Author: Vikas Kumar
14 January 2023
The Image-Guided Therapy System Market is expected to witness a CAGR of around 6% during the forecast period. Any procedure in which a surgeon uses real-time images of the body’s interior during an operation is called image-guided surgery. Surgical procedures and therapeutic interventions are planned, carried out, and evaluated with the help of image-guided therapy (IGT) systems. They enable medical professionals to provide real-time treatment, resulting in shorter hospital stays and fewer recurrent procedures. They likewise offer integrated solutions for cutting-edge minimally invasive surgeries (MIS).
Furthermore, the growing demand for image-guided therapy systems is due to an increasing number of chronic diseases and the aging population. The growing preference for minimally invasive surgeries and technological advancements in image-guided therapy systems are also driving the industry’s expansion. The industry is being driven by a number of initiatives in the field of cancer radiotherapy. For instance, according to the WHO, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths.
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Based on product type, the market is segmented into ultrasound systems, computed tomography (CT) scanners, magnetic resonance imaging (MRI), endoscopes, positron emission tomography (PET), and others. Among these, the endoscopes category is to witness a considerable CAGR during the forecast period. This is mainly due to the rising incidence of patients suffering from gastrointestinal diseases, cardiology, neurology, orthopedic surgeries, inflammation, biopsy, and the rising geriatric population worldwide. For instance, according to research In 2019, the global prevalence of peptic ulcer disease (PUD) was approximately 8 million, representing a 25.82% increase from 1990.
On the basis of application, the market is categorized into neurosurgery, cardiac surgery, urology, orthopedic surgery, and others. Among these, cardiac surgery to hold a significant share of the market in 2020. This is mainly due to the increasing number of chronic diseases such as cardiovascular diseases; and the rising geriatric population worldwide.
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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 hold a significant share during the forecast period. This market is expanding due to the rapid adoption of advanced radiation therapies, technological advancements, and improved healthcare infrastructure. Regional market expansion is also being aided by the rising number of elderly people and chronic diseases. Additionally, the increasing awareness among the elderly population about minimally invasive procedures will drive market growth in this region. According to World Population Ageing, in 2019, the elderly population of North America was 59.9 million which is expected to reach 96.2 million by 2050.
Some of the major players operating in the market include Koninklijke Philips N.V., Medtronic Plc., Siemens Healthineers, Analogic Corporation, GE Healthcare, Varian Medical Systems Inc., Brainlab AG, Olympus Corporation, Stryker, FUJIFILM Holdings Corporation
Global Image Guided Therapy System Market Segmentation
Market Insight, by Product Type
Market Insight, by Application
Market Insight, by End-User
Market Insight, by Region
Top Company Profiles
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