Global Surgical Navigation Systems Market Estimated to Value Over USD 900 Million by 2026 End

  • 12 Oct 2019

The global surgical navigation systems market is forecasted to value over USD 900 Million by 2026 and register a CAGR of 6.1% during the forecast period 2019-2026.

The factors responsible for the surgical navigation systems market growth are growing preference towards minimally invasive surgical procedures and increasing neurological disorders. The growing number of regulatory and partnerships among prominent players is also contributing towards growth of the market. In addition, increasing incidence of orthopedic treatments coupled with increasing government initiatives for research and development activities for surgical navigation is positively influencing the market. The growing prevalence of ENT disorders is also increasing the surgical navigation system market size.

The market is bifurcated into by technology, by application, by end-user, and by region.  On the basis of technology, electromagnetic segment is expected to increase the surgical navigation system market share. Technological advancements in electromagnetic surgical navigation system alongside the availability of them at lower prices is expected to dominate the growth of the market. These systems provide a better line of sight compared to others, hence resulting in expansion of surgical navigation system market share. 

In terms of application, ENT is expected to increase the surgical navigation systems market share. The rise in ENT disorders alongside advantages offered by surgical navigation systems such as greater precision and shorter recovery time in ENT is driving the growth of the market. According to the figures released by Healthcare Cost and Utilization Project, majority of the therapeutic surgeries of nose, ear, and eyes are performed in an outpatient setting. All these factors contribute towards ENT surgery segment thus increasing the surgical navigation systems market size.  

On the basis of end-users, physician practices & ambulatory settings are expected to hold a vast share of the market.  The shortage of hospital beds coupled with limited economic sources has contributed towards the demand for physician practices and ambulatory settings, thus fueling the growth of the market. It also offers benefits advantages as quick discharge, higher efficiency, and low cost. These features are expected to positively influence the market.

In terms of region, North America is the global leader of the market owing to the high prevalence of ENT disorders and increasing government funding for the development of surgical navigation systems. The increase in adoption of minimally invasive surgeries has also bolstered the market in the region. Increasing regulatory approvals and increasing adoption of ambulatory settings also fueled the growth of the market.

Asia-Pacific region is also expected to control the market during the forecast period owing to the presence of huge patient population. Improvement of healthcare coupled with growing prevalence of orthopedic disorders is also expected to increase the surgical navigation system market share in the region. Increasing geriatric population in region like China and Japan is expected to positively influence the market in the region.

Prominent players of the market are Siemens Healthineers, Amplitude Surgical, Karl Storz GmbH & Co. KG, Zimmer Biomet Holdings, Inc., B.Braun Melsungen AG, Brainlab AG, Medtronic, Fiagon AG, Scopis GmbH and Brainlab AG.

 

Competitive Landscape:

  • Fiagon GmbH expanded its distribution agreement with Entellus Medical, Inc., as a result strengthening its foothold in North America region
  • Medtronic launched StealthStation ENT, a new SNS for ENT surgeries

 

Global Surgical Navigation Systems Market Segmentation:

By Technology:

  • Electromagnetic Navigation Systems
  • Hybrid Navigation Systems
  • Optical Navigation Systems
  • Fluoroscopy-based Navigation Systems
  • CT-based Navigation System
  • Other Navigation Systems

By Application:

By End-Users:

  • Hospitals
  • Physician Practices & Ambulatory Settings

By Region 

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Rest of the World

 

FutureWise Key Takeaways:

  • Growth Prospects
  • SWOT Analysis
  • Key Trends
  • Key data-points affecting market growth

 

Objectives of the Study:

  • To provide with an exhaustive analysis on the global surgical navigation systems market by technology, by application, by end-users and by region
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, industry-specific restraints and opportunities)
  • To forecast and evaluate micro-markets and the overall market 
  • To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and the rest of the world 
  • To record, evaluate and analyse competitive landscape mapping- technological advancements, product launches, expansions and mergers 

 

Get unlimited analyst support and customise this study further to your requirements, contact sales@futurewiseresearch.com