Surgical navigation systems assist surgeons to perform complex surgeries accurately by providing real-time anatomical images and location of surgical instruments inside the patient's body during a medical procedure. Advancements in medical robotics and navigation technologies allow for complex surgeries to be performed with higher precision and in a minimally invasive manner.
The global Surgical Navigation System Market is estimated to be valued at US$ 1.00 Bn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing adoption of robot-assisted surgeries is one of the key trends fueling the growth of the surgical navigation system market. Surgical robots offer various advantages over traditional open surgeries such as enhanced visualization, increased dexterity and range of motion, advanced instrumentation, miniaturization, and improved ergonomics. A rise in the number of robotic-assisted surgeries performed globally is expected to boost the demand for surgical navigation systems over the forecast period.
Segment Analysis
The global surgical navigation system market is dominated by the orthopedic navigation sub segment. Orthopedic navigation systems account for over 45% of the market share as they help perform joint replacement surgeries like knee and hip replacement with high accuracy. They allow surgeons to navigate instruments inside joints and place implants with minimal margins of error through precise image guidance during surgery. This has helped reduce risk of complications and improved clinical outcomes for patients undergoing orthopaedic procedures.
Key Takeaways
The global Surgical Navigation System Market Size is expected to witness high growth in the forecast period due to rising numbers of orthopedic and neurosurgeries globally coupled with increasing adoption of minimally invasive surgical procedures.
Regional analysis: North America currently dominates the global surgical navigation system market owing to rapid increase in aging population suffering from orthopedic conditions like arthritis. Moreover, presence of advanced healthcare infrastructure and favorable reimbursement policies are encouraging higher adoption of navigated surgeries among providers. Asia Pacific is expected to be the fastest growing region in the surgical navigation system market led by countries like China, India and Japan. Rising medical tourism coupled with growing healthcare expenditure is supporting market growth in the region.
Key players operating in the surgical navigation system market are Shape Memory Medical Inc., Terumo Corp, Penumbra Inc., Abbott Laboratories, Stryker Corporation, Cook Medical, Medtronic PLC, Merit Medical Systems Inc., Johnson and Johnson (Cerenovus), and Boston Scientific Corporation, among others. Shape Memory Medical recently launched new navigated products for minimally invasive spine surgery to strengthen its portfolio. Meanwhile, Abbott has been focusing on acquisitions to enhance its offerings for neurovascular procedures.
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Surgical Navigation System Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the surgical navigation system market include Fiagon GmbH, B. Braun Melsungen AG, Medtronic, Stryker, OMNI, Brainlab AG, Siemens Healthineers, CAScination AG, Scopis GmbH, DePuy Synthes, and Zimmer Biomet.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Surgical Navigation System Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/surgical-navigation-system-market/download-sampleMarket DynamicsImproving technologies surrounding medical procedures has contributed to the popularity and the significant market growth of surgical navigation systems.
The increase in the geriatric population and health disorders like cancer, osteoarthritis, ENT ailments, etc., is expected to bring about a significant boost for the market.
Recent years have seen a substantial rise in the demand for minimally invasive surgeries, proving to be economically viable as it requires shorter stays in the hospital following the procedure.
