Image-guided Therapy Systems Market Will Hit 6.38% Growth Through 2030

Published Date : 24 May 2023

The global image-guided therapy systems market size surpassed USD 5.43 billion in 2022 and is predicted to attain over USD 8.9 billion by 2030, growing at a remarkable CAGR of 6.38% between 2022 and 2030.

Image-guided therapy or image-guided interventions support medical professionals by examining the devices inside the group of patients and delivering a three-layered image of the targeted region, making the medical treatment more secure and unobtrusive. Today, experts in a range of beneficial sectors, such as urology, muscular health, spine and nervous system, cardiovascular, vascular and endovascular disease, pain and damage, are able to anticipate medical treatments and make minute alterations to care for patients. The quality of healthcare has increased, and mortality rates have decreased because to technology. Treatment of complicated diseases, particularly cancer, has benefited from the use of computational tools in conjunction with improvements in imaging techniques. Some of the most widely used image-driven therapeutic systems on the market today include ultrasound, computed tomography scans, and magnetic resonance imaging.

Market Growth:

Improvements in therapeutic productivity and a decline in death rates were directly impacted by innovation plays. The use of computational approaches in conjunction with advancements in imaging techniques has assisted in the treatment of disease and other complex conditions. MRI, CT scans, and ultrasound are a few of the common image-guided therapy systems that are currently available on the market. They are used to both diagnose and treat complex disorders that exist within the body. Malignant growth incidence is rising rapidly year after year, which is piqueing interest in therapeutic approaches. Though they are frequently used in their treatment, image guided systems are used to discern between complex illnesses. The market for image-guided therapeutic systems has a starting point thanks to these viewpoints. The market is anticipated to expand due to the rising prevalence of chronic diseases and the ageing population. Market expansion is being driven by demand for minimally invasive procedures.

Image-guided Therapy Systems Market Report Scope:

Report Coverage Details
Market Revenue in 2023 USD 5.77 Billion
Projected Forecast Revenue in 2030 USD 8.9 Billion
Growth Rate from 2022 to 2030 CAGR of 6.38%
Largest Market Asia Pacific
Base Year 2022
Forecast Period 2022 to 2030
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Regional Analysis:

North America took the largest share of 38% in 2022 and is anticipated to maintain its lead over the test period. The factors boosting the growth of this market are a more advanced medical care system, mechanical advancements, and rapid adoption of cutting-edge radiation therapy. The growth of the local market is also being aided by the expanding geriatric population and the rise in persistent diseases. In 2020, the U.S., which accounted for 87% of offers, became the largest market in North America. Over the course of the forecast, Asia Pacific is expected to have the fastest CAGR. Its rapid rise is caused by reasons like the aging population, rising target disease cases, and better healthcare infrastructure.

Market Dynamics:

Market Drivers: image-guided therapy systems market

The demand for therapeutic methods is rising as cancer incidence rises quickly year after year. Image guided systems are widely employed in both the diagnosis and treatment of complex disorders. These elements set the stage for expansion in the market for image-guided treatment systems worldwide. Demand for image guided therapeutic systems is being driven by technological progress. The treatment produced side effects in earlier versions of this equipment, including the destruction of healthy cells and injury to nearby tissues. Players in the image guided therapy systems market are producing greater efficiency products to guarantee precision in the therapeutic process. These factors will increase demand for image guided therapeutic systems worldwide.

Market Opportunities: Better growth opportunities are projected to be provided by increasing financing for the invention and development of cost-effective image-guided therapeutic systems

The demand for minimally invasive procedures has doubled in recent years. Developing nations might also observe the improvements in surgical techniques. The governments in these areas are ready to provide better growth opportunities for the industry's manufacturers. This has led to the availability of numerous government programmes and financing, which has considerably accelerated the creation of innovative and economically viable image-guided systems in emerging markets. All of these issues are driving manufacturers and healthcare organizations to create and implement image-guided devices.

Market Restraints: The market expansion may be hampered by the poor uptake of image-guided therapy in low income nations as a result of the expensive equipment

The tools used in image-guided surgical procedures, which are typically minimally invasive procedures with limited or absent direct visibility, include catheters, micro-instruments, biopsy needles, endoscopes, and lasers. Installation costs for the MR unit, navigation system, and MR-compatible devices typically range from USD 5 million to USD 6 million. The additional annual operating expenses, which are comparable to those of a typical OR, would also be about USD 1 million, bringing the total cost for the five-year period to USD 10 million. Each treatment would cost at least an additional USD 2,000 per year, even if the MR machine provided 1,000 treatments annually. Whether patient outcomes will improve or hospital stays would be shorter is not yet evident. All of these elements could hamper the market's growth for image-guided therapeutic systems globally.

Market Challenges: A dearth of skilled professionals and high prices of therapy poses a major challenge to the market growth

A qualified medical professional is required for image-guided therapy, as well as enough time for the medical staff to move the imaging device through the patient's organs. All new technologies and procedures demand additional training for both imaging and conventional OR staff (physicians and nurses). Conducting outcomes studies too soon will have detrimental effects since it is impossible to evaluate the full benefits of breakthrough technology without enough staff training. It is advantageous to receive training before starting this research as a result. It is therefore more expensive than other screening/testing techniques. This can limit the market's growth.

Product Insights:

The largest component, 33%, in 2022 was the fragment for endoscopes. The two primary drivers of its largest income share are the growing acceptance of robot-assisted endoscopic medical procedures and the high cost of the equipment. Its extension has also been made possible by the significant number of endoscope-guided medical operations performed for various interventions. The segment is being driven by the growing incidences of gastrointestinal infections and malignant development, both of which have increased interest in interventional endoscopic devices.

Due to mechanical advancements in endoscopy and subsequent product launches, this segment is also predicted to develop at the fastest CAGR throughout the estimated time range. In November 2017, Apollo Endo-surgery received FDA approval for Overstitch Sx, a system for endoscopic stitching that allows for the assessment of delicate tissue and the endoscopic placement of stitches.

End User Insights:

The largest income component 42% in 2022 was accounted for by the medical clinic segment. The two primary factors influencing the segment are the increased variety of medical procedures and the widespread use of image guided therapy systems in clinics. Clinics are adopting these technologies as a result of the growing demand for clinical work processes that are more cost-effective. Image-guided therapy systems give experts and professionals access to patient information base records and, in a similar vein, foster precise, minutely detailed arrangements or the ideal route to the designated region. Ambulatory surgical centers (ASCs) are anticipated to expand at a 6.1% CAGR during the projection period. These medical care settings' advantages, such as reduced waiting times and high costs, are credited with this development.

Application Insights:

The largest percentage, 34%, was accounted for by cardiovascular medical procedures in 2022. Globally, cardiovascular diseases (CVDs) constitute the leading cause of death. The main factor contributing to the portion development is the rise in the number of elderly people, along with the weight of such ailments. The fragment development is strongly impacted by many research initiatives designed to advance continuous heart intercessions.

The CAGR of 6.8% for the neurosurgery segment over the benchmark period is likely to be the fastest. The main issue driving this segment is the rising incidence of accidents and injury cases and the high prevalence of neurological issues. The fragment growth is also being filled by increasing joint efforts among important organisations to develop new Image Guided Therapy Systems.

Recent Development:

  • In December 2020, InSightec and Royal Philips collaborated to develop MR-guided focused ultrasound that would aid in non-invasive neurosurgery, according to Royal Philips.
  • In September 2020, The cutting-edge image guided therapy stage Philips Azurion was launched, according to Philips. The platform enables clinicians to manage many tasks with the aid of a single touch screen. In November 2020, Royal Philips and LeQuest partnered to enable providers of medical services to receive online training for the Philips Ultrasound Affiniti framework. Image guided therapy systems have been injured by postponing non-dire procedures.

Major Key players:

  • Koninklijke Philips N.V.
  • Medtronic
  • Siemens Healthineers
  • Analogic Corporation
  • GE Healthcare
  • Varian Medical Systems, Inc.
  • Brainlab AG
  • Olympus Corporation
  • Stryker
  • Others

Market Segmentation:

By Product

  • Ultrasound Systems
  • Computed Tomography (CT) Scanners
  • Positron Emission Tomography (PET)
  • Endoscopes
  • Magnetic Resonance Imaging (MRI)
  • X-ray Fluoroscopy
  • Single Photon Emission Computed Tomography (SPECT)

By Application

  • Cardiac Surgery
  • Neurosurgery
  • Orthopedic Surgery
  • Urology
  • Oncology Surgery
  • Gastroenterology
  • Others

By End-use

  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgical Centers
  • Research & Academic Institutions
  • Others

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