Surgical Navigation Systems Market Outlook 2023
The Global Surgical Navigation Systems Market is Expected to Grow Significantly Over the Forecast Period. It is Anticipated that the Market held a Valuation of USD 753.6 million in 2018 and is Projected to Register a CAGR of 6.7% Over the Forecast Period.
Various other factors such as the increasing prevalence of orthopedic & neurology disorders, acceptance of surgical navigation systems in ambulatory settings, untapped emerging markets, rise in regulatory approvals, and increasing healthcare expenditure are also expected to propel the growth of the market.
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According to the Australian Institute of Health and Welfare, from 2015 to 2016, there were 10.6 million hospitalizations, and 1 in 4 hospitalizations involved a surgical procedure. The increasing number of surgical procedures and technological advancements are some of the key factors driving the surgical navigation systems market.
Surgical Navigation Systems Market - Segmentation
The Global Surgical Navigation Systems Market is segmented based on technology, application, end user, and region.
By technology, is segmented into optical navigation systems, electromagnetic (EM) navigation systems, and hybrid navigation systems.
Based on application, the market is segmented into neuronavigation systems, ENT navigation systems, orthopedic navigation systems, spinal navigation systems, and dental navigation systems. The orthopedic navigation systems segment is further classified as imageless orthopedic navigation systems, CT-based orthopedic navigation systems, and fluoroscopy-based orthopedic navigation systems.
Based on end user, the market is segmented into hospitals, ambulatory surgical centers, and others. The ambulatory surgical centers segment is expected to witness the fastest growth over the forecast period due to a shortage of hospital beds and rising adoption of ambulatory surgical centers.
Key Players
Some of the key players in the global surgical navigation systems market are
- Stryker Corporation
- Depuy Synthes
- R. Bard Inc.
- Medtronic Plc.
- Amplitude Surgical
- Brainlab AG
- Scopis GmbH
- Zimmer Biomet Holdings Inc.
- Fiagon AG
- Karl Storz GmbH & Co. Kg
- Omni Health Inc.
- CAScination AG
- Siemens AG
- and others.
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Regional Analysis
In the current scope of the study, the segments mentioned above are covered into the four global regions, namely, the Americas, Europe, Asia-Pacific, and the Middle East and African region.
The surgical navigation systems market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European surgical navigation systems market has been segmented into Western Europe and Eastern Europe. Western Europe has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The surgical navigation systems market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The surgical navigation systems market in the Middle East & Africa has been segmented into the Middle East and Africa.
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The global surgical navigation systems market size is expected to reach USD 1.44 billion by 2027, exhibiting a 7.2% CAGR during the forecast period, according to a new report published by Radiant Insights, Inc.
Growing geriatric population along with rising prevalence of brain cancer, orthopedic degenerative and ENT among other target disorders and diseases is expected to propel the demand for surgical navigation systems (SNSs).
Aging is considered as the greatest risk factor for the development of degenerative disorders of joints; such as osteoporosis.
Osteoarthritis and osteoporosis are the most common disorders in the population aged over 65 years.
They offer visual imaging at every stage of the surgery thereby allowing modification of plan during the surgical procedure according to intra-operative findings.
Further key findings from the study suggest: • Neurology segment held the largest market share of 36.67% in 2019, owing to the early implementation of surgical navigation in this branch and the advantages associated with SNSs that aid the surgeons to perform complex surgeries with increased accuracy • ENT segment is expected to expand at a lucrative CAGR of 8.2% over the forecast period, owing to the rising prevalence of ENT disorders along with increasing adoption in ENT surgeries • On the basis of technology, the electromagnetic SNSs segment held the largest market share in 2019, owing to low cost and ease of use of the technology • Optical SNSs segment is expected to witness an exponential CAGR of 8.1% owing to its advantages over electromagnetic SNSs such as precise and accurate navigation • Key players in surgical navigation systems market are engage in various strategies such as new product developments for better market penetration.
Nov 27 2020: Surgical Navigation Systems are an integral part of computer-assisted surgery (CAS).
In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market.
Surgical Navigation Systems Report by Material, Application, and Geography - Global Forecast to 2023 is a professional and comprehensive research report on the world's major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, United Kingdom, Japan, South Korea and China).Global Surgical Navigation Systems Market Expected to Reach $789 Million by 2020 growing at a CAGR of 6.3% from 2016 to 2020.
Optical navigation systems segment is expected to grow at the highest growth rate during the forecast period, owing to benefits such as minimum radiation exposure and preciseness & accuracy during complex surgeries.
To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/global-surgical-navigation-systems-market-research-report-2019-2023/request-sampleThe major factors that drive the growth of this market include rise in adoption of minimal invasive surgeries, improvement in healthcare infrastructure in emerging economies, numerous technological advancements, increase in incidence of ENT and neurosurgery-related disorders, and growth in knee replacement surgeries globally.However, high cost of these systems and stringent FDA rules are the major barriers that restrain the market growth.
ENT navigation system segment is anticipated to grow at the highest CAGR, attributed to the increase in prevalence of ENT-related disorders and rise in adoption of surgical navigation systems among ambulatory settings.
