"Beyond the Horizon: Forecasting the Future of Surgical Navigation Systems Market (2022-2028)"

November 21, 2023

November 21^st,2023/IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus has brought many major and minor tremors to industries of all sizes including the Surgical Navigation Systems Market.

The Surgical Navigation Systems Market report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

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.  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. 

Segments Analysis

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.

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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Features of the Report

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.

The Surgical Navigation Systems Market analysis report discusses the following heads in great detail:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors 

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Author : Emily