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Surgical Imaging Market - Global Leaders & Different Growth Strategies Adopted by Them

 



(Medical-NewsWire.com, November 13, 2020 ) The overall Surgical Imaging Procedures Market is expected to grow from USD 1.25 billion by 2017 to USD 1.63 billion in 2022, at a CAGR of 5.5% from 2017 to 2022. The key factors driving the growth of this market are growing popularity of Flat Panel Detector C-arms (FPD C-arms) owing to advantages of FPDs over image intensifiers, reimbursement cuts on analog radiography systems, and increasing demand for minimally invasive procedures.



The growing demand for data integrated imaging systems and high growth in emerging markets like Asia Pacific is an opportunity for the market to grow. The base year considered for the study is 2016, and the forecast has been provided for the period between 2017 and 2022.



In 2016, the surgical imaging market was dominated by a few large players and several small players. Players in this market compete with each other to deliver superior quality products that are technologically advanced and to provide well-regulated customer service functions. Major companies in this market are GE Healthcare (UK), Siemens AG (Germany), Koninklijke Philips (Netherlands), and Ziehm Imaging (Germany).



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Agreements, collaborations, alliances, and partnerships were the key strategies adopted by players from 2014–2017. The players that adopted these strategies are Koninklijke Philips, Ziehm Imaging, GE Healthcare, Siemens, OrthoScan, Toshiba Medical Systems, and Medtronic. Koninklijke Philips accounted for a share of 38% of the total number of agreements, collaborations, alliances, and partnerships in the surgical imaging market. This high share of the company can be attributed to its increasing number of partnerships and collaborations with hospitals which are the primary end users of C-arms.



GE Healthcare held the first position in the global Surgical Imaging Procedures Market in 2016. Its leading position in the market is attributed to the highest number of installed systems and its wide and diverse platform of mobile C-arms. The company’s product portfolio of mobile C-arm includes OEC 9900 Elite, its flagship product. The OEC 9900 Elite provides improved image quality and optimal dose management which improves patient care. The product portfolio also includes OEC Brivio 865 Advance which was developed as an affordable option for orthopedic surgical imaging. The strong, wide, and diversified portfolio of mobile C-arms is an asset to the company.



Siemens acquired the second largest share of the global surgical imaging market in 2016. The company offers a comprehensive range of mobile C-arms. To maintain its leading position and increase its customer base in the surgical imaging market, the company mainly focuses on strategic partnerships with hospitals and other healthcare organizations. From 2014 to 2017, the company has partnered with many hospitals in the US, the UK, India, and Chile to offer its services and imaging systems.



Some of the other players competing in Surgical Imaging Market are Hologic (US), Shimadzu Corporation (Japan), OrthoScan (US), Medtronic (US), Toshiba Medical Systems Corporation (Japan), GENORAY (South Korea), Eurocolumbus (Italy), Allengers Medical Systems (India), and MS Westfalia (Russia).



North America to dominate the market in 2017



North America is expected to account for the largest share of the surgical imaging market in 2017, followed by Europe, Asia Pacific (APAC), and the Rest of the World. The large share of this region can be attributed to a rising number of overuse sports injuries, and rising prevalence of CVD, along with the increasing number of cardiac arrest cases, and increase in the number of minimally invasive procedures performed in Canada. However, Asia Pacific is expected to register the highest CAGR of 7.1% during the forecast period, owing to the rapid growth in geriatric population in Japan, healthcare reforms in China, improving healthcare infrastructure in India, and rising number of orthopedic and CVD procedures in Australia.



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