Surgical Navigation Systems Market Analysis Report By Application, By Technology, By End Use And Segment Forecasts From 2020 To 2027

Synopsis

With reference to the report published, the global surgical navigation systems market size was prized by USD 833.48 million in 2019. It is estimated to witness a 7.2% CAGR during the period of the forecast.

Drivers

Growing elderly people, together with increasing incidences of the sicknesses like brain cancer, ENT, and osteoarthritis is estimated to boost the expansion of the market.

The increasing request for minimally invasive surgical treatments is one more factor, accountable for raising the implementation of these procedures, during the period of the forecast. Minimally invasive surgical treatments include minor cut wounds, causing earlier recovery, abridged stay in the hospital, in addition to better comfort for the patients. In addition, these treatments are cost-effective, due to the lesser stay period in the hospital. The quantity of blood loss for the duration of minimally invasive surgical treatment is smaller as compared with the conventional method of open surgical procedures. Scientific progressions in these procedures, as well as the launching of innovative products, are anticipated to additionally push the progress of the surgical navigation systems market.

As stated by the United States Census Bureau, in 2014, approximately 46.2 million citizens were in the age group of 65 years and over, in the U.S. This figure is expected to touch 98 million, by 2060. An exceptional growth in the populace, having age 60 years and over is expected to augment the requirement for hip as well as knee replacement surgical procedures. This factor is estimated to certainly impact the enlargement of the market.

In addition, the existence of an encouraging regulatory arrangement is furthermore expected to power the general expansion of the demand and the market. Increasing compensation coverage for orthopedic actions, like the replacement of the knee, is projected to stimulate the implementation of these systems via surgical experts in the neighboring future.

Effect of Covid-19

Due to the increasing infection of Covid-19, the fear about the scarcity of necessary life-saving apparatuses, as well as additional crucial remedial provisions, so as to avert the distribution of this pandemic, as well as offer the best possible care to the infected patients moreover broadens. The ventilators perform such as the fundamental preference of the treatment for the Covid-19 patients, those might need essential treatment. Furthermore, there is an earnest requirement for speeding up the procedure of manufacturing a variety of test kits.

End-Use Insights

The Ambulatory Surgical Centers (ASC) division is likely to observe substantial enlargement during the forecast period. Greater acceptance of Ambulatory Surgical Centers in the urbanized nation-state, inadequate financial resources, and scarcity of hospital beds are the factors estimated to increase the progress. The compensations of day-care surgical procedures consist of a smaller waiting list, speedy discharge, abridged procedural charge, and superior competence. These factors are anticipated to additionally power the progress of the surgical navigation systems market.

The hospital's sector retained the leading market share, in 2019 and is expected to remain leading in the market, throughout the forecast period. Furthermore, hospitals offer a huge assortment of treatment alternatives, regarding orthopedic procedures and pain management. Due to these factors, the sector is likely to go on to observe stable expansion during the near future.

Application Insights

In 2019, the neurology sector held the principal share of the market, since it was the primary surgical division, to put into practice the navigation and incorporate it effectively in the clinical schedule.

Neurology comprises the treatment of brain cancer, along with a variety of complaints of the Central Nervous System (CNS). It requires accurate diagnosis as well as perfect actions. This is workable with the help of surgical navigation systems.

On account of the increasing occurrence of ENT complaints, the Ear, Nose, and Throat (ENT) surgical treatment sector is estimated to develop profitably, during the period of the forecast.

Technology Insights

In 2019, electromagnetic (EM) surgical navigation systems seized the leading share of the market. This is credited to the easiness of utilization, superior line of vision, and reasonably priced technology, in contrast to optical navigation.

These systems were launched, prior to the optical and mix surgical navigation systems. Therefore, they possess a better rate of penetration. The sector is expected to go on holding the leading share of the market in the approaching years. The optical sector is estimated to observe, substantial enlargement, above the period of the forecast.

Regional Insights

The Asia Pacific is projected to observe, substantial development during the period of the forecast. The maximum enlargement speed of the local market can be accredited to the rising population of aged people, increasing alertness about healthcare along budding financial systems.

Elderly people are moreover susceptible to orthopedic complaints, thus there are vast targeted inhabitants, within the region. India, Japan, and China are the most important regional suppliers. Furthermore, important untouched openings, increasing attention of the companies to increase their existence, within this region, and incessant R&D actions by the major players of the market for improved inventive products, are the factors expected to power the development of the surgical navigation systems market.

In 2019, North America held the main share of the revenue. The increasing occurrences of neurological, orthopedic, and ENT complaints are estimated to impel the progress of the regional market.

Growth in the figure of the patients thus enhances the requirement for the surgical navigation systems; in that way, it enhances the local demand for the surgical navigation systems. An increasing inclination for the ambulatory surgery centers, together with an increasing amount of the procedures, creating a load on the procedure capacity at hospitals, this is the most important factor for the development.

Companies

The important companies are caught up in a variety of approaches such as development plans, delivery contracts, and the development of innovative products, to increase their penetration in the market. For example, Stryker record a two-way contract with Wright Medical, in November 2019 in order to improve its position in the global market.

Zimmer Biomet acknowledged the U.S. Food and Drug Administration (FDA) 510(k) permission for its ROSA ONE Spine System in robotically helped surgical treatments, in March 2019. Surgical navigation system possesses the capability of concurrent tracking of the patients as well as 3D intra-operative software for the patients. Due to such proposals, aggressive competition in this business is expected to be soaring in the near future.

Some of the companies for surgical navigation systems market are:

    • Zimmer Biomet
    • Scopis GmbH
    • Siemens Healthineers
    • OMNI
    • Medtronic
    • Fiagon GmbH
    • DePuy Synthes
    • CAScination AG
    • Brain lab AG
    • Stryker
    • B. Braun Melsungen AG

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insight has segmented the global surgical navigation systems market report size based on application, technology, end-use, and region:

• Application Outlook (Revenue, USD Million, 2016 - 2027)
    • ENT
    • Orthopedic
    • Neurology
    • Dental
    • Others

• Technology Outlook (Revenue, USD Million, 2016 - 2027)
    • Electromagnetic
    • Optical
    • Others

• End-use Outlook (Revenue, USD Million, 2016 - 2027)
    • Hospitals
    • Ambulatory Surgical Centers

• Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • Switzerland
        • France
        • Spain
        • Italy
        • Belgium
        • Austria
        • Netherlands
    • The Asia Pacific
        • Japan
        • China
        • India
    • Latin America
        • Brazil
        • Mexico
    • Middle East and Africa
        • South Africa