Surgical Imaging Market Size (2024 - 2029)

The surgical imaging market is projected to experience growth over the forecast period, driven by advancements in imaging techniques and the increasing demand for diagnostic imaging due to the rising prevalence of chronic diseases. The market's expansion is supported by the need for critical care diagnosis in surgical intensive care units and the growing incidence of conditions such as cardiovascular disorders and chronic obstructive pulmonary disease. Additionally, product launches and competitive activities within the surgical imaging sector are expected to further propel market growth. However, challenges such as high procedural and equipment costs, along with stringent regulatory guidelines, may hinder the market's expansion.

Market Size of Surgical Imaging Industry

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Surgical Imaging Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 6.10 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Surgical Imaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Surgical Imaging Market Analysis

The surgical imaging market is expected to register a CAGR of 6.1% over the forecast period.

During the initial phase of the COVID-19 pandemic, there was a severe reduction in the number of medical imaging services provided all over the world, owing to the fear of the risk of contamination, and the non-availability of certain imaging agents, such as radiotracers, which heavily impacted the growth of the market. For instance, as per the article published in November 2021 in PubMed, the COVID-19 epidemic resulted in a considerable decrease in radiology imaging and procedures. The overall reduction in radiology services was determined by the stage/period of lockdown, location, and imaging modality. As per the same source, a 76% reduction in ultrasound, 74 % reduction in MRI, and 66% reduction in mammography were reported. However, in the post-pandemic situation, as the restrictions are lifted, the market is gaining demand due to the advancements in surgical imaging techniques and the need for diagnostic imaging for chronic diseases.

Over the last decade, there has been a rise in the prevalence of several chronic diseases that need critical care diagnosis. The patients in the surgical intensive care unit frequently undergo laboratory and imaging testing. Several chronic diseases, such as hypertension, diabetes, obesity, and depression, amongst others, need critical care during their hospitalizations. The high prevalence of cardiovascular disorders is expected to boost the demand for surgical imaging services, thereby propelling the market growth. For instance, according to the 2022 UK Factsheet by BHF, over 7.6 million people in the United Kingdom were living with heart and circulatory diseases as of August 2022. The factsheet indicated that heart and circulatory diseases cost the nation over EUR 9 billion (USD 7.6 billion) every year. Moreover, the large population affected by cardiovascular diseases along with the associated high annual healthcare costs are expected to boost the growth of the studied market over the forecast period. Also, chronic obstructive pulmonary disease (COPD), a type of respiratory disease is chronic inflammation in the lungs that causes obstructed airflow from the lungs. The disease is generally diagnosed with the help of chest X-ray, CT, and magnetic resonance imaging (MRI). According to the research briefing by the United Kingdom House of Commons published in November 2021, there were over 1.17 million people in England who had been diagnosed with COPD, accounting for around 1.9% of the population. The huge population affected by COPD increases the demand for surgical imaging services for proper therapy and management, thereby propelling market growth over the forecast period.

Furthermore, product launches, the presence of competitors, mergers, and acquisitions relating to the surgical imaging field are likely to boost the market growth over the forecast period. For instance, in July 2022, Siemens Healthineers received approval from the FDA for the ARTIS icono ceiling, a ceiling-mounted C-arm angiography system designed for a wide range of routine and advanced procedures in interventional radiology (IR) and cardiology. Furthermore, in April 2022, Wipro GE Healthcare, a medical technology, and digital solutions innovator launched its next-generation Revolution Aspire CT (Computed Tomography) scanner. Revolution Aspire is designed and manufactured end-to-end in India, at the newly launched Wipro GE Medical Devices Manufacturing plant, in line with the 'Atmanirbhar Bharat' initiative. Hence, such product launches associated with the surgical imaging field are likely to boost market growth over the forecast period.

Hence, due to the rise in chronic diseases and the increase in demand for minimally invasive procedures, the market for surgical imaging is anticipated to grow over the forecast period. However, the high procedural and equipment costs and the stringent regulatory guidelines are expected to restrict the market growth during the forecast period.

Surgical Imaging Industry Segmentation

As per the scope of the report, surgical imaging is any surgical procedure where the surgeon uses tracked surgical instruments in conjunction with the preoperative or intraoperative images, in order to directly or indirectly guide the procedure. The Surgical Imaging Market is segmented By Technology (Magnetic resonance imaging, Computed Tomography, C-Arm (Fixed C-Arm and Mobile C-Arm), Ultrasound, and Other Technologies), By Application (Cardiac and Vascular Surgery, Neurosurgery, Orthopedic and Trauma Surgery, Gastrointestinal Surgery, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Imaging Technology
Magnetic resonance imaging
Computed Tomography
C-Arm
Fixed C-Arm
Mobile C-Arm
Ultrasound
Other Imaging Technologies
By Application
Cardiac and Vascular Surgery
Neurosurgery
Orthopedic and Trauma Surgery
Gastrointestinal Surgery
Other Applications
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Surgical Imaging Market Size Summary

The surgical imaging market is poised for growth, driven by advancements in imaging techniques and the increasing demand for diagnostic imaging to address chronic diseases. The market experienced a setback during the COVID-19 pandemic due to reduced medical imaging services, but has since rebounded as restrictions have eased. The rising prevalence of chronic conditions such as cardiovascular diseases, COPD, and other critical care needs has fueled the demand for surgical imaging services. This demand is further bolstered by the growing inclination towards minimally invasive procedures, which require precise imaging for effective diagnosis and treatment. The introduction of innovative products and technologies, such as mobile C-arms and advanced CT scanners, is expected to enhance market growth, despite challenges posed by high costs and regulatory hurdles.

North America is anticipated to be a significant growth region for the surgical imaging market, supported by robust healthcare infrastructure and the availability of reimbursement options. The region's high prevalence of chronic diseases and genetic disorders, coupled with the increasing demand for minimally invasive procedures, is likely to drive market expansion. The competitive landscape is characterized by the presence of major players like Canon Medical Systems Corporation, Medtronic Plc, Hologic Inc, and General Electric Company, who are focusing on differentiating their offerings through advanced imaging systems. Product launches, strategic partnerships, and regulatory approvals are expected to further propel market growth, as companies strive to meet the evolving needs of healthcare professionals and patients.

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Surgical Imaging Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Growing Demand of Minimally Invasive Procedures

      2. 1.2.2 Growing Burden of Chronic Diseases

    3. 1.3 Market Restraints

      1. 1.3.1 High Procedural and Equipment Costs

      2. 1.3.2 Stringent Regulatory Guidelines

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - in USD Millions)

    1. 2.1 By Imaging Technology

      1. 2.1.1 Magnetic resonance imaging

      2. 2.1.2 Computed Tomography

      3. 2.1.3 C-Arm

        1. 2.1.3.1 Fixed C-Arm

        2. 2.1.3.2 Mobile C-Arm

      4. 2.1.4 Ultrasound

      5. 2.1.5 Other Imaging Technologies

    2. 2.2 By Application

      1. 2.2.1 Cardiac and Vascular Surgery

      2. 2.2.2 Neurosurgery

      3. 2.2.3 Orthopedic and Trauma Surgery

      4. 2.2.4 Gastrointestinal Surgery

      5. 2.2.5 Other Applications

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Middle East and Africa

        1. 2.3.4.1 GCC

        2. 2.3.4.2 South Africa

        3. 2.3.4.3 Rest of Middle East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Surgical Imaging Market Size FAQs

The Surgical Imaging Market is projected to register a CAGR of 6.10% during the forecast period (2024-2029)

Canon Medical Systems Corporation, Medtronic Plc, Hologic Inc, General Electric Company (GE healthcare) and Siemens Healthineers are the major companies operating in the Surgical Imaging Market.

Surgical Imaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)