Fluorescence Guided Surgery Systems Market – Type (SPY System, PDE System, VS3 Iridium System), Surgery (Open, Laparoscopic/Endoscopic), Application (Cancer, Cardiovascular) – Global Forecast (2024 – 2032)

Fluorescence Guided Surgery Systems Market Size

Fluorescence Guided Surgery Systems Market size was valued at USD 92.7 million in 2023 and is expected to reach USD 358.8 million by 2032 growing at a CAGR of 16.3% over the analysis period. Increasing prevalence of chronic diseases, growth in targeted surgeries for cancer and cardiovascular disorders, growing focus towards improving surgical outcomes and reducing operating time are driving the revenue growth in the market.
 

Furthermore, government support and initiatives for improving healthcare infrastructure in surgical settings is also supporting the revenue growth in the market. With the global incidence of cancer on the rise, the demand for more accurate and effective surgical procedures has increased. According to the American Cancer Society, the number of cancer cases is predicted to increase from 20 million in 2022 to 35 million in 2050. Fluorescence-guided surgery systems are emerging as a promising solution, allowing surgeons to better visualize tumor margins and detect even the smallest clusters of cancer cells. As a result, the adoption of fluorescence-guided surgery systems is increasing across surgical settings.
 

Fluorescence Guided Surgery Systems Market Trends

• Several trends are shaping the development and adoption of new and advanced fluorescence-guided surgery systems and consumables used during surgeries. Vendors are increasingly focusing towards investing in the research and development of new contrast agents to improve specificity and targeting. There is a growing emphasis on developing contrast agents with enhanced specificity for cancer cells or specific molecular targets.
   
• According to the February 2022 article from Oregon Health & Science University (OHSU), a total of 105 clinical trials, either ongoing or completed, were registered to investigate 39 distinct novel contrast agents for fluorescence-guided surgery. Such advances in imaging agents are expected to further boost the targeting capabilities in fluorescence guided surgeries thereby driving the adoption of Fluorescence Guided Surgery Systems during the forecast period.
   

Fluorescence Guided Surgery Systems Market Analysis

Based on the type, the market is classified into SPY system, PDE system, VS3 iridium system, and other types. The SPY system segment dominated the global market by securing a significant share of 55.2% in 2023.
 

• The dominating share of the SPY system segment can be attributed to its strong and established presence in the fluorescence-guided surgery market. Moreover, these systems have been extensively validated and clinically proven, which has helped in increasing the trust of medical professionals.
   
• Additionally, the SPY system is versatile and adaptable, catering to a range of surgical procedures and clinical environments. Its modular design facilitates seamless integration with diverse surgical instruments and imaging modalities, thereby increasing its adoption across both open and laparoscopic/endoscopic surgery.
   

Based on the surgery, the fluorescence guided surgery systems market is classified into open surgery and laparoscopic/endoscopic surgery. The open surgery segment dominated the global market by securing a significant share of 52.4% in 2023.
 

• The dominance is propelled by several benefits offered by open surgeries. During open surgeries, surgeons have direct access to the surgical field, enabling them to better visualize and manipulate tissues. This direct access also facilitates the use of fluorescence imaging systems and fluorescent contrast agents for real-time visualization of tumor margins and critical structures.
   
• Moreover, fluorescence-guided surgery systems typically rely on specialized imaging equipment, such as fluorescence cameras or near-infrared (NIR) imaging systems, which may be more accessible and easier to incorporate into open surgical setups.
   

Based on the application, the fluorescence guided surgery systems market is classified into cancer surgeries, cardiovascular surgeries, and other applications. The cancer surgeries segment dominates the market and is expected to value at USD 223.9 million by 2032. The leading share of cancer surgeries can be attributed to increasing prevalence of cancer worldwide, and the need for precise tumor removal during surgery.
 

North America region is projected to maintain its dominance in the global fluorescence guided surgery systems market and is anticipated to reach USD 138.6 million by 2032.
 

• North America dominates the market owing to several factors including the presence of large patient population, presence of significant number of established vendors, presence of advanced healthcare infrastructure, and high awareness for state-of-the-art surgical therapies. 
   

US dominated the North America fluorescence guided surgery systems market with a share of about 88.5% in 2023.
 

• Increased emphasis on advanced medical care and patient outcomes through implementation of cutting-edge surgical technologies such as fluorescence guided surgery systems is contributing to the market growth.
   
• Moreover, the presence of a large patient population opting for surgical interventions during cancer treatment, and presence of large number of established vendors in the country is also supporting the revenue growth in the market.
   

In Europe, UK leads the fluorescence guided surgery systems market, showcasing a significant growth potential.
 

• Increasing demand for surgical interventions for treating cancer and cardiovascular disorders has propelled the growth in advanced surgical interventions such as fluorescence guided surgeries. According to Cancer Research UK, UK is expected to witness a rise in cancer prevalence from 420,000 in 2023-2025 to 506,000 in 2038-2040. With the growing burden on healthcare facilities, the demand for rapid surgical intervention technologies such as fluorescence guided surgeries is expected to increase in UK.
   
• Furthermore, government support towards promoting the adoption of advanced surgical systems and growth in pioneering research in medical imaging and surgical techniques to foster the innovations and development in fluorescence-guided surgery systems is further driving their adoption in UK.
   

Asia Pacific is expected to remain the fastest growing region in the fluorescence-guided surgery systems market through 2032, growing at a CAGR of 17.9%. China dominated the Asia Pacific fluorescence-guided surgery systems market.
 

• The Chinese government has significantly invested in healthcare infrastructure, research, and development. Programs like the "Healthy China 2030" initiative focus on enhancing healthcare quality and accessibility, leading to increased funding for cutting-edge medical technologies, which is contributing to the market growth.
   
• Additionally, China has made remarkable strides in medical research and innovation, with Chinese companies and research institutions actively participating in the development of medical imaging technologies, including fluorescence-guided surgery systems at a competitive pricing, enhancing their presence globally.
   

Fluorescence Guided Surgery Systems Market Share

The fluorescence guided surgery systems industry is moderately fragmented with the presence of considerable number of established players. Established market players have adopted product launches and innovation as their key growth strategies to gain competitive edge over their rivals.
 

Fluorescence Guided Surgery Systems Market Companies

Prominent players operating in the fluorescence guided surgery systems industry are as mentioned below:

• Stryker Corporation
• Olympus Corporation
• KARL STORZ SE & Co. KG
• Medtronic plc
• Carl Zeiss Meditec AG
• Danaher Corporation (Leica Microsystems)
• Hamamatsu Photonics K.K.
• Shimadzu Corporation
• LI-COR, Inc.
• PerkinElmer Inc.
• Getinge (Fluoptics)
• OnLume Inc.
• Irillic Pvt. Ltd.
• Curadel, LLC 
   

Fluorescence Guided Surgery Systems Industry News

• In March 2024, Olympus Corporation announced the launch of VISERA ELITE III Surgical Visualization Platform in Mexico that caters to the requirements of healthcare professionals performing endoscopic procedures in various medical fields. The system supports fluorescence guided surgery and provides surgeon with multiple observation modes.
   
• In January 2024, Leica Microsystems (a subsidiary of Danaher Corporation) announced the launch of an updated version of ARveo 8 digital visualization microscope for use in neurosurgery. The product enhances surgical visualization using the application of a 3D view and Augmented-Reality (AR) fluorescence.
   

The fluorescence guided surgery systems market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, By Type

• SPY system
• PDE system
• VS3 iridium system
• Other types

Market, By Surgery

• Open surgery
• Laparoscopic/endoscopic surgery   

Market, By Application

• Cancer surgeries
• Cardiovascular surgeries
• Other applications

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa