By 2030, the surgical navigation system market growth is anticipated to grow at a compound annual growth rate of 6.2%, reaching a worth of US$ 1,700 Million by 2030.
Surgical Navigation Systems is one of the most reliable technology which is developed to render surgeries safer and less invasive as compared to the surgeries without Surgical Navigation Systems.
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Navigation during surgery is an excellent technology applied currently in medical devices. Surgical Navigation Systems have accelerated the technical processes in a surgery and paved the way for complex procedures.
Surgical Navigation Systems target the anatomy to be operated on and guide to place the implant safely to the particular anatomy of the human body. Surgical Navigation Systems act as information centers during surgeries.
Surgical Navigation System is essential in accurate visualization of the anatomy and in surgery planning in a virtual environment. Surgical Navigation Systems reduce risks associated with surgeries.
Surgical Navigation System Market: Drivers & Restraints
The global surgical navigation system market is driven by the navigation technology which encompasses surgical planning software, intra-operative imaging and instrument tracking technologies.
Surgical Navigation Systems aid in guiding the surgeons to make data-oriented decisions during surgeries. This Surgical Navigation System technology is a driver for the global Surgical Navigation Systems market.
A major factor that could adversely affect the growth of the global Surgical Navigation Systems market is the surge of minimally invasive and non-invasive surgeries.
The minimally invasive and non-invasive surgeries are becoming popular among the masses owing to the rapid post-operative recovery with minimal pain to the patient.
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Surgical Navigation System Market: Overview
Surgical Navigation System is also known as computer-aided surgery or computer-assisted intervention. The navigation system has to perform medical imaging of the anatomy which leads to image analysis.
Based on the image generated, the navigation system helps in diagnosis and surgery simulation. The global surgical navigation system market is majorly dominated by the neurosurgery segment owing to the complicated procedures.
Orthopedic navigation systems accounted for the second highest share in the global surgical navigation system market, closely followed by ENT navigation system.
Surgical Navigation System Market: 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 market due to the well-established infrastructure and advanced Information Technology (IT) in healthcare.
Surgical Navigation System Market: 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.
The global surgical navigations system manufacturers are involved getting product approvals from Food and Drug Administration (FDA) and other regulatory authorities for market launch of their products.
The global surgical navigations system market players are encouraging acquisitions and strategic collaborations to gain competitive advantage, expand into emerging markets and broaden the product portfolio.
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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
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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