At 9.0% CAGR, Europe Surgical Navigation Systems Market is Projected to be Worth US$ 566.76 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the Europe surgical navigation systems market was valued at US$ 283.41 million in 2022 and is expected to reach US$ 566.76 million by 2030, registering a CAGR of 9.0% from 2022 to 2030. Advent of robotic navigation and strategic developments through acquisitions & partnerships are among the critical factors attributed to the Europe surgical navigation systems market expansion.

Mergers and acquisitions have become popular growth strategies for businesses. Strategic acquisitions allow companies to diversify their products and services, expand their market share, reach new markets, gain competitive advantage, and so on. A few strategic developments by companies in the surgical navigation systems market are mentioned below.

In September 2021, GE Healthcare acquired BK Medical for US$ 1.4 billion. The acquisition would enable GE Healthcare to expand its US$ 3 billion business from diagnostics to surgical and therapeutic interventions, along with reinforcing its surgical navigation capabilities with the help of BK Medical's strong product portfolio. This acquisition would help GE Healthcare simplify decision-making for clinicians, equipping them with lucrative insights to deliver fast and more personalized care for patients undergoing surgery.

In September 2020, Intersect ENT, Inc. announced the acquisition of Fiagon AG, a pioneer in electromagnetic surgical navigation solutions, for US$ 60 million in cash. With this acquisition, Intersect ENT intends to expand its portfolio and geographic reach.

On the contrary, product recalls hampers the growth of Europe surgical navigation systems market.

Based on type, the Europe surgical navigation systems market is segmented into optical navigation system, electromagnetic navigation system, hybrid navigation system, fluoroscopy navigation system, CT-based navigation system, and other navigation system. The electromagnetic navigation system segment held 31.5% share of the Europe surgical navigation systems market in 2022, amassing US$ 89.23 million. It is projected to garner US$ 199.40 million by 2030 to expand at 10.6% CAGR during 2022-2030.

In terms of application, the Europe surgical navigation systems market is categorized into orthopedic, ENT, neurology, dental, and others. The orthopedic segment held 32.5% share of the Europe surgical navigation systems market in 2022, amassing US$ 92.15 million. It is projected to garner US$ 194.35 million by 2030 to expand at 9.8% CAGR during 2022-2030. The orthopedic segment is further subsegmented into knee replacement procedures and hip replacement procedures.

By end user, the Europe surgical navigation systems market is bifurcated into hospitals and ASCs. The hospitals segment held 60.3% share of Europe surgical navigation systems market in 2022, amassing US$ 170.96 million. It is projected to garner US$ 363.91 million by 2030 to expand at 9.9% CAGR during 2022-2030.

Based on country, the Europe surgical navigation systems market is categorized into Germany, France, Italy, the UK, Spain, and the Rest of Europe. Germany held 27.5% share of Europe surgical navigation systems market in 2022, amassing US$ 77.79 million. It is projected to garner US$ 178.81 million by 2030 to expand at 11.0% CAGR during 2022-2030.

Key players operating in the Europe surgical navigation systems market are B Braun SE, Medtronic Plc, Siemens Healthineers AG, Stryker Corp, Zimmer Biomet Holdings Inc, Brainlab AG, CASCINATION, Corin Group l, and GE HealthCare Technologies Inc, among others.

• In July 2023, Stryker, announced launching of "Ortho Q Guidance System" that enables advanced surgical planning and guidance for hip and knee procedures, easily controlled by the surgeon from the sterile field. The system combines new optical tracking options through a designed, state-of-art camera with sophisticated algorithms of the newly launched Ortho Guidance software that delivers surgical planning and guidance capabilities.
  
  
• In September 2022, Stryker, announced launching of "Q Guidance System" intended for spine applications and this system combines new optical tracking options that are provided by a redesigned, state-of-art camera with sophisticated algorithm for the newly launched Spine Guidance Software that delivers more surgical planning and navigation capability than before.
  
  

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