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Surgical Navigation System Market

Market Insights on Surgical Navigation System covering sales outlook, demand forecast & up-to-date key trends

Surgical Navigation System Market By Technology (Electromagnetic Navigation Systems, Hybrid Navigation Systems, Optical Navigation Systems, Fluoroscopy-based Navigation Systems, CT-based Navigation System) & Region - Forecast 2022 - 2032

Surgical Navigation System Market Overview

The surgical navigation system market is projected to attain a CAGR of 6.2% during the forecast period, up from US$ 940 Mn in 2020 to reach a valuation of US$ 1,700 Mn by 2030. 

Attributes 

Details 

Surgical Navigation System Market CAGR 

6.2%

Surgical Navigation System Market (2030) 

US$ 1,700 Mn

Sales of surgical navigation systems spike as it is one of the most reliable technologies developed to render surgeries safer and less invasive compared to surgeries without surgical navigation systems. 

In addition, the demand for surgical navigation systems is expected to rise as navigation during surgery is an excellent technology applied currently in medical devices and has paved the way for complex procedures. 

Surgical navigation systems act as information centers during surgeries and reduce the associated risks, thereby fostering the demand for surgical navigation systems.

Higher sales of surgical navigation systems can also be attributed to the accurate visualization of the anatomy rendered and planning in a virtual environment. 

A surgical navigation system allows surgeons to perform preoperative planning and precise surgical navigation of instruments during the procedure, surging the demand for surgical navigation systems.

The rising prevalence of target conditions such as osteoarthritis, brain tumors, ENT disorders, and the growing senior population also fuel the sales of surgical navigation systems.

Increased funding for the treatment of cardiovascular disorders is also expected to spur innovation and research, resulting in higher demand for surgical navigation systems and surgical navigation system market growth.

Furthermore, the soaring demand for minimally invasive surgeries is another factor driving the sales of surgical navigation systems over the forecast period.

Demand for surgical navigation systems is also projected to increase due to technological advancements in these procedures and the introduction of new products.

The presence of a supportive regulatory structure is expected to drive the sales of surgical navigation systems and demand for surgical navigation systems. 

Rising reimbursement coverage for orthopaedic procedures like knee replacement is also considered to propel the adoption and demand for surgical navigation systems in the near future.

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What are the Key Dynamics in the Surgical Navigation System Market?

The global surgical navigation system market is driven by navigation technology which encompasses surgical planning software, intra-operative imaging, and instrument tracking technologies. 

Surgical navigation systems guide the surgeons to make data-oriented decisions during surgeries, which fosters higher sales of surgical navigation systems.

This surgical navigation system technology is a driver for the global surgical navigation system market and the overall demand for surgical navigation systems.

A major factor that positively affects the sales of surgical navigation systems is the surge of minimally invasive and non-invasive surgeries. 

The minimally invasive and non-invasive surgeries are becoming popular among the masses due to the patient's rapid post-operative recovery with minimal pain, thereby pushing the demand for surgical navigation systems forward.

However, the high cost of surgical navigation systems may deter some hospitals from implementing them, in turn, dwindling the sales of surgical navigation systems.

The neurosurgery segment dominates the global surgical navigation system market due to complicated procedures, and the same expands the sales of surgical navigation systems.

Orthopedic navigation systems accounted for the second-highest surgical navigation system market share in the global surgical navigation system market, closely followed by ENT navigation system.

Sabyasachi Ghosh
Principal Consultant
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Why is North America Leading the Surgical Navigation System Market?

Depending on geographic regions, the global surgical navigation system market is segmented into seven key regions--North America, South America, Eastern Europe, Western Europe, the Asia Pacific Excluding Japan, Japan, and Middle East & Africa.

Due to the mature healthcare sector in the North American countries, North America held a substantial global surgical navigation system market share and is expected to retain the surgical navigation system market share over the forecast period. 

North America dominates the global surgical navigation system market, owing to the well-established medical device industries. 

The presence of key companies operating in the surgical navigation system market striving to augment their surgical navigation system market share has contributed significantly to the increase in sales of surgical navigation systems.

The increased number of surgeries performed in North America is also a primary driver of the region's demand for surgical navigation systems.

Japan and Germany are projected to present a considerable growth rate in the global surgical navigation system market due to the well-established infrastructure and advanced Information Technology (IT) in healthcare.

Who are the Key Players in the Surgical Navigation System Market?

Some of the key players in the global surgical navigation system market are GE Healthcare Ltd., Medtronic Inc., Siemens Healthcare Corporation, Stryker Corporation, B. Braun Melsungen AG, Bausch & Lomb Incorporated, CAScination AG, and Brainlab AG. 

The global surgical navigation system market manufacturers are getting product approvals from the Food and Drug Administration (FDA) market launch of their products to expand their surgical navigation system market share.

The global surgical navigations system market players encourage acquisitions and strategic collaborations to gain competitive advantage, expand into emerging markets and broaden the product portfolio.

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Scope Of Report

Report Attribute 

Details

Growth rate 

CAGR of 6.2% from 2022 to 2032

Base year for estimation 

2021

Historical data 

2015 - 2020

Forecast period 

2022 - 2032

Quantitative units 

Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032

Report coverage 

Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis, 

Segments covered 

Product, application, end use, region

Regional scope 

North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand

Country scope 

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa

Key companies profiled 

GE Healthcare Ltd., Medtronic Inc., Siemens Healthcare Corporation, Stryker Corporation, B. Braun Melsungen AG, Bausch & Lomb Incorporated, CAScination AG and Brainlab AG.

Customization scope 

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. 

Pricing and purchase options 

Avail customized purchase options to meet your exact research needs.?

Frequently Asked Questions

The surgical navigation system market is expected to record a CAGR of 6.2% during the forecast period.

The surgical navigation system market size was worth US$ 940 Mn in 2020.

GE Healthcare Ltd., Medtronic Inc., Siemens Healthcare Corporation, Stryker Corporation, B. Braun Melsungen AG are some of the major players in the market.

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Sabyasachi Ghosh
Principal Consultant
LinkedIn
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Surgical Navigation System Market