Global Image-guided Therapy Systems Market Set For Rapid Growth, To Reach Around USD 4717.96 Million By 2024

25-Sep-2018 | Zion Market Research

Zion Market Research has published a new report titled “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”. According to the report, global image-guided therapy systems market was valued at approximately USD 3046.6 million in 2017 and is 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. 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. The most widely used imaging techniques are Magnetic Resonance Imaging (MRI), Positron Emission Tomography (PET), Ultrasonography (US), and Computed Tomography (CT).

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Global Image guided Therapy Systems Market

Image-guided therapy systems have been used in a wide variety of disorders and conditions. The treatment of cardiovascular diseases can be made less invasive and more targeted by using image-guided therapy systems. Imaging devices are used at all stages of treatment including diagnosis, treatment, and analysis. New innovations in image-guided procedures have enabled clinicians to carry out targeted and minimally invasive procedures. The use of image-guided therapy systems results in improved patient care, faster recoveries, and reduced costs. Procedures such as percutaneous coronary intervention (PCI) have brought a change in the way cardiovascular procedures are performed. PCI is a minimally invasive procedure that treats coronary artery disease by using real-time image guidance.

Image-guided therapy systems are also widely used in the treatment of cancer. 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. Imaging devices are employed at all the stages of cancer treatment. At the planning stage, the CT and MRI images are used to define the tumor. The tumor is then targeted by using focused ultrasound.

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. Out of these, around 7.4 million deaths were due to coronary heart disease and stroke accounted for around 6.7 million deaths. More than 75% of cardiovascular diseases related deaths occur in middle and low-income countries. 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. The most important cancer-causing factor is tobacco. Tobacco consumption is responsible for around 22% of cancer deaths.

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 the 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 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.

Asia Pacific, North America, the Middle East & Africa, Latin America, and Europe are the main regional segments of global image-guided therapy systems market. North America will remain the principal region during the forecast period and Europe will be the second dominant region. Demand for image-guided therapy systems market products was highest in North America especially in the U.S. Asia Pacific is expected to be the highest growing region in image-guided therapy systems market during the forecast period. Moreover, the Middle East & Africa and Latin America are also expected to show moderate growth for this market in the years to come.

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.

This report segments the global image-guided therapy systems market as follows:

Global Image-guided Therapy Systems Market: By Product

  • Positron Emission Tomography (PET)
  • Magnetic Resonance Imaging (MRI)
  • Others

Global Image-guided Therapy Systems Market: By Application

  • Oncology
  • Cardiology and Electrophysiology
  • Neurosurgery
  • Others

Global Image-guided Therapy Systems Market: By End-Use

  • Ambulatory Surgery Centers
  • Hospitals

Global Image-guided Therapy Systems Market: By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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