Market Trends of Surgical Imaging Industry
This section covers the major market trends shaping the Surgical Imaging Market according to our research experts:
Mobile C-Arm Segment is Believed to Witness Rapid Growth Over the Forecast Period in the Surgical Imaging Market
A mobile C-arm is a medical imaging device that uses X-ray technology and can be utilized in a variety of operation rooms across a clinic. The term is derived from the C-shaped arm that connects the X-ray source and X-ray detector. One of the major advantages of C-arms is the ability to move around the patient for achieving the optimum angle for a high-quality image while keeping the patient comfortable. These factors are ideal for smaller hospitals with significant cost constraints.
Factors such as the rise in the prevalence of chronic diseases, and growing demand for minimally invasive procedures are likely to boost the market growth. For instance, as per the 2022 update from Brast Cancer.org, about 13% (about 1 in 8) of U.S. women are likely to develop invasive breast cancer in 2022. As per the same source, in 2022, an estimated 287,850 new cases of invasive breast cancer are expected to be diagnosed in women in the U.S., along with 51,400 new cases of non-invasive (in situ) breast cancer. Hence, as the number of chronic cases increases, the demand for mobile C-arm rises and thereby boosting the market growth over the forecast period.
Moreover, the presence of key players, mergers, acquisitions, and product launches in the mobile C-arm field is likely to boost the market growth over the forecast period. For instance, in January 2022, Philips integrated cloud-based artificial intelligence and 3D mapping into its Mobile C-arm System Series, Zenition, to enhance workflow efficiency and improve endovascular treatment outcomes. Furthermore, in June 2021, Turner Imaging Systems received its CE Mark for its Smart-C Mini C-Arm portable fluoroscopy X-ray imaging device. This was anticipated to allow the Smart-C, a highly portable mini C-arm, to be distributed throughout the EU countries as well as the UK.
As a result, due to the rise in the prevalence of chronic diseases, and the growing demand for minimally invasive procedures, the mobile c-arm segment is expected to register significant growth during the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to witness growth in the surgical imaging market owing to the factors such as the rising prevalence of chronic diseases and genetic disorders as well as the presence of healthcare infrastructure and reimbursement availability. For instance, as per the American Cancer Society 2022 update, the number of new cancer cases diagnosed in the United States is likely to be 1,918,030 in 2022. As per the same source, 268,490 cases of prostate cancer are likely to be diagnosed in the United States in 2022. Hence, due to the high prevalence of chronic disease, there is likely to be a rise in demand for surgical imaging, which is anticipated to boost market growth over the forecast period.
Moreover, the demand for minimally invasive procedures is on the rise, which is anticipated to boost the market growth in the studied region over the forecast period. For instance, in May 2022, TRiCares implemented of minimally invasive Topaz Tricuspid Heart Valve replacement system in Canada. Furthermore, in May 2021, KA Imaging announced a distribution agreement with Bio Scan S.A. de C.V. in Mexico. Bio Scan, as the sole distributor in Mexico, the company was likely to be responsible for sales and support in full collaboration with KA Imaging territory-wide.
Additionally, the presence of competitors, product launches, and approvals associated with the surgical imaging field is likely to drive market growth over the forecast period. For instance, in December 2021, Hyperfine, Inc., creator of the FDA-cleared portable magnetic resonance imaging MRI device, Swoop received Health Canada licensing of Swoop as well as the commercial launch of the imaging system in Canada. Furthermore, in February 2021, South Shore Regional Hospital Redevelopment Project was launched under which the government has funded a new Magnetic Resonance Imaging (MRI) scanner for the South Shore Regional Hospital.
Thus, due to the high prevalence of chronic diseases and the rise in demand for surgical imaging, the studied market is likely to witness growth in the North America region over the forecast period.
