The global surgical navigation systems market was valued at US$ 833.6 million in 2019 and is anticipated to witness a compound annual growth rate (CAGR) of 7.3% during the forecast period 2021 – 2028.
A surgical navigation system is an instrument that helps surgeons accurately locate the instruments before projecting the instruments into imaging data. The surgical navigation systems market is one of the rising markets of the healthcare industry because of the increase in surgeries & operations globally. The surgical navigation system is a computer-based system that provides high-quality surgeries & operations owing to its accuracy. High prevalence in the number of ENT, dental, orthopedic, and neurological diseases are the main reasons that mark a certain hike in the global surgical navigation systems market. Moreover, surgical navigation systems are widely used in the observation & treatment of sinus patients. Reduced risks of side effects, minimal lapse, high accuracy rate, and technological advancements are the key reason that drives the global surgical navigation systems market.
Technical advancements in the healthcare industry, incredible accuracy shown by surgical navigation systems, and rising minimally invasive surgical products are marking a certain hike in the market growth. The growth in the number of orthopedic & neurological diseases, high prevalence in the number of ears, nose, throat, and dental problems are also major factors in the growth of the global surgical navigation systems market.
Shortage of specialty hospitals, high cost of the surgical navigation systems, high installation charges, less availability of systems especially in developing regions, and increased risks of side effects are the key reasons that hinder the global surgical navigation systems market growth.
FDA has approved Zimmer Biotech for its ROSA ONE spine navigation system in robot-assisted surgeries which may prove highly beneficial in the global surgical navigation systems market.
The global surgical navigation systems market is bifurcated into: Technology, Application, end-user, and geography. Based on Technology, the global navigation systems market is segmented into electromagnetic navigation systems, optical navigation systems, hybrid navigation systems, and C-T-based navigation systems. On the basis of Application, the global market is further classified into neurosurgery, ENT surgery, cardiac surgery, and orthopedic surgery. Based on end-user, the global surgical navigation systems market is segmented into ambulatory settings and hospitals.
By region, the global surgical navigation systems market is bifurcated into four regions namely North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further classified into U.S., Canada, and Mexico. Europe is further segmented into Germany, the U.K., France, rest of Europe. Asia-Pacific is segmented into China, Japan, India, rest of APAC. Rest of the World covers Central & South America, Middle East and Africa. Currently, North America dominates the global surgical navigation market. The presence of major companies in North America is the key factor for the growth of global surgical systems in North America. APAC to see significant growth over the forecast period. Growing awareness and investments in the healthcare sector paves a way for the global surgical navigation systems market in the APAC region.
The prominent players of the global surgical navigation systems market are – Medtronic, B Braun Melsungen AG, Siemens AG, Stryker, Scopis GmbH, Karl Storz GmbH & Co. KG, Zimmer Biomet Holdings, Inc., and Amplitude Surgical among others.
Market Segmentation and scope of the global surgical navigation systems market.
Rest of the World
Prominent players of the global surgical navigation systems market.