Enjoy complimentary customisation on priority with our Enterprise License!
The global neuronavigation systems market is projected to expand significantly, reaching USD 227.65 million by 2028, growing at a CAGR of 7.06% during the forecast period. This growth is driven by the increasing prevalence of chronic neurological disorders, particularly among the geriatric population. As aging amplifies the risk and progression of neurological conditions, the expanding elderly demographic, linked to increased life expectancy, fuels market growth. A noteworthy trend in this domain is the emergence of hybrid operating rooms, which integrate advanced neurology devices with sophisticated imaging systems. These rooms combine traditional operating environments with neurodiagnostics tools like MRI and CT scans, enabling neurosurgery equipment and precise interventions. The shift towards minimally invasive procedures further underscores this trend, leading to the development of specialized Surgical Instruments designed for such surgeries within hybrid ORs. The convergence of Neurological Navigation Technology with advanced imaging devices represents a significant stride in enhancing patient outcomes and surgical precision. Furthermore, the integration of neurological biomarkers into these systems is expected to revolutionize diagnostics and treatment plans, offering personalized care and improved patient outcomes.
To learn more about this report, Request Free Sample
The market share growth by the optical segment will be significant during the forecast period. The optical neuronavigation system uses a pair of stereoscopic optical cameras, infrared (IR) emitters, and reflective markers. These systems use three-dimensional (3D) positioning technology, monitoring a defined measurement space using two or more cameras equipped with infrared filters in front of the lens. Currently, most neuronavigation systems available in the neuro-navigation systems market are based on optical tracking.
Get a glance at the market contribution of various segments View a PDF Sample
The optical segment was valued at USD 344.90 million in 2018. Optical neuronavigation systems are simple and less expensive compared with electromagnetic systems. These factors contribute to the large revenue share of the optical segment in the global market. In addition, the introduction of low-cost systems to cater to emerging and cost-sensitive markets is expected to drive the growth of the optical segment, which in turn will fuel the growth of the neuro-navigation systems market during the forecast period. Market forecasting, market growth and trends, and market analysis and report provide valuable insights into the neurological surgery equipment market, facilitating informed decision-making for stakeholders in the neurosurgical navigation software and surgical precision technology sectors. Moreover, advancements in neurological disorders treatment and neurosurgical navigation techniques contribute to the overall growth trajectory of the industry.
Hospitals are integrating neuronavigation systems as a tool in surgical methods to develop accurate positional information of the anatomical structure during surgery. It helps doctors to make small incisions with high precision. They help in clearing lesions or localizing instruments, such as rods and screws, during spine surgery. The customization of each case is possible as neuronavigation systems are incorporated with a microscope and other instruments that can be adjusted according to surgery conditions. The growing adoption of this in hospitals is driving the hospital segment, which in turn will fuel the growth of the neuro-navigation systems market during the forecast period.
Ambulatory surgical centers (ASCs) are achieving importance corresponding with hospitals due to various factors. These factors include the early discharge of patients and enhanced functional capabilities, such as the reduction in hospital-acquired infections (HAIs). ASCs are mainly known for providing surgical services at a lower cost compared with hospitals. ASCs are greatly embracing neuronavigation systems, thereby boosting the demand for these systems. Consequently, the ASCs segment is expected to drive the growth of the neuro-navigation systems market during the forecast period. Market trends and analysis, market growth analysis, market research and growth, and market growth and forecasting provide valuable insights into the adoption of neurological navigation techniques in both hospitals and ambulatory surgical centers.
For more insights about the market share of various regions View PDF Sample now!
North America is estimated to contribute 47% 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. Factors such as advancements in technology, new product launches, and increasing funding for the development of innovative advanced medical devices are expected to drive the regional neuro-navigation market.
Furthermore, the increasing prevalence of neurological conditions and the rising adoption of these have compelled players to implement various market strategies, such as product launches, to strengthen their market presence. New players are entering the market through various product launches, as well as by receiving regulatory approval for introducing new products. Thus, regulatory approval for these offered by key market players is likely to drive the market in North America during the 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 report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Heal Force Biomeditech Holdings Ltd.: The company offers products such as Accurate Navigation for Glioma Resection which provides surgical treatment of brain functional gliomas.
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.
The market is driven by the growing demand for Minimally Invasive Neurosurgery and advancements in Neurology Equipment. Stereotactic Navigation and Intraoperative Navigation are key trends, enhancing Surgical Accuracy and enabling precise Surgical Planning. Integration of Surgical Robotics and 3D Visualization further improves Neurological Treatments. However, challenges such as complex Image Registration and the need for extensive Neurological Diagnostics persist. Additionally, Neurological Rehabilitation and Neurological Interventions require innovative Neurological Navigation Solutions. As Neurological Research progresses, the market faces the challenge of meeting diverse needs in Neurological Therapeutics. Despite hurdles, the market anticipates growth driven by increased adoption in Neurology Clinics and rising demand for Neurological Imaging in diagnosing Neurological Trauma.
The increasing prevalence of chronic neurological disorders is the key factor driving market growth. The majority of neurological diseases are growing due to the rapidly growing geriatric population. Aging increases the risk of clinical onset and progression of neurological diseases. The geriatric population is growing rapidly because of the increase in average life expectancy. The increasing elderly population is likely to increase the risk of neurological disorders, which will drive the growth of the market.
Furthermore, approximately four out of every 100 people worldwide are diagnosed with essential tremor (ET). The incidence of ET remarkably increases with age. The increasing prevalence of neurological disorders is driving the growth of minimally invasive surgeries. This, in turn, is increasing the demand for neuronavigation, which in turn will drive the growth of the global market during the forecast period.
The emergence of hybrid operating rooms with integrated healthcare infrastructure is the primary trend in the market. Hybrid operating rooms (ORs) incorporate surgery and cutting-edge imaging systems to make the surgery process peaceful and useful for patients. Minimally invasive surgeries are observing rapid growth compared with traditional surgeries and imaging technologies. Thus, hybrid ORs are being developed to combine conventional operating rooms with imaging systems, such as MRI, CT scan, and angiography systems. Hybrid ORs have optimal imaging-enabled and mobile or permanently installed systems.
Moreover, the emergence of hybrid ORs with integrated healthcare infrastructure will benefit cardiovascular, neurosurgery, traumatology, and orthopedics disciplines because of their cost efficiency and high imaging quality of 3D systems. Hybrid ORs allow diagnostic evaluation. They simultaneously perform an intervention that has a significant impact on the efficiency of the operation. Therefore, the emergence of hybrid operating rooms with combined healthcare infrastructure is anticipated to fuel the growth of the market during the forecast period.
The dearth of skilled surgeons to operate neuronavigation systems is a challenge that affects market growth. The neural guidance system is a high-end technology product. Surgeons need expertise and knowledge to perform surgical procedures effectively using a neuronavigation system. The information displayed by the neuronavigation system must be understood and interpreted accurately to minimize potential sources of error during surgery. A surgeon's lack of skill and expertise in dealing with nerve guidance can pose a serious threat to the patient.
Moreover, skilled neurologists are required to perform neurosurgery using neuronavigation systems. The demand for neurology services is increasing globally; however, many countries are witnessing a shortage of neurologists. The demand for neurologists is increasing, owing to the growing geriatric population and rising prevalence of neurological conditions. However, the shortage of neurologists will limit the use of neuronavigation, which will impede the growth of the global market during the forecast period.
Buy Now Full Report and Discover More
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 growth strategies.
Global Market Customer Landscape
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The market is witnessing remarkable growth due to advancements in Brain Surgery Technology and Surgical Navigation Systems. These systems play a crucial role in Neurosurgical Navigation, aiding precise navigation during complex Neurological Procedures. Leveraging Medical Imaging Technology, such as Neurological Navigation Devices, these tools facilitate Image-Guided Surgery, Brain Mapping Systems and Brain Mapping Technology, essential for accurate diagnoses and treatment planning. From Brain Tumor Surgery to addressing various Neurological Disorders, these systems offer unparalleled precision.
Neurological Navigation Tools are integral components of Stereotactic Surgery Systems, enhancing the efficacy of procedures by providing real-time guidance. Moreover, Neurosurgical Navigation Software enables seamless integration of data and facilitates Brain Function Mapping, crucial for understanding brain functionality and planning surgeries accordingly. As the demand for minimally invasive procedures rises, the Neuronavigation Systems Market continues to expand, offering innovative solutions for improved patient outcomes and enhanced surgical precision in the realm of neurosurgery.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
162 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 7.06% |
|
Market Growth 2024-2028 |
USD 227.65 million |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
6.01 |
|
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
|
Performing market contribution |
North America at 47% |
|
Key countries |
US, Germany, France, UK, and China |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Apollo Hospitals Enterprise Ltd., B.Braun SE, Brainlab AG, Clearpoint Neuro Inc., Fiagon GmbH, Heal Force Biomeditech Holdings Ltd., inTRAvent Medical Partners, KARL STORZ SE and Co. KG, Lexmark International Inc., Medtronic Plc, Nexstim Plc, Orthofix Medical Inc., Parsiss Co., Roper Technologies Inc., Soterix Medical Inc., Stryker Corp., Synaptive Medical Inc., The Magstim Co. Ltd., Xoran Technologies LLC, and Zimmer Biomet Holdings Inc. |
|
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 market 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. |
View Sample PDF at your Fingertips
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.