According to a recently published report on“Surgical Navigation System Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the surgical navigation systemmarket in terms of market segmentation by technology, by application, by end use and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The surgical navigation system market segmented on the basis of technology into hybrid navigation, optical navigation, fluoroscopy based and electromagnetic navigation; by application into neurosurgery navigation systems, orthopedic navigation systems, dental navigation systems, cardiac navigation systems and others; by end use into hospitals, physician practice, ambulatory surgical centers and others and by region. The surgical navigation system market is anticipated to record a CAGR of 7.4% over the forecast period i.e. 2019-2027.
Surgical navigation is the branch of science that focuses on the method to guide surgery with the help of medical images as a guidance map. Surgical navigation systems include utilization of imaging modalities during the surgical procedure to enable minimally invasive surgeries.
The surgical navigation system is designed to provide improved intraoperative feedback and alignment validation to surgeons during surgical procedures. Innovative technologies such as minimally invasive surgery and robotic navigated surgery are being rapidly adopted.
On the basis of regional analysis, the surgical navigation systemmarket is segmented into five major regions North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is expected to capture the largest share of the surgical navigation systems market over the forecast period.Increasing advancements in healthcare infrastructure coupled with increase in consumer spending on healthcare will propel the growth of the surgical navigation systems market.
Rising Geriatric Population
Increasing geriatric population,results in a rising incidence rate of degenerative disorders of joints.Further, rising prevalence of disorders such as ENT disorders, brain cancer, and orthopedic degenerative diseases is expected to result in an increasing demand for efficient resources to perform the surgical procedures. Such factors are anticipated to boost the demand for surgical navigation systems over the forecast period.
Technical Advancements
Technical advancements in surgical navigation systems are expected to play a key role in escalating the demand. For instance, Scopis GmbH is developing holographic navigation platform that can be supported by using augmented reality. Such innovations would enable surgeons to see more than just the image of endoscope on the monitor. Increasing R&D investment coupled with advancementin technology is expected to fuel the surgical navigation system market growth.
However, stringent government regulations coupled with high cost of the product are expected to create hurdles for the market growth. Moreover, product safety concerns associated with the systems may stagnate the industry growth further.
This report also provides the existing competitive scenario of some of the key players of the surgical navigation systemmarket which includes company profiling of Cutera Inc., NeuroLogica Corp., Aesculap Implant Systems, LLC, 7D Surgical, Claronav, Inliant Dental Technologies Inc., Stryker, Medtronic plc, B. Braun Melsungen AG, GE Healthcare, Siemens Healthineers (Siemens AG) and other prominent players.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the surgical navigation systemmarket that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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