The global image guided surgery market size was estimated to be USD 7.85 billion in 2023 and is expected to reach at USD 20.16 billion by 2034 with a CAGR of 8.96% during the forecast period 2024-2034. Increasing adoption of surgical navigation systems for minimally invasive surgeries, growing prevalence of cardiovascular disorders, surge in technological advancements in surgical navigation systems, rising focus on development of innovative devices, increasing launch of new products, growing demand for image guided surgical systems by surgeons, surge in approvals by regulatory bodies, and rising launch of advanced image-guided surgery systems are several important elements driving the market's expansion.
Rising launch of advanced image-guided surgery systems is predicted to boost the market growth during the forecast period. A number of illnesses can be diagnosed and treated with the use of image-guided surgical equipment. Surgery may be performed more precisely and successfully by employing image guided technology. For instance, in September 2022, Olympus Corporation has unveiled its latest surgical visualization platform, known as VISERA ELITE III, to cater to the needs of Healthcare Professionals (HCPs) conducting endoscopic procedures across various medical specialties.
By product, image guided surgery devices was the highest revenue-grossing segment in the global image guided surgery market in 2023 owing to rising demand for computed tomography (CT) scanners due to the effectiveness in acquiring accurate interior pictures of the body without intrusive procedures for diagnostic reasons, increasing demand for various image guided systems, and growing launch of advanced systems. For instance, in May 2022, Internationally, Philips has introduced EchoNavigator 4.0, the latest version of their image-guided treatment system designed for addressing structural heart disease. Additionally, image guided surgery software is predicted to grow at fastest CAGR during the forecast period owing to the surge in technological advancements and increasing launch of technologically advanced products.
By application, neurosurgery was the highest revenue-grossing segment in the global image guided surgery market in 2023 owing to increasing demand of advanced systems for the neurosurgery, surge in approvals by regulatory bodies, and growing research & development activities. Additionally, cardiac surgery is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of cardiovascular diseases, rising technological advancements, and increasing launch of advanced systems. For instance, in June 2022, GE Healthcare has introduced the Allia platform, a product designed for minimally invasive, image-guided surgical procedures. This new platform is the result of a collaborative effort with surgeons and interventionists over several years, with the goal of enhancing the user experience, streamlining workflow efficiency, and promoting the integration of advanced image guidance into everyday medical practices.
By end-user, hospitals was the highest revenue-grossing segment in the global image guided surgery market in 2023 owing to the various options for therapy that hospitals provide make it simple to find them, and increasing demand for cutting-edge image guided systems for urology & cancer surgery. Additionally, clinics is predicted to grow at fastest CAGR during the forecast period owing to the surge in adoption of advanced imaging systems, growing technological advancements, and surge in mergers & acquisitions among market players. For instance, in January 2022, Alcon has expanded its global surgical portfolio by acquiring Ivantis, Inc., which includes the addition of the Hydrus Microstent.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising focus on development of better treatment facilities, growing number of research & development centers, and increasing funding by major market players. For instance, in January 2023, INOVAIT, in collaboration with the Canadian government, has declared a substantial investment in IGT (Image-Guided Therapy). The INOVAIT focus fund offers financial support for projects lasting one-third of the year that integrate artificial intelligence, minimally invasive surgery, and advanced imaging. The aim of this initiative is to expedite and enhance the efficiency of the IGT process throughout Canada. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of chronic & neurological diseases, increasing demand for minimally invasive procedures, rising incorporation of artificial intelligence in medical imaging, and surge in launch of innovative products. For instance, in July 2022, Fujifilm Healthcare has unveiled the FDR Cross in the United States, an innovative hybrid c-arm and portable x-ray solution designed for use in hospitals and ambulatory surgery centers (ASC). This dual-purpose c-arm is groundbreaking as it provides both portable fluoroscopic and radiographic imaging capabilities on a single platform, eliminating the requirement for additional imaging equipment during essential image-guided procedures.
Rising launch of advanced image-guided surgery systems is predicted to boost the market growth during the forecast period. A number of illnesses can be diagnosed and treated with the use of image-guided surgical equipment. Surgery may be performed more precisely and successfully by employing image guided technology. For instance, in September 2022, Olympus Corporation has unveiled its latest surgical visualization platform, known as VISERA ELITE III, to cater to the needs of Healthcare Professionals (HCPs) conducting endoscopic procedures across various medical specialties.
By product, image guided surgery devices was the highest revenue-grossing segment in the global image guided surgery market in 2023 owing to rising demand for computed tomography (CT) scanners due to the effectiveness in acquiring accurate interior pictures of the body without intrusive procedures for diagnostic reasons, increasing demand for various image guided systems, and growing launch of advanced systems. For instance, in May 2022, Internationally, Philips has introduced EchoNavigator 4.0, the latest version of their image-guided treatment system designed for addressing structural heart disease. Additionally, image guided surgery software is predicted to grow at fastest CAGR during the forecast period owing to the surge in technological advancements and increasing launch of technologically advanced products.
By application, neurosurgery was the highest revenue-grossing segment in the global image guided surgery market in 2023 owing to increasing demand of advanced systems for the neurosurgery, surge in approvals by regulatory bodies, and growing research & development activities. Additionally, cardiac surgery is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of cardiovascular diseases, rising technological advancements, and increasing launch of advanced systems. For instance, in June 2022, GE Healthcare has introduced the Allia platform, a product designed for minimally invasive, image-guided surgical procedures. This new platform is the result of a collaborative effort with surgeons and interventionists over several years, with the goal of enhancing the user experience, streamlining workflow efficiency, and promoting the integration of advanced image guidance into everyday medical practices.
By end-user, hospitals was the highest revenue-grossing segment in the global image guided surgery market in 2023 owing to the various options for therapy that hospitals provide make it simple to find them, and increasing demand for cutting-edge image guided systems for urology & cancer surgery. Additionally, clinics is predicted to grow at fastest CAGR during the forecast period owing to the surge in adoption of advanced imaging systems, growing technological advancements, and surge in mergers & acquisitions among market players. For instance, in January 2022, Alcon has expanded its global surgical portfolio by acquiring Ivantis, Inc., which includes the addition of the Hydrus Microstent.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising focus on development of better treatment facilities, growing number of research & development centers, and increasing funding by major market players. For instance, in January 2023, INOVAIT, in collaboration with the Canadian government, has declared a substantial investment in IGT (Image-Guided Therapy). The INOVAIT focus fund offers financial support for projects lasting one-third of the year that integrate artificial intelligence, minimally invasive surgery, and advanced imaging. The aim of this initiative is to expedite and enhance the efficiency of the IGT process throughout Canada. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of chronic & neurological diseases, increasing demand for minimally invasive procedures, rising incorporation of artificial intelligence in medical imaging, and surge in launch of innovative products. For instance, in July 2022, Fujifilm Healthcare has unveiled the FDR Cross in the United States, an innovative hybrid c-arm and portable x-ray solution designed for use in hospitals and ambulatory surgery centers (ASC). This dual-purpose c-arm is groundbreaking as it provides both portable fluoroscopic and radiographic imaging capabilities on a single platform, eliminating the requirement for additional imaging equipment during essential image-guided procedures.
Segmentation: Image Guided Surgery Market Report 2022 - 2033
Image Guided Surgery Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Image Guided Surgery Devices
- Endoscopes
- Ultrasound Systems
- Magnetic Resonance Imaging (MRI)
- X-ray Fluoroscopy Devices
- Computed Tomography (CT) Scanners
- Positron Emission Tomography (PET) Devices
- Single Photon Emission Computed Tomography (SPEC T) Devices
- Image Guided Surgery Software
Image Guided Surgery Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Gastroenterology Surgery
- Neurosurgery
- Cardiac Surgery
- Urology
- Oncology Surgery
- Orthopedic Surgery
- Others
- Pulmonary Surgery
- ENT
- Dental
Image Guided Surgery Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Clinics
- Hospitals
- Academic & Research Institutes
- Ambulatory Surgical Centers
Image Guided Surgery Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Image Guided Surgery Market: Product Estimates & Trend Analysis
8. Image Guided Surgery Market: Application Estimates & Trend Analysis
9. Image Guided Surgery Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Image Guided Surgery Market
12. Europe Global Image Guided Surgery Market
13. Asia Pacific Global Image Guided Surgery Market
14. Latin America Global Image Guided Surgery Market
15. MEA Global Image Guided Surgery Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Olympus Corporation
- GE Healthcare
- Stryker Corporation
- Koninklijke Philips N.V.
- Karl Storz Gmbh & Co. KG
- Analogic Corporation
- Medtronic Plc.
- Siemens Healthineers
- Varian Medical Systems Inc.
- Brainlab AG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | October 2023 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 7.85 Billion |
| Forecasted Market Value ( USD | $ 20.16 Billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
