Global Surgical Navigation Systems Market

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 News

  • 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.

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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 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. '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)'

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.

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.

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.

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