Surgical Navigation Systems Industry Overview
The global Surgical Navigation Systems Market size is expected to reach USD 23.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.2% from 2022 to 2030. The growing geriatric population along with the rising prevalence of brain cancer, orthopedic degenerative, and ENT among other target disorders and diseases is expected to propel the demand for surgical navigation systems (SNSs). Aging is considered the greatest risk factor for the development of degenerative disorders of joints; such as osteoporosis. The rising geriatric population is expected to serve as a high-impact rendering driver for the market.
Osteoarthritis and osteoporosis are the most common disorders in the population aged over 65 years. The growing prevalence of these disorders possesses an increasing economic burden on many countries. As per International Osteoporosis Foundation, the total number of hip fractures is expected to reach 5,395 million by 2050. Facing the outbreak of COVID-19, elective procedures have significantly impacted the surgical navigation system market. As restrictions resulted in delays to a number of procedures. Currently, most nations have elevated restrictions on elective surgery. As a result, hospital spearheads across the world have been rushing to implement ramp-up strategies.
In addition to tackling the increasing patient backlog, the inspiration to restart elective surgery comprises mitigating revenue shock from the reduced surgical volume, a considerable contributor to the margin of hospitals. Demand for better patient outcomes will drive the acceptance of innovative technologies in navigation-assisted surgeries and provisions market growth. For instance, in March 2021, 7D Surgical has launched the FLASH navigation system in Switzerland and Germany. Besides, the demand for minimally invasive procedures is increasing across the world.
Surgical navigation systems are instrumental in providing better accuracy and precision in diagnosis and determining the correct implementation of plans during surgery, thereby aiding in minimally invasive procedures with improved patient outcomes. They offer visual imaging at every stage of the surgery thereby allowing modification of the plan during the surgical procedure according to intraoperative findings. It is also cost-effective in joint replacement procedures as very few patients require revision after a one-time procedure. These associated advantages are expected to boost the product demand over the forecast period.
Surgical Navigation Systems Market Segmentation
Grand View Research has segmented the global surgical navigation systems market based on application, technology, end use, and region:
Based on the Application Insights, the market is segmented into ENT, Orthopedic, Neurology, Dental and Others.
- The neurology segment held the largest revenue share of 37.0% in 2021 as it was the first surgical branch to implement navigation and integrate it successfully into the clinical routine.
- The Ear, Nose, and Throat (ENT) surgery segment is expected to grow lucratively over the forecast period, owing to the rising prevalence of ENT disorders. Primary advantages offered by SNSs in ENT surgeries include greater precision resulting in lower risk to the patient, reduced discomfort, reduced invasiveness, and shorter recovery time.
Based on the Technology Insights, the market is segmented into Electromagnetic, Optical and Others.
- The Electromagnetic (EM) segment dominated the surgical navigation systems market and held the largest revenue share of 42.0% in 2021. This growth is attributed to the ease of use, better line of sight, and affordability of the technology as compared to optical navigation.
- The optical segment is expected to witness exponential growth over the forecast period. Optical SNSs provide better results as compared to electromagnetic surgical navigation systems. They are considered the industry standard for neurosurgeries and are capable of tracking a large number of tools simultaneously.
Based on the End-Use Insights, the market is segmented into Hospitals and Ambulatory Surgical Centers.
- The hospitals segment held the largest revenue share of the market in 2021 and is anticipated to continue leading the market over the forecast period. Technologically advanced medical devices are being used extensively used in hospitals to improve Point-of-Care (PoC).
- The Ambulatory Surgical Centers (ASC) segment is expected to witness exponential growth over the forecast period. High adoption of ASCs in developed countries, shortage of hospital beds, and scarce economic resources are the factors expected to boost the growth.
Surgical Navigation Systems Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Key Companies Profile
The market is witnessing intense competition as very few players hold a significant market share, owing to their extensive product portfolio and regional presence. The key players are involved in various strategies such as new product developments, distribution agreements, and expansion strategies to improve their market penetration.
Some prominent players in the global Surgical Navigation Systems market include
- Braun Melsungen AG
- Stryker
- Medtronic
- Corin
- Siemens Healthineers
- Smith+Nephew
- Johnson Johnson Services, Inc. (DePuy Synthes)
- Zimmer Biomet
- KARL STORZ SE Co. KG
- Amplitude Surgical
Order a free sample PDF of the Surgical Navigation Systems Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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