The Surgical Navigation Systems Market
Insights by Technology (Electromagnetic Based Navigation Systems,
Optical Navigation Systems), Application (Neurosurgery, Orthopedic Surgery, ENT
Surgery, Dental Surgery), End-User (Hospitals, Ambulatory Surgical Centers) and
Region (Americas, Europe, Asia-Pacific, Middle East & Africa) - Forecast
till 2032
Surgical Navigation Systems Market 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 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 hospitals, ambulatory surgical centers, and
others.
Regional Analysis
The Global Surgical Navigation Systems Market trends, 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 the 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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