Surgical Navigation System Market

Surgical Navigation System Market Overview (2022 to 2032)

[250 Pages Report] The surgical navigation system market is projected to attain a CAGR of 6.2% during the forecast period, up from USD 940 Million in 2020 to reach a valuation of USD 1,700 Million by 2030.

Attributes	Details
Surgical Navigation System Market CAGR	6.2%
Surgical Navigation System Market (2030)	USD 1,700 Million

Sales of surgical navigation systems spike as it is one of the most reliable technologies developed to render surgeries safer and less invasive compared to surgeries without surgical navigation systems.

In addition, the demand for surgical navigation systems is expected to rise as navigation during surgery is an excellent technology applied currently in medical devices and has paved the way for complex procedures.

Surgical navigation systems act as information centers during surgeries and reduce the associated risks, thereby fostering the demand for surgical navigation systems.

Higher sales of surgical navigation systems can also be attributed to the accurate visualization of the anatomy rendered and planning in a virtual environment.

A surgical navigation system allows surgeons to perform preoperative planning and precise surgical navigation of instruments during the procedure, surging the demand for surgical navigation systems.

The rising prevalence of target conditions such as osteoarthritis, brain tumors, ENT disorders, and the growing senior population also fuel the sales of surgical navigation systems.

Increased funding for the treatment of cardiovascular disorders is also expected to spur innovation and research, resulting in higher demand for surgical navigation systems and surgical navigation system market growth.

Furthermore, the soaring demand for minimally invasive surgeries is another factor driving the sales of surgical navigation systems over the forecast period.

Demand for surgical navigation systems is also projected to increase due to technological advancements in these procedures and the introduction of new products.

The presence of a supportive regulatory structure is expected to drive the sales of surgical navigation systems and demand for surgical navigation systems.

Rising reimbursement coverage for orthopaedic procedures like knee replacement is also considered to propel the adoption and demand for surgical navigation systems in the near future.

What are the Key Dynamics in the Surgical Navigation System Market?

The global surgical navigation system market is driven by navigation technology which encompasses surgical planning software, intra-operative imaging, and instrument tracking technologies.

Surgical navigation systems guide the surgeons to make data-oriented decisions during surgeries, which fosters higher sales of surgical navigation systems.

This surgical navigation system technology is a driver for the global surgical navigation system market and the overall demand for surgical navigation systems.

A major factor that positively affects the sales of surgical navigation systems is the surge of minimally invasive and non-invasive surgeries.

The minimally invasive and non-invasive surgeries are becoming popular among the masses due to the patient's rapid post-operative recovery with minimal pain, thereby pushing the demand for surgical navigation systems forward.

However, the high cost of surgical navigation systems may deter some hospitals from implementing them, in turn, dwindling the sales of surgical navigation systems.

The neurosurgery segment dominates the global surgical navigation system market due to complicated procedures, and the same expands the sales of surgical navigation systems.

Orthopedic navigation systems accounted for the second-highest surgical navigation system market share in the global surgical navigation system market, closely followed by ENT navigation system.

Why is North America Leading the Surgical Navigation System Market?

Depending on geographic regions, the global surgical navigation system market is segmented into seven key regions--North America, South America, Eastern Europe, Western Europe, the Asia Pacific Excluding Japan, Japan, and Middle East & Africa.

Due to the mature healthcare sector in the North American countries, North America held a substantial global surgical navigation system market share and is expected to retain the surgical navigation system market share over the forecast period.

North America dominates the global surgical navigation system market, owing to the well-established medical device industries.

The presence of key companies operating in the surgical navigation system market striving to augment their surgical navigation system market share has contributed significantly to the increase in sales of surgical navigation systems.

The increased number of surgeries performed in North America is also a primary driver of the region's demand for surgical navigation systems.

Japan and Germany are projected to present a considerable growth rate in the global surgical navigation system market due to the well-established infrastructure and advanced Information Technology (IT) in healthcare.

Who are the Key Players in the Surgical Navigation System Market?

Some of the key players in the global surgical navigation system market are GE Healthcare Ltd., Medtronic Inc., Siemens Healthcare Corporation, Stryker Corporation, B. Braun Melsungen AG, Bausch & Lomb Incorporated, CAScination AG, and Brainlab AG.

The global surgical navigation system market manufacturers are getting product approvals from the Food and Drug Administration (FDA) market launch of their products to expand their surgical navigation system market share.

The global surgical navigations system market players encourage acquisitions and strategic collaborations to gain competitive advantage, expand into emerging markets and broaden the product portfolio.

Scope Of Report

Report Attributes	Details
Growth rate	CAGR of 6.2% from 2022 to 2032
Base year for estimation	2021
Historical data	2015 to 2020
Forecast period	2022 to 2032
Quantitative units	Revenue in USD million, volume in kilotons, and CAGR from 2022 to 2032
Report coverage	Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis
Segments covered	Product, application, end use, region
Regional scope	North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia
Country scope	USA, Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa
Key companies profiled	GE Healthcare Ltd.; Medtronic Inc.; Siemens Healthcare Corporation; Stryker Corporation; B. Braun Melsungen AG; Bausch & Lomb Incorporated; CAScination AG and Brainlab AG.
Customization scope	Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs.?

Key Segments

By Technology:

• Electromagnetic Navigation Systems
• Hybrid Navigation Systems
• Optical Navigation Systems
• Fluoroscopy-based Navigation Systems
• CT-based Navigation System
• Others

By Application:

• Neurosurgery
• Orthopedic Surgery
• ENT surgery
• Cardiac surgery
• Others

By End Use:

• Hospitals and Physician Practices
• Ambulatory Surgery

By Region:

• North America
• Latin America
• Asia Pacific
• MEA
• Europe

Frequently Asked Questions

What is the Growth Outlook of the Surgical Navigation System Market?

The surgical navigation system market is expected to record a CAGR of 6.2% during the forecast period.

What was the Historical Size of the Surgical Navigation System Market?

The surgical navigation system market size was worth USD 940 Mn in 2020.

Who are a Few Major Players in the Surgical Navigation System Market?

GE Healthcare Ltd., Medtronic Inc., Siemens Healthcare Corporation, Stryker Corporation, B. Braun Melsungen AG are some of the major players in the market.