Surgical Navigation Systems Market by Technology (Electromagnetic Navigation Systems, Optical Navigation Systems, Hybrid Navigation Systems, Fluoroscopy-Based Navigation Systems, CT-Based Navigation Systems, and Others), Application (Neurosurgery, Orthopedic, ENT, Dental, and Others), and End User (Hospitals, Ambulatory Surgical Centers, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026869 | Pages: 100 | Industry: Medical Device | Date: Oct 2022 | Type: Global

The market crossed US$ 954.44 million mark in 2022 and is expected to hit US$ 1,563.14 million by 2030, recording a CAGR of 6.36% during the forecast period.

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Increase in orthopedic and neurological surgeries is fueling the growth of surgical navigation systems market

According to the data provided by Journal of Neurosurgery, every year, more than 13.8 million individuals suffer from treatable neurosurgical conditions which require surgery. According to World Health Organization (WHO), approximately 17.1 million people have musculoskeletal conditions worldwide. According to Centers for Disease Control and Prevention (CDC), osteoarthritis affects more than 32.5 million people in United States. According to WHO, one billion people affected worldwide, 50 million suffer from epilepsy and 24 million from Alzheimer and other dementias. Moreover, an estimated 6.8 million people die every year as a result of neurological disorders. This growing prevalence of orthopedic and neurological in population of all ages is fueling the growth of the surgical navigation systems market. These is increase in the number of orthopedic procedures due to increase in geriatric population globally. This fuels the growth of the orthopedic subsegment in application segment of the market.  

Within the report, the market is segmented into technology, application, end user, and geography. Based on the technology, the market is segmented into electromagnetic navigation systems, optical navigation systems, hybrid navigation systems, fluoroscopy-based navigation systems, CT-based navigation systems, and others. By application, the market is categorized into neurosurgery, orthopedic, ENT, dental, and others. Based on end user, the market is divided hospitals, ambulatory surgical centers, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Use of Augmented Reality (AR) in surgical navigation system is empowering futuristic market growth.

Surgical navigation technology allows surgeons to track instrument position precisely and then project the instrument position onto the preoperative imaging data. Surgical navigation system has emerged as one of the most reliable representatives of technology as it continues to transform in safer and less invasive procedures. The equipment for surgical navigation includes a computer workstation, plus hardware for tracking the position of instruments. Augmented reality is used in surgical navigation systems so that the surgery can be viewed on real-time basis. Organs of the patient to be operated is reconstructed in a 3D model from the X-ray CT data that is taken before the surgery. Using this 3D model and augmented reality the surgeon can view the surgery on screen in real-time basis. Due to this, the surgeons can view risk materials, tumors and blood vessels that are not easily visual to naked eyes of surgeon. The companies are focusing to develop such AR systems that are used in surgical navigation systems. For Instance, in June 2022, Novarad has developed VisAR technology which superimposes a 3D hologram of a patient’s imaging data over their body to give surgeons real-time guidance throughout a spine, head or neck procedure. This technology has received clearance from US FDA. Use of AR in surgical navigation system is creating opportunity for growth of surgical navigation systems market.

Increase in number of surgical procedures in hospitals is one of the major factors accelerating the market growth.

The end user for surgical navigation systems are hospitals, ambulatory surgical centers, and others. Hospitals are focusing on developing their infrastructure and technology by introducing surgical navigation systems in their operation theaters. The increase in number of surgeries carried out in hospitals and growing awareness about the benefits of surgical navigation systems in hospitals located in emerging economies is also fueling the growth of hospitals segment. Also, there is increase in number of ambulatory surgical centers due to the demand for minimally invasive surgeries in developed regions leading to growth of ambulatory surgical centers segment.

Recent strategic developments in surgical navigation systems market

The surgical navigation systems market has undergone several significant developments, and a few of these have been mentioned below:

  • In September 2020, Intersect ENT, Inc. has entered into an agreement to acquire Fiagon AG Medical Technologies, a leader in electromagnetic surgical navigation solutions.
  • In September 2021, GE Healthcare has agreed to acquire global intraoperative imaging and surgical navigation company BK Medical for $1.45bn in cash. The acquisition is expected to boost GE Healthcare's growth in precision health.
  • In August 2022, Brain Navi Biotechnology planned to submit its autonomous neurosurgical navigation robot, NaoTrac, for US FDA approval by the end of the year.
  • In December 2021, ClaroNav Inc. announced it has received Chinese regulatory clearance from the National Medical Products Administration (NMPA) to market and sell its Navient Cranial model in China.

 

The surgical navigation systems market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Medtronic PLC, Stryker Corporation, Brainlab AG, B. Braun Melsungen AG, Scopis GmbH, Karl Storz GmbH & Co. KG, Amplitude Surgical, Zimmer Biomet Holdings Inc., and Siemens Healthineers are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Healthcare related service providers
  • End User-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • End User Industry
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Technology
    • Electromagnetic Navigation Systems
    • Optical Navigation Systems
    • Hybrid Navigation Systems
    • Fluoroscopy-Based Navigation Systems
    • CT-Based Navigation Systems
    • Others
  • Application:
    • Neurosurgery
    • Orthopedic
    • ENT
    • Dental
    • Others
  • End User:
    • Hospitals
    • Ambulatory Surgical Centers
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Medtronic PLC
    • Stryker Corporation
    • Brainlab AG
    • B. Braun Melsungen AG
    • Scopis GmbH
    • Karl Storz GmbH & Co. KG
    • Amplitude Surgical
    • Zimmer Biomet Holdings, Inc.
    • Siemens Healthineers

The List of Companies
- Medtronic PLC
- Stryker Corporation
- Brainlab AG
- B. Braun Melsungen AG
- Scopis GmbH
- Karl Storz GmbH & Co. KG
- Amplitude Surgical
- Zimmer Biomet Holdings, Inc.
- Siemens Healthineers

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