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Image-guided Therapy Systems Market 2021 Industry Growth, Dynamic Research Analysis, Trend and Forecast To 2028

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Swapnil GVR
Image-guided Therapy Systems Market 2021 Industry Growth, Dynamic Research Analysis, Trend and Forecast To 2028

The global image-guided therapy systems market size was valued at USD 2.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2021 to 2028. The rise in the geriatric population and shifting preference for minimally invasive surgeries, along with technological advancements in imaging systems, are the key factors driving the market.

According to the United Nations-World Population Prospects, 2019, about 16% of the global population or one in six people will be aged above 65 by 2050, up from 9% in 2019. According to the WHO, the global cause of death is shifting from infections to chronic conditions, including high cholesterol, hypertension, cancer, and cognitive heart diseases. Thus, the demand for image-guided therapy systems for treating these conditions is expected to rise in the coming years.

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Key Player Mentioned:

  • Koninklijke Philips N.V.
  • Medtronic
  • Siemens Healthineers
  • Analogic Corporation
  • GE Healthcare
  • Varian Medical Systems, Inc.

According to the Institute of Cancer Research, more than 120,000 people in the U.K. are treated with radiotherapy annually. Image-guided therapy systems have significantly improved, resulting in more precise and safer interventions. An example of such advancements is the launch of a new therapy suite, Nexaris, by Siemens Healthineers. In November 2017, the company launched this system to integrate multimodal imaging in interventional radiology and surgery.

 

Product Segment Analysis:

 

  • Ultrasound Systems
  • Computed Tomography (CT) Scanners
  • Positron Emission Tomography (PET)
  • Endoscopes
  • Magnetic Resonance Imaging (MRI)

Application Segment Analysis:

  • Cardiac Surgery
  • Neurosurgery
  • Orthopedic Surgery
  • Urology
  • Oncology Surgery

Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa.

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.

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The ambulatory surgery centers (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.

KEY aspects covered in the report include:

  • The market size and industry growth rate of the global and regional market across various segments
  • The region or the sub-segment that is expected to drive the Image-guided Therapy Systems market in the forecast period 2021-2028
  • Key companies operating in the global Image-guided Therapy Systems market and their market share
  • The Factors that are estimated to drive the Image-guided Therapy Systems Market growth
  • Key opportunities in the Image-guided Therapy Systems market
  • Key technological advancements and market trends that shape the market

The study objectives of this report are:

 

  • To research global status, future forecasts, growth opportunities, key markets and key players.

 

  • To present the market development in us, Europe and China.

 

  • To strategically profile the key players and comprehensively analyze their development plan and methods.

 

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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