Surgical Navigation Systems Market Research Study, Emerging...

Surgical Navigation Systems Market Research Study, Emerging Technologies and Potential of Market from 2023-2032

Posted 2023-09-07 06:17:28

Market Highlights

Surgical Navigation Systems Market Research Report will grow at CAGR of 6.4% to hit 1.92 Billion by 2032.Surgical navigation systems are an integral part of computer-assisted surgery (CAS). Computer-assisted surgery makes minimally invasive surgical solutions feasible. The surgeon gets rapid information to determine where the patient needs to make incisions and perform surgery.

Segment Analysis

The global surgical navigation systems market report has been segmented by technology, application, and end-user. The market, based on technology, has been bifurcated into electromagnetic based navigation systems, optical navigation systems, and others.

Based on the application, the surgical navigation systems market has been segregated into neurosurgery, orthopedic surgery, ENT surgery, dental surgery, and others. The global surgical navigation systems market, based on the end-user, has been segmented into hospitals, ambulatory surgical centers, and others.

Regional Analysis

The Global Surgical Navigation Systems Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The Americas is likely to dominate the global surgical navigation systems market. This can be attributed to the growing surgical procedure and the increasing incidence of orthopedic surgeries in the region. In 2014, according to the American Academy of Orthopedic Surgeons (AAOS), about 370,770 total hip replacements (THR) and around 680,150 total knee replacements (TKR) surgeries were performed in the US. By 2030, primary THR is estimated to grow by 171% and primary TKR is projected to grow by up to 189%, for an estimated about 635,000 and 1.28 million procedures, respectively.

The European market for surgical navigation systems is expected to be the second largest during the review period. The rising number of neurosurgeries, coupled with various government initiatives, is expected to boost the growth of the regional market. For instance, The Getting It Right First Time (GIRFT), a National Health Service (NHS) improvement program delivered in partnership with the Royal National Orthopedic Hospital NHS Trust, projected that about 75,000 patients get admitted for neurosurgery each year in NHS hospitals across England. Additionally, the growing number of neurosurgeries in Europe is also fueling the market growth.

Asia-Pacific is expected to be the fastest-growing market owing to the geriatric population and the rising number of orthopedic surgeries in the region. Also, there is growing awareness about technological advancements, and the accessibility of several devices for surgical navigation is likely to drive the market growth during the forecast period.

The market in the Middle East & Africa is expected to witness steady growth due to limited access and healthcare affordability among the population in the Middle Eastern countries. Growing awareness regarding the health and availability of new treatment and diagnostic procedures is expected to fuel the market growth in this region.

Key Players

MRFR recognizes the following companies as the Key Players in the Global Surgical Navigation Systems Market— Medtronic PLC (Ireland), Brainlab (Germany), and Stryker Corporation (US).

Key Findings of the Study

The Global Surgical Navigation Systems Market is estimated to reach USD 1,324.63 million by 2025 at a CAGR of 6.27% during the assessment period

The Americas accounted for the largest share of the global surgical navigation systems market due to the rising geriatric population and product launches.

Based on technology, the electromagnetic based navigation systems segment accounted for the largest market share of 48.39% in 2018

Based on application, the neurosurgery segment accounted for the largest market share of 32.14% in 2018
On the basis of end user, the hospital segment accounted for the largest market share of 45.99% in 2018

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