to the GLOBOCAN 2020 report from the International Agency for Research on Cancer, which estimated the incidence and mortality of 36 cancers in 185 countries worldwide, an estimated 19,292,789 new cases of cancer were diagnosed in 2020 and approximately 9,958,133 people died from cancer worldwide.
Koninklijke Philips N.V., Medtronic Plc., Siemens Healthineers, Analogic Corporation, GE Healthcare, Varian Medical Systems Inc., Brainlab AG, Olympus Corporation, Stryker, FUJIFILM Holdings Corporation Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst application, cardiac surgery category to witness robust CAGR during the forecast period”
Based on application, the market is segmented into neurosurgery, cardiac surgery, urology, orthopedic surgery, and others. Amongst, the cardiac surgery category is to witness higher CAGR during the forecast period owing to the growing number of chronic diseases such as cardiovascular diseases, cancer, and the rising geriatric populatioN.
Also, during the forecast period, the neurosurgery sector is likely to expand at a profitable rate. This market is primarily driven by the high prevalence of neurological disorders and the rising number of accident and trauma cases.
“Amongst end-user, the hospitals to hold a significant share in the market in 2020”
On the basis of end-user, the market is categorized into hospitals, ambulatory surgery centers, and clinics. Among these, the hospitals to hold a significant share of the market in 2020. This is mainly due to the availability of neurovascular devices, skilled healthcare professionals, and the safety & efficacy during the treatment procedures. Moreover, the growing patient pool suffering from neurovascular diseases such as brain aneurysms, and arteriovenous malformations are also contributing to the growth of this market during the forecast period. For instance, according to the Brain Aneurysms Foundation, about 30,000 people in the United States suffer a brain aneurysm rupture each year.
“North America to hold a significant share in the market”
For a better understanding of the market adoption of the IMAGE GUIDED THERAPY SYSTEM industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. Due to its well-established healthcare infrastructure, rapid adoption of advanced radiation therapies, and technological advancements. Additionally, the high demand for minimally invasive procedures and value-based reimbursements in this region will boost the growth of the image guided therapy system market due to the region’s aging population and rising chronic disease cases. The well-established healthcare sector and the rising incidence of cancer are the primary drivers of the market’s expansion in the United States.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the IMAGE GUIDED THERAPY SYSTEM MARKET|
|2.2.||Research Methodology of the IMAGE GUIDED THERAPY SYSTEM MARKET|
|5||IMPACT OF COVID-19 ON THE IMAGE GUIDED THERAPY SYSTEM MARKET|
|6||IMAGE GUIDED THERAPY SYSTEM MARKET REVENUE, 2020-2028F|
|7.2.||Computed Tomography (CT) Scanners|
|7.3.||Magnetic Resonance Imaging (MRI)|
|7.5.||Positron Emission Tomography (PET)|
|9.2.||Ambulatory Surgery Centers|
|10.1.3.||Rest of North America|
|10.2.6.||Rest of Europe|
|10.3.4.||Rest of Asia-Pacific|
|10.4.||Rest of World|
|12||IMAGE GUIDED THERAPY SYSTEM MARKET OPPORTUNITIES|
|13||IMAGE GUIDED THERAPY SYSTEM MARKET TRENDS|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|16.1.1.||Porters Fiver Forces Analysis|
|17.1.||Koninklijke Philips N.V.|
|17.6.||Varian Medical Systems Inc.|
|17.10.||FUJIFILM Holdings Corporation|
Research Methodology for the image guided therapy system market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global image guided therapy system market were the three major steps undertaken to create and analyze the adoption of IMAGE GUIDED THERAPY SYSTEM in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global image guided therapy system market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the image guided therapy system market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the image guided therapy system market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, application, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the image guided therapy system market. Further, we conducted factor analysis using dependent and independent variables such as various product type, application, and end-users of IMAGE-GUIDED THERAPY SYSTEM. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the image guided therapy system market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global image guided therapy system market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the image guided therapy system market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global image guided therapy system market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global image guided therapy system market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, application, and end-user in the global image guided therapy system market.
The main objective of the Global image guided therapy system market Study
The current & future market trends of the Global image guided therapy system market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the image guided therapy system market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product type, application, and end-user.
- Define and analysis of the regulatory framework for the IMAGE-GUIDED THERAPY SYSTEM
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the image guided therapy system market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the image guided therapy system market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry