Image-guided Therapy Systems Market by Product (Positron Emission Tomography (PET), Magnetic Resonance Imaging (MRI), and Others), Application (Oncology, Cardiology and Electrophysiology, Neurosurgery, and Others), and End-Use (Ambulatory Surgery Centers and Hospitals): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024

Global image-guided therapy systems market expected to generate revenue of around USD 4717.96 million by end of 2024, growing at a CAGR of around 6.47% between 2018 and 2024. Image-guided therapy is the practice of using medical imaging to arrange, execute, and assess therapeutic interventions and surgical procedures.

25-Sep-2018 | Number of pages: 110 | Report Code: ZMR-3377 | Report Format : | Status : Published

Analysis

Image-guided therapy is the practice of using medical imaging to arrange, execute, and assess therapeutic interventions and surgical procedures. Surgeries can be made more precise and less invasive by using image-guided therapy systems. On the other hand, minimally invasive surgeries are steered by image-guided therapy systems. Magnetic Resonance Imaging (MRI), Positron Emission Tomography (PET), and Computed Tomography (CT) scan are the most commonly used image-guided therapy procedures. Magnetic Resonance Imaging (MRI) is used to form detailed pictures of the organs in the body by employing radio waves, strong magnetic fields, and magnetic field gradients. A Positron Emission Tomography (PET) scan uses a radioactive drug to reveal the functioning of tissues and organs. In Computed Tomography (CT) scan, a slender beam of X-rays is aimed at a subject and rapidly rotated around the body producing signals. These signals are processed by the computer to develop cross-sectional images of the body.

Image-guided therapy systems have been used in a wide variety of disorders and conditions. The most important and popular application of image-guided therapy systems is in the treatment of cancer. The development of new innovative image-guided systems has made cancer treatment less invasive, more targeted, and economical. Use of imaging to spearhead treatment procedures allows the physicians to precisely focus on the tumor. This targeted treatment keeps the healthy tissue unharmed and reduces the side effects to a great extent. Recently many studies have shown that local tumor ablation based treatment approaches are more effective in the treatment of cancer. In thermal ablation therapy, instead of removing the tumor surgically it is destroyed at its place by increasing the temperature inside the tumor above lethal levels. Thermal ablation therapy is a localized cancer treatment that reduces hospital stay and is well tolerated by the patients. Image-guided therapy systems are required at all the levels of treatment such as planning, targeting, heating, and validation. In thermal ablation, MRI (Magnetic Resonance Imaging), US (Ultrasonography), and CT (Computed Tomography) are used.

Global Image guided Therapy Systems Market

According to the World Health Organization (WHO), cardiovascular diseases are the number one cause of death worldwide. According to WHO estimates, around 17.7 million people died from cardiovascular diseases in 2015. According to WHO, cancer causes a second highest number of deaths around the world. In 2018, the number of cancer-related deaths was around 9.6 million. One in six deaths in the world is due to cancer. The majority (approximately 70%) of cancer-related deaths take place in middle and low-income nations.   
  
Factors such as growing incidence of chronic conditions like hypertension and cardiovascular disorders, increasing inclination towards minimally invasive procedures, advantages of image-guided therapies like reduction of post-operative complications, and increased government spending on healthcare will act as driving factors in the growth of global image-guided therapy systems market. Moreover, increasing investments by major companies and a growing number of cancer cases will boost the global image-guided therapy systems market. The rise in research and development activities leading to the development of new and improved image-guided systems will act as an opportunity for the market players in the image-guided therapy systems market. However, high costs related to these therapy systems and lack of skilled professionals in developing regions will restrict the growth of global image-guided therapy systems market.

The global image-guided therapy systems market has been segmented into product, application, end-use, and region. The product segment has been segmented into Positron Emission Tomography (PET), Magnetic Resonance Imaging (MRI), and others. Magnetic Resonance Imaging (MRI) segment holds the maximum share of the product segment owing to its wide application range. Based on the application, image-guided therapy systems market has been segmented into oncology, cardiology and electrophysiology, neurosurgery, and others. Based on end-use, the image-guided therapy systems market has been segmented into ambulatory surgery centers and hospitals.

North America will be the leading region during the forecast period. Presence of major companies and increased government funding for the accommodation of image-guided therapies at research centers will drive the market growth in this region. Europe will be the second largest market. The Asia Pacific is expected to grow at a rapid rate over the forecast period. Increasing prevalence of cardiovascular disorders and cancer will boost the image-guided therapy systems market in this region. Latin America market will grow at a conservative rate during the forecast period. The Middle East and Africa are expected to experience a reasonable market growth in the near future.

Some of the key players in the image-guided therapy systems market include Toshiba Medical Systems, Koninklijke Philips N.V., General Electric Company, Medtronic Plc, Siemens AG, Image Guided Therapy, Brain Lab AG, and Varian Medical System, Inc., among others.


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