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The global surgical navigation systems market size is expected to reach USD 23.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.2% from 2022 to 2030. The growing geriatric population along with the rising prevalence of brain cancer, orthopedic degenerative, and ENT among other target disorders and diseases is expected to propel the demand for surgical navigation systems (SNSs). Aging is considered the greatest risk factor for the development of degenerative disorders of joints; such as osteoporosis. The rising geriatric population is expected to serve as a high impact rendering driver for the market.
Growth, Share, Trend, Outlook & Forecast 20222030 Surgical Navigation
Surgical Systems Market Analysis, Size, Systems Market Growth & Trends
Osteoarthritis and osteoporosis are the most common disorders in the population aged over 65 years. The growing prevalence of these disorders possesses an increasing economic burden on many countries. As per International Osteoporosis Foundation, the total number of hip fractures is expected to reach 5,395 million by 2050. Facing the outbreak of COVID 19, elective procedures have significantly impacted the surgical navigation system market. As restrictions resulted in delays to a number of procedures. Currently, most nations have elevated restrictions on elective surgery. As a result, hospital spearheads across the world have been rushing to implement ramp up strategies.
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Surgical navigation systems are instrumental in providing better accuracy and precision in diagnosis and determining the correct implementation of plans during surgery, thereby aiding in minimally invasive procedures with improved patient outcomes. They offer visual imaging at every stage of the surgery thereby allowing modification of the plan during the surgical procedure according to intraoperative findings. It is also cost effective in joint replacement procedures as very few patients require revision after a one time procedure. These associated advantages are expected to boost the product demand over the forecast period.
Surgical Navigation Systems Market Report Highlights
The neurology segment held the largest revenue share of 37.0% in 2021, owing to the early implementation of surgical navigation in this branch and the advantages associated with SNSs that aid the surgeons to perform complex surgeries with increased accuracy
Key players in the market are engaged in various strategies such as new product developments for better market penetration. For instance, in June 2021, DePuy Synthes in Australia has entered an exclusive contract with Navbit start up to launch the Navbit Sprint into operating theatres across the nation. This is a new navigation system utilizing smart sensor technology to support physicians in positioning the acetabular cup thereby, strengthening their product portfolio
The ENT segment is expected to expand at a lucrative CAGR of 15.3% over the forecast period, owing to the rising prevalence of ENT disorders along with the increasing adoption of ENT surgeries
Based on technology, the electromagnetic SNSs segment held the largest revenue share in 2021, owing to the low cost and ease of use of the technology. Besides, the rise in the prevalence of diseases among the geriatric population and increasing technological advancements in devices further drive segment growth
The hospitals segment was the largest revenue generating segment of the market in 2021. Hospitals are an integral part of the healthcare industry and corporations make significant efforts, both in terms of revenue & marketing strategies, to endorse their product/services in hospitals
Surgical Navigation Systems Market Segmentation
Grand View Research has segmented the global surgical navigation systems market based on application, technology, end use, and region:
Surgical Navigation Systems Application Outlook (Revenue, USD Million, 2017 2030) ENT Orthopedic
Neurology Dental Others Surgical Navigation Systems Technology Outlook (Revenue, USD Million, 2017 2030) Electromagnetic Optical Others For Requesting a Sample Copy of This Report, Please Visit @ market/request/rs1https://www.grandviewresearch.com/industry-analysis/surgical-navigation-systemsSurgical Navigation Systems End-use Outlook (Revenue, USD Million, 2017 - 2030) Hospitals Ambulatory Surgical Centers Surgical Navigation Systems Regional Outlook (Revenue, USD Million, 2017 - 2030) North America o U.S. o Canada Europe o U.K. o Germany o France o Italy o Spain Asia Pacific o China o India o Japan o Australia o South Korea Latin America o Brazil
o Mexico o Argentina Middle East and Africa o South Africa o Saudi Arabia List of Key Players in Surgical Navigation Systems Market B. Braun Melsungen AG Stryker Medtronic Corin Siemens Healthineers Smith+Nephew Johnson & Johnson Services, Inc. (DePuy Synthes) Zimmer Biomet KARL STORZ SE & Co. KG Amplitude Surgical Why Purchase this Report? A strong research methodology was followed to collect data for the report. The data collected in this way are subjected to several quality checks to provide the best quality. The report provides a holistic view of the competitive scenario Surgical Navigation Systems Market. The latest product launches, along with technological changes and developments, are included in the report. The data analysis in the report will help you understand the Surgical Navigation Systems Market dynamics projected from 2022 2030. The Report has a vast data store, so it can accommodate your custom needs as well. Highlights Points of the Market: The latest information on how the market is evolving to formulate their sales and marketing strategies. This Market report has been created to provide its readers with up to date information and analysis to uncover emerging opportunities for growth.
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Grand View Research is a full time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.