The global surgical navigation system market is poised for substantial growth over the next decade, driven by increasing technological advancements in precision surgery. Valued at USD 940 million in 2020, the market is projected to achieve a robust compound annual growth rate (CAGR) of 6.2%, reaching an estimated valuation of USD 1,700 Million by 2030.
Surgical navigation systems play a critical role in enhancing the accuracy of complex surgical procedures, leading to improved patient outcomes. This steady market growth is fueled by rising demand for minimally invasive surgeries, advancements in medical imaging, and an increasing focus on patient safety.
As healthcare professionals continue to adopt these cutting-edge systems, the global surgical navigation system market is expected to witness sustained momentum through 2030, contributing to better surgical outcomes and advancing the future of healthcare.
Surgical Navigation Systems target the anatomy to be operated on and guide implant placement in a safe manner to the specific anatomy of the human body. Surgical Navigation Systems serve as information hubs during operations.
A Surgical Navigation System is critical for correct anatomy visualisation and surgery planning in a virtual environment. Surgical Navigation Systems help to lessen the hazards of surgery.
Global Surgical Navigation System Industry: Drivers & Restraints
The navigation technology, which includes surgical planning software, intra-operative imaging, and tool tracking technologies, drives the Global Surgical Navigation System Industry.
Surgical Navigation Systems assist surgeons in making data-driven decisions during procedures. This Surgical Navigation System technology is propelling the worldwide Surgical Navigation Systems market forward.
The rise in minimally invasive and non-invasive operations is a major factor that could hamper the growth of the worldwide Surgical Navigation Systems market.
Because of the speedy post-operative recovery with minimum pain to the patient, minimally invasive and non-invasive operations are gaining popularity among the general public.
Global Surgical Navigation System Industry: Overview
Computer-aided surgery or computer-assisted intervention are other terms for Surgical Navigation System. The navigation system must do anatomical imaging, which leads to image analysis.
The navigation system assists in diagnosis and operation simulation based on the image created. Due to the complexity of the treatments, the neurosurgery segment dominates the Global Surgical Navigation System Industry.
The Global Surgical Navigation System Industry was led by orthopedic navigation systems, which were closely followed by ENT navigation systems.
Global Surgical Navigation System Industry: Region-wise Outlook
Depending on geographic regions, global Surgical Navigation System market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa.
Due to the mature healthcare sector in the North American countries, North America held a substantial market share in the global Surgical Navigation System market and is expected to retain the share over the forecast period.
The countries of Japan and Germany are projected to present considerable growth rate in the Global Surgical Navigation System Industry due to the well-established infrastructure and advanced Information Technology (IT) in healthcare.
Global Surgical Navigation System Industry: Key Players
Some of the key players in the global Surgical Navigation System are GE Healthcare Ltd., Medtronic Inc., Siemens Healthcare Corporation, Stryker Corporation, B.Braun Melsungen AG, Bausch & Lomb Incorporated, CAScination AG and Brainlab AG.
Manufacturers of worldwide Surgical Navigation Systems are involved in obtaining product approvals from the Food and Drug Administration (FDA) and other regulatory authorities in order to market their goods.
Acquisitions and strategic alliances are being encouraged by worldwide surgical navigations system market participants in order to acquire a competitive advantage, expand into emerging markets, and widen the product range.
The research study provides an in-depth analysis of the market and includes meaningful insights, facts, historical data, and statistically supported and industry-validated market statistics.
It also includes estimates based on an appropriate set of assumptions and procedures. The research study analyses and gives information categorised as market segments, geographies, types, technology, and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Key Segments
By Technology:
- Electromagnetic Navigation Systems
- Hybrid Navigation Systems
- Optical Navigation Systems
- Fluoroscopy-based Navigation Systems
- CT-based Navigation System
- Others
By Application:
- Neurosurgery
- Orthopedic Surgery
- ENT surgery
- Cardiac surgery
- Others
By End Use:
- Hospitals and Physician Practices
- Ambulatory Surgery
Author
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.
About Future Market Insights (FMI)
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