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  • Surgical Navigation Systems Market Analysis | 2022-2028

    Surgical Navigation Systems Market Analysis | 2022-2028

    Surgical Navigation Systems Market Analysis | 2022-2028
    Report code - SR2307 Delivery - 2 Weeks
    Surgical Navigation Systems Market Size, Share, Trend, Forecast, Competitive Analysis, and See more...

    Market Insights

    The Surgical Navigation Systems Market was estimated at US$ 6.1 billion in 2021 and is expected to grow at a CAGR of 14.11% during 2022-2028 to reach US$ 15.41 billion in 2028.

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    What are surgical navigation systems?

    Surgical Navigation Systems are advanced medical tools used to enhance precision and accuracy in various surgical procedures. They integrate real-time imaging, such as CT scans or MRI, with computer technology to provide surgeons with 3D maps of the patient's anatomy. These systems offer invaluable guidance during minimally invasive surgeries, enabling surgeons to visualize critical structures, plan incisions, and navigate instruments with precision. They help reduce risks, minimize damage to healthy tissues, and enhance patient outcomes. Surgical Navigation Systems have applications in neurosurgery, orthopedics, ENT surgery, and other fields, where precision and spatial awareness are paramount.

    Market Dynamics

    Particularly if they are deep into the tumour, navigation enables the precise location of critical anatomical structures like cranial nerves or the carotid artery. Additionally, it offers a real-time display of a tracked instrument, increasing anatomic appreciation and boosting surgeons' confidence and sense of security. The aforementioned advantages are anticipated to help this market segment grow steadily. Because ENT problems are becoming more common, the ENT surgery market is anticipated to expand profitably over the projected period.

    The growth is anticipated to be fueled by the rising prevalence of target diseases such as osteoarthritis, brain cancer, and ENT problems as well as the growing elderly population. The World Health Organization (WHO) estimates that 18.5% of women and 9.6% of men have some kind of arthritis. The elderly population is typically affected by osteoarthritis. Patients with osteoarthritis typically struggle to move and are unable to carry out regular tasks.

    Another factor driving the rapid acceptance of these devices over the predicted period is the increasing desire for minimally invasive surgeries. Less incisional wounds result in shorter hospital stays, quicker recovery times, and improved patient comfort with minimally invasive procedures. Due to the shorter hospital stays, these operations are also financially viable. Compared to traditional open operations, minimally invasive surgeries result in reduced blood loss. The launch of new goods and technological developments in these techniques are anticipated to further fuel the market.

    The demand for hip and knee replacement surgery is expected to increase because of an extraordinary increase in the number of people 60 years of age and older. This element is anticipated to have a favorable impact on the market expansion. The availability of a favorable regulatory framework is also projected to fuel the market's overall expansion and the need for surgical navigation systems. Increased reimbursement for orthopedic operations like knee replacement is anticipated to encourage doctors to embrace these systems soon.

    Surgical Navigation Systems Market Report Overview

    Market Size in 2028

    US$ 15.41 billion

    Market Size in 2021

    US$ 6.1 billion

    Market Growth (2022-2028)

    14.11% CAGR

    Base Year of Study

    2021

    Trend Period

    2016-2020

    Forecast Period

    2022-2028

     

    Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market:

    • The main benefits of SNSs in ENT procedures are improved precision that reduces patient risk, decreased discomfort, decreased invasiveness, and a quicker recovery. Most people occasionally suffer issues with their ears, nose, or throat. Over the age of 65, one in four Americans experience debilitating hearing loss. Different malignant tumours in or near the throat, larynx, nose, sinuses, and mouth are referred to as head and neck cancer. In the US, it affects more than 63,000 people annually. In the United States, there are 2.4 million eye injuries reported annually. These elements emphasize the potential market demand for ENT surgical navigation systems, hence fostering market expansion.

    Segments Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Technology-Type Analysis

    Electromagnetic, Optical, and Others

    The Electromagnetic (EM) category dominated the surgical navigation systems market. 

    Application-Type Analysis

    ENT, Orthopedic, Neurology, Dental, and Others

    Neurology held the greatest revenue share in 2021.

    End-User-Type Analysis

    Hospitals, Ambulatory Surgical Centers, and Others

    The hospital sector led the market in 2021 and is predicted to hold this position throughout the forecast period. 

    Regional Analysis

    North America, Europe, Asia-Pacific, and Rest of the World

    North America led the surgical navigation systems market in 2021.

     

    By Technology Type

    The market has been segmented into electromagnetic, optical, and others. The Electromagnetic (EM) category dominated the surgical navigation systems market. This development is explained by the technology's simplicity of use, improved line of sight, and lower cost as compared to optical navigation.

    These systems have a penetration rate because they were released even before the optical and hybrid SNSs. In the upcoming years, it is projected that this market segment will continue to occupy the majority of the market share. The FDA authorized Joimax’s "Intracs" electromagnetic navigation tracking and control system in August 2020, according to the German company. so encourages segment growth overall.

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    By Application Type

    The surgical navigation systems market has been divided into ENT, orthopedic, neurology, dental, and others. Since neurology was the first surgical branch to adopt navigation and successfully incorporate technology into clinical practice, it held the greatest revenue share in 2021. Brain cancer treatment and other illnesses of the Central Nervous System (CNS) are among the neurologic conditions that require accurate diagnosis and treatment, which SNSs make feasible. The number of people with brain tumours and cancer that has spread to the brain is increasing, which is likely to increase demand for neuro-navigation devices.

    By End-User Type

    The market is segmented into hospitals, ambulatory surgical centers, and others. In terms of revenue, the hospital sector led the market in 2021 and is predicted to hold this position throughout the forecast period. In hospitals, technologically advanced medical equipment is often employed to enhance point-of-care (PoC). These tools provide quicker and more precise outcomes in addition to simplifying the treatment processes. In addition, hospitals offer a wide range of solutions for pain control and orthopaedic operations. These considerations suggest that the segment will continue to grow steadily in the foreseeable future.

    Regional Analysis

    The surgical navigation systems market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In terms of revenue share, North America led in 2021. The increased incidence of ENT, neurological, and orthopaedic conditions is anticipated to fuel regional expansion. The demand for surgical navigation systems inevitably rises as the number of patients does, thereby enhancing the regional demand for surgical navigation systems. The main growth reason is the increasing demand for ambulatory surgery facilities, which is putting pressure on hospital procedure volumes coupled with increased operation volumes.

    The regional demand is being driven by a healthcare system that prioritizes quality together with a shift toward ambulatory surgeries in a cost-containment setting. Additionally, the expansion of the regional market is attributable to elements like the rising senior population and a sophisticated reimbursement system that contribute to overall income.

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    Key Players

    The following are the major players in the surgical navigation systems market:

    • Amplitude Surgical
    • B. Braun Melsungen AG
    • Corin
    • Johnson & Johnson Services, Inc. (DePuy Synthes)
    • KARL STORZ SE & Co. KG
    • Medtronic
    • Siemens Healthineers
    • Smith+Nephew
    • Stryker
    • Zimmer Biomet

    The overall competitive landscape has been affected due to these mergers and acquisitions. 

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Surgical Navigation Systems Market 

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Recent Developments

    The market's leading players are focusing on sustaining their position in the industry. The players are focused on product launches, advancements, as well as joint ventures with key players. For example:

    • In February 2021, ClarifEye Augmented Reality Surgical Navigation for minimally invasive spine operations was unveiled by Royal Philips.
    • In September 2019, Johnson & Johnson's DePuy Synthes successfully inked a deal with JointPoint, Inc. to improve outcomes, advance innovation, and expand patient reach.
    • In November 2020, Stryker completed the acquisition of Wright Medical to strengthen its global market position in trauma and extremities. By this contract, DePuy Synthes received navigation software from the latter that would help surgeons perform hip arthroplasties more successfully.
    • In April 2018, Braun inaugurated five new production sites in Malaysia, to enhance the manufacturing of pharmaceutical solutions, infusion treatment devices, and surgical tools.

    Frequently Asked Questions (FAQs)

    The surgical navigation systems market is expected to grow at a CAGR of 14.11% during 2022-2028.

    The surgical navigation systems market is likely to reach US$ 15.41 billion in 2028.

    The growth is anticipated to be fueled by the rising prevalence of target diseases such as osteoarthritis, brain cancer, and ENT problems as well as the growing elderly population. Another factor driving the rapid acceptance of these devices over the predicted period is the increasing desire for minimally invasive surgeries.

    In terms of revenue share, North America led in 2021. The increased incidence of ENT, neurological, and orthopedic conditions is anticipated to fuel regional expansion.

    Since neurology was the first surgical branch to adopt navigation and successfully incorporate technology into clinical practice, it held the greatest revenue share in 2021.

    The Electromagnetic (EM) category dominated the surgical navigation systems market. This development is explained by the technology's simplicity of use, improved line of sight, and lower cost as compared to optical navigation.

    The major players in the surgical navigation systems market are Amplitude Surgical, B. Braun Melsungen AG, Corin, Johnson & Johnson Services, Inc. (DePuy Synthes), KARL STORZ SE & Co. KG, Medtronic, Siemens Healthineers, Smith+Nephew, Stryker, and Zimmer Biomet.

    The market is studied from 2016 - 2028.