Neuronavigation Systems Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, France, UK, China - Size and Forecast 2024-2028

Neuronavigation Systems Market Forecast 2024-2028

The global neuronavigation systems market size is estimated to grow by USD 227.65 million at a CAGR of 7.06% between 2023 and 2028. The Neurological Navigation Market experiences substantial growth propelled by the surge in chronic neurological disorders, notably among the geriatric population. As aging amplifies the risk and progression of such ailments, the rising elderly demographic, linked with increased life expectancy, escalates the market's expansion.

A notable trend is the emergence of hybrid operating rooms, integrating advanced Neurosurgery Equipment with cutting-edge imaging systems for enhanced surgical efficacy. These rooms amalgamate traditional operating environments with imaging technologies like MRI and CT scans, facilitating Brain Surgery Technology and precise interventions. The transition towards minimally invasive procedures further underscores this trend, fostering the development of Surgical Instruments tailored for such surgeries within hybrid ORs. This convergence of Neurological Navigation Technology with sophisticated imaging devices signifies a significant stride in improving patient outcomes and surgical precision.

What will be the size of the Market During the Forecast Period?

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Market Segmentation by Product, End-user, and Geography Analysis

Product Analysis 

Optical Segmentation

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.

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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.

End-user Segment Analysis

Hospital Segmentation

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.

ASCs Segment

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.

Regional Analysis

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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.

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Key Market Players 

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.

• Apollo Hospitals Enterprise Ltd.
• B.Braun SE
• Brainlab AG
• Clearpoint Neuro Inc.
• Fiagon GmbH
• 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
• Zimmer Biomet Holdings Inc.

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.

Market Dynamics and Customer Landscape

The Neuronavigation Systems 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.

Key Market Drivers

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.

Significant Market Trends

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.

Major Market Challenges

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.

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Market Customer Landscape

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

Market Analyst Overview 

The Neuronavigation Systems 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 Neuroimaging Devices, these tools facilitate Image-Guided Surgery 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.

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Product Outlook
  • Optical
  • Electromagnetic

• End-user Outlook
  • Hospitals
  • ASCs
  • Others

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of the World (ROW)
    • Argentina
    •  Australia
    • Brazil 

Neuronavigation Systems 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, 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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the market size and its contribution of the market in focus to the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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