Newark, Aug. 21, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global surgical navigation systems market is expected to grow from USD 1.1 billion in 2021 to USD 1.9 billion by 2030, at a CAGR of 6.8% during the forecast period 2022-2030.
The changing lifestyle of the population with an unhealthy diet and no physical exercise has led to an increase in several lifestyle diseases and disorders. To treat such conditions related to the heart, lungs, ear, nose, or throat, individuals opt for surgical procedures owing to their long-term benefits. The growing geriatric population also contributes to the increasing number of elective surgeries for orthopedic, cardiovascular, ENT, and other chronic diseases.
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The minimally invasive nature of surgical navigation systems in surgical procedures and a faster healing process & better success rates have made it the industry standard for various surgeries. Therefore, the rising number of diseases combined and the increasing adoption of surgical navigation systems will drive the global surgical navigation systems market. New technological advancements that improve the visualization and allow the surgeon to track multiple medical devices simultaneously are anticipated to provide lucrative opportunities in the market as they will widen the scope of surgical navigation systems. However, the high cost of the surgical navigation system can hamper the market's growth. Stringent government guidelines and regulations will also challenge the market in the forecast period. Surgical navigation systems product recalls can hamper the brand reputation name and lead to losses for the market players. Innovations and comprehensive approval mechanisms can help overcome these challenges and provide an impetus to the global surgical navigation systems market.
Competitive Strategy
To enhance their market position in the global surgical navigation systems market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• Brainlab AG acquired mint Medical GmbH in march 2021. Mint Medical GmbH specializes in developing and manufacturing image-reading software for research and diagnosis in hospitals. The acquisition aims to improve the image reading capabilities of the products to
• enhance diagnosis to provide suitable & optimal treatment options.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2022- 2030 |
| Forecast CAGR | 6.8% |
| 2030 Value Projection | USD 1.9 Billion |
| Market Size in 2021 | USD 1.1 Billion |
| Historical Data | 2020-2021 |
| No. of Pages | 237 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Application, Technology, End User, Regions |
| Regions Covered | The market's regions are Asia Pacific, Europe, South America, North America, and the Middle East and Africa. Furthermore, the regions are further analyzed at the country level. |
| Surgical Navigation Systems Market Growth Drivers |
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Market Growth & Trends
Increasing incidence of chronic diseases, growing geriatric population, the prevalence of sedentary lifestyle, product innovations, increased government spending on healthcare infrastructure, as well as increased public awareness about the available treatments are driving the surgical navigation systems market; the requirement to improve treatment services and device quality for clients is likely to provide an impetus for innovative surgical navigation systems and its applications. Increasing government healthcare expenditure is anticipated to drive the global surgical navigation systems market. Streamlining and improving regulatory procedures to increase approval & compliance rates will also benefit the market. The rising complexities of medical procedures can be handled efficiently with advanced surgical navigation technologies, facilitating 3D mapping and a better understanding of human anatomy. The visual and spatial clarity provided by surgical navigation systems without any significant incisions increases surgeons' confidence, making them more efficient, which results in improved success rates. The accuracy, precision, better post-op recovery, faster healing, shorter hospital stays, and increased comfort of the patients provided by surgical navigation systems are several benefits that will propel the global surgical navigation systems market.
Key Findings
• In 2021, the neurosurgery navigation systems segment dominated the market with the largest market share of 22% and market revenue of 0.2 billion.
The application segment is divided into spinal navigation systems, orthopedic navigations systems, neurosurgery navigation systems, cardiac navigation systems, dental navigation systems, ENT navigation systems, & others. In 2021, the neurosurgery navigation systems segment dominated the market with the largest market share of 22% and market revenue of 0.2 billion.
• The optical navigation systems segment is expected to grow at the fastest CAGR of 7.5% over the forecast period.
The technology segment is divided into electromagnetic navigation systems, optical navigation systems, fluoroscopy navigation systems, CT-based navigation systems, hybrid navigation systems, & others. Over the forecast period, the optical navigation systems segment is expected to grow at the fastest CAGR of 7.5%.
• In 2021, the hospitals segment accounted for the largest share of the market, with 53% and market revenue of 0.5 billion.
The end-user segment is divided into hospitals, clinics, physician practices & ambulatory settings, & others. In 2021, the hospitals segment accounted for the largest share of the market, with 53% and market revenue of 0.5 billion. Hospitals are the most well-known and comfortable institutions for an average individual when seeking treatments options compared to the other segments. The government's initiatives to provide treatments with favorable reimbursement policies have become affordable and accessible to middle-class and lower-class citizens.
Regional Segment Analysis of the Surgical Navigation Systems Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North American region emerged as the largest market for the global surgical navigation systems market, with a market share of around 37.6% and 0.4 billion of the market revenue in 2021. The Asia Pacific is expected to witness the fastest growth in the surgical navigation systems market. The surgical navigation systems market in the Asia Pacific has been expanding rapidly. China dominates the surgical navigation systems market in the Asia Pacific. According to the world aging population report of 2019 published by the United Nations, 703 million people aged 60 and above. This figure is estimated to reach 1.5 billion by 2050. The prevalence of orthopedic diseases, cardiovascular, respiratory & other chronic diseases is high in the geriatric population. China has a significant share of the global aging population owing to the one-child policy in the past decades. Surgical procedures are often chosen to treat the diseases & disorders mentioned above, and an increase will follow an increase in demand for surgeries in surgical navigation systems. Surgical navigation systems are the new age state of the art devices that can help treat such disorders with faster recovery, less discomfort & pain, which will propel the market's growth. Increasing accessibility of surgical navigation systems needs to become a priority for all relevant institutions.
Key players operating in the global surgical navigation systems market are:
• Medtronic PLC
• Brainlab AG
• Siemens Healthineers
• Stryker Corporation
• Amplitude Surgical AG
• Zimmer Biomet Holdings
• B. Braun Melsungen AG
• Scopis GmbH
• Fiagon AG Medical Technologies
• Karl Storz SE & Co. KG
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global surgical navigation systems market based on the below-mentioned segments:
Global Surgical Navigation Systems Market by Application:
• Spinal Navigation Systems
• Orthopedic Navigations Systems
• Neurosurgery Navigation Systems
• Cardiac Navigation Systems
• Dental Navigation Systems
• ENT Navigation Systems
• Others
Global Surgical Navigation Systems Market by Technology:
• Electromagnetic Navigation Systems
• Optical Navigation Systems
• Fluoroscopy Navigation Systems
• CT Based Navigation Systems
• Hybrid Navigation Systems
• Others
Global Surgical Navigation Systems Market by End User:
• Hospitals
• Clinics
• Physician Practices & Ambulatory Settings
• Others
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About the report:
The global surgical navigation systems market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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