Westford, USA, Oct. 10, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the global surgical navigation systems market will reach a value of USD 25.95 Billion by 2031, with a CAGR of 14% during the forecast period (2024-2031). Principal drivers of the expansion are anticipated to include the rising prevalence of target disorders, the expanding necessity for minimally invasive surgical treatments, and the growing demand for robot-assisted surgery. The Da Vinci technology has been installed in a total of 8,606 units around the world, out of which a considerable number of these units are in the major regions where healthcare is provided such as the US, Europe, and Asia. As illustrated in the 2023 annual report of Intuitive Surgical. RAS is an integral component of modern medicine.
Browse in-depth TOC on the ” Surgical Navigation Systems Market”.
Pages – 219
Tables – 64
Figures – 75
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Surgical Navigation Systems Market Overview:
Report Coverage | Details |
Market Revenue in 2023 | USD 9.10 Billion |
Estimated Value by 2031 | USD 25.95 Billion |
Growth Rate | Poised to grow at a CAGR of 14% |
Forecast Period | 2024–2031 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | End-Use, Application and Region |
Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
Report Highlights | Hybrid integration of advanced AI |
Key Market Opportunities | Increasing demand for minimally invasive surgeries |
Key Market Drivers | Higher incidence of surgical procedure |
Market Segmental Analysis
The global surgical navigation systems market is segmented on the basis of end-use, application, and region.
By end-use, the market is segmented into hospitals, and ambulatory surgical centres.
In terms of application, the market is segmented into ENT, orthopaedic, neurology, dental, and others.
Region wise, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Electromagnetic Technology to Hold Significant Growth due to High Accuracy in Tracking Instruments
The global surgical navigation systems market is largely dominated by electromagnetic tracking systems owing to the high level of precision offered in instrument tracking during complicated surgical procedures as well as the non-line-of-sight functionality enabling procedures to be conducted in restricted space. This accuracy improves results, hence the need to adopt the systems for use in operations, particularly in spine, orthopedic and ear plastic surgeries, thus catalyzing the growth of the market.
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Hospital End Use to Lead the Market due to Diverse Surgical Procedures
Hospitals dominate the global surgical navigation systems market due to their high patient volume and diverse surgical procedures, requiring advanced technologies for precision. The growing need for better patient outcomes as well as shorter recovery timelines has led many hospitals to incorporate navigation systems and thus become the main end-user contributing to the growth of the market.
North America to Dominate the Market due to Large Pool of Skilled Surgeons in the Region
North America dominates the global surgical navigation systems market due to advanced healthcare infrastructure, high adoption of cutting-edge medical technologies, and strong investment in R&D. A large pool of skilled surgeons and rising demand for minimally invasive surgeries also fuel growth, positioning the region as a leader in the market.
Surgical Navigation Systems Market Insight
Drivers:
- Growing Preference of Minimal Invasive Surgeries
- Advantages of Robotic-Assisted Surgery
- Government Investments for Healthcare Interoperability
Restraints:
- Cost of Implementation being Barrier for Healthcare Facilities
- Integrating with Various Surgical Navigation Devices
- Differences in Technology Standards
Prominent Players in Surgical Navigation Systems Market
- Medtronic plc (Ireland)
- Stryker Corporation (US)
- Brainlab AG (Germany)
- Siemens Healthineers (Germany)
- Zimmer Biomet Holdings, Inc. (US)
- B. Braun Melsungen AG (Germany)
- GE Healthcare (United States)
- Karl Storz GmbH & Co. KG (Germany)
- DePuy Synthes Companies (US)
- Smith & Nephew plc (UK)
- NuVasive, Inc. (US)
- Integra LifeSciences Corporation (US)
- Olympus Corporation (Japan)
- Fiagon AG (Germany)
- XION GmbH (Germany)
- ClaroNav Inc. (Canada)
- Scopis GmbH (Germany)
- Fiagon NA (US)
- Veran Medical Technologies, Inc. (US)
- Fiagon AG Medical Technologies (Switzerland)
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Key Questions Answered in Global Surgical Navigation Systems Market Report
- What is the projected value of the Global Surgical Navigation Systems Market by 2031?
- Which technology is expected to hold significant growth due to its high accuracy in tracking instruments during complex procedures?
- Why does North America dominate the global surgical navigation systems market?
This report provides the following insights:
Analysis of key drivers (Growth in global healthcare spending, favorable regulatory policies, navigation systems are becoming essential for neurosurgeries), restraints (Expensive nature of surgical systems, shortage of trained surgeons familiar with navigation systems, inconsistent regulatory standards), opportunities (Accurate decision-making capabilities, expanding healthcare infrastructure, combining various tracking technologies), and challenges (Lengthy approval processes for new technologies, lack of industry-wide standards) influencing the growth of surgical navigation systems market.
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the surgical navigation systems market.
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the surgical navigation systems market.
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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