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.
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, 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. Neurology involves the treatment of brain cancer and various disorders of the Central Nervous System (CNS) that demand precise diagnosis and accurate procedures, possible with the aid of SNSs.
- Navigation offers accurate localization of vital anatomic structures, such as cranial nerves or carotid artery, particularly if they are deep in the tumor.
- 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. Most individuals experience an ear, nose, or throat problem from time to time.
Based on the End-use Insights, the market is segmented into Hospitals, 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). These devices not only simplify the treatment procedures but also enable faster and more accurate results. Hospitals also provide a large array of treatment options pertaining to pain management and orthopedic procedures.
- 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.
Based on the Technology Insights, the market is segmented into Electromagnetic, Optical, 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.
- These systems were introduced even before the optical and hybrid SNSs and hence, they have a penetration rate. The segment is anticipated to continue holding the dominant market share in the forthcoming years.
- 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.
- They are unaffected by the presence of metallic objects and electromagnetic fields in the surrounding environment. Such advantages associated with the technology can be attributed to segment growth.
Surgical Navigation Systems Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
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
- B. 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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