The major factors that drive the growth of this market include rise in adoption of minimal invasive surgeries, improvement in healthcare infrastructure in emerging economies, numerous technological advancements, increase in incidence of ENT and neurosurgery-related disorders, and growth in knee replacement surgeries globally.
The major factors that drive the growth of this market include rise in adoption of minimal invasive surgeries, improvement in healthcare infrastructure in emerging economies, numerous technological advancements, increase in incidence of ENT and neurosurgery-related disorders, and growth in knee replacement surgeries globally. However, high cost of these systems and stringent FDA rules are the major barriers that restrain the market growth.
Surgical navigation systems market was valued at $628 million in 2015, and is projected to reach $963 million by 2022, growing at a CAGR of 6.3% from 2016 to 2022, according to a new report published by Allied Market Research. Optical navigation systems segment is expected to grow at the highest growth rate during the forecast period, owing to benefits such as minimum radiation exposure and preciseness & accuracy during complex surgeries.
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ENT navigation system segment is anticipated to grow at the highest CAGR, attributed to the increase in prevalence of ENT-related disorders and rise in adoption of surgical navigation systems among ambulatory settings. Neurosurgery navigation system held the largest market share in 2015, accounting for more than two-fifths share, owing to high adoption rate of navigation systems in neurosurgical procedures.
Key Findings of Surgical Navigation Systems Market
- In 2015, neurology navigation systems segment led the market, accounting for more than two-fifths of the global surgical navigation systems market.
- North America accounted for the largest market share in 2015, and is projected to grow at a CAGR of 5.3% during the forecast period.
- Hospital segment held the largest market share in 2015, accounting for more than three-fourths share.
- U.S. was the major shareholder in the North American market, and is expected to grow at the CAGR of 5.9%.
- The global electromagnetic navigation systems market is expected to grow at a CAGR of 5.9%.
The major factors that drive the growth of this market include rise in adoption of minimal invasive surgeries, improvement in healthcare infrastructure in emerging economies, numerous technological advancements, increase in incidence of ENT and neurosurgery-related disorders, and growth in knee replacement surgeries globally. However, high cost of these systems and stringent FDA rules are the major barriers that restrain the market growth.
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Major market players
- Medtronic plc (Ireland)
- Stryker Corporation (U.S.)
- Brainlab AG (Germany)
- B. Braun Melsungen AG (Germany)
- Scopis GmbH (Germany)
- Fiagon AG (Germany)
- Karl Storz GmbH & Co. KG (Germany)
- Amplitude Surgical (France)
- Zimmer Biomet Holdings, Inc. (U.S.)
- Siemens Healthineers (Germany).
Allied Market Research Coverage on the Healthcare Domain:
Remote Patient Monitoring Market Global Opportunity Analysis and Industry Forecast, 2019-2027
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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