Major Objectives of This Study:

# To define, describe, and forecast the intraoperative imaging market by product, application, end user, and region.

# To provide detailed information about the major factors influencing the market growth (such as key drivers, restraints, opportunities, and industry-specific challenges).

# To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contributions to the overall intraoperative imaging market.

# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.

# To forecast the revenue of market segments with respect to five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.

# To profile the key players active in the intraoperative imaging market and comprehensively analyze their global revenue shares and core competencies.

# To track and analyze competitive market-specific developments such as product launches, collaborations, agreements, partnerships, expansions, and mergers & acquisitions in the intraoperative imaging market.

Major Growth Driving Factors:

The global intraoperative imaging market offers significant growth potential for prominent as well as emerging product manufacturers. Technological advancements, rising incidence of surgeries and increased funding and public-private investments are some of the key factors driving the growth of the intraoperative imaging market.

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Expected Revenue Growth, Globally:

The global intraoperative imaging market size is projected to reach USD 2.5 billion by 2025 from USD 1.9 billion in 2020, at a CAGR of 5.2% during the forecast period.

Market Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the total size of the intraoperative imaging market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

# The key players in the industry and markets have been identified through extensive secondary research
# The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources

Restraint: High Cost of Intraoperative Imaging Systems

Intraoperative imaging systems are priced at a premium and require high investments for installations, increasing the procedural cost for patients. This affects the adoption rate of new systems, especially in emerging countries; most healthcare facilities in these countries, consequently, cannot afford such systems.

Healthcare facilities that purchase such costly systems often depend on third-party payers (such as Medicare, Medicaid, or private health insurance plans) to reimburse costs incurred in screening and therapeutic procedures performed using these systems. As a result, factors such as continuous cuts in reimbursements for intraoperative imaging scans and the increasing cost of intraoperative imaging systems prevent medium-sized and small healthcare facilities from investing in advanced intraoperative imaging modalities.

Challenge: Hospital Budget Cuts

In response to increasing government pressure to reduce healthcare costs, several healthcare providers have aligned themselves with group purchasing organizations (GPOs), integrated health networks (IHNs), and integrated delivery networks (IDNs). These organizations aggregate their members’ purchases and bargain for a competitive price with the suppliers and manufacturers of medical devices. GPOs, IHNs, and IDNs negotiate heavily for the bulk purchases of intraoperative imaging devices.

The rising cost of prescription drugs and a sharp decline in the proposed budget allocations for Health and Human Services in the US, as of 2019, have significantly reduced hospital budgets. A study by the American Hospital Association estimated that federal payment cuts to hospitals would amount to USD 218 billion by 2028, forcing hospitals to allocate smaller budgets annually.

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Opportunity: High Growth Opportunities in Emerging Countries

Developing economies such as India, China, Brazil, South Korea, Turkey, Russia, and South Africa offer high growth opportunities for the major players in the intraoperative imaging market. Although the cost factor is a concern in these developing countries, their huge population base—especially in India and China—indicates a sustainable market for intraoperative imaging devices.

The higher incidence of chronic diseases such as cancer, stroke, and neUrological Surgery and cardiovascular diseases, as well as the higher death rates in these countries, showcase the need for early detection. For instance, GLOBOCAN 2018 data estimated that roughly over 50% of the global cancer population lived in developing regions. In addition, regulatory policies are more adaptive and business-friendly in the Asia Pacific than in western countries. Increasing competition in mature markets is expected to compel intraoperative imaging system manufacturers to focus on emerging markets.