Dublin, May 23, 2023 (GLOBE NEWSWIRE) -- The "Surgical Navigation Systems Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global surgical navigation systems market grew from $6.77 billion in 2022 to $7.72 billion in 2023 at a compound annual growth rate (CAGR) of 14.0%. The surgical navigation systems market is expected to grow to $12.3 billion in 2027 at a CAGR of 12.4%.
Major players in the surgical navigation systems market are B Braun Melsungen AG, Stryker Corporation, Medtronic plc, Siemens AG, Zimmer Biomet Holdings Inc., Karl Storz GmbH & Co KG, Amplitude Surgical, Brainlab AG, Fiagon AG Medical Technologies Inc., NuVasive Inc., Smith & Nephew plc, Johnson & Johnson, Advanced Medical Systems Pte Ltd., Corin Group, and Ilumark GmbH.
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The surgical navigation market includes revenues earned by entities by providing electrical brain stimulation services, nuclear magnetic resonance imaging, computer assisted tomography, magnetic resonance angiography services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Surgical navigation refers to a set of robotic-assisted surgical procedures that allow surgeons to plan, guide, and prepare for the surgery need to be performed. It is a set of technology-based procedures that displays real-time footage of the internal cavity and equipment positioning to gather medical imaging of organs.
North America was the largest region in the surgical navigation systems market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surgical navigation systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of technologies in surgical navigation systems are electromagnetic navigation systems, optical navigation systems, hybrid navigation systems, fluoroscopy-based navigation systems, CT-based navigation systems, and others. Electromagnetic navigation system refers to the use of electromagnetic wave-assisted software to gather an image of soft tissue or cavity of the body to perform surgery. The various applications include neurosurgery navigation systems, orthopedic navigation systems, ENT navigation systems, dental navigation systems, and others that are used by hospitals, physician practices, and ambulatory settings end users.
Rising demand for minimally invasive surgical procedures is expected to propel the surgical navigation system market going forward. Minimally invasive surgery refers to surgical operations performed using small incisions and cuts in the body to prevent blood loss and body pain. Minimally invasive procedures are less painful, require less time in the hospital, and have fewer problems. It gives the physician an enlarged, three-dimensional image of the surgical site and supports precise, adaptable, and controlled surgical procedures.
Hence people are shifting toward invasive surgical procedures, which increases the demand for surgical navigation technologies to precisely track instrument positions and project the instrument position onto the preoperative imaging data to surgeons.
For instance, according to Cleveland Clinic, a US-based academic medical center, the total number of laparoscopic procedures performed yearly is 13 million in 2022 across the globe and estimated to increase to 1% by 2026. Furthermore, in September 2020, according to an article published by the Journal of Minimally Invasive Gynecology, a US-based science publishing company, 61% of minimally invasive surgeries were performed in the US for the treatment of endometrial cancer. Therefore, the rising demand for minimally invasive surgical procedures is anticipated to fuel the market.
Technological advancement is a key trend gaining popularity in the surgical navigation system market. Major market players are focused on creating innovative technologies to improve patient experience during surgical operations.
In May 2022, Medtronic plc, an Ireland-based medical technology company acquired Intersect ENT, Inc. for $1.1 billion. The acquisition helps Medtronic plc to expand its product portfolio in ENT surgeries, post-operative sinus implants, surgical navigation systems, and product reach to North America. Intersect ENT, Inc. is a US-based healthcare equipment manufacturing company specializing in drug-delivery devices, surgical navigation, and robotic procedures to assist minimally invasive surgical operations.
The countries covered in the surgical navigation systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $7.72 billion |
| Forecasted Market Value (USD) by 2027 | $12.3 billion |
| Compound Annual Growth Rate | 12.3% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Surgical Navigation Systems Market Characteristics
3. Surgical Navigation Systems Market Trends And Strategies
4. Surgical Navigation Systems Market - Macro Economic Scenario
4.1. COVID-19 Impact On Surgical Navigation Systems Market
4.2. Ukraine-Russia War Impact On Surgical Navigation Systems Market
4.3. Impact Of High Inflation On Surgical Navigation Systems Market
5. Surgical Navigation Systems Market Size And Growth
5.1. Global Surgical Navigation Systems Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Surgical Navigation Systems Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Surgical Navigation Systems Market Segmentation
6.1. Global Surgical Navigation Systems Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Electromagnetic Navigation Systems
- Optical Navigation Systems
- Hybrid Navigation Systems
- Fluoroscopy-Based Navigation Systems
- CT-Based Navigation Systems
- Other Technologies
6.2. Global Surgical Navigation Systems Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Neurosurgery Navigation Systems
- Orthopedic Navigation Systems
- ENT Navigation Systems
- Dental Navigation Systems
- Other Applications
6.3. Global Surgical Navigation Systems Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Hospitals
- Physician Practices and Ambulatory Settings
7. Surgical Navigation Systems Market Regional And Country Analysis
7.1. Global Surgical Navigation Systems Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Surgical Navigation Systems Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/zfz12m
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