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Product description:Global surgical navigation system market was valued US$ 750.6 Bn in 2017 and is expected to reach US$ 1460.2 Bn by 2026, at CAGR of 8.67% during forecast period.
Growth in geriatric population and increasing occurrence of target diseases like osteoarthritis, brain cancer, and ENT disorders are projected to boost the demand for surgical navigation systems (SNSs) during forecast period. Technological developments in minimally invasive surgeries and introduction of new products is also estimated to drive surgical navigation systems market.
Neurology segment is holding the largest share of surgical navigation systems market as it was the first surgical branch to implement navigation and incorporate it successfully in clinical routine. Neurology includes treatment of brain cancer and other CNS disorders, which demand accurate diagnosis and accurate operative procedures. This is possible with the use of SNSs. Navigation is offering accurate localization of dynamic anatomic structures, like cranial nerves or carotid artery, mostly if they are deep in the tumor. Also, it offers real-time display of a tracked instrument.
Recently, surgical navigation systems have gained significant pull, because of its capacity to reduce the harrowing risk and improve surgical accuracy. Additionally, technological advancement in surgical procedures coupled with support of new products for different applications is driving the growth of surgical navigation systems market. As, in 2018, Naviswiss, a medical technology company, received CE mark for its miniaturized surgical navigation for orthopedic surgeons. Also, in 2017, ClaroNav received FDA authorization for marketing and sell of NaviENT, computer aided navigation system in US.
Market players are implementing several inorganic growth strategies for holding the leading position in surgical navigation systems market. As, in 2016, Fiagon GmbH, a manufacturer of clinical navigation systems, with Beta Klinik GmbH, an international private clinic, opened conference center for navigation neurosurgery in Bonn. Fiagon technology supports surgeon by visualizing composite structures of brain and spine. Also, commercialization and investment by company plays important role in growth of market.
surgical navigation system market
Because of the mature healthcare sector in North American countries, North America is holding an extensive market share in global surgical navigation system market and it is expected to hold the share over the forecast period. Countries like Japan and Germany are expected to present significant growth rate in the global surgical navigation system market because of the well-conventional infrastructure and advanced Information Technology (IT) in healthcare. North American market is at leading position owing to the high occurrence of ENT disorders, increasing adoption of minimally invasive surgeries, government funding for development of surgical navigation systems, rising adoption by ambulatory settings, and increasing regulatory approvals. On the other hand, Asia is estimated to be the fastest-growing regional segment during the forecast period.
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The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding surgical navigation system market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in surgical navigation system market.
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