In a recently published report, Image-guided Therapy Systems Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Image-guided Therapy Systems Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Image-guided Therapy Systems Market is valued approximately USD 2.1billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.0 % over the forecast period 2020-2027. Image guided therapy system help surgeons by navigating the devices inside the body of patients and display a 3D image of the targeted area. Image-guided Therapy Systems provide information constantly, enables surgeons to plan for surgery, make adjustments in very less time, making the surgery safer and less invasive. This helps to treat various therapeutic areas, such as pain, trauma, urology, cardiac, vascular, endovascular, spine, orthopedics, and neurology, also used in the treatment of hypertension through renal denervation. The rising technological advancements, increase in geriatric population as well as increase prevalence of chronic diseases are the few factors responsible for growth of the market over the forecast period.
For instance: according to American Hospital Association, the number of Americans with chronic medical condistions was 149 million in 2015 and is anticipated to rise to 164 millions of Americans suffering from chronic medical conditions in 2025. Similarly, according to the Forum of International Respiratory Societies (FIRS), around 384 million people suffer from chronic obstructive pulmonary disease (COPD) and 3 million die from it each year, thus making it the third leading cause of death worldwide. Whereas, high price of image-guided therapy systems is the major factor restraining the growth of global Image-guided Therapy Systems market during the forecast period.
The regional analysis of global Image-guided Therapy Systems market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world owing to the improved healthcare infrastructure, technological advancements, and quick adoption of advanced radiation therapies in this region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Koninklijke Philips N.V.
Varian Medical Systems, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Computed Tomography (CT) Scanners
Positron Emission Tomography (PET)
Magnetic Resonance Imaging (MRI)
Single Photon Emission Computed Tomography (SPECT)
Ambulatory Surgical Centers
Research & Academic Institutions
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Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Image-guided Therapy Systems Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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