- North America and Europe are Lucrative Surgical Navigation Systems Markets; Use of Advanced Imaging Modalities to Advance Management of Surgical Procedures Help Cement Revenue Potential
- Worldwide Surgical Navigation Systems Form Key Enabler for Minimally Invasive Surgeries in Neurosurgery, Orthopedic, and ENT; Market Valuation to Reach US$ 1620 Mn by 2027-end
ALBANY, N.Y., July 21, 2020 /PRNewswire/ -- Surgical navigation systems are becoming an integral part of computer-assisted surgery in range of medical specialties notably for complex surgeries. They are instrumental in increasing the patient safety and boosting the surgical outcomes. An array of components in surgical navigation systems have gained popularity in neurosurgery, orthopedic, and ENT specialties.
Garnering CAGR of 8.5% from 2019 to 2027, the surgical navigation systems market, projects analysts at TMR, will reach US$ 1620 Mn by the end of 2027. The global valuation reached US$ 783 Mn in 2018. Surgical navigation systems are likely to form an integral part of cutting-edge minimally invasive surgeries in orthopedic surgeries of hip, shoulder, and knee replacements.
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Key Findings of Surgical Navigation Systems Market Report
- Of the various regional markets, North America and Europe account for promising revenue shares throughout the forecast period
- Europe has seen spate of launches and North America benefits from favorable reimbursement policies
- Of the various applications, orthopedic segment contributed the leading share in 2018; the opportunities in the segment to rise at exponential rate
- ENT expected to offer promising share of revenues to the surgical navigation systems market; Untapped market to spur demand
- Of the various end-use applications, hospitals held the top share in 2018; this is trailed by ambulatory surgical centers (ASCs); adoption of technologically advanced equipment boost potential
Explore 180 pages of top-notch research, incisive insights, and detailed country-level projections on Surgical Navigation Systems Market (Application - Neurosurgery, Orthopedic (Spine, Knee, Hip), ENT; Technology - Optical Navigation System and Others; End user - Hospitals, Ambulatory Surgical Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/report-toc/2646
Surgical Navigation Systems Market: Key Driving Factors and Promising Avenues
- The drive for surgical navigation systems market pivots on several advantages of augmented computer-assisted systems in surgery, such as unparalleled precision, improved precision, less pain, and reduced hospital stays.
- Experts opine that robotic navigated surgery are on the path to get mainstreamed in surgery as the operational theatre of the future, underpinning the potential of surgical navigation systems. Surgeons have been using these systems to observe tumors and blood vessels which might be unseen with naked eye.
- Growing incidence of complicated surgeries in orthopedics and neurosurgery has also raised awareness of the potential of surgical navigation systems market. A part of the demand is fueled by rising numbers of elderly patients that demand minimally invasive and cutting-edge surgical systems.
- Rising prevalence and mortality of cardiovascular diseases has led to high clinical focus on measuring ECG patterns in surgery. This has also boosted the demand for advanced surgical navigation systems in operation theatres.
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Surgical Navigation Systems Market: Notable Impediments
The high cost of surgical navigation systems has constrained the pace of adoption globally, restraining the surgical navigation systems market to reach its revenue potential. Cost-sensitive markets are expected to postpone the wide adoption of these systems in operational theatres. The demand in some regions has also suffered due to product recalls and lack of clinical expertise.
On the other hand, manufacturers and vendors are actively looking to allay these concerns. For one, they are trying to reduce the cost of acquisition of surgical navigation systems for ENT surgeries.
Some of the top players in the surgical navigation systems market are Siemens Healthineers, Zimmer Biomet Holdings, Inc., E Healthcare B. Braun Melsungen AG, Medtronic plc, and Stryker Corporation. Prominent companies enjoy considerable clout on account of their huge geographical reach. They are also spending substantially on product development strategies. Overall, the surgical navigation systems market exhibits a consolidated landscape.
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The Surgical Navigation Systems Market can be segmented as follows:
Application
- Neurosurgery
- Orthopedic
- Spine
- Knee
- Hip
- ENT
- Others
Technology
- Optical Navigation Systems
- Others
End-user
- Hospitals
- Ambulatory Surgical Centers
- Others
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
Wound Healing Market: The rising prevalence of diabetes and the rising geriatric population are considered as the major factors that are projected to encourage the growth of the global wound healing market in the next few years. The developments and innovations in the wound care products and the rising investments for the research of wound care are estimated to accelerate the growth of the market in the next few years.
Minimally Invasive Surgery (MIS) Market: The global minimally invasive surgery (MIS) market (laparoscopic surgery, robotic surgery, EMR, ESD) was valued at US$ 1.1 Bn in 2017 and is projected to expand at a CAGR of 9.2% from 2018 to 2026. The endoscopic mucosal resection segment dominated the global M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) market in 2017.
Neurosurgery Devices Market: The global neurosurgery devices market is projected to be driven by the high prevalence and rise in incidence rates of various neurological disorders across the world. Technological advancements in neurosurgery devices such as minimally invasive surgical devices, development of neurosurgery software, and advancements in neurostimulation devices are estimated to fuel the neurosurgery devices market during the forecast period.
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