Wilmington, Delaware, United States, July 11, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc.: The worth of the global surgical navigation systems market stood at US$ 0.8 Bn in 2021. The global market is likely to expand at a CAGR of 6.3% during the forecast period, from 2022 to 2031. The surgical navigation system market revenue analysis estimates the market to attain valuation of more than US$ 1.4 Bn by 2031. Orthopedic, neurological, and ENT diseases impact millions of individuals worldwide. There are initiatives underway to increase public understanding of these illnesses. As such, the number of surgical procedures conducted globally has increased, which is likely to offer growth opportunities for the surgical navigation companies.
The use of non-invasive and minimally invasive technologies is anticipated to be driven by the rise in acceptance of minimally invasive procedures, and robot-navigated operations following the height of the COVID-19 outbreak. The introduction of novel products and surgical navigation technology by market players is also likely to drive the global market during the forecast period.
The surgical navigation system market outlook is anticipated to be enhanced by a rise in the acceptance and accessibility of surgical navigation systems as well as an increasing demand for minimally invasive non-surgical items. Surgery performed using navigation assistance reduces the risk of trauma and improves surgical accuracy. Due to benefits including shorter hospital stays, speedier wound healing, and less discomfort, minimally invasive operations are becoming more and more popular throughout the world. Consequently, the need for surgical navigation systems is increasing.
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Key Findings of Market Report
- Key market participants provide fee-per-use services, repair or maintenance assistance, and 24-hour customer support in addition to medical training and operating room help to boost per-unit sales of surgical navigation systems. Consequently, it is anticipated that surgical navigation systems are likely to become more popular all over the world.
- Minimally invasive operations in orthopedic and neurosurgery often employ surgical navigation systems, which is likely to emerge as one of the ongoing trends of the surgical navigation system market. Compared to conventional therapies and treatments, these procedures have a higher rate of recovery, are simpler and more precise to use. This has aided in the widespread acceptance and deployment of surgical navigation systems in hospitals and other healthcare institutions. The growing popularity of robotic or computer-assisted minimally invasive operations is also anticipated to drive market growth.
- With a market share of over 38% in 2021, the orthopedic category led the global surgical navigation systems market. The tendency is likely to persist during the projection period. The need for minimally invasive orthopedic operations to treat spine, knee, and hip injuries is increasing, and orthopedic surgical navigation systems are becoming more regularly used for knee surgeries.
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Global Surgical Navigation Systems Market: Growth Drivers
- In terms of technology, the category of electromagnetic navigation systems accounted for almost 50% of the global market in 2021. The higher accuracy of instrument navigation in the human anatomy provided by electromagnetic technology is the segment's primary driver. The capacity to collect tissue samples from lung masses is made possible by electromagnetic navigation technologies.
- In 2021, the hospitals end-user category accounted for a significant 52% of the global market. This tendency is expected to persist during the predicted period. The hospitals segment is expected to be driven by a rising number of hospitals using sophisticated surgical procedures and a rise in the use of technologically sophisticated equipment.
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Global Surgical Navigation Systems Market: Key Players
Some of the key market players are
- Amplitude Surgical
- Braun Melsungen AG
- Zimmer Biomet Holdings, Inc.
- Siemens Healthineers
- Fiagon GmbH
- Medtronic plc
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Global Surgical Navigation Systems Market: Segmentation
Application
- Neurosurgery
- Orthopedic
- ENT
- Others
Technology
- Optical Navigation Systems
- Electromagnetic Navigation Systems
- Hybrid Navigation Systems
- Others
End-user
- Hospitals
- Ambulatory Surgical Centers
- Others
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