The Brainy Insights launched a study titled Surgical Navigation Systems Market Size by Application (Spinal Navigation Systems, Orthopedic Navigations Systems, Neurosurgery Navigation Systems, Cardiac Navigation Systems, Dental Navigation Systems, ENT Navigation Systems, & Others), Technology (Electromagnetic Navigation Systems, Optical Navigation Systems, Fluoroscopy Navigation Systems, CT Based Navigation Systems, Hybrid Navigation Systems, & Others), End User, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030
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The global surgical navigation systems market is expected to grow from 1.1 billion in 2021 to USD 1.9 billion by 2030, at a CAGR of 6.8% during 2022-2030. Increasing incidence of chronic diseases, growing geriatric population, the prevalence of sedentary lifestyle, product innovations, increased government spending on healthcare infrastructure, as well as increased public awareness about the available treatments are driving the surgical navigation systems market; the requirement to improve treatment services and device quality for clients is likely to provide an impetus for innovative surgical navigation systems and its applications.
The neurosurgery navigation systems segment dominated the market with a market value of around 0.2 billion in 2021.
The application segment is divided into spinal navigation systems, orthopedic navigations systems, neurosurgery navigation systems, cardiac navigation systems, dental navigation systems, ENT navigation systems, & others. The neurosurgery navigation systems segment dominated the market with a market value of around 0.2 billion in 2021. The increased incidence of neurological disorders & brain tumors, technological advancements in surgical navigation systems, and increased government expenditure on healthcare infrastructure will drive the market for the neurosurgery navigation systems segment.
The optical navigation systems segment is expected to grow at the fastest CAGR of 7.5% over the forecast period.
The technology segment is divided into electromagnetic navigation systems, optical navigation systems, fluoroscopy navigation systems, CT-based navigation systems, hybrid navigation systems, & others. Over the forecast period, the optical navigation systems segment is expected to grow at the fastest CAGR of 7.5%.
The hospitals' segment dominated the market, accounting for around 0.5 billion global revenue.
The end-user segment is divided into hospitals, clinics, physician practices & ambulatory settings, & others. The hospitals' segment dominated the market, accounting for around 0.5 billion global revenue. Hospitals are the most well-known and comfortable institutions for an average individual when seeking treatments options compared to the other segments. The government's initiatives to provide treatments with favorable reimbursement policies have become affordable and accessible to middle-class and lower-class citizens.
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Regional Segmentation Analysis:
The market is analyzed based on five regionsNorth America, Europe, Asia Pacific, South America, and the Middle East and Africa. The Asia Pacific is expected to be the largest market during the forecast period. The surgical navigation systems market in the Asia Pacific has been expanding rapidly. China dominates the surgical navigation systems market in the Asia Pacific. According to the world aging population report of 2019 published by the United Nations, 703 million people aged 60 and above. This figure is estimated to reach 1.5 billion by 2050. The prevalence of orthopedic diseases, cardiovascular, respiratory & other chronic diseases is high in the geriatric population. China has a significant share of the global agingpopulation owing to the one-child policy in the past decades. Surgical procedures are often chosen to treat the diseases & disorders mentioned above, and an increase will follow an increase in demand for surgeries in surgical navigation systems. Surgical navigation systems are the new age state of the art devices that can help treat such disorders with faster recovery, less discomfort & pain, which will propel the market's growth. Increasing accessibility of surgical navigation systems needs to become a priority for all relevant institutions.
Competitive Analysis:
The major players in the market include Medtronic PLC, Brainlab AG, Siemens Healthineers, Stryker Corporation, Amplitude Surgical AG, Zimmer Biomet Holdings, B. Braun Melsungen AG, Scopis GmbH, Fiagon AG Medical Technologies, and Karl Storz SE & Co. KG among others.
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