NEW YORK, May 27, 2020 (GLOBE NEWSWIRE) -- The global surgical navigation market was valued at USD 837.0 million in 2019 and is expected to reach USD 1,273.8 million by 2025, growing at a CAGR of 7.3% during 2020-2025.
Industry Insights by Technology (Hybrid Navigation Systems, Optical Navigation Systems, Electromagnetic Navigation Systems), by Application (Dental, ENT, Spinal, Neuro, Orthopedic), by Patient Care Setting (Ambulatory Surgical Center, Hospitals)
Globally, manufacturing companies trying to enter the surgical navigation market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players. This offers an edge to the established players in the industry competition.
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Growing prevalence of diseases such as brain cancer, osteoarthritis, and ENT disorders along with increasing aging population is expected to enhance the growth of the global surgical navigation market.
Furthermore, the growing demand for minimally invasive procedures is one of the key factors responsible for increasing the adoption of surgical navigation during the forecast period. The minimally invasive techniques are becoming the standards of surgical techniques, at a very rapid pace, for a number of surgical procedures. These minimally invasive procedures involve smaller incisions leading to quicker recovery. Minimally invasive surgical procedures are increasing at a very fast rate owing to the innovations and advancements in surgical tools. These procedures increase patient compliance by reducing hospital stay and time required for healing invasion made during operation. Thus, in turn, expected to drive the growth of the market.
The Hospitals segment is expected to generate the largest revenue by 2025 in the global surgical navigation market
By patient care setting, the global surgical navigation market is categorized into ambulatory surgical centers, and hospitals. In 2019, the installation of surgical navigation systems in hospitals and strong government intent towards the development of efficient healthcare infrastructure enables it to hold maximum share in the global navigation systems market. While ambulatory surgical centers category is expected to exhibit the faster growth rate, owing to huge work load in hospitals.
Geography Insight
Geographically, North America was the largest surgical navigation market in 2019. This is owing to the acceptance of minimally invasive surgeries. Increase in surgical operations, government support for the progress of these systems, growing aging population, and increasing regulatory sanctions. For instance, according to the U.S. Census Bureau, in 2012 approximately 43.1 million people were aged 65 years and older in the U.S. and is expected to reach 83.7 million in 2050.
Competitive Insight
Some of the key players operating in the global surgical navigation market are Medtronic PLC, Amplitude Surgical, Brainlab AG, Zimmer Biomet Holdings, Fiagon GmbH, Scopis GmbH, Karl Storz GmbH & Co. Kg, B. Braun Melsungen AG, Stryker Corporation, Inc., and Siemens AG.
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The Report Offers:
- Historical market estimate for the years 2015–2019 and forecast for the years 2020–2025
- Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
- Market insights by in-depth segmentation with industry dynamics.
- Competitive analysis and benchmarking of the industry leaders and their product offerings
- Profiles of leading players and innovators, their financial overview and product portfolio
- Analysis of key industry trends and recent developments
- Value chain analysis and distribution channel analysis with opportunity assessment
- Market share analysis of major players
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The report provides the market value for the base year 2019 and a yearly forecast until 2025 in terms of revenue (USD Billion). The report segments the global voice assistant market on the basis of component, vertical, technology, application, end-user and region.
Global Surgical Navigation Market Coverage
Technology Insight and Forecast 2015 – 2025
- Hybrid Navigation Systems
- Optical Navigation Systems
- Electromagnetic Navigation Systems
Application Insight and Forecast 2015 – 2025
- Dental
- ENT
- Spinal
- Neuro
- Orthopedic
Patient Care Setting Insight and Forecast 2015 – 2025
- Ambulatory Surgical Center
- Hospitals
Geographical Segmentation
Surgical Navigation Market by Region
North America
- By Technology
- By Application
- By Patient Care Setting
- By Country – U.S., Canada, and Mexico
Europe
- By Technology
- By Application
- By Patient Care Setting
- By Country – Germany, U.K., France, Italy, Spain, Italy, Switzerland, the Netherlands, and Rest of Europe
Asia-Pacific (APAC)
- By Technology
- By Application
- By Patient Care Setting
- By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific
Rest of the World (RoW)
- By Technology
- By Application
- By Patient Care Setting
- By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
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