The global neuronavigation systems market is forecasted to be appraised at USD 4794.5 million by 2032, up from USD 2120.0 million in 2022, advancing at a CAGR of 7.7% during the forecast period.
| Report Attribute | Details |
|---|---|
| Neuronavigation Systems Market Value (2022) | USD 2120.0 Million |
| Neuronavigation Systems Market Anticipated Value (2032) | USD 4794.5 Million |
| Neuronavigation Systems Projected Growth Rate (2022 to 2032) | 7.7% |
Neuronavigation refers to the set of computer-assisted technologies that are used by neurosurgeons for guiding or navigation within the confines of the skull or vertebral column during transactional magnetic stimulation or surgery.
The sales of neuronavigation systems are increasing as they have become a standard procedure for neurosurgery and associated specialties due to improved accuracy, efficiency and safety.
Moreover, neuronavigation systems are extensively being used in the operative management of brain tumors and are offering numerous clinical advantages to the surgeon.
In addition to that, neuronavigation systems increase the safety and accuracy of neurosurgery, helping the surgeons to visualize and navigate the confines of the vertebral column and skull of the patient during the surgery, which is likely to fuel the demand for neuronavigation systems.
Therefore, it is expected that the neuronavigation systems market is likely to have significant growth during the forecast period.
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The demand for neuronavigation systems market is likely to witness growth due to high demand and increasing need for systems that are accurate.
One of the key neuronavigation systems market growth drivers of the global neuronavigation systems is the growing incidences of neurological disorders such as cancer, brain tumors, and stroke.
Moreover, other functionalities like planning of incision and craniotomy and determination of small subcortical lesions by neuronavigation systems are also driving the demand for neuronavigation systems in the global market.
In addition to that, there is an introduction to new and innovative neuronavigation systems by market players, which is fueling the demand and the adoption of these systems in the global market.
Furthermore, it is estimated that with the use of neuronavigation systems, there will be improved outcomes and shortened hospital stays that will motivate the neuronavigation systems market to increase.
Neuronavigation systems are also used for brain biopsy. Deep tumors inside the brains are dangerous and difficult to approach by open surgery, which can be diagnosed by passing the biopsy probe through a small hole in the skull. This method is used to place electrodes in the brain to treat disorders such as Parkinson’s disease. Neuronavigation system localization can limit the size of the opening of the skill, and it is estimated that these factors are likely to drive the neuronavigation systems market size in the upcoming years.
It is anticipated that clinical complications related to neuronavigation systems, combined with the high cost of acquisition and maintenance of these systems, are some of the major factors that would restrain the growth of the global neuronavigation systems market.
In addition to that, brain shift is a type of deformation of the brain during surgery due to gravity, the volume of a resected tumor, the intraoperative position of the patient, and loss of cerebrospinal fluid, which gives no accuracy in the preoperative images for the real-time anatomy which hinder the growth of the neuronavigation system market globally.
At present, North America holds the highest share of the neuronavigation systems market. This region is accountable for 44.9% of the total market share of neuronavigation systems.
Due to the high prevalence of neurological disorders and demand for technologically advanced neurological systems, this region has a bolstering growth in its neuronavigation market size.
In addition to that, government funding in this region for the development of surgical navigation systems and the rising adoption of minimally invasive surgery is fueling the growth of the neuronavigation systems market in the North American regions.
Europe is currently accountable for 26.1% of the total market share of neuronavigation systems. It is anticipated that Europe is emerging in the neuronavigation systems market due to the adoption of advanced technologies and the rising incidence rate of disorders.
Furthermore, there is a development of the healthcare infrastructure in the European regions, which is driving the market size for neuronavigation systems.
How are New Entrants Revolutionizing the Neuronavigation Systems Market?
The start-up ecosystem in the neuronavigation systems market is intense with frequent innovations being made. Start-ups in the neuronavigation systems market are focusing on improvising the tools for better implementation of surgical procedures.
Some of the new entrants in the market are – Happy Reliable Surgeries (HRS), which has emerged as the premier solution provider for neuro and ENT surgeries. HRS Navigation has many innovative tools which help surgeons to plan and execute surgery as per their plans. They are known to be a healthcare startup focused on providing innovative computer-assisted surgery solutions, HRS Navigation manufactures and markets high-tech surgical navigation systems.
The NeuroCare Group is a provider of neuromodulation and neurofeedback therapies for brain conditions. The company offers DC-EEG devices such as NEURO PRAX EEG, NEURO PRAX MR, and NEURO PRAX TMS/TES which are biofeedback systems. Also, offers transcranial electrical stimulation systems, transcranial magnetic stimulation, TMS neuronavigation, near-infrared spectroscopy, and others.
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Who are some of the Key Market Players in the Neuronavigation Systems Market?
Some of the key players in the global neuronavigation system market are ClaroNav, Stryker, Brainlab AG, Parsis, Northern Digital Inc., Heal Force, Medtronic, Synaptive Medical, Bramsys Indústria e Comércio Ltd.
The key market payers are continuously making efforts to collaborate and create innovative technologies for the benefit of the patient, with standard and minimally invasive procedures for neurosurgeries and associated specialties.
Some of the key developments in the neuronavigation systems market are:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.7% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, Application, End User, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | ClaroNav; Stryker; Brainlab AG; Parsis; Northern Digital Inc.; Heal Force; Medtronic; Synaptive Medical; Bramsys Indústria e Comércio Ltd. |
| Customization | Available Upon Request |
The growth outlook for the neuronavigation systems market is predicted to advance at a CAGR of 7.7% from 2022 to 2032.
The North American region is anticipated to lead the neuronavigation systems market during the forecast period.
The neuronavigation systems market is likely to hold a valuation of USD 4794.5 million by 2032.
The healthcare industry sector is the key driver in the neuronavigation systems market.
| Market Size (2024E) | USD 1,976 million |
|---|---|
| Market Value (2034F) | USD 4,305.7 million |
| Value-based CAGR (2024 to 2034) | 8.1% |
| Market Value for 2024 | USD 52 billion |
|---|---|
| Market Value for 2034 | USD 102.4 billion |
| Forecast CAGR for 2024 to 2034 | 7% |
| Market Size, 2023 | USD 6,221.2 million |
|---|---|
| Market Size, 2033 | USD 15,417.4 million |
| Value CAGR (2023 to 2033) | 9.5% |
| Market Estimated Size in 2023 | USD 2.6 billion |
|---|---|
| Projected Market Value in 2033 | USD 4.1 billion |
| Value-based CAGR from 2023 to 2033 | 4.7% |
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