Market Analysis: Surgical Imaging Market Worth $1.25 Billion by 2019

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The global surgical imaging market is expected to eclipse the $1 billion mark by the end of the decade.

A report from MarketsandMarkets that studies the global surgical imaging market during the forecast period of 2014 to 2019 predicts continued growth for this imaging segment of the heath care market. The global surgical imaging market was estimated at $933.6 million in 2014 and is expected to reach $1.25 billion by 2019, according to MarketsandMarkets. The report also indicates that the market will increase at a compound annual growth rate of 6 percent during the forecast period.

Based on products, the surgical imaging market is comprised of mobile C-arms and mini C-arms. The application areas of surgical imaging are categorized into mobile C-arm applications and mini C-arm applications. The applications for mobile C-arms are orthopedic and trauma, neurosurgery, cardiovascular, and gastroenterology surgery, while the applications for mini C-arms are hand and wrist, foot and ankle, and pediatric surgery.

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“The major driver of this market is changing trends toward advanced cooling and flat-panel technology, more intuitive platforms with high speeds up workflow,” according to MicroMarket Monitor. “Less overheating also drastically improves safety and efficiency. Also, continued growth in minimally invasive surgery, spine surgery and hip surgery, and improved workflow such as improved ergonomics, easier usage, and facilitating efficient feeding of data into the PACS archive and EMR are the major driving factor of this market.”

“The availability of private and public funding for the purchase of surgical imaging equipment is a major driver for the market in North America,” MicroMarket Monitor adds. “Furthermore, regional governments have taken the initiative to modernize their hospitals in their respective regions. This has resulted in an increased demand for surgical equipment such as mobile C-arms in North America. In the Asian market, the rise in the number of hospitals is a major driver for the market. Furthermore, the availability of competitively priced mobile C-arms and increase in aging population aid market growth in the region.”

“North America accounted for the largest share of the surgical imaging market followed by Europe and Asia,” according to MarketsandMarkets. “The dominance of the North American market can be attributed (to) the increasing prevalence of sports injuries in this region as well as the availability of private and government funding for the purchase of surgical imaging equipment. However, the Asian market is expected to experience the highest growth in the surgical imaging market. The high growth in the Asian region can be attributed to (an) increase in aging population, rise in the number of hospitals, government funding, and the availability of competitively priced surgical imaging equipment in this region.”

GE Healthcare, Siemens AG, Koninklijke Philips N.V., Ziehm Imaging, Toshiba Corp., Shimadzu Corp., Hologic Inc., OrthoScan and Eurocolumbus are listed by MarketsandMarkets as some of the prominent players in the global surgical imaging market.

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