Dublin, Oct. 06, 2023 (GLOBE NEWSWIRE) -- The "Global Neuronavigation Systems Market Report and Forecast 2023-2031" report has been added to ResearchAndMarkets.com's offering.
The global Neuronavigation System market is experiencing robust growth, poised to reach a value of USD 4.58 billion by 2031, driven by the increasing prevalence of neurological conditions worldwide. In 2022, the market achieved a value of USD 2.34 billion, with a projected Compound Annual Growth Rate (CAGR) of 7.7% during the forecast period from 2023 to 2031.
Neuronavigation System Market Overview:
Neuronavigation systems, also known as surgical navigation systems, have emerged as advanced medical tools in neurosurgery and other surgical procedures. These systems integrate cutting-edge imaging technology, including magnetic resonance imaging (MRI) and computed tomography (CT), with real-time tracking and guidance systems to assist surgeons during complex surgeries involving the nervous system.
Key Market Insights:
- Prevalence of Neurological Conditions: The rising prevalence of neurological disorders, such as Parkinson's disease, Alzheimer's disease, strokes, and brain tumors, is a primary driver of market growth. The elderly population, more susceptible to these conditions, further fuels demand for neuronavigation systems.
- Technological Advancements: Innovations like artificial intelligence, machine learning, real-time imaging, and augmented reality are revolutionizing neuronavigation systems, improving surgical precision, reducing operative time, and enhancing patient safety.
- Market Dynamics: North America leads the market due to advanced healthcare infrastructure and key market players, followed closely by Europe. The Asia Pacific region is expected to witness the fastest growth, driven by increasing healthcare spending and improving healthcare infrastructure.
- Product Types: Optical neuronavigation systems dominate the market due to their high accuracy and real-time feedback capabilities, while electromagnetic systems are gaining traction.
- Challenges: High system costs and the need for skilled professionals to operate them pose challenges, particularly in developing regions.
Market Segmentation:
- Product: Optical Systems, Electromagnetic Systems
- Application: Neurosurgery, ENT Surgery, Maxillofacial Surgery, Spinal Surgery, Others
- End User: Hospitals, Ambulatory Surgery Centers, Others
Key Market Players:
- Stryker
- BrainLAB AG
- Brainbox Ltd
- Medtronic
- 7D Surgical System
- B. Braun Melsungen AG
- Siemens Healthineers
- Zimmer Biomet Holding Inc
- Brainlab AG
- Scopis GmbH
Conclusion:
The Neuronavigation System market is on a promising growth trajectory, driven by technological advancements, increasing disease prevalence, and the growing acceptance of minimally invasive procedures. Challenges, such as high costs and the need for skilled personnel, remain but are expected to be addressed as the market continues to expand.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 140 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value (USD) in 2023 | $2.52 Billion |
| Forecasted Market Value (USD) by 2031 | $4.58 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ipy994
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