The global surgical navigation systems market size is expected to reach USD 1.25 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 7.0% during the forecast period. Rising prevalence of target disorders such as ENT disorders, brain cancer, and orthopedic degenerative diseases is expected to propel the market growth in near future. Moreover, increasing geriatric population base, which is more prone to degenerative disorders of joints, is also likely to have a major impact on the market demand. Osteoarthritis and osteoporosis are the most common disorders in the population aged over 65 years.
As per International Osteoporosis Foundation, total number of hip fractures is expected to increase from 1,433 million in 1950 to 5,395 million in 2050. Furthermore, increasing cases of brain cancer is also contributing the market growth. According to the Central Brain Tumor Registry of the United States (CBTRUS), the incidence rate of all non-malignant brain, primary malignant, and other CNS tumors was 22.64 cases per 100,000 in 2016. Over 78,980 new cases of these tumors are anticipated to be diagnosed in the U.S. in 2018, thereby propelling the demand for surgical navigation systems.
The demand for minimally invasive procedures is increasing across the world. Surgical navigation systems are provide better accuracy and precision in diagnosis and help determine correct implementation of plans during surgery, thereby aiding in minimally invasive procedures with improved outcome. It offers visual imaging at every stage of the surgery, thereby allowing for modification of plans during surgery according to intra-operative findings. It is also cost-effective in joint replacement procedures, as very few patients require revision after a one-time procedure. These factors are also expected to boost the demand for these systems over the forecast period.
Browse Research Report on Surgical Navigation Systems Market:
Further key findings from the study suggest:
- Neurology segment held the largest share of a little over 37.0% in 2016. This growth was attributed to the early implementation of surgical navigation in this branch and associated advantages of SNSs that help to perform complex surgeries with increased accuracy
- ENT segment is expected to register at a lucrative CAGR of 8.0% over the forecast period. Rising prevalence of ENT disorders and increasing adoption of SNSs in ENT surgeries are the key growth-driving factors for the segment
- On the basis of technology, the electromagnetic SNSs segment held the largest share of the market owing to its low cost and ease of use
- The optical SNSs segment is expected to witness an exponential CAGR of 7.9% owing to its advantages over electromagnetic SNSs, such as precise and accurate navigation
- North America held the largest share in the global market due to the presence of major companies and target population base. Shifting trend of surgeries from hospitals to Ambulatory Surgical Centers (ASCs) would drive the region
- Most of the key companies are engaged in various strategies, such as product or technology development, for better market penetration. For instance, in 2017, Medtronic launched StealthStation ENT, a new SNS for ENT surgeries, thereby expanding its product portfolio.
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Grand View Research has segmented the global surgical navigation systems market on the basis of application, technology, end use, and region:
Surgical Navigation Systems Application Outlook (Revenue, USD Million, 2014 - 2025)
- ENT
- Orthopedic
- Neurology
- Dental
- Others
Surgical Navigation Systems Technology Outlook (Revenue, USD Million, 2014 - 2025)
- Electromagnetic
- Optical
- Others
Surgical Navigation Systems End-use Outlook (Revenue, USD Million, 2014 - 2025)
- Hospitals
- Ambulatory Surgical Centers
Surgical Navigation Systems Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Switzerland
- France
- Spain
- Italy
- Belgium
- Austria
- Netherlands
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- Middle East and Africa (MEA)
- South Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and healthcare.
For more information: www.grandviewresearch.com
