The surgical navigation system market is expected to grow at a compound annual growth rate of 6.2% by 2030, reaching a value of US$ 1,700 Mn.
Surgical Navigation Systems is a dependable technology that has been developed to make surgeries safer and less invasive when compared to surgeries without Surgical Navigation Systems.
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Navigation during surgery is a fantastic technology that is currently being used in medical devices. Surgical Navigation Systems have sped up technical procedures and paved the way for more complex procedures.
Surgical Navigation Systems target the anatomy to be operated on and guide implant placement in a safe manner to the specific anatomy of the human body. Surgical Navigation Systems serve as information hubs during operations.
A surgical navigation system is critical for accurate anatomy visualisation and surgery planning in a virtual environment. Surgical Navigation Systems help to reduce the risks of surgery.
Surgical Navigation System Market: Drivers & Restraints
The navigation technology, which includes surgical planning software, intra-operative imaging, and instrument tracking technologies, drives the global surgical navigation system market.
Surgical Navigation Systems assist surgeons in making data-driven decisions during surgeries. This Surgical Navigation System technology is propelling the global Surgical Navigation Systems market forward.
The rise in minimally invasive and non-invasive surgeries is a major factor that could hamper the growth of the global Surgical Navigation Systems market.
Because of the rapid post-operative recovery with minimal pain to the patient, minimally invasive and non-invasive surgeries are gaining popularity among the general public.
Surgical Navigation System Market: Overview
Computer-aided surgery or computer-assisted intervention are other terms for Surgical Navigation System. The navigation system must perform anatomical imaging, which leads to image analysis.
The navigation system assists in diagnosis and surgery simulation based on the image generated. Due to the complexity of the procedures, the neurosurgery segment dominates the global surgical navigation system market.
The global surgical navigation system market was led by orthopaedic navigation systems, which were closely followed by ENT navigation systems.
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Surgical Navigation System Market: Region-wise Outlook
The global Surgical Navigation System market is divided into seven key regions based on geography: North America, South America, Eastern Europe, Western Europe, and Asia Pacific. Japan, Japan, and the Middle East and Africa are excluded.
North America held a significant market share in the global surgical navigation system market due to the mature healthcare sector in North American countries and is expected to retain the share over the forecast period.
Because of their well-established infrastructure and advanced Information Technology (IT) in healthcare, Japan and Germany are expected to exhibit significant growth rates in the global surgical navigation system market.
Surgical Navigation System Market: Key Players
Some of the key players in the global Surgical Navigation System are GE Healthcare Ltd., Medtronic Inc., Siemens Healthcare Corporation, Stryker Corporation, B.Braun Melsungen AG, Bausch & Lomb Incorporated, CAScination AG and Brainlab AG.
Manufacturers of global surgical navigation systems are involved in obtaining product approvals from the Food and Drug Administration (FDA) and other regulatory authorities in order to market their products.
Acquisitions and strategic collaborations are being encouraged by global surgical navigations system market participants in order to gain a competitive advantage, expand into emerging markets, and broaden the product portfolio.
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It also includes projections based on an appropriate set of assumptions and methodologies. The research report categorises analysis and information into market segments, geographies, types, technology, and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Key Segments
By Technology:
- Electromagnetic Navigation Systems
- Hybrid Navigation Systems
- Optical Navigation Systems
- Fluoroscopy-based Navigation Systems
- CT-based Navigation System
- Others
By Application:
- Neurosurgery
- Orthopedic Surgery
- ENT surgery
- Cardiac surgery
- Others
By End Use:
- Hospitals and Physician Practices
- Ambulatory Surgery
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