The global image guided surgery devices market has been foreseen to exhibit a tight competition between top players based on innovation. Partnership programs and collaborations could be among the key strategies adopted by players to stimulate production innovation while entering the market.
However, this trend has been envisaged to foster the growth of both new entrants as well as settled players. According to Transparency Market Research (TMR), Zimmer Holdings, Inc., Smith & Nephew plc, St.Jude Medical, Inc., Stryker, and Medtronic, Inc. could showcase their prominence in the market.
A report authored by TMR has prophesied the global image guided surgery devices market to be pampered by a US$4.8 bn growth to be achieved by 2022. Having dominated the market in the recent past, the neurosurgery application could continue securing a leading position for image guided surgery devices until the final forecast year.
This could be on account of image guided surgery devices facilitating a drastically improved operating accuracy level and minimized damage risk to non-surgical brain sites. According to region, North America has been anticipated to rake in a higher share by the same year due to rapid technological advancement and increasing healthcare expenditure.
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Rising Orthopedic, Neural Diseases Requiring Surgical Intervention Build Growth
The authors of the report have the opinion that the world image guided surgery devices market could be positively impacted by significant advantages of the surgical procedure. Of these, aggressive post-surgery healing rate, decrease in surgery scars, and strong drop in surgery time could be some of the most desperately required.
The growth of the market has been envisioned to be supported by the rising count of incidents associated with orthopedic issues, neural diseases, and physical trauma that necessitate surgical intervention.
Analysts have forecasted that the sale of image guided surgery devices could be influenced for good by the elevating prevalence of cancer and swelling global geriatric population size. By 2030, the number of new cancer patients could reach a 21.4 mn, as per the statistics of the International Agency for Research on Cancer (IARC).
On the other hand, according to the United Nations Department of Economic and Social Affairs (UNDESA), people aged 60 years or over could account for a 21.1% share in the global aging population by 2050.
High Installation Cost and Lack of Operational, Maintenance Skills Fade Demand
Although the international image guided surgery devices market has been projected to impress with its growth, the demand could be hampered by expensive installation cost and lack of skilled workforce. Furthermore, while a number of image guided surgery devices are still awaited for FDA approval, stringent regulatory guidelines could restrict the growth of the market.
Other factors such as emerging nations struggling to provide healthcare insurance have been expected to halt the demand for image guided surgery devices.
Nevertheless, there could be a wealth of business prospects about to show face in the international image guided surgery devices market. For instance, the enhancement of healthcare infrastructure and expanding scope of medical tourism have been prognosticated to increase the growth of the Asia Pacific market.
Ease of healthcare access with the implementation of various image guided surgery devices, surging government initiatives, and feasible reimbursement schemes could be more reasons that the international market has been predicted to improve its growth in future.
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