The fluorescence-guided surgery (FGS) system market is expected to have significant growth in North America owing to the high burden of chronic diseases like cancer and cardiovascular disease and the high awareness and demand for advanced surgical procedures in the country over the forecast period 2024 to 2034.
NEWARK, Del, July 09, 2024 (GLOBE NEWSWIRE) — According to Future Market Insights (FMI), the global fluorescence-guided surgery system market is projected to reach USD 110.8 million in 2024 and USD 468 million by 2034. The market is anticipated to rise at a CAGR of 15.5% from 2024 to 2034.
Increasing surgeries for cancer and cardiovascular diseases are projected to boost the usage of fluorescence-guided surgery systems. The industry is undergoing a rapid digital transformation, leveraging technologies like AI, IoT, and blockchain for enhanced efficiency and personalized customer experiences.
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Consumers are prioritizing health and wellness, leading to the rise of functional and nutritious products in the fluorescence-guided surgery system market. Key companies are exploring opportunities in emerging markets, escalating their expertise and resources to expand their presence and tap into new customer segments.
Fluctuations in raw material prices are set to affect profit margins and operational costs, exposing companies in the market to financial risks. Furthermore, changes in consumer preferences are projected to lead to decreased demand for products or services, affecting the market’s relevance.
Key Takeaways from the Fluorescence Guided Surgery System Market Report:
- The fluorescence-guided surgery system market is expected to reach a valuation of USD 468 million by 2034.
- The market is projected to surge at a CAGR of 15.5% by 2034.
- China’s fluorescence-guided surgery system market is expected to grow at a CAGR of 16.3% by 2034.
- The United States is projected to reach a valuation of USD 84.5 million in 2034.
- Based on type, the SPY system segment held a market share of 34% in 2023.
“Technological advancements and changing consumer preferences are set to fuel expansion in the fluorescence-guided surgery system industry. Leading companies are also projected to benefit from rising demand, favorable regulatory environments, and a growing focus on sustainability.” – opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
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Competitive Landscape:
Leading manufacturers employ strategies such as mergers, acquisitions, partnerships, distribution agreements, collaborations, advertisements, and celebrity endorsements. This helps key companies enhance brand visibility, establish credibility, and gain a competitive advantage in the dynamic landscape.
Leading Fluorescence Guided Surgery System Brands:
- Stryker Corporation
- Hamamatsu Photonics K.K.
- Olympus Corporation
- Medtronic PLC
- OnLume Inc.
- Getinge AB
- Curadel LLC
- PerkinElmer, Inc.
- Karl Storz SE & Co. KG
- Irillic Pvt. Ltd
- Shimadzu Corporation
Industry Updates,
- In 2023, Unify Medical and the Mayo Clinic partnered to develop medical devices using Unify’s fluorescence-guided visualization technology.
- In 2024, Leica Microsystems introduced an updated version of its ARveo 8 digital visualization microscope, which enhances surgical visualization in neurosurgery.
Key Segments of Market Report:
By Type:
The industry is segregated into SPY system, PDE system, VS3 iridium system, and others.
By Surgery:
In terms of surgeries, the industry is divided into open surgery and laparoscopy/endoscopy.
By Application:
A few of the important applications include cancer surgeries, cardiovascular surgeries, and others.
By Region:
Key countries of North America, Latin America, East Asia, South Asia and Pacific, Western Europe, Eastern Europe, and the Middle East and Africa are covered.
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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