USD 7.98 Billion
Global Surgical Navigation Systems Market Size, Share, Growth Analysis, By End-use(Hospitals, and Ambulatory Surgical Centers), By Application(ENT, Orthopedic) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2501 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
64 |
Figures:
75
Global Surgical Navigation Systems Market Insights
Global Surgical navigation systems Market size was valued at USD 7.98 Billion in 2022 and is poised to grow from USD 9.10 Billion in 2023 to reach USD 25.95 Billion by 2031, at a CAGR of 14% during the forecast period (2024-2031).
The primary purpose of the surgical navigation systems market is to enhance surgical outcomes by improving accuracy, minimizing invasiveness, reducing complications, and optimizing patient safety. These systems aid surgeons in precisely locating targets, planning surgical approaches, and performing procedures with greater precision. Surgical navigation systems are widely used in neurosurgery, orthopedic surgery, ENT surgery, dental surgery, and various other specialized surgical disciplines. Continuous advancements in imaging technology, sensor technology, and computer software have greatly improved the capabilities of surgical navigation systems. The integration of augmented reality, machine learning, and artificial intelligence has enhanced the accuracy and efficiency of these systems, driving their adoption. There is a growing preference for minimally invasive surgical techniques due to their advantages such as smaller incisions, faster recovery, reduced postoperative pain, and shorter hospital stays. Surgical navigation systems can be expensive, requiring significant investment for hospitals and healthcare facilities. Surgical navigation systems are complex and require training and expertise to operate effectively. Technological advancements and the growing demand for minimally invasive procedures are driving market growth. The high cost of systems and limited reimbursement coverage present challenges. Opportunities lie in expanding into emerging markets and fostering collaborations to develop specialized solutions.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
14% CAGR
Global Surgical Navigation Systems Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
Global Surgical Navigation Systems Market Size By End-use 2022-2030 ($ Bn)
Global Surgical Navigation Systems Market, By End-use 2022-2030 (%)
To get more reports on the above market click here to Buy The Report
Global Surgical Navigation Systems 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 centers. In terms of application, the market is segmented into ENT, orthopedic, neurology, dental, and others. Regionwise, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Surgical Navigation Systems Market Analysis by End-use
The hospitals segment emerged as the dominant revenue generator in the global surgical navigation systems market in 2022, and this trend is expected to persist throughout the forecast period. Hospitals leverage technologically advanced medical devices to enhance point-of-care services, simplifying treatment procedures and delivering faster and more accurate results. Moreover, hospitals offer a wide range of treatment options, particularly in the areas of pain management and orthopedic procedures. These factors contribute to the steady growth of the hospitals segment and are anticipated to drive its continued expansion in the near future.
The ambulatory surgical centers (ASCs) segment is poised for exponential growth during the forecast period. Developed countries are witnessing a high adoption rate of ASCs due to factors such as a shortage of hospital beds and limited economic resources. ASCs offer numerous advantages, including shorter waiting lists, quicker discharge, reduced procedural costs, and higher operational efficiency. These benefits contribute to the growing popularity of ASCs and are expected to fuel their rapid growth in the coming years.
Surgical Navigation Systems Market Analysis by Application
In 2022, the neurology segment emerged as the leading revenue contributor, accounting for a significant share of 37.0% in the global surgical navigation systems market. Neurology was the first surgical branch to adopt and successfully integrate navigation technology into clinical practice. The field of neurology primarily focuses on the diagnosis and treatment of brain tumors, central nervous system disorders, and other neurological conditions that require precise diagnosis and accurate procedures, which can be facilitated with the assistance of surgical navigation systems (SNSs). The increasing prevalence of brain tumors and cancer leading to brain metastasis is expected to drive the demand for neuro-navigation systems.
Surgical navigation systems offer precise localization of critical anatomical structures within the brain, such as cranial nerves or the carotid artery, particularly when they are situated deep within a tumor. Additionally, these systems provide real-time visualization of instruments being used during surgery, enhancing surgeons' understanding of the anatomy and increasing their confidence and perception of safety. These benefits contribute to the steady growth of the neurology segment in the surgical navigation systems market.
Global Surgical Navigation Systems Market Size By End-use, 2022 (%), 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Surgical Navigation Systems Market Regional Insights
In 2022, North America held the largest revenue, accounting for approximately 45.0% of the global surgical navigation systems market. The region's growth can be attributed to the increasing prevalence of orthopedic, ENT, and neurological disorders. The rise in the number of patients with these conditions drives the demand for surgical navigation systems, thus contributing to the regional market's growth. Additionally, there is a growing preference for ambulatory surgery centers, which helps alleviate the burden on hospital procedure volumes. The shift toward ambulatory surgeries in a cost-conscious environment, coupled with a quality-driven healthcare model, further drives the demand for surgical navigation systems in North America. The region also benefits from factors such as a well-developed reimbursement structure, a growing geriatric population, and overall healthcare advancements, all of which contribute to the growth of the market in this region.
Asia Pacific is expected to witness exponential growth in the surgical navigation systems market over the forecast period. This growth is primarily driven by developing economies, an increasing aging population, and growing healthcare awareness. The region has a significant target population for surgical navigation systems, particularly for orthopedic disorders, given the susceptibility of the geriatric population. Key contributors to the regional market include countries like Japan, China, and India. Moreover, the Asia Pacific region offers high untapped opportunities, attracting companies to expand their presence and invest in the market. Continuous research and development activities by key market players to develop innovative products also fuel the growth in the region.
Global Surgical Navigation Systems Market Size By Geography, 2022-2030, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Surgical Navigation Systems Market Dynamics
Surgical Navigation Systems Market Drivers
Growing Prevalence of Chronic Diseases and Age-Related Conditions
- The increasing incidence of chronic diseases, such as cancer and neurological disorders, along with age-related conditions, drives the demand for surgical navigation systems. These systems enable precise diagnosis, planning, and execution of surgical procedures, leading to improved patient outcomes.
Technological Advancements and Benefits of Surgical Navigation
- The continuous advancements in surgical navigation technologies, such as improved imaging modalities, real-time guidance, and augmented reality integration, have expanded the capabilities of these systems. Surgeons benefit from enhanced visualization, accurate intraoperative navigation, and reduced surgical risks, thereby driving the adoption of surgical navigation systems.
Surgical Navigation Systems Market Restraints
High Cost of Surgical Navigation Systems
- The high cost associated with acquiring and maintaining surgical navigation systems poses a significant restraint for market growth. The initial investment, training, and maintenance expenses can limit the adoption of these systems, particularly in resource-constrained healthcare settings.
Limited Reimbursement Coverage
- In some regions, the reimbursement coverage for surgical navigation procedures may be limited or uncertain. This factor can hinder the widespread adoption of surgical navigation systems, as healthcare providers may face financial challenges in offering these advanced procedures.
Request Free Customization of this report to help us to meet your business objectives.
Global Surgical Navigation Systems Market Competitive Landscape
The global surgical navigation systems market is highly competitive, with several key players striving to capture a significant market share. These companies focus on product development, strategic collaborations, mergers and acquisitions, and geographical expansion to strengthen their position in the market. Here is an elaborate overview of the competitive landscape in the global surgical navigation systems market. The competitive landscape is dynamic, with ongoing advancements and new market entrants shaping the market dynamics. Market players are keenly focused on developing technologically advanced navigation systems and expanding their market presence to stay ahead in this competitive industry.
Top Player’s Company Profiles 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)
Surgical Navigation Systems Market Recent Developments
-
The full commercial launch of Orthofix Medical's 7D Flash navigation system percutaneous module 2.0 in the US is scheduled for August 2023. Using visible light, 7D Flash can create a three-dimensional image for surgical navigation in a matter of seconds. This expedites and improves the effectiveness of spinal surgeries, claims Orthofix. The company claims that its image guidance system is distinct because it blends cutting-edge camera-based technology with machine-vision algorithms.
-
One of the world's leading producers of medical technology, Stryker, released the Q Guidance System with Cranial Guidance Software for sale in July 2023. This system assists surgeons in cranial surgery, patient anatomy identification and instrument positioning by providing image-based planning and intraoperative guidance. The application can be used for craniotomies, trans-sphenoidal and skull base procedures, biopsies, and shunt implantations.
-
Proprio, a technology company based in Seattle, declared in April 2023 that it had obtained FDA 510(k) clearance for Paradigm, its most recent surgical navigation platform. One of the first platforms of its kind to use light field technology for spine surgical navigation is this one. The company will increase sales and improve surgical navigation system production thanks to this development.
Global Surgical Navigation Systems Key Market Trends
- Integration of Artificial Intelligence (AI) and Machine Learning (ML): The integration of AI and ML technologies in surgical navigation systems is a key trend in the market. These technologies enable automated image analysis, real-time data processing, and predictive modeling, assisting surgeons in decision-making and improving surgical outcomes.
- Expansion into Emerging Markets: Market players are increasingly focusing on expanding their presence in emerging markets, such as Asia-Pacific and Latin America, due to the growing healthcare infrastructure, rising medical tourism, and increasing demand for advanced surgical technologies. This trend highlights the untapped opportunities in these regions and the strategic initiatives taken by companies to capture market share.
Global Surgical Navigation Systems Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global surgical navigation systems market analysis, these systems provide real-time imaging and guidance, allowing surgeons to accurately navigate and perform procedures with improved precision and safety. The market for surgical navigation systems is being driven by several factors. There is a growing demand for minimally invasive surgeries, which require precise navigation and guidance tools. Surgical navigation systems enable surgeons to perform these procedures with smaller incisions, resulting in reduced patient trauma, faster recovery, and improved outcomes.
The market also faces certain challenges and restraints. One of the main challenges is the high cost associated with implementing surgical navigation systems. The global surgical navigation systems market is driven by the rising demand for minimally invasive surgeries, the increasing prevalence of chronic diseases, and the need for improved surgical precision. The market is expected to witness further developments and innovations as healthcare providers continue to adopt surgical navigation systems for enhanced surgical procedures.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 7.98 Billion |
| Market size value in 2031 | USD 25.95 Billion |
| Growth Rate | 14% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Surgical Navigation Systems Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Surgical Navigation Systems Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Surgical Navigation Systems Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Surgical Navigation Systems Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Surgical Navigation Systems Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Surgical Navigation Systems Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Surgical Navigation Systems Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
