At 7.2% CAGR, South & Central America Surgical Navigation Systems Market is Projected to be Worth US$ 135.72 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the South & Central America surgical navigation systems market was valued at US$ 77.83 million in 2022 and is expected to reach US$ 135.72 million by 2030, registering a CAGR of 7.2% from 2022 to 2030. Advent of robotic navigation and strategic developments through acquisitions and partnerships are among the critical factors attributed to the South & Central America surgical navigation systems market expansion.

Surgical robotic navigation provides benefits to surgeons in precisely aligning surgical instruments and screws. Additionally, the real-time visualization of instrument positioning and imaging compatibility enables high accuracy for surgeons while performing procedures through the navigation system. Several top companies plan to launch innovative robotic surgical navigation platforms. Globus Medical offers a Multifunctional Robotics+Navigation platform designed to improve surgical accuracy and optimize patient care with the use of robotics and navigation. Axis Spine Center's surgical navigation robot is connected to a camera with which the robot can process the view captured by the camera using the CT image in real time. The robot can also change position upon patients' movement to ensure a precise placement of the surgical instrument. Despite developments in robotic surgical navigation, further studies are necessary to determine the efficacy, efficiency, and safety of new combined surgical robotic navigation systems/platforms.

On the contrary, product recalls hampers the growth of South & Central America surgical navigation systems market.

Based on type, the South & Central America 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 South & Central America surgical navigation systems market in 2022, amassing US$ 24.50 million. It is projected to garner US$ 48.12 million by 2030 to expand at 8.8% CAGR during 2022-2030.

In terms of application, the South & Central America surgical navigation systems market is categorized into orthopedic, ENT, neurology, dental, and others. The orthopedic segment held 32.5% share of the South & Central America surgical navigation systems market in 2022, amassing US$ 25.27 million. It is projected to garner US$ 46.56 million by 2030 to expand at 7.9% CAGR during 2022-2030. The orthopedic segment is further subsegmented into knee replacement procedures and hip replacement procedures.

By end user, the South & Central America surgical navigation systems market is bifurcated into hospitals and ASCs. The hospitals segment held 60.4% share of South & Central America surgical navigation systems market in 2022, amassing US$ 47.01 million. It is projected to garner US$ 87.04 million by 2030 to expand at 8.0% CAGR during 2022-2030.

Based on country, the South & Central America surgical navigation systems market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil held 60.5% share of South & Central America surgical navigation systems market in 2022, amassing US$ 47.09 million. It is projected to garner US$ 85.34 million by 2030 to expand at 7.7% CAGR during 2022-2030.

Key players operating in the South & Central America surgical navigation systems market are B Braun SE, Medtronic Plc, Siemens Healthineers AG, Stryker Corp, Zimmer Biomet Holdings Inc, Corin Group, 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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