Fluorescence Guided Surgery Systems Market To Be Valued at US$ 199.0 Mn By 2028

Fluorescence guided surgery (FGS) is a medical imaging technique used to generate real-time fluorescence image of the surgical region and guide a surgery. FGS is a promising technology that could potentially improve patients' outcomes and change the future of reconstructive and oncological procedures. As compared to traditional medical imaging techniques, fluorescence guided surgery is very low-cost and easy to operate, and system can provide real-time imaging during a surgery. Thus, FGS has been currently used for multiple surgical situations.

Market Statistics:

The global fluorescence guided surgery systems market is estimated to account for US$ 79.0 Mn in terms of value by the end of 2022.

Drivers:

Rise in demand for fluorescence guided surgery systems across the globe is expected to propel the growth of the global fluorescence guided surgery systems market during the forecast period. For instance, FGS is an imaging technique that helps surgeon to visualise different structures and types of tissue during a surgery that may not be as visible under white light conditions. In December 2019, UC San Diego launched centre for fluorescence-guided surgery. The centre will deliver a new caliber of surgical accuracy, allowing doctors to treat patients with tumors and complex diseases of all types with GPS-like precision.

Opportunities:

Rice in burden of cancer around the world is expected to offer significant growth opportunities for players in the fluorescence guided surgery systems market. For instance, FGS is a lifesaving imaging tool that lights up tumors and cancer cells or nerves and other anatomical features for easier identification and precise removal or preservation during surgeries. The prevalence of cancer rises dramatically with the age, most likely due to a build-up of risks for specific cancers that increase with the age. According to the World Health Organization (WHO), cancer was a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020.

To know the latest trends and insights prevalent in The Global Fluorescence Guided Surgery Systems Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/fluorescence-guided-surgery-systems-market-5286

Restraints:

Stringent regulatory framework, side effects associated with fluoroscopy, and dearth of skilled professionals are major factors expected to hamper growth of the global fluorescence guided surgery systems market. For instance, as in many areas of medicine, there are risks associated with the use of fluoroscopy, which uses ionizing radiation to generate images of the body. Risks from exposure to radiation may include radiation-induced injuries to the skin and underlying tissues (burns), which occur shortly after the exposure, and radiation-induced cancers, which may occur sometime later in life.

Global Fluorescence Guided Surgery Systems Market - Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 outbreak has had a severe impact on the fluorescence guided surgery systems market due to the reduction in many fluorescence-guided surgeries during the pandemic due to limited resources and vulnerability of cancer patients to COVID-19. Moreover, some people with cancer are at increased risk of serious illness if they get COVID-19, because their immune systems have been weakened by the cancer and its treatments. However, fluorescence guided surgery has recently been introduced into cancer surgery and could potentially change future of oncological procedures. This in turn is expected to drive market growth.

Key Takeaways:

The global fluorescence guided surgery systems market was valued at US$ 67.8 Mn in 2021 and is forecast to reach a value of US $ 199.0  Mn by 2028 at a CAGR of 16.6% between 2022 and 2028.

Among Type, SPY system segment held dominant position in the global fluorescence guided surgery systems market in 2022, accounting for 43.2% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Market Trends:

Further advances and developments in FGS systems are expected to eventually replace older methods of detecting structures and types of tissues during surgical procedures. Moreover, as compared to conventional medical imaging techniques such as CT and MRI, FGS can provide real-time imaging during surgery, and is much cheaper and much easier to operate. As a result, the use of fluorescence guided surgery (FGS) systems has increased worldwide, and this trend is expected to continue during the forecast period, driving the growth of the market.

Competitive Landscape:

Major players operating in the global fluorescence guided surgery systems market include

Irillic Pvt. Ltd., Karl Storz, PerkinElmer, Curadel LLC, Gentige (Fluoptics), OnLume Inc., Medtronic PLC, Hamamatsu Photonics KK, Stryker Corporation, Shimadzu Corporation, and Olympus Corporation (Quest Medical Imaging), among others.

Recent Developments:

In September 2021, Olympus strengthened its surgical portfolio with the launch of POWER SEAL advanced bipolar surgical energy devices. The power seal devices positioned Olympus competitively within the growing global market for advanced bipolar surgical energy devices.

In November 2020, Stryker acquired Wright Medical Group NV. This acquisition enhanced Stryker’s global market position in trauma and extremities, providing significant opportunities to advance innovation and reach more patients.