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The global surgical navigation systems market size is estimated to grow by USD 580.92 million, at a CAGR of 6.92% between 2023 and 2028
CVD is the leading cause of death globally and the prevalence of these diseases is high due to an unhealthy and sedentary lifestyle. The geriatric population is more prone to CVD as their heart functionality becomes weak. According to the World Health Organization, CVD is the major cause of death across the world and accounts for about one-third of the total annual deaths. According to the Centers for Disease Control and Prevention (CDC), in the US, approximately 610,000 people succumb to heart disease every year. The CDC also reports that every year, approximately 790,000 Americans have a heart attack, of which nearly 580,000 are first attacks and 210,000 are recurrent attacks. Further, the prevalence of CVD is expected to increase significantly in the upcoming decade (by 2030) owing to a growing sedentary lifestyle. This will also increase awareness about surgical navigation systems to prevent the recurrence of diseases, which will lead to the growth of the market during the forecast period.
Technavio has segmented the market into Application, Technology, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
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The market share growth by the neurology segment will be significant during the forecast period. The neurology segment exhibits significant prominence in the global surgical navigation systems market, owing to the crucial need for high precision and accuracy in neurosurgical procedures. Surgical navigation systems play a pivotal role in neurology by providing real-time imaging and navigation guidance during intricate brain and spinal surgeries.
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The neurology was the largest segment and was valued at USD 433.11 million in 2018. Further, in the context of spine surgery, surgical navigation systems offer precise guidance for pedicle screw placement, contributing to enhanced surgical outcomes and reduced revision rates. The adoption of robotic-assisted surgical navigation systems in neurosurgery represents a notable advancement, allowing for enhanced dexterity and precision in complex procedures. For instance, robotic-assisted systems facilitate intricate tasks such as tumor resections and spinal fusions, offering neurosurgeons advanced tools for improved surgical maneuverability and control. Thus, the above-mentioned factors are expected to increase the demand for surgical navigation systems in neurology, which will propel the growth of the neurology segment in the global surgical navigation systems market during the forecast period.
The electromagnetic segment holds a prominent position in the market, offering precise and real-time guidance during various medical procedures. These systems utilize electromagnetic fields to track the position of surgical instruments and provide accurate navigation, making them invaluable in a wide range of surgical disciplines. Furthermore, the versatility of electromagnetic navigation systems extends to neurosurgery, where they are utilized to aid in procedures such as DBS. By providing accurate guidance for the placement of electrodes within the brain, these systems contribute to improved targeting and efficacy of neurostimulation therapy, benefiting patients with movement disorders such as Parkinson's disease and essential tremor. Thus, the above-mentioned factors are expected to increase the demand for electromagnetic in surgical navigation systems, which will propel the growth of the electromagnetic segment in the market during the forecast period.
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North America is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The increased frequency of chronic disorders among the Mexican population is expected as well to fuel regional market expansion. For instance, the International Diabetes Federation (IDF) reported in December 2021 that an estimated 14 million persons in Mexico had diabetes. Similarly, the incidence of cardiovascular diseases (CVD) in the Canadian population is likely to drive regional market expansion. For instance, according to the Canadian Institute for Health Information data published in July 2022, around 2.4 million Canadians had heart disease in 2022. The incidence of chronic cardiovascular disease and diabetes in North American countries is driving demand for surgical navigation systems, adding to the regional market's market growth and trends.
In addition, supportive regulatory frameworks and favorable reimbursement policies in North America play a crucial role in propelling the regional market. Regulatory bodies such as the Food and Drug Administration (FDA) in the US ensure the safety and efficacy of these systems, instilling confidence among healthcare providers and facilitating their adoption. Moreover, reimbursement policies that recognize the value of surgical navigation systems encourage healthcare institutions to invest in these advanced technologies, further driving the growth of the regional market during the market forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The market analysis and report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
B.Braun SE - The company offers surgical navigation systems such as the AMPLIVISION system that allows surgeons to operate with their specific preferences efficiently and reliably.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth analysis. Our researchers analyzed the data with 2023 as the base year and the market growth and forecasting, trends, and challenges.
Ongoing technological advancements in surgical navigation systems are an emerging trend shaping the market growth. One notable technological advancement is the integration of AR and virtual reality (VR) capabilities into surgical navigation systems. By overlaying real-time imaging data onto the surgeon's field of view, AR technology provides enhanced spatial orientation and precise anatomical guidance during procedures. Further, the development of portable and wireless navigation systems broadens the scope of surgical interventions, particularly in ambulatory and outpatient settings. These compact systems provide flexibility and mobility, enabling surgeons to perform procedures with advanced navigation guidance in diverse clinical environments.
For instance, in ear, nose, and throat (ENT) surgeries, portable navigation systems can aid in the accurate localization of tumors and intricate anatomical structures, contributing to enhanced surgical precision and patient safety. Thus, such factors are expected to fuel the growth of the market during the forecast period.
The high initial cost of acquiring surgical navigation systems is a significant challenge hindering market growth. The substantial financial investment required for the procurement, implementation, and maintenance of surgical navigation systems presents a considerable challenge for healthcare institutions worldwide, influencing their decision-making processes and resource allocation strategies. Furthermore, ongoing operational expenses, such as maintenance, upgrades, and ongoing technical support, contribute to the total cost of ownership, adding to the overall financial burden and cost of ownership for healthcare organizations.
However, these recurring expenses may further dissuade healthcare providers from embracing surgical navigation systems despite recognizing their potential to improve surgical precision and patient care. Thus, such factors are expected to hinder the growth of the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market research and growth strategies.
Global Surgical Navigation Systems Market Customer Landscape
The surgical navigation systems market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest market trends and analysis and growth opportunities from 2018 to 2028.
Surgical Navigation Systems Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2023 |
Historic period |
2018-2022 |
Market forecasting period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.92% |
Market Growth 2024-2028 |
USD 580.92 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.83 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 45% |
Key countries |
US, Germany, France, UK, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
B.Braun SE, Brainlab AG, CASCINATION AG, Corin Group Plc, Fiagon GmbH, General Electric Co., Johnson and Johnson, KARL STORZ SE and Co. KG, Lexmark International Inc., Medacta International SA, Medtronic Plc, Navigate Surgical Technologies Inc., OrthAlign Corp., Orthofix Medical Inc., Samsung Electronics Co. Ltd., Siemens AG, Smith and Nephew plc, Stryker Corp., Zimmer Biomet Holdings Inc., and Amplitude Surgical |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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