Image-guided Therapy Systems Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Feb 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Image-guided Therapy Systems market size is expected to be worth around US$ 6.2 billion by 2030, according to a new report by Vision Research Reports.

The global Image-guided Therapy Systems market size was valued at US$ 2.2 billion in 2020 and is anticipated to grow at a CAGR of 6.02% during forecast period 2021 to 2030.

Growth Factors

The growing geriatric population base and increasing cases of chronic diseases are expected to boost the market growth. Other factors propelling the market growth include a rising preference for minimally invasive surgeries and technological advancements in image-guided therapy systems. Various initiatives undertaken in the area of cancer radiotherapy are also driving the market.

New product launches by major companies are also having a positive impact on market growth. For instance, in September 2020, Olympus Corporation launched ENDO-AID, an AI platform and endoscopy application with computer-aided detection for gastrointestinal applications. The AI platform with an endoscopy system-EVIS X1 enables real-time display. The growing adoption of such advanced systems is expected to drive the market. The increasing number of initiatives undertaken by public and private firms in the area of cancer radiotherapy is also estimated to have a positive impact on market growth.

Many academic institutions are also investing in cancer radiotherapy projects for increasing the effectiveness of treatment therapies. This is also likely to contribute to market expansion. The development of the Image-guided Therapy Program by the Brigham and Women’s Hospital aimed at advancing imaging and therapeutic technologies for developing minimally invasive surgical and interventional techniques is an example of one such initiative.

Report Highlights

The endoscopes segment accounted for the largest share of 32.2% in 2020. Increased adoption of robot-assisted endoscopic surgeries and the high cost of the systems are the key factors behind its largest revenue share. The high volume of endoscope-guided surgeries for various interventions has also contributed to its expansion. The growing incidences of cancer and gastrointestinal diseases have increased the demand for interventional endoscopic systems, thereby driving the segment.

This segment is also projected to expand at the fastest CAGR during the forecast period owing to technological advancements in endoscopy and subsequent product launches. In November 2017, Apollo Endosurgery received FDA approval for its endoscopic suturing system, OverStitch Sx, for soft tissue approximation and endoscopic placement of sutures.

(MRI) emerged as the second-largest product segment in 2020. MRI-guided therapy system holds promising growth opportunities. Technological advancements and the wide application range of these therapies in treatment planning, localization and delivery, and treatment response assessment are the key factors responsible for the segment growth. These systems have major applications in areas, such as radiation oncology, neurology, and trauma care. Thus, the rising burden of such diseases is expected to boost product demand further.

The hospital segment accounted for the largest revenue share of 41.1% in 2020. The increased number of various surgeries and high adoption of image-guided therapy systems in the hospitals are the primary factors driving the segment. Hospitals are adopting these systems owing to the increasing need for cost-effectively optimizing clinical workflows.

The (ASCs) segment is anticipated to exhibit the fastest CAGR over the forecast period. This growth is attributed to the advantages offered by these healthcare settings such as reduced waiting time and significant cost savings. High preference for minimally invasive surgeries and reduced hospital stays in the ASCs are also driving the segment. The growing trend of same-day surgery in developed economies due to significant cost savings and optimum care delivery also contributes to the segment growth.

Specialty clinics and research and academic institutions are other end-use segments. Increasing collaborations among research institutes and manufacturers, along with favorable initiatives for cancer treatment, are driving the research and academic institutions segment.

The cardiac surgery segment accounted for the largest share of 32.3% in 2020. Cardiovascular diseases (CVDs) are the leading cause of death globally. The rise in the geriatric population, coupled with the increasing burden of such diseases, is the major factor contributing to the segment growth. Various research initiatives undertaken for the development of real-time cardiac interventions are also positively impacting the segment growth.

The neurosurgery segment is likely to expand at the fastest CAGR of 6.7% over the forecast period. The growing incidences of accidents and trauma cases and the high prevalence of neurological disorders are the major factors driving this segment. Increasing collaborations among key companies for developing new image-guided therapy systems are also fueling the segment growth.

The urology segment accounted for the second-largest revenue share in 2020. Image-guided therapy systems for urological applications are primarily used for diagnosis, treatment planning, and treatment assessment. Increasing research for the development of innovative systems using 3D and 4D imaging, robot-assisted image-guided therapies, and molecular imaging is expected to drive the segment.

North America captured the largest share of 36.3% in 2020 and is expected to maintain its lead over the forecast period. Improved healthcare infrastructure, technological advancements, and quick adoption of advanced radiation therapies are the factors fueling the growth of this market. The growing geriatric population base, coupled with the rising cases of chronic diseases, is also contributing to the regional market growth. The U.S. emerged as the largest market in North America in 2020 and accounted for 86.0% share.

Favorable initiatives undertaken by private companies in the field of minimally invasive interventional and surgical techniques are expected to boost market expansion in the coming years.

Asia Pacific is projected to exhibit the fastest CAGR over the forecast period. The growing geriatric population, increasing cases of target diseases, and improving healthcare infrastructure are the factors responsible for its rapid growth. An increasing number of research centers in countries, such as India and China, are positively affecting the regional market growth.

Key Players

  • Koninklijke Philips N.V.

  • Medtronic

  • Siemens Healthineers

  • Analogic Corporation

  • GE Healthcare

  • Varian Medical Systems, Inc.

  • Brainlab AG

  • Olympus Corporation

  • Stryker          

Market Segmentation

  • Product Outlook 

    • Ultrasound Systems

    • Computed Tomography (CT) Scanners

    • Positron Emission Tomography (PET)

    • Endoscopes

    • Magnetic Resonance Imaging (MRI)

    • X-ray Fluoroscopy

    • Single Photon Emission Computed Tomography (SPECT)

  • Application Outlook 

    • Cardiac Surgery

    • Neurosurgery

    • Orthopedic Surgery

    • Urology

    • Oncology Surgery

    • Gastroenterology

    • Others

  • End-use Outlook 

    • Hospitals

    • Specialty Clinics

    • Ambulatory Surgical Centers

    • Research & Academic Institutions

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

      • Sweden

      • Netherlands

    • Asia Pacific

      • Japan

      • China

      • India

      • South Korea

      • Australia

      • Singapore

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

The Image-guided Therapy Systems market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Image-guided Therapy Systems market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Image-guided Therapy Systems market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Image-guided Therapy Systems market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Image-guided Therapy Systems market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Image-guided Therapy Systems capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Image-guided Therapy Systems by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Image-guided Therapy Systems market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Image-guided Therapy Systems market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Image-guided Therapy Systems market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Image-guided Therapy Systems industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Image-guided Therapy Systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Image-guided Therapy Systems market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Image-guided Therapy Systems market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Image-guided Therapy Systems market. These factors have benefited the growth of the global market for Image-guided Therapy Systems. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Image-guided Therapy Systems. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Image-guided Therapy Systems are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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