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Fluorescence Guided Surgery Systems Market Is Expected To Reach US$ 199.0 Mn With Growing CAGR of 16.6% By 2028 | PerkinElmer, Curadel LLC, Gentige (Fluoptics), OnLume Inc.

November 18th, 2022 Coherent Market Insights Releases

Fluorescence Guided Surgery Systems Market

The market for fluorescence guided surgery systems was valued at US$ 67.8 Mn in 2021 and is anticipated to grow at a CAGR of 16.6% between 2022 and 2028 to reach US$ 199.0 Mn. Due to rising chronic disease rates worldwide and increased use of cutting-edge imaging techniques, the market for fluorescence guided surgery systems is expanding rapidly. Additionally, more surgical methods to treat the target disorders are anticipated to fuel market expansion. However, issues including strict regulatory approval, fluoroscopy-related side effects, and a shortage of qualified experts are anticipated to impede the growth of the global market for fluorescence guided surgery systems.

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Regional Insights

The market for fluorescence guided surgery systems worldwide is divided into five regions based on geography: North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

Due to the rising incidence of cardiovascular and cancer disorders in this region, North America is anticipated to gain the largest market share among all other regions over the course of the projection period. For instance, fluorescence guided surgery has recently been used in cancer surgery and has the potential to alter how oncological procedures are performed in the future. The American Cancer Society (ACS) projects that there will be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the United States in 2022. As a result, the market for fluorescence guided surgery systems is anticipated to expand globally.

Due to the rising incidence of cancer and rise in surgical operations in this area, Asia Pacific is also anticipated to experience rapid growth in the worldwide fluorescence guided surgery systems market. For instance, according to information based on current trends from the cancer report by the Indian Council of Medical Research, India’s cancer cases could rise by 12% in the following five years, with 1.5 million people projected to suffer from the non-communicable disease by 2025, up from 1.39 million in 2020. (ICMR).

Market Drivers

Over the course of the projection period, it is anticipated that the global market for fluorescence guided surgery systems would increase in response to the rising prevalence of chronic diseases, such as cancer and heart diseases, around the world. The position and margins of the tumour can be determined throughout the process using fluorescence guided surgery (FGS). The World Health Organization (WHO) estimates that cancer will be the primary cause of death for over 10 million people worldwide in 2020, or one in every six fatalities. Breast, lung, prostate, colon, and rectum cancers are the most prevalent types of cancer. This is thus anticipated to fuel market expansion.

Over the projected period, an increase in the use of cutting-edge imaging techniques is anticipated to boost market expansion for fluorescence guided surgery systems. For instance, FGS is an imaging technology that enables surgeons to see various structures and types of tissue that might not be as evident under white light settings during a surgical procedure. In collaboration with the team at Mount Sinai Hospital, Delray Medical Center published a ground-breaking study in October 2021 that focused on 5ALA (fluorescent guided surgery) for glioblastomas.

Market Opportunities

Fluorescence guided surgery system market participants should benefit from lucrative growth prospects due to the predicted increase in demand for these systems. For cancer and reconstructive surgery, FGS surgery has produced very excellent outcomes. Future oncological and reconstructive surgeries may be altered by FGS. As a result, the market for fluorescence guided surgery systems is expanding due to an increase in demand for these systems globally.

Players in the worldwide fluorescence guided surgery systems market should benefit from significant growth prospects due to an increase in research and development investments. For instance, the National Cancer Institute (NCI) awarded OnLume Inc. (a medical imaging business) a US$ 2 million grant in April 2021 to promote the development of its patented FGS equipment. The FGS method from OnLume aids in increasing precision, which can result in improved patient outcomes, cheaper expenses, and lower morbidity.

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Market Trends

FGS is an imaging technique that enables surgeons to see various structures and types of tissues that might not be apparent in white light during a surgical procedure. It is anticipated that eventually more sophisticated fluorescence guided surgery systems would take the place of more conventional techniques for identifying different tissue types and structures during surgical procedures. This will fuel market expansion, which is anticipated to continue over the course of the projection period.

FGS can provide real-time imaging during surgery and is far less expensive and simpler to use than traditional medical imaging methods like Magnetic Resonance Imaging (MRI) and Computed Tomography (CT). As a result, the use of fluorescence guided surgery (FGS) systems has grown globally, and this trend is anticipated to persist over the course of the forecast period, propelling the market’s expansion.

Market Restraints

The market for fluorescence guided surgery devices is predicted to expand slowly due to fluoroscopy-related side effects. For instance, due to radiation exposure, fluoroscopy carries the same dangers as other X-ray techniques. Ionizing radiation exposure carries some risks, such as the possibility of burns, which are radiation-induced wounds that develop soon after exposure. malignancies brought on by radiation, which could develop later in life.

The expansion of the global market for fluorescence guided surgery systems is anticipated to be constrained by a lack of qualified personnel (to handle and operate fluorescence imaging equipment). For instance, the demand for qualified experts has surged as a result of rapid technical advancements or changes in the healthcare industry. Furthermore, while performing the procedure, good implementation and comprehension of cutting-edge fluorescence imaging technologies are essential. As a result, handling and operating a fluorescence imaging device requires expertise.

Market Segmentation

The Type, Surgery, Application, and Geography categories are used to segment the fluorescence guided surgery systems market research.

The market is divided into the SPY System, PDE System, VS3 Iridium System, and Other Types based on Type. Due to the rise in the occurrence of cardiovascular disorders like coronary artery disease, the SPY System Segment is anticipated to dominate the fluorescence guided surgical systems market throughout the course of the forecast year. In order to verify the position of the graft and the location of target vessels during coronary artery bypass grafting, the SPY imaging system was created.

Due to the increase in demand for fluorescence imaging systems, the PDE System Segment is anticipated to have considerable growth in the near future as well. The primary benefit of PDE is its portability and small size, which allow surgeons to simply handle the camera unit while obtaining fluorescence images from various angles throughout a surgery.

The market is divided into Open Surgery and Laparoscopy/Endoscopy categories based on the kind of surgery. Due to the rise in surgical operations for target illnesses, the open surgery segment is predicted to have the largest market share during the projection period. FGS is an imaging method that enables the surgeon to see various tissue types and structures during surgery that might not be as evident.

The global market for fluorescence guided surgery systems is divided into three application categories: cancer surgery, cardiovascular surgery, and other applications. Among which, the Cancer Surgeries Segment is anticipated to lead the market during the forecast period, and this is because cancer is becoming more common in the world.

The segment for cardiovascular surgeries is anticipated to experience considerable growth in the near term due to the rise in the prevalence of cardiovascular diseases (CVDs) worldwide.

Key Developments

The acquisition of Affera Inc. by Medtronic was finished in August 2022. With the addition of its first-ever cardiac mapping and navigation platform, which combines a focal pulsed field and radiofrequency ablation solution, this acquisition broadened the company’s offering for cardiac ablation.

A method that improves the spatial resolution of two-photon excitation fluorescence microscopy was developed by Hamamatsu Photonics in November 2020. It is perfect for making highly accurate observations of deep biological sample regions. This technology will be a crucial tool for comprehending how the brain works.

Key Companies Insights

The market for fluorescence guided surgery devices is extremely crowded. The market players are concentrating on introducing novel products because of the increase in demand for fluorescence guided surgery systems.

Olympus Corporation, Irillic Pvt. Ltd., Shimadzu Corporation, Karl Storz, Stryker Corporation, PerkinElmer, Hamamatsu Photonics KK, Curadel LLC, Medtronic PLC, Gentige (Fluoptics), and OnLume Inc., are a few of the major players in the world market for fluorescence guided surgery systems.

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Table of Contents:

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
      • Market Snippet, By Surgery
      • Market Snippet, By Application
      • Market Snippet, By Geography
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Increasing prevalence cancer and heart disease
      • Side effects associated with fluoroscopy
      • Rise in demand for fluorescence guided surgery systems
    • Impact Analysis
    • Key Highlights
    • Regulatory Scenario
    • Product launch/Approvals
    • PEST Analysis
    • PORTER’s Analysis
    • Merger and Acquisition Scenario
  4. Global Fluorescence Guided Surgery Systems Market – Impact of Coronavirus (COVID-19) Pandemic
    • COVID-19 Epidemiology
    • Supply Side and Demand Side Analysis
    • Economic Impact
  5. Global Fluorescence Guided Surgery Systems Market, By Type, 2017-2030, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2022 and 2030 (%)
      • Y-o-Y Growth Analysis, 2017 – 2030
      • Segment Trends
    • SPY System
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
    • PDE System
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
    • VS3 Iridium System
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
    • Other Types
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
  6. Global Fluorescence Guided Surgery Systems Market, By Surgery, 2017-2030, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2022 and 2030 (%)
      • Y-o-Y Growth Analysis, 2017 – 2030
      • Segment Trends
    • Open Surgery
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
    • Laparoscopy/Endoscopy
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
  7. Global Fluorescence Guided Surgery Systems Market, By Application, 2017-2030, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2022 and 2030 (%)
      • Y-o-Y Growth Analysis, 2017 – 2030
      • Segment Trends
    • Cancer Surgeries
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
    • Cardiovascular Surgeries
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
    • Other Applications
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)

View Press Release: https://www.coherentmarketinsights.com/press-release/fluorescence-guided-surgery-systems-market-4582

About US:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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