New York, Nov. 26, 2020 (GLOBE NEWSWIRE) -- The number of robotic surgeries skyrocketed in the last decade. With the success rate ranging between 90-100%, a significant increase in the minimally invasive surgeries (MIS) demonstrating improved outcomes has been witnessed. However, with COVID-19 outbreak in 2020, stringent regulations have been applied while performing MIS or robotic surgeries due to risks associated with virus transmission through aerosolization.
Research Nester published a detailed report on Global Minimally Invasive & Non-Invasive Medical Imaging and Visualization Systems Market comprising well-defined analytical insights that are adopted by key market players to stay ahead of their competitors. Our research analysts provide our readers a clear assessment on ongoing and forthcoming trends combined with the challenges associated with the growth of the market during 2018-2027.
Over the past few years, the exponential growth in technological advancements has transformed the entire facet of healthcare industry. The utilization of virtual reality (VR) and augmented reality (AR) has greatly honed the outcome of surgical procedures. Be it therapies, medical research and training or diagnosis among other aspects of digital transformation in medical science, the enhanced reality systems not only provide improved visualization but also improve quality and safety of diagnosis in various surgical disciplines. Moreover, robot-assisted surgeries provide several advantages over the traditional surgeries as these procedures allow the surgeon to continuously observe the operative field in 3-D as compared to the conventional 2-D view. Additionally, certain other benefits associated with this surgery include lower blood loss, less pain post operation, less wound infections and damage to the skin and tissues, and shorter recovery period. On the back of these notable attributes, the global minimally invasive & non-invasive medical imaging and visualization systems market is estimated to witness significant growth in upcoming years. In 2018, the market garnered USD 57.08 Billion and is estimated to touch USD 88.88 Billion by 2027 by growing at a CAGR of 5.20%, during the forecast period, i.e., 2020-2027.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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Based on application, the global minimally invasive & non-invasive medical imaging and visualization systems market is segmented into neurology, cardiology, gastrointestinal, orthopaedic, gynaecological, urological, dental and others. The gastrointestinal segment is estimated to be the highest revenue generating segment throughout the forecast period and is estimated to bring in revenue of around USD 24 Billion by 2027. Digestive disorders significantly affect millions of people globally, which in turn, creates a huge demand for efficient endoscopic procedures around the globe. In 2019, the United States showcased highest prevalence rate of gastrointestinal conditions, closely followed by Europe. The gastrointestinal segment in North America is estimated to touch revenue of about USD 6 Billion in 2020.
The second leading stance is projected to be held by orthopaedic segment, closely trailed by urological and gynaecological segment. According to MedTech Europe, orthopaedic disorders are the second leading cause of physical disabilities globally. Approximately 20% to 33% of individuals around the world, are living with musculoskeletal conditions. Increasing occurrence of neurological-, orthopaedic-, tooth-, and gastrointestinal health problems among various chronic disorders is anticipated to create an upsurge in demand for minimally invasive and non-invasive medical imaging and visualization, further creating numerous opportunities for the major players operating in the market.
However, there are some infection related complications associated with robot-assisted surgeries. Moreover, lack of skilled technicians and limitations pertaining to approval after clinical trials from government and other regulatory bodies is estimated to negatively impact the growth of the market over the forecast period.
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Geographically, the global minimally invasive & non-invasive medical imaging and visualization systems market is segmented by regions into North America, Asia Pacific, Europe, Middle East & Africa and Latin America, out of which, the market in North America accounted for highest market share in 2019 and estimated to hold leading stance throughout the forecast period. This growth can be attributed to ever evolving healthcare sector and increased healthcare spending in this region. According to the World Bank, the health expenditure (% of GDP) in North America was 16.55% in 2017, where health expenditure per capita was USD 9691.09 in the same year. The Europe minimally invasive & non-invasive medical imaging and visualization systems market is anticipated to hold second largest market share by growing at a CAGR of around 5 % over the forecast period.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
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The global minimally invasive & non-invasive medical imaging and visualization systems market is also segmented into medical imaging & visualization systems, and end-user.
Global Minimally Invasive & Non-Invasive Medical Imaging and Visualization Systems Market, Segmentation by Medical Imaging & Visualization Systems
- Endoscopes & Visualization Systems
- Imaging Systems
- Ultrasound
- CT Imaging
- X-Ray Imaging
- MRI Imaging
- Nuclear Imaging
- Others
Global Minimally Invasive & Non-Invasive Medical Imaging and Visualization Systems Market, Segmentation by End-User
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Academic and Research Institutions
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The companies are actively engaged in innovation and advancement of their minimally invasive imaging systems to grab major shares in the market. Advancements in 3D and 4D imaging systems to diagnose diseases quickly and develop treatment plans continues to expand clinical applications. Some of the prominent industry leaders mentioned in our report that are associated with the global minimally invasive & non-invasive medical imaging and visualization systems market are Smith & Nephew, Boston Scientific Corporation, Medtronic, Siemens Healthineers AG, CONMED Corporation, GE Healthcare, Stryker, Johnson & Johnson, B. Braun, Koninklijke Philips N.V., Olympus Corporation, KARL STORZ, and FUJIFILM.
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