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(Medical-NewsWire.com, January 29, 2020 ) The global Intraoperative Imaging market is projected to reach USD 2.06 Billion by 2021 from USD 1.61 Billion in 2016, at a CAGR of 5.2% during the forecast period of 2016 to 2021.
The growth of this market can be attributed to factors such as the growth in the aging population, rising burden of chronic diseases with changing lifestyles, increasing preference and demand for minimally invasive surgeries (MIS), and expanding applications of neurosurgery and orthopedic surgery. However, the high cost of intraoperative imaging equipment is likely to create a negative impact on the growth of this market.
Major players in the intraoperative imaging market are Medtronic (Ireland), General Electric Company (U.S.), Siemens AG (Germany), Brainlab AG (Germany), Koninklijke Philips NV (Netherlands), IMRIS Deerfield Imaging (U.S.), NeuroLogica Corporation (U.S.), Ziehm Imaging GmbH (Germany), Toshiba Corporation (Japan), and Shimadzu Corporation (Japan).
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The global market is dominated by Medtronic (Ireland), General Electric Company (U.S.), Siemens AG (Germany), Koninklijke Philips NV (Netherlands), and Ziehm Imaging GmbH (Germany) owing to their global presence and broad product portfolio in the global intraoperative imaging market.
GE Healthcare, a subsidiary of General Electric Company (U.S.) is the leading player in the intraoperative imaging market. The company’s position is attributed to its strong brand image, robust product portfolio, and wide geographic presence. The company has a strong focus on innovation and quality. In 2015, the company filled ~3100 new patents in 10 research centers. In November 2015, GE Healthcare signed a memorandum of understanding (MOU) with the Oregon Health & Science University (U.S.) to develop research programs.
Besides research and development, the company also focuses on launching products. For instance, in November 2012, the company launched its OEC Brivo 865 Advance. The introduction of this product expanded the company’s portfolio of C-arms. It also focuses on training users for GE mobile C-arms by providing courses and conducting training programs. These programs provide the necessary skills and knowledge to medical facility employees to maintain the mobile C-arms in good working condition. Each year, over 4,000 physicians are trained by the company.
Siemens AG (Germany) has a robust geographic presence in more than 200 countries across the Americas, Asia, Australia, Europe, C.I.S., Africa, and the Middle East. To sustain its position in the intraoperative imaging market, the company focuses on adopting organic growth strategies. In line with this, the company received regulatory approvals and launched a number of products. For instance, in March 2016, Cios Fusion, Cios Connect, and Cios Select received FDA approval, and in April 2014, the company received FDA approval for Cios Alpha.
This vital development is expected to increase sales in the U.S., a key market for mobile C-arms. In October 2013, Siemens AG entered into an agreement with IMRIS Deerfield Imaging (U.S.); this enabled the company to innovative computed tomography (CT) products as the core of its IMRIS VISIUS iCT solution. In addition, as of September 2015, the company has 56,200 granted patents across the globe, which helps it to gain a competitive edge over other players in the market.
Philips Healthcare, a business segment of Koninklijke Philips NV (Netherlands) held the third position in the intraoperative imaging market. In 1955, a team of engineers from Philips Medical Systems developed the first mobile C-arm. The company has close to six decades of experience in the mobile C-arm segment. Its broad portfolio of intraoperative imaging (including intraoperative iMRI and C-Arms), strong brand image, significant financial strength for R&D activities, broad customer base, and wide geographic reach are the key factors accounting for its large share of this market.
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In order to expand its presence in the intraoperative imaging market, the company focuses on adopting inorganic growth strategies such as partnerships and collaborations. In line with this strategy, in April 2012, Philips collaborated with Brainlab AG (Germany) to create a comprehensive intra-operative solution with the goal of streamlining neurosurgery procedures.
Agreements, Partnerships, and Collaborations are the Strategies Adopted by Key Players to Strengthen Their Position in the Intraoperative Imaging Market.
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